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Established in 2017, Dev Accelerator Limited, commonly known as DevX, provides flexible office spaces, including coworking environments. The company has expanded to 15 centers across major Indian cities. Its business model focuses on customizable workspace solutions for modern businesses, accommodating remote work trends and offering flexible lease options. As of August 31, 2024, DevX services over 230 clients with 25 centers across 11 cities, covering 806,635 square feet. The company has signed LOIs for three new centers, including its first international center in Sydney, Australia, and a new center in Surat, offering 11,500 seats across 897,341 sq. ft. DevX also provides design and execution services through its subsidiary, Neddle and Thread Designs LLP.
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| Category | Subscription | Status |
|---|---|---|
| QIB (Qualified Institutional Buyers) | 20.30x | Oversubscribed |
| NII (Non-Institutional Investors/HNI) | 87.97x | Oversubscribed |
| RII (Retail Individual Investors) | 164.89x | Oversubscribed |
| Total Subscription | 64.00x | Oversubscribed |
Last updated: Sep 12, 2025, 05:06 PM
Detailed breakdown of financial metrics across years
| Financial Metric | 2025 | 2024 | 2023 |
|---|---|---|---|
| Assets | ₹540.38 Cr | ₹411.09 Cr | ₹282.42 Cr |
| EBITDA | ₹80.46 Cr | ₹64.74 Cr | ₹29.88 Cr |
| Net Worth | ₹54.79 Cr | ₹28.79 Cr | ₹1.22 Cr |
| Profit After Tax | ₹1.74 Cr | ₹0.43 Cr | ₹12.83 Cr |
| Total Borrowing | ₹130.67 Cr | ₹101.05 Cr | ₹33.2 Cr |
| Total Income | ₹178.89 Cr | ₹110.73 Cr | ₹71.37 Cr |
Detailed strengths and risks analysis will be available when the company releases its prospectus and detailed documentation.
Read Company Prospectus| Face Value | ₹2 per share |
| IPO Date | September 10, 2025 to September 12, 2025 |
| Issue Price Band | ₹56 to ₹61 per share |
| Issue Price Final | ₹61 per share |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Listing Date | September 17, 2025 |
| Lot Size | 235 Shares |
| Sale Type | Fresh Capital |
| Share Holding Post Issue | 9,01,87,515 shares |
| Share Holding Pre Issue | 6,66,87,515 shares |
| Total Issue Size | 2,35,00,000 shares (aggregating up to ₹143.35 Cr) |
| Promoter Holding Post Issue | 36.80% |
| Promoter Holding Pre Issue | 49.80% |
| BSE Listing Group | T |
| BSE Script Code | 544513 |
| Final Issue Price | ₹61 per share |
| ISIN | INE0VOV01021 |
| Listing Date | September 17, 2025 |
| NSE Listing Group | BE (Trade to Trade) |
| NSE Symbol | DEVX |