31 Mar 2023
Assets282.42
Total Income71.37
EBITDA29.88
Profit After Tax-12.83
NET Worth1.22
Total Borrowing33.20
At a glance
Updated 2026-09-11Dev Accelerator is a Mainboard IPO with an issue size of ₹143.35 crore, proposed for listing on BSE, NSE. The offer opens on 10th Sep 2025 and closes on 12th Sep 2025. The issue structure includes a fresh issue of ₹143.35 crore. The current listing schedule points to 17th Sep 2025.
Issue details
Listing atBSE, NSE
Issue typeBook Build Issue
Issue size₹143.35 Cr
Fresh issue₹143.35 Cr
Face value₹2
Price band₹56.00–₹61.00
Allotment15th Sep 2025
Listing17th Sep 2025
Grey market
GMP page ↗Latest GMP₹6.00
GMP / upper price9.84%
Est. listing₹67.00
GMP is unofficial sentiment data, not an exchange price.
Timeline
Opens10th Sep 2025
Closes12th Sep 2025
Allotment15th Sep 2025
Refund16th Sep 2025
Demat16th Sep 2025
Listing17th Sep 2025
Subscription demand
Full bidding ↗Total64.00×
Lot size
| Investor | Lots | Shares | Amount |
|---|---|---|---|
| Minimum Bid | 1 | 235 | ₹14,335 |
Company
Use of proceeds
| Object | Amount |
|---|---|
| Capital expenditure for fit-outs in the new Centres and for security deposits of the new Centres. | ₹73.12 Cr |
| Repayment and/or pre-payment, in full or part, of certain borrowings availed by Company including redemption of NCDs | ₹35.00 Cr |
| General Corporate Purposes | ₹19.26 Cr |
| Issue Expenses | ₹15.97 Cr |
| Total | ₹143.35 Cr |
Financial performance
Year-wise operating scale, profitability and balance-sheet context.Revenue178.89₹ Cr · +61.6% vs prior year
EBITDA80.46₹ Cr · +24.3% vs prior year
PAT1.74₹ Cr · +304.7% vs prior year
Assets540.38₹ Cr · +31.5% vs prior year
Net Worth54.79₹ Cr · +90.3% vs prior year
Borrowing130.67₹ Cr · +29.3% vs prior year
3-year financial trendRevenue / EBITDA / PAT
₹ crore31 Mar 2024
Assets411.09
Total Income110.73
EBITDA64.74
Profit After Tax0.43
NET Worth28.79
Total Borrowing101.05
31 Mar 2025
Assets540.38
Total Income178.89
EBITDA80.46
Profit After Tax1.74
NET Worth54.79
Total Borrowing130.67
KPIs
| KPI | Mar 31, 2025 |
|---|---|
| ROCE | 25.95% |
| Debt / Equity | 2.39% |
| RoNW | 3.24% |
| PAT Margin | 1.00% |
| EBITDA Margin | 50.64% |
| Price to Book Value | 7.94 |
Valuation & shareholding
Pre-IPO EPS0.26
Post-IPO EPS0.19
Pre-IPO P/E233.25
Post-IPO P/E315.45
Promoter holding pre49.8%
Promoter holding post36.8%
Market cap₹550.14 Cr.
Peer comparison
| Company | EPS | P/E | RoNW | NAV |
|---|---|---|---|---|
| Dev Accelerator IPO | — | 315.45 x | — | — |
| WeWork India IPO | — | 67.75 x | — | — |
| Indiqube Spaces IPO | — | - | — | — |
| Smartworks Coworking IPO | — | - | — | — |
Issue expenses
| Expense | Amount |
|---|---|
| Capital expenditure for fit-outs in the new Centres and for security deposits of the new Centres. | ₹73.12 Cr |
| Repayment and/or pre-payment, in full or part, of certain borrowings availed by Company including redemption of NCDs | ₹35.00 Cr |
| General Corporate Purposes | ₹19.26 Cr |
| Issue Expenses | ₹15.97 Cr |
| Total | ₹143.35 Cr |
Registrar & lead managers
Registrar
Kfin Technologies Ltd.Lead managers
- Pantomath Capital Advisors Pvt.Ltd.
Offer documents
Data is reconciled from multiple public IPO sources. Official exchange filings and offer documents remain the source of truth. Last verified 2026-09-11.
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