Dev Accelerator IPO dropped on September 10, 2025, and it’s got the market buzzing like a beehive! This Gujarat-based coworking star, better known as DevX, is turning heads with its grey market premium (GMP) hinting at a sweet 14 To 18% gain when it lists on September 17. Shares are trading ₹9 to ₹11 above the issue price in the grey market, and investors are eating it up. Let’s dive into what’s got everyone so excited about this IPO and why it’s worth a look.
Why’s the Grey Market Going Nuts?
Picture this: the grey market is like the stock market’s backstage, where shares trade unofficially before they hit the big stage. For Dev Accelerator, the GMP is rocking at ₹9–₹11 as of today, September 10. With the IPO’s top price at ₹61, that means shares could list around ₹70–₹72, promising a 16% or so jump. Just a few days back, on September 8, the GMP was ₹10, up from ₹9 on September 6, showing investors are pretty stoked.
Dev Accelerator IPO was a smash hit right out of the gate, getting fully subscribed in just an hour, with 1.15 times the shares applied for. Retail investors are leading the charge, grabbing their portion over three times, while the big dogs—non-institutional investors and qualified institutional buyers—are also piling in. This kind of hype in the grey market and subscription frenzy tells you one thing: DevX is the talk of the town.
What’s the Deal with Dev Accelerator’s IPO?
DevX, or Dev Accelerator Ipo, has been shaking up the coworking scene since 2017. This ₹143.35 crore IPO is all fresh shares—2.35 crore of them, no old shares being sold off. The price range is ₹56 to ₹61 per share, and if you’re a retail investor, you’ll need to snag at least 235 shares, which’ll set you back ₹14,335 at the high end.
The money’s going toward big plans: setting up new coworking spaces, covering security deposits for future locations, paying off some loans (including non-convertible debentures), and a bit for general expenses. Pantomath Capital Advisors is running the show as the lead manager, with Kfin Technologies as the registrar. Mark September 17 for the listing on BSE and NSE, with allotments expected by September 15.
Why DevX Is a Big Deal
Dev Accelerator IPO- DevX isn’t just another office-space provider. They’re killing it in Tier-2 cities like Ahmedabad, Indore, Jaipur, Udaipur, and Vadodara, while also holding their own in big cities like Mumbai, Delhi NCR, and Hyderabad. As of May 31, 2025, they’ve got 28 centres across 11 cities, serving over 250 clients with 14,144 seats and 860,522 square feet of space. By August 31, 2024, they were running 25 centres with 12,691 seats.
Anand Rathi Research is all about DevX, raving about its packed centres and smart picks for locations, especially in smaller cities. They’re also branching out with Saasjoy, a platform for HR, IT, and software services to keep clients coming back. Plus, their associate, Scaleax Advisory, helps global capability centres with talent and payroll. With four new centres planned over the next two years, adding 664,692 square feet, DevX is ready to level up.
Should You Hop on This IPO Train?
Brokerages are giving Dev Accelerator a big thumbs-up. Anand Rathi says “Subscribe – Long Term,” noting that while the IPO’s priced high at 305x FY25 P/E and 3.5x P/S (with a post-issue market cap of ₹5,501 million), its growth story makes it a solid pick. Reliance Securities also shouts “Subscribe,” pointing to DevX’s edge in Tier-2 markets and plans to go global.
Dev Accelerator IPO: GMP is like a vibe check—it shows what investors are feeling, but it’s not a sure bet. With strong subscription numbers and a GMP pointing to 16% gains, DevX looks tempting. Still, do your homework. Check out the company’s fundamentals and market trends before you jump in with both feet.
The Bottom Line
Dev Accelerator’s IPO is off to a killer start, with its GMP and subscription numbers screaming “big potential” for its September 17 listing. With the subscription window open until September 12, 2025, investors are keeping a close eye. Whether you’re a small-time player or a market pro, DevX’s coworking empire is hard to ignore. Stay tuned for more updates, and happy investing!
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