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Dev Accelerator IPO News: Ahmedabad-headquartered flexible office space provider Dev Accelerator's initial public offer, to raise around Rs 143 crore, ends for subscription on Friday, September 12. The IPO comprises the issuance of fresh shares without an offer-for-sale (OFS), which means that the entire proceeds will go to the company. 

Here's everything you need to know about this IPO, especially if you are planning to bid for or have already applied for shares under the offer: 

Under the IPO, Dev Accelerator shares are available for bidding in a price range of Rs 56-61 apiece in multiples of 235 units. 

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This translates to Rs 13,160-14,335 per lot. For the unversed, this is the amount of money that participants need to register their bids for the IPO. 

The allotment will tentatively be finalised on September 15 followed by a listing on stock exchanges BSE and NSE tentatively on September 17.

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By 12:21 pm, the IPO received bids for 41 crore shares against the 1.31 crore shares on offer, a subscription of 31.2 times, according to provisional exchange data. 

The portions reserved for qualified institutional buyers (QIBs), non-institutional investors (NIIs) and retail individual investors (RIIs) were booked 2.5 times, 42.2 times and 102.8 times, respectively.

The IPO opened for subscription on September 10. 

Prior to the issue launch, the company raised a sum of Rs 63.2 crore from anchor investors. 

For the year ended March 31, the company registered a net profit of Rs 1.74 crore, marking a four-fold increase over its net profit the previous year.

Its top line increased 61.6 per cent on a year-on-year basis to Rs 178.9 crore, according to its IPO papers.

The company's annual earnings before interest, tax, depreciation, and amortisation (EBITDA) stood at Rs 80.5 crore, as against Rs 64.7 crore a year ago. 

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