-- / --
IPO Details
Issue Date
--
Investment/lot
--
Price Range
--
Lot Size
--
IPO Size
N/A
IPO Timeline
Issue Highlights
Initial public offering of up to 24,700,000 equity shares of face value of Rs.2 each (equity shares) of Dev Accelerator Limited (company or issuer) for cash at a price of Rs.[] per equity share (including. a share premium of Rs.[] per equity share) (issue price) aggregating up to [] crores (issue) comprising a fresh issue of up to 24,700,000 equity shares by the company aggregating up to Rs.[] crores (fresh issue). The issue shall constitute [*]% of the post-issue paid-up equity share capital of the company. The price band and the minimum bid lot, will be decided by the company, in consultation with the brlm.
Book Running Lead Managers
The Book Running Lead Manager (BRLM) for the issue is Pantomath Capital Advisors Private Limited.
Anchor Investors
According to the sources, up to Equity Shares of face values ₹ 2 each are a part of Anchor Investor Portion. But is lacking a precise list of anchor investors.
About Dev Accelerator Ltd
Operations Company Dev Accelerator Limited(s) runs a chain of flexible spaces in India, which are mostly used by startups, freelancers and companies seeking adaptable workspaces. The firm's network sprawls 11 cities as of Aug 31, 2024, and encompasses an aggregate area of 806,635 sq. Dev Accelerator Limited is focused on growing its market location presence with new centres in strategic locations.
Dev Accelerator Ltd Business Model
Dev Accelerator Limited has the following revenue streams:
-
Flexibility in workspaces: The company rents out desks and suits that suit individuals and firms.
-
Adapting to changing workplace trends: The Dev Accelerator is designed for the needs of 21st-century businesses, including remote work and flexible lease provisions.
-
Market expansion: The firm wants to leverage the increasing requirement for flexible work spaces and grow its footprints in India.
Dev Accelerator Ltd Growth Trajectory
The company recorded a CAGR of 87.08% for revenue from operations during FY 2022-FY 2024. Despite reporting losses initially, it was able to turn profitable during FY 2024 and has shown an overall positive profit after tax growth trajectory as well.
Key Points about Dev Accelerator Ltd:
Objectives of the IPO
They plan on using the money raised from the IPO for:
- Capital expenditure related to fit-outs and security deposits for new centres
- Repayment or prepayment of specific borrowings, for example redemption of non-convertible debentures (NCDs)
- General corporate purposes.
Potential Benefit for Investors
Both sources don't get into the specifics about the possible advantages for investors but do offer little insights:
- Flexible workspace sector is on the rise, and it should say we gone above 122 million sq. ft. by 2028 in India.
- Expansion Plans: The intention of Dev Accelerator Limited to grow its network of centers have potential to increase revenue and gain market share.
Key Financials
| Particulars | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|
Revenue from operations (₹ in million) | 1,081 | 699 | 309 |
Total Equity (₹ in million) | 288 | 12 | -21 |
Return on Net Worth (%) | 1.5 | -1,049.92 | 353.39 |
All Financial Information about Dev Accelerator Ltd
Comprehensive financial data, including revenue, profit/loss statements, EBITDA, and other critical metrics.
Particulars (in Rs. million)
Particulars (in Rs. million)
Promoters of Dev Accelerator Ltd
| Promoter | Designation |
|---|---|
Parth Shah | Chairman and Whole-time Director |
Umesh Uttamchandani | Managing Director |
Rushit Shah | Whole-time Director |
Dev Information Technology Limited | Corporate Promoter |
Peer Comparison:
| Metric | Dev Accelerator Limited | Awfis Space Solutions Ltd. |
|---|---|---|
Face Value (₹ per share) | 2 | 10 |
Price to Earnings (P/E) Ratio | NM | |
Basic & Diluted EPS (₹) | 0.08* | -2.79 |
Return on Net Worth (RoNW) (%) | 1.50 | -7 |
Net Asset Value (NAV) per share (₹) | 4.68* | 24.45 |
Dev Accelerator IPO Strengths
Technology & Innovation Are Central
Positioned as a tech-enabled flexible workspace provider, Dev Accelerator Limited incorporates technology to improve the user experience and streamline processes.
Wide range of customer base
The business serves startups, freelancers, SMES and large enterprises. Having more than one customer segment helps in maintaining the risk of not having many customers that are only from a single segment.
The company has a strong and diverse experience in the setting of directors throughout real estate, technology, and business development.
Dev Accelerator Ltd Risk Factors
-
Competition: Dev Accelerator is subject to fierce competition from both established and new companies in the flexible workspace market. This might result in stiff competition affecting prices and market share.
-
Economic factors: The performance of the business is affected by economic changes. Decreased demand for workspaces during an economic downturn, affects revenue and profit.
-
Reliance on major clients: Dev Accelerator derives a substantial chunk of its revenue from a few important clients. The company’s numbers can be affected if it loses out on these key client.
Key Strategies of Dev Accelerator Ltd
Sources do not make it clear what Dev Accelerator's main moves are. But the company's potential plays — at least as far as current data suggests — are likely:
Dev Accelerator will expand its current footprint into more cities and push deeper in existing markets to capture a larger share of the flexible workspace opportunity set.
-
Improving the customer experience: The firm would continue to be focused on providing better customer service and improving the amenities and services for clients.
-
Strategic partnership: A combination between Dev Accelerator and others businesses or organizations will give direct access to new customers and markets which help the growth.
