Dev Accelerator IPO is a fixed price SME issue worth ₹143.35 crore. The IPO comprises a fresh issue of 2.35 crore equity shares aggregating to ₹143.35 crore, with no offer for sale component. The bidding window was open from September 10 to September 12, 2025, and the allotment was finalised on September 15, 2025. The shares are scheduled to list on the BSE and NSE platforms on September 17, 2025.
The IPO has been priced at ₹56–61 per share with a lot size of 235 shares. The Dev Accelerator IPO was subscribed 63.68 times overall by September 12, 2025. On Day 3, the retail segment was oversubscribed 163.22 times, the QIB (excluding anchor investors) 20.30 times, and the NII segment 87.91 times.
The Dev Accelerator IPO opened for subscription between September 10 and September 12, 2025. The allotment was finalised on September 15, 2025, with refunds initiated on September 16, 2025. The company’s shares are set to list on the BSE and NSE platforms on September 17, 2025. The IPO, valued at ₹143.35 crore, was offered in a price band of ₹56–61 per share. Investors were required to apply for a minimum of 1 lot (235 shares), amounting to a minimum investment of ₹14,335 at the upper price band for retail participants.
The table below breaks down the Dev Accelerator share allocation for different categories, highlighting the number of shares and their percentage of the total issue. However, the key focus remains on the quotas allocated to retail investors and HNIs, as they are the most relevant for individual investors.
| Investor Category | Shares Offered |
| QIB Shares Offered | 1,72,54,875 (73.43%) |
| NII (HNI) Shares Offered | 34,50,975 (14.69%) |
| Retail Shares Offered | 23,00,650 (9.79%) |
| Employee Shares Offered | 1,64,500 (0.70%) |
| Shareholders Shares Offered | 3,29,000 (1.40%) |
| Total Shares Offered | 2,35,00,000 (100.00%) |
Data Source: NSE
| Category | Subscription (times) |
| QIB (Ex Anchor) | 20.30 |
| NII | 87.97 |
| Retail | 164.89 |
| Employee | 17.60 |
| Shareholders | 46.97 |
| Total | 64.00 |
Note: The subscription details are as of September 12, 2025
Dev Accelerator Limited, better known as DevX, was founded in 2017 and offers flexible office spaces, including coworking setups. The company has grown rapidly and now operates 28 centres across 11 Indian cities, like Delhi-NCR, Hyderabad, Mumbai, and Pune, with 14,144 seats spread over 8.6 lakh sq. ft. of managed space as of May 31, 2025. It serves more than 250 clients, ranging from large corporates and MNCs to SMEs.
DevX focuses on customizable and flexible workspace solutions that meet the changing needs of modern businesses. This includes options like managed offices, coworking areas, dedicated desks, and flexible lease terms that also support remote work models.
Looking ahead, the company has signed Letters of Intent (LOIs) for three new centers, including its first overseas location in Sydney, Australia, and has leased space for a new center in Surat. These upcoming facilities will add 11,500 seats across 8.97 lakh sq. ft.
In addition, its subsidiary, Neddle and Thread Designs LLP, provides design and execution services to support workspace development.
Get the latest updates on IPO allotment status and track your application details online to see your share allocation status.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.
Investments in the securities market are subject to market risks, read all the related documents carefully before investing.
Published on: Sep 13, 2025, 10:24 AM IST
Kusum Kumari
Kusum Kumari is a Content Writer with 4 years of experience in simplifying financial market concepts. Currently crafting insightful content at Angel One, She specialise in breaking down complex topics into easy-to-understand pieces, blending expertise in market fundamentals and technical analysis.
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