Flexible office space -provider DEV Accelerator announces IPO data. Check details

DEV Accelerator, a company that offers flexible co-working and managed office spaces under the brand name DEVX, has been set to launch his IPO on 10 September. This book-built problem will be a completely new issue of 2.35 Crore shares. This means that all the collected money will be invested directly in the growth of the company.

The IPO is open for three days for a public subscription and will conclude on 12 September. The price band for the edition will be announced soon.

DEV Accelerator quickly became an important player in the commercial real estate sector of India. The company model of the company is aimed at offering versatile workspace solutions to large companies, multinational companies and small to medium-sized companies.

The company has an important footprint, with 28 centers in 11 large Indian cities. From May 2025 the company managed more than 860,000 square foot office space and served more than 250 customers.

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The expansion plans of DEV Accelerator are ambitious, including a new center in Surat and his very first international center in Sydney, Australia, for which it has already signed intent letters.

These new centers are expected to add a considerable number of seats and square meters to his portfolio, which emphasizes its strong growth process.

DEV Accelerator has shown healthy financial growth, with his turnover increase to RS 159 crore and profit after tax (Pat) that rises multiple to RS 1.8 crore between the financial years that end in FY24 and FY25.

The company plans to use the net output of the IPO to feed its expansion. A significant part of the funds will be used for capital expenses for new centers and repaying certain loans.

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After the end of the IPO, the shares are expected to be allocated on 15 September. The shares of the company will be mentioned on the BSE and NSE on 17 September. Pantomath Capital Advisors is the book runner for the edition, with KFIN technologies that act as a registrar.