Dev Accelerator IPO
Dev Accelerator Limited (DEVX) · mainboard IPO on NSE and BSE · 100% Book Building. Listed on 17 September 2025.
Issue details
Listing day
Back-tested estimate (from a model that had only seen earlier years' IPOs): listing gain +24.3% (likely range -6% to +71%), day's high +34.8%, chance of a gain 82%. Actual: 0.0% at the open, +5.0% at the high.
Subscription status
| Category | Shares offered | Shares bid for | Subscribed | |
|---|---|---|---|---|
| QIB (institutions) | 69,01,950 | 14,01,34,965 | 20.3x | |
| NII (HNI) total | 34,50,975 | 30,35,78,875 | 88.0x | |
| Big NII (above ₹10 lakh) | 23,00,650 | 18,16,20,690 | 78.9x | |
| Small NII (₹2-10 lakh) | 11,50,325 | 12,19,58,185 | 106x | |
| Retail | 23,00,650 | 37,89,52,540 | 165x | |
| Employees | 1,64,500 | 28,97,315 | 17.6x | |
| Shareholders | 3,29,000 | 1,54,55,480 | 47.0x | |
| Total | 1,31,47,075 | 84,10,19,175 | 64.0x |
Bids on NSE and BSE together, as published by NSE, as of 12 Sep 2025, 07:00 PM. Shares offered exclude the anchor portion. 38% of all shares bid for were at the cut-off price.
Past IPOs with similar demand
Earlier mainboard IPOs whose QIB, NII and retail subscription and size were closest to Dev Accelerator's, and how they listed.
| IPO | QIB | NII | Retail | Total | Size | Listing gain | Day high |
|---|---|---|---|---|---|---|---|
| Amanta HealthcareSep 2025 | 35.9x | 209x | 55.0x | 82.6x | ₹126 Cr | +7.1% | +12.5% |
| Supriya LifescienceDec 2021 | 31.8x | 161x | 56.0x | 71.5x | ₹724 Cr | +53.6% | +53.6% |
| Deepak Builders & Engineers IndiaOct 2024 | 13.9x | 82.5x | 39.8x | 41.5x | ₹260 Cr | -1.5% | -1.5% |
| Sigachi IndustriesNov 2021 | 86.5x | 172x | 80.5x | 102x | ₹125 Cr | +249.7% | +267.2% |
| Senores PharmaceuticalsDec 2024 | 94.7x | 96.3x | 90.5x | 93.7x | ₹603 Cr | +53.5% | +55.9% |
| Nova AgritechJan 2024 | 79.3x | 224x | 77.1x | 109x | ₹148 Cr | +34.1% | +40.9% |
Lead managers and their listing record
| Book running lead manager | Mainboard IPOs since 2019 | Avg listing gain | Listed at a premium |
|---|---|---|---|
| Pantomath Capital Advisors | 19 | +20.0% | 79% |
Offer documents (NSE)
Frequently asked
What is the Dev Accelerator IPO price band and lot size? ₹56.0–61.0 per share, with a lot of 235 shares, so the smallest retail bid is ₹14,335.
How many times has it been subscribed? 64.0x overall: QIB 20.3x, NII 88.0x, retail 165x, employees 17.6x.
How did it list? It opened at ₹61.0, +0.0% against the issue price of ₹61.0, and closed its first day +5.0%.
