The ₹143.35 crore of Dev Accelerator Ltd will open for public subscription from September 10, 2025 and conclude on September 12, 2025.
The company which provides flexible office spaces and is promoted by listed entity Dev Information Technology Ltd had fixed a price band of ₹56-61 per share for its upcoming IPO.
The IPO is entirely a fresh issue of 2.47 crore equity shares worth ₹143 crore at the upper end of the price band.
At the upper end, the company’s market validation stood at ₹550 crore.
The company said 75 per cent of the issue size has been reserved for qualified institutional buyers, 15 per cent for non-institutional investors and the remaining 10 per cent for retail investors.
Investors can bid for one lot of 235 shares and in multiples of 235 thereafter.
The anchor portion will open on September 09, 2025. One-third of it shall be reserved for domestic mutual funds, the company said in its statement.
Use of funds
The company has proposed to utilise the net proceeds from the fresh Issue towards capital expenditure for fit-outs in the proposed centres estimated to ₹73 crore; repayment and/or pre-payment, in full or part, of certain borrowings availed by the company including redemption of non-convertible debentures estimated to ₹35 crore; and balance towards general corporate purposes.
Pantomath Capital Advisors Pvt Ltd is the book running lead manager to the IPO issue.
The shares of Dev Accelerator to make its stock market debut on September 17.