Shares of Dev Accelerator made a muted debut on the stock exchanges, listing at its initial public offering (IPO) price of ₹61. On the National Stock Exchange (NSE), the stock opened at ₹61, while on the Bombay Stock Exchange (BSE), it saw a slight increase of 0.5% to ₹61.30.
After its listing, the stock gained traction, reaching the upper circuit limit on both exchanges, closing at ₹64.15 on the BSE and ₹64 on the NSE.
Shivani Nyati, Head of Wealth at Swastika Investmart Ltd, pointed out that the company’s modest profit margins and high levels of debt should prompt caution among investors. She advised risk-tolerant investors to consider holding the stock for the medium to long term, with a stop-loss set at ₹50.
The ₹143.35 crore IPO attracted significant interest, achieving a subscription rate of 63.97 times on the final day of bidding. Retail investors accounted for an impressive 164.72 times subscription. Non-institutional investors (NIIs) subscribed at a rate of 87.97 times, while qualified institutional buyers (QIBs) were subscribed 20.30 times.
Promoted by Dev Information Technology Ltd., the IPO consisted solely of a fresh issue of 2.35 crore equity shares, priced between ₹56 and ₹61 per share. The company raised ₹63 crore from anchor investors.
The proceeds from the IPO are intended for various purposes, including fit-outs in new centers, security deposits, debt repayment, strategic initiatives, marketing, brand development, and lease liability payments.
Published on September 17, 2025.
