Dev Accelerator IPO Day 3: Issue Subscribed 63.97x, Check GMP and Details
The Dev Accelerator IPO has garnered significant attention from investors, reflecting strong market confidence. On its third and final day of bidding, the issue was oversubscribed by an impressive 63.97 times, indicating robust demand across all investor categories.
Subscription Status
- Retail Investors: The retail portion was subscribed to 164.71 times, highlighting substantial participation from individual investors.
- Non-Institutional Investors (NII): This category saw a subscription rate of 87.97 times, reflecting strong interest from high-net-worth individuals.
- Qualified Institutional Buyers (QIB): The QIB portion was subscribed to 20.30 times, indicating confidence from institutional investors.
- Employee and Shareholder Quotas: Both segments experienced healthy demand, with subscription rates of 17.61 times and 46.98 times, respectively.
Grey Market Premium (GMP)
The IPO’s Grey Market Premium (GMP) stood at ₹10, suggesting a potential listing price of ₹71 per share, approximately 16.39% higher than the upper issue price of ₹61. This positive indicator reflects investor optimism about the company’s market debut.
Company Overview
Dev Accelerator operates in the flexible workspace sector, providing scalable office solutions across multiple cities. The company aims to utilize the funds raised through the IPO for expansion and debt reduction, positioning itself for future growth in a rapidly evolving industry.
IPO Details
- Issue Size: ₹143.35 crore (upper price band).
- Price Band: ₹56 to ₹61 per share.
- Listing Date: Expected on September 17, 2025.
- Use of Proceeds: Funds will be utilized for fit-outs of new centres and debt repayment, aiming to strengthen the company’s balance sheet and support its expansion plans.
Conclusion
The strong subscription figures and positive GMP indicate robust investor confidence in the Dev Accelerator IPO. As the company prepares for its market debut, all eyes will be on its listing performance and subsequent growth trajectory in the flexible workspace industry.
Disclaimer:
This content is for informational purposes only and is not financial advice. Always conduct your research.
