Dev Accelerator IPO Hits 21x Subscription with Massive Retail Rush - Final Bidding Closes Today!

Retail investors swarm Dev Accelerator's public offering as subscription numbers explode past 21 times oversubscribed.

The People's Offering

Main Street isn't waiting for Wall Street's approval—retail participation shattered expectations, flooding the books with unprecedented demand. Forget traditional IPO pipelines; this groundswell proves individual investors now move markets without institutional validation.

Countdown to Closing

Today marks the absolute deadline for bids. Miss this window and watch from the sidelines as one of the most hyped public debuts of the year rockets past its targets. The 21x oversubscription rate signals brutal allocation cuts for latecomers.

Another day, another IPO—because clearly what finance needed was more companies going public before actually turning a profit.

Retail investors lead the charge

Retail Individual Investors (RIIs) showed exceptional interest, with their portion subscribed 73.13 times. Non-institutional investors (NIIs) subscribed 24.59 times, while the qualified institutional buyers (QIBs) segment saw 2.40 times subscription.

The employee portion and shareholders portion were reserved 7.24 times and 17.86 times, respectively, at the time of writing.

Anchor portion

Ahead of the ₹143.35 crore IPO, Dev Accelerator raised ₹63 crore from anchor investors on Tuesday, reflecting strong institutional backing.

IPO Details and Price Band

The IPO comprises a fresh issue of 2.35 crore equity shares, aggregating to ₹143.35 crore at the upper end. The price band has been fixed in the range of ₹56–₹61 per share. At this level, the company’s market valuation is pegged at around ₹550 crore. The issue will close today.

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Dev Accelerator IPO & Urban Company IPO: Key takeaways

Pantomath Capital Advisors Pvt Ltd is the book running lead manager to the IPO issue.

Listing date

Following allotment, the shares will likely list on September 17.

Fund utilisation

Proceeds from the issue will be used for fit-outs in new centres and their security deposits, debt repayment and general corporate purposes such as strategic initiatives, marketing, brand building, and lease liability payments.

Also read

Retail frenzy powers IPOs despite volatile markets

Expansion Strategy

With the capital infusion, DevX WOULD expand its co-working footprint across major cities including Mumbai, Gurugram, Noida, Pune, Chennai, GIFT City, Ahmedabad, Vadodara, Rajkot, Surat, Goa, and Jaipur.

Published on September 12, 2025