Dev Accelerator has opened its initial public offering (IPO) to raise ₹143.35 crore through a fresh issue of 2.35 crore equity shares. The subscription window runs from September 10 to September 12, 2025, with shares expected to be listed on both the BSE and NSE on September 17.

The IPO is a book-built issue with a price band set between ₹56 and ₹61 per share. Investors can bid in lots of 235 shares, translating into a minimum investment of ₹14,335 at the upper price level. Post-issue, the company’s shareholding will expand from 6.66 crore to 9.01 crore equity shares.

Company Overview

Dev Accelerator provides business support to startups and emerging companies, focusing on capital access, advisory services, and scaling strategies. The company positions itself as a growth partner for small and mid-sized enterprises navigating India’s competitive business ecosystem.

IPO Structure

Out of the total issue size, 73.43% has been reserved for qualified institutional buyers (QIBs), 14.69% for non-institutional investors (NIIs), and 9.79% for retail investors. Additional allocations include 0.7% for employees and 1.4% for existing shareholders.

Pantomath Capital Advisors Pvt. Ltd. is acting as the book running lead manager for the issue, while Kfin Technologies Ltd. has been appointed as registrar.

Anchor Investment

On September 9, Dev Accelerator raised ₹63.15 crore from anchor investors, who were allotted 1.03 crore shares. The lock-in period for these shares extends to 30 days for half of the allocation and 90 days for the remainder.

IPO Timeline

The IPO opened on September 10 and will close on September 12. The basis of allotment is scheduled for September 15, with refunds and credit of shares set for September 16. Trading on the stock exchanges is tentatively expected to begin on September 17.