Dev Accelerator shares surge to upper circuit after flat listing at ₹61

Shares of Dev Accelerator made a flat debut on the stock exchanges, listing at par with its IPO price of ₹61. On the National Stock Exchange (NSE), the stock opened at ₹61, while on the BSE, it inched up 0.5 per cent to ₹61.30.

Post-listing, the stock gained momentum, hitting the upper circuit on both bourses at ₹64.15 on the BSE and ₹64 on the NSE.

Shivani Nyati, Head of Wealth at Swastika Investmart Ltd, emphasised that the company’s modest profit margins and high debt levels warrant caution. Risky investors can hold for medium to long term with stop loss of ₹50.

₹143.35-cr IPO sees 63.97x subscription

The IPO, which was closely watched in the market, indicateed a healthy demand for emerging companies in the capital markets. The 143.35-crore IPO received 63.97 times subscription on the final day of bidding.

Retail investors garnered 164.72 times subscription. The category for non-institutional investors (NIIs) received 87.97 times subscription, while the qualified institutional buyers (QIBs) quota got subscribed 20.30 times.

The IPO, promoted by Dev Information Technology Ltd., was entirely a fresh issue of 2.35 crore equity shares worth ₹143.35 crore at a price band of ₹56-61 per share.

The company secured ₹63 crore from anchor investors.

It proposed that the proceeds from the issue will be used for fit-outs in new centres and their security deposits, debt repayment and general corporate purposes such as strategic initiatives, marketing, brand building, and lease liability payments.

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Published on September 17, 2025