Founded in 2017, Dev Accelerator Limited (operating as DevX) is a provider of adaptable office solutions, including coworking spaces. It has grown its network to 15 locations throughout India, with a significant presence in major metropolitan areas including Delhi-NCR, Hyderabad, Mumbai, and Pune.
The core of DevX’s operations is delivering customizable workspace options designed to meet the changing demands of today’s businesses. Their services include configurable desks and private suites, support for remote work models, and lease agreements with flexible terms. As of May 31, 2025, the company manages 28 centers across 11 Indian cities, boasting 14,144 seats and an total area under management of 860,522 square feet, serving a client base of more than 250.
Dev Accelerator Limited caters to a diverse business clientele, from SMEs to large multinational corporations, by providing managed offices and coworking environments. Design and execution services are also offered through its subsidiary, Neddle and Thread Designs LLP.
The Initial Public Offering (IPO) for the company is set to commence on September 10, 2025, and will conclude on September 12, 2025. The allocation for investors is divided into a 10% retail quota, a 75% quota for Qualified Institutional Buyers (QIBs), and a 15% quota for High Net Worth Individuals (HNIs). The share allotment is scheduled for September 15, 2025, followed by the anticipated listing on both the BSE and NSE exchanges on September 17, 2025. Financially, the company demonstrated strong growth, reporting a revenue of ₹178.89 crores and a profit of ₹1.77 crores in 2025, a significant increase from ₹110.72 crores in revenue and a profit of ₹0.44 crores in 2024.
Dev Accelerator IPO Details
| IPO Date | September 10, 2025 to September 12, 2025 |
| Listing Date | [.] |
| Face Value | ₹2 per share |
| Issue Price Band | ₹56 to ₹61 per share |
| Lot Size | 235 Shares |
| Total Issue Size | Approx ₹143.35 Crores |
| Issue Type | Book building IPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 6,66,87,515 shares |
| Share Holding Post Issue | 9,01,87,515 shares |
Dev Accelerator IPO Dates
The Initial Public Offering of Dev Accelerator is scheduled to be open between September 10 and September 12, 2025.
| IPO Open Date | Wed, Sep 10, 2025 |
| IPO Close Date | Fri, Sep 12, 2025 |
| Tentative Allotment | Mon, Sep 15, 2025 |
| Refunds | Tue, Sep 16, 2025 |
| Credit of Shares to Demat | Tue, Sep 16, 2025 |
| IPO Listing Date | Wed, Sep 17, 2025 |
| UPI Mandate Confirmation Deadline | 5 PM on September 12, 2025 |
Dev Accelerator IPO Market Lot
The minimum investment lot is 235 shares, with bids required in multiples of this amount. The table details the investment range (in shares and value) for Retail and HNI investors.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail Minimum | 1 | 235 | ₹14,335 |
| Retail Maximum | 13 | 3,055 | ₹1,86,355 |
| S-HNI Minimum | 14 | 3,290 | ₹2,00,690 |
| S-HNI Maximum | 69 | 16,215 | ₹9,89,115 |
| B-HNI Minimum | 70 | 16,450 | ₹10,03,450 |
