There is a new issue of 2.35 crore equity shares in IPOs, priced at Rs 61. The subscription window will be open for three days, Friday, September 12, will close.
Dev Accelerator IPO GMP Today:
Dev accelerator IPO is Rs. The gray market is looking strong with a 13.11% premium above the issue of issue above 61, which indicates a potential list around 70. GMP is subject to market emotions and can fluctuate. The unlisted market price (GMP) is only an indicator and may vary significantly in the list.
Dev Accelerator IPO Details:
Ahmedabad -based Flexible Workspace provider Dave Accelerator has a new issue of 2.35 crore equity shares. 143 crore. At the top of the price band, the IPO indicates a post-issue market capitalization of about 550 crore.
The company has given the IPO price band to Rs. 56 to Rs. 61 are created. The issue will be open for subscription from September 10 to September 12.
According to the Red Hering Prospectus, the minimum bid flour is 235 shares, which is Rs 13,160 on the lower end and the price of Rs 14,335 at the upper part of the band. Retail investors can apply for a maximum of 13 lots, while HNI And institutional investors are allowed to increase greater limit.
IPO allocation is divided with 75% reserved for eligible institutional buyers (QIB), 15% allocated to non-institutional investors (NIIS) and remaining 10% with retail personal investors (RIIs). In addition, employees and gods will be part of the offering fur of the current shareholders of information technology.
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Company’s background
Dev accelerator is a unified workspace solution provider that serves corporates, start-ups and individuals. Its ings furings range from single desk to special client with Xs. The company operates using multiple asset procurement models, such as direct lease, revenue share, homeowner equipped and opco – propco.
The company has expanded both Tier -1 and Tier -2 cities, with the presence of Delhi NCR, Hyderabad, Mumbai, Pune, Ahmedabad, Gandhi Nagar, Indore, Jaipur, Udipur, Rajkot and Vadodara. Its comprehensive services include design, development, technical integration and complete asset management.
Industry context
IPOs are being launched amid strong growth in the field of flexible workspace in India. Industry data suggests that in 2024 there are 20% flexible workspace of 20% in 2024 in 2024 in the country’s largest offtime. Flex space inventory has increased significantly, which increased from 18.6 million square feet in 2018 to 74 million square feet in 2024, reflecting the annual growth rate (CAGR), which highlights the increasing importance of this segment.
Financial and IPO moving forward
Dev Axiller has shown steadily growth in recent years, with revenue in FY 25, reaching 159 million. After taxes, the profit was seen significantly, which was Rs. 1.8 crore.
The company intends mainly to use IPO funds for capital costs, some debt payments and general corporate purposes at new centers.
Pentomath Capital Advisors are serving as a lead manager book for this issue, while CFIN technologies are registrars. With the date of the temporary list of September 17, stocks are expected to be listed on both BSE and NSE.
Should you bid?
According to a research report of SBI Securities on Dev Accelerator’s IPO, the value of the stock is multiple on the high price band of Rs 61, the value/sales ratio of X.5x and the EV/EBITDA of 6.6X on the basis of capitalization of the issue.
The company became profitable in the financial year 24 and Rs. 1.8 crore, mainly, low profitability due to interest and depreciation costs, mainly related to lease responsibilities.
Despite this, there has been strong growth in revenue, posting CAGR of over 50% between the financial year 23 and the financial year 25. The company’s debt is elevated at 2.4X on the Ratio FY22, although it is expected to be reduced by about 1X after the IPO.
Following this issue, the promoter shareholding will thin about 37%. SBI Securities maintains a neutral view on the accelerator and chooses to monitor its influence compared to the main allies after post-listing.
(Connection: The recommendations, suggestions, opinions and opinions provided by experts have their own. This does not represent opinions of economic time)
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