DEV Accelerator IPO ends with 64x subscription. How you can check the allocation status and the last GMP

The initial public offer (IPO) from DEV Accelerator witnessed a strong investor’s interest on his third and last day on Friday 12 September. The public issue of RS 143-Crore was subscribed almost 64 times against his offer size by the end of day 3.

The IPO received bids for more than 84 crore shares compared to the offer size of 1.31 crore shares, according to NSE data. Retail investors led the rally and surpassed their part with 165 times. The category of non-institutional investor (NII) was booked about 88 times, while the qualified institutional buyer (QIB) part was subscribed more than 20 times.

The allocation of the share will be completed on 15 September, with the shares planned to mention on the Bourses on 17 September.

Applicants can check their allocation status via the registrar, Kfin Technologies or directly via the BSE platform. Here is how:

Checking the allocation for KFIN Technologies (registrar)

Visit the Kfintech IPO status page

(https://ipostatus.kfintech.com/)

Select DEV Accelerator in the drop -down menu.

Enter the application number or pannum number

Your allocation status is displayed, from which the number of allocated shares is shown.

Check allocation for BSE (Exchange website)

Go to the BSE IPO allocation page

((https://www.bseindia.com/investors/appli_check.aspx))

Select equity under issue type.

Choose DEV Accelerator from the drop -down list

Enter your application number and pan.

Click search.

With the problem that has been registered for 60 times, the allocation opportunities are extremely limited. Investors who miss receive refunds/unblocked funds before they are mentioned.

DEV Accelerator GMP

DEV Accelerator IPO’s Gray Market Premium (GMP) fluctuates around RS 10 on 13 September. With the issue price on RS 61, the IPO is expected to be mentioned around RS 71. That means that investors can see an estimated profit of around 16.4% per share. However, investors must note that GMP is powered by market sentiment and can fluctuate sharply. It serves as an indicative figure and may not accurately reflect the actual listing price.

Company overview

DEV Accelerator is an integrated provider of workspace solutions that serves companies, startups and private individuals. The range varies from a few agencies to fully adapted offices with exclusive customer access. The company works with the help of several models for purchasing assets, such as a straight lease, income share, furnished by the lessor and OPCO Propco.

The company was quickly extended to both Tier-1 and Tier-2 cities, which means that a presence is based in Delhi NCR, Hyderabad, Mumbai, Pune, Ahmedabad, Gandhinagar, Indore, Jaipur, Udaipur, Rajkot and Vadodara. The extensive services include workspace design, development, technology integration and full asset management.

A day before the ipo opened for public bidding, the ahmedabad-based company announced that it it had Raised RS 63.15 crore from 11 Institutional Investors via an anchor book on September 9. Institutional Investors Partis, Fues-GENDANEMOPEMODED SOUTODED Capital Trust, Sunrise Investment Opportunities Fund, Meru Investment Fund, SB Opportunities Fund, VBCube Ventures Fund, and Venus Stellar Fund.

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The company plans to use the IPO funds mainly for capital expenditures for new centers, reimbursement of certain debts and general business purposes.

((Indemnification: Recommendations, suggestions, views and opinions of the experts are their own. These do not represent the views of economic times)