Synopsis:
Dev Information Technology jumped sharply after its unit, Dev Accelerator Limited, announced that its IPO will open on September 10, 2025, price band of ₹ 56 – ₹ 61 per Equity Share, and the overall issue amount is ₹143.35 crore.
The shares of this leading IT service provider are in focus after its unit got another inch closer to launching its IPO, potentially raising Rs 143.35 crore through the round. In this article, we will discuss it in detail.
With a market capitalization of Rs 251 crore, the shares of Dev Information Technology Ltd made a day high of Rs 45.20 per share, up by 5 percent from its previous day closing price of Rs 43.01 per share. In the last one year, the stock has corrected by over 15 percent.
About the announcement
Dev Accelerator Limited, which is associated with Dev Information Technology Limited, is gearing up to launch its Initial Public Offering (IPO) on September 10, 2025, wrapping up on September 12, 2025. The price range has been set between Rs 56 and Rs 61 per equity share, each with a face value of Rs 2.
Bidding for anchor investors is slated for September 9, 2025. Investors can place bids for a minimum of 235 equity shares, and in multiples of that amount thereafter. The total size of the IPO is pegged at Rs 143.35 crore at the upper end of the price band, consisting solely of a fresh issue, with no offer for sale (OFS) included.
The company plans to use the net proceeds for capital expenditures of about Rs 73 crore for fit-outs in its proposed centers, Rs 35 crore for repaying or prepaying borrowings, including the redemption of non-convertible debentures, while the remaining funds will be directed towards general corporate purposes.
On the financial front, the company has demonstrated impressive growth, with FY25 revenue from operations reaching Rs 158.88 crore, marking a 47 percent increase year-on-year. Profit after tax (PAT) surged to Rs 1.77 crore, reflecting a remarkable 305.72 percent year-on-year rise, while the adjusted EBITDA stood at Rs 80.46 crore, showcasing robust operational performance and enhanced margins.
Dev Accelerator’s shares will be listed on both the BSE and NSE, with the NSE serving as the lead exchange. The IPO will follow the Book Building Process in accordance with SEBI regulations, featuring an allocation structure of 75 percent for Qualified Institutional Buyers (QIBs), which includes up to 60 percent reserved for anchor investors, 15 percent for Non-Institutional Investors (NIIs), and 10 percent for Retail Individual Investors (RIIs).
According to a report by JLL, Dev Accelerator Limited ranks among the largest providers of flexible workspace solutions in Tier-2 markets across India. It operates through various business models, including Straight Lease, Revenue Share, Furnished by Landlord, and OpCo-PropCo. As of May 31, 2025, the company has catered to over 250 clients across 28 centers in 11 cities, managing 14,144 seats within a super built-up area of 8.6 lakh sq. ft.
The IPO of Dev Accelerator Limited could really work in favor of its parent company, Dev Information Technology Ltd. It has the potential to unlock value, enhance brand visibility, create operational synergies, and possibly elevate investor sentiment along with Dev IT’s overall valuation.
Written by Satyajeet Mukherjee
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