Flexible office space provider Dev Accelerator announces IPO dates. Check details

Dev Accelerator, a company that offers flexible co-working and managed office spaces under the brand name DevX, is set to launch its IPO on September 10. This book-built issue will be an entirely fresh issuance of 2.35 crore shares. This means all the money raised will be directly invested back into the company's growth.

The IPO will be open for public subscription for three days, closing on September 12. The price band for the issue will be announced soon.

Dev Accelerator has quickly become a key player in India's commercial real estate sector. The company's business model is focused on providing versatile workspace solutions to large corporations, multinational companies, and small to medium-sized enterprises.


The company has a significant footprint, with 28 centres across 11 major Indian cities. As of May 2025, the company managed over 860,000 square feet of office space and served more than 250 clients.
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Dev Accelerator's expansion plans are ambitious, including a new centre in Surat and its first-ever international centre in Sydney, Australia, for which it has already signed Letters of Intent.

These new centres are expected to add a substantial number of seats and square footage to its portfolio, highlighting its strong growth trajectory.

Dev Accelerator has shown healthy financial growth, with its revenue increasing to Rs 159 crore and profit after tax (PAT) rising multi-fold to Rs 1.8 crore between the financial years ending FY24 and FY25.

The company intends to use the net proceeds from the IPO to fuel its expansion. A significant portion of the funds will be used for capital expenditure for new centres and repaying certain borrowings.

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Following the close of the IPO, the shares are expected to be allotted on September 15. The company's shares are scheduled to be listed on the BSE and NSE on September 17. Pantomath Capital Advisors is the book-running lead manager for the issue, with Kfin Technologies acting as the registrar.