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15 Days Price Change

Dev Accelerator IPO

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WEBSITE Inc. Year: 2020 Industry: IT - Software Listed Page

Profile
Issue Size 80.2 Cr
Profile
Price Range 56  to  61 per share
Profile
Min Investment ₹61
Profile
Lot Size 1
Profile
Face Value ₹2
Profile
Draft Prospectus
Invest Before the IPO Goes Live

Buy unlisted shares early and participate in the growth before public listing.

Profile
  • Basic Info
  • IPO Tentative Timetable
  • IPO Lot Size
  • Subscription Status
  • Financials
  • Profit & Loss
  • Balance Sheet
  • Cash Flow
  • Ratios
  • Growth Rates
  • Other info

Overview

We are one of the largest flex space operators in terms of operational flex stock in Tier 2 markets (Source: JLL Report). Specializing in complete Built to Suit Managed Office Solutions for enterprises, we have established a presence across 15 submarkets in India across Tier 1 markets of Delhi NCR, Hyderabad, Mumbai, Pune and Tier 2 markets of Ahmedabad (including Gandhinagar), Indore, Jaipur, Udaipur, and Vadodara (Source: JLL Report). In addition to these, we also have an operational Centre in Rajkot. We commenced our operations in 2017 offering comprehensive office space solutions tailored to the needs of diverse businesses. We provide integrated services from sourcing office spaces, customizing designs, developing spaces and providing technology solutions to providing complete asset management. As on August 31, 2024, we service over 230 clients and have 25 Centers across 11 cities in India, with 12,691 seats covering a total area under management of 806,635 square feet. In addition, we have entered into signed letters of intent (“LOI”) with space owners for 3 additional Centers, including one international Center in Sydney, Australia, and have also entered into a lease deed for setting up a Center in Surat. These upcoming centers will have 11,500 seats aggregating to 897,341 sq. ft. Read More

Basic Info

Face Value 2 per share

Price 56  to  61 per share

P/E (x) 203.3

Sales( Cr.) 159

PAT( Cr.) 2

EPS 0.3

Draft Prospectus

Exchange BSE-NSE

Promoter

Company Promoters

Parth Naimeshbhai Shah Umesh Satishkumar Uttamchandani Rushit Shardulkumar Shah Dev Information Technology Ltd. Jaimin Jagdishbhai Shah Pranav Niranjan Pandya Amisha Jaimin Shah Kruti Pranav Pandya

Pre Issue Share Holding 49.8%

Post Issue Share Holding 36.81%

Listing Details:

Listing Price: 61.3

Listing Gain: 0.49%

Current Price: 37.9

Gain On Issue: 37.9 | 0%

GMP: --

GMP %: -- %

IPO Tentative Timetable

Opening Date Sep 10, 2025
Closing Date Sep 12, 2025
Allotment Sep 15, 2025
Refund Sep 16, 2025
Delivery of Shares Sep 16, 2025
Listing Date Sep 17, 2025

IPO Lot Size

Application Lots Shares Amount
Retail (Min) 1 235 14,335
Retail (Max) 13 3055 186,355
S-HNI (Min) 14 3290 200,690
S-HNI (Max) 69 16215 989,115
B-HNI (Min) 70 16450 1,003,450

Objective of the Issue

1. Capital expenditure for fit-outs in the new Centres and for security deposits of the new Centres 2. Repayment and/or pre-payment, in full or part, of certain borrowings availed by our Company including redemption of non-convertible debentures issued by our Company (“NCDs”) in 3. General corporate purposes.

Issue

Category Nos Bid Bid (x)
QIB 6901950 140134965 20.3x
NII 3450975 303578875 88x
Retail 2300650 378952540 164.7x
EMP 164500 2897315 17.6x
Total 13147075 841019175 64x

Net Sales (in cr.)

Total Income (in cr.)

Operating Profit (in cr.)

Net Profit (in cr.)

Shareholder Funds (in cr.)

Total Assets (in cr.)

Dev Accelerator Profit & Loss

#(Fig in Cr.) Mar 2022 Mar 2023 Mar 2024 Mar 2025 TTM
Net Sales 31 70 108 159
Other Income 0 1 3 19
Total Income 31 71 111 178
Total Expenditure 17 40 44 78
Operating Profit 14 31 67 100
Interest 7 17 31 45
Depreciation 15 30 45 52
Exceptional Income / Expenses 0 0 0 0
Profit Before Tax -8 -16 -9 3
Provision for Tax -1 -3 -9 1
Profit After Tax -8 -13 0 2
Adjustments -0 0 -0 -0
Profit After Adjustments -8 -13 0 2
Adjusted Earnings Per Share -1.5 -2.4 0.1 0.3

Dev Accelerator Balance Sheet

#(Fig in Cr.) Mar 2022 Mar 2023 Mar 2024 Mar 2025
Shareholder's Funds -2 1 29 55
Minority's Interest 0 0 0 0
Borrowings 11 24 70 99
Other Non-Current Liabilities 64 180 189 223
Total Current Liabilities 27 73 110 150
Total Liabilities 100 278 398 526
Fixed Assets 79 228 269 293
Other Non-Current Assets 10 28 62 129
Total Current Assets 11 22 67 103
Total Assets 100 278 398 526

Dev Accelerator Cash Flow

#(Fig in Cr.) Mar 2022 Mar 2023 Mar 2024 Mar 2025
Opening Cash & Cash Equivalents 1 2 1 1
Cash Flow from Operating Activities 14 26 8 94
Cash Flow from Investing Activities -7 -24 -41 -38
Cash Flow from Financing Activities -6 -4 33 -53
Net Cash Inflow / Outflow 1 -1 -0 3
Closing Cash & Cash Equivalent 2 1 1 3

Dev Accelerator Ratios

# Mar 2022 Mar 2023 Mar 2024 Mar 2025
Earnings Per Share (Rs) -1.52 -2.37 0.07 0.26
CEPS(Rs) 1.57 0 0 8.1
DPS(Rs) 0 0 0 0
Book NAV/Share(Rs) -1.15 -0.44 4 7.68
Core EBITDA Margin(%) 45.17 42.62 59.75 50.67
EBIT Margin(%) -3.09 1.77 20.71 29.74
Pre Tax Margin(%) -26.63 -22.95 -7.97 1.7
PAT Margin (%) -24.32 -18.35 0.4 1.12
Cash Profit Margin (%) 25.25 24.7 42.04 33.98
ROA(%) -7.53 -6.79 0.13 0.38
ROE(%) 0 0 3.82 4.64
ROCE(%) -8.12 5.35 27.25 29.97
Receivable days 23.01 14.61 26.22 62.2
Inventory Days 0.92 0.9 0 0
Payable days 0 0 0 0
PER(x) 0 0 0 0
Price/Book(x) 0 0 0 0
Dividend Yield(%) 0 0 0 0
EV/Net Sales(x) 0.51 0.52 0.96 0.91
EV/Core EBITDA(x) 1.09 1.16 1.55 1.45
Net Sales Growth(%) 0 126.37 54.61 46.99
EBIT Growth(%) 0 229.56 1710.84 111.12
PAT Growth(%) 0 -70.79 103.41 305.72
EPS Growth(%) 0 -56.54 102.89 278.02
Debt/Equity(x) -6.53 27.17 3.51 2.39
Current Ratio(x) 0.4 0.31 0.61 0.69
Quick Ratio(x) 0.4 0.3 0.61 0.69
Interest Cover(x) -0.13 0.07 0.72 1.06
Total Debt/Mcap(x) 0 0 0 0

Sihora Industries Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR 47% 72% 0% 0%
Operating Profit CAGR 49% 93% 0% 0%
PAT CAGR 0% 0% 0% 0%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR NA% NA% NA% NA%
ROE Average 5% 3% 2% 2%
ROCE Average 30% 21% 14% 14%

Company Contact Information

Dev Accelerator Ltd.

Anjan Trivedi

7041482004

compliance@devx.work

C-01, The First Commercial Complex Behind Keshavbaug Party Plot Near Shivalik High Street, Vastrapur

IPO Lead Manager(s)

Dev Accelerator Ltd.

Pantomath Capital Advisors Pvt Ltd.

Registrar Info

Dev Accelerator Ltd.

K FIN Technologies Ltd.-(Karvy Fintech Pvt Ltd.)

Karvy Selenium Tower B, Plot 31-32 Gachibowli,Financial District, Nanakramguda Hyderabad – 500032 Tel. No. 040 67161500 Fax. No. 040 23001153 E-mail: einward.ris@karvy.com Website: www.karvy.com Toll Free No. of exclusive Call Centre:1-800-345001

040 - 67162222/18003094001

einward.ris@kfintech.com

https://www.kfintech.com

Frequently Asked Questions

All You Need To Know About IPO

When you leave without vesting, generally unvested ESOPs are cancelled. Vested ESOPs usually can be exercised after you depart, often within 3 to 6 months, depending on the company's ESOP plan.

For companies listed on a stock exchange, you can sell the shares any time after you exercise the ESOP option and the shares are in your demat account. If the company is unlisted or otherwise a startup, you can only sell the shares if and when the company announces a buyback or has a process for secondary sales.

Whenever you exercised your options to hold shares, you entered into a market risk situation, and if the valuation of the company drops, so do the shares.

Yes. ESOPs are valuable to the employer in that the employer is able to retain the best talent, align employee interests with company goals, and preserve cash while rewarding performance.

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