Dev Accelerator IPO Sees Strong Investor Demand

Dev Accelerator Ltd's ₹143.35-crore IPO emerged as the standout performer among three offerings launched Wednesday, achieving 5.33 times subscription. The flexible office space provider saw bids for 7 crore shares against 1.31 crore available.

Retail investors drove momentum with their reserved 10% allocation oversubscribed 19.53 times. The offering structure allocated 75% to institutional buyers (1.16x subscribed), 15% to non-institutional investors (4.46x), with employee and shareholder quotas drawing 2.34x and 4.15x demand respectively.

Anchor investors including Finavenue Capital Trust and Universal Sompo General Insurance committed ₹63 crore ahead of the public offering. The fresh issue of 2.35 crore shares carries a price band of ₹56-61, with retail investors required to bid in 235-share lots.