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Dev Accelerator (DEVX) Listing Today: Ahmedabad-headquartered flexible office space company Dev Accelerator's shares are all set to debut on Dalal Street on Wednsday, September 17. Trading in the stock will begin on exchanges BSE and NSE at 10 am.

The stock will be traded with the symbol DEVX on both bourses.

The listing follows a widely chased public offer for the company. The IPO -- to raise Rs 143 crore -- that was rolled out on September 10 closed on September 12. 

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The IPO comprised fresh equity without an offer-for-sale (OFS). Under the IPO, Dev Accelerator shares were available for bidding in a price range of Rs 56-61 apiece in multiples of 235 units. This translates to Rs 13,160-14,335 per lot.At the end of the three days of bidding, the issue was subscribed 64 times the equity on offer, reflecting strong investor participation across categories. 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. ALSO READ: Upcoming IPOs: SEBI clears public issues of Pine Labs, Hero Motors, Orkla India and three others

What is an IPO listing?

An IPO listing is the process where shares of a company that has just completed its IPO are officially admitted to trade on a stock exchange. 

Once listed, investors who were allotted shares  as well as new investors can deal in these securities just like any listed entity on Dalal Street. 

How is the listing price of an IPO decided?

The listing price is influenced by factors such as IPO price band, overall IPO demand, market conditions and investor sentiment.

However, there is no guarantee that an oversubscribed IPO will make a strong debut, and vice versa. At the end of the day, markets are unpredictable, and so are IPO listings.

Who decides the listing price?

The listing price of a company’s stock on exchanges is determined mainly by market forces on the day of listing. 

There’s no fixed issue price in a listing.

Instead, existing shareholders sell and trade subsequently directly in the open market.

Bourses use a pre-opening auction to discover the listing price based on buy and sell orders, just like normal listed scrips.

What does IPO subscription mean?

IPO subscription refers to the number of times the shares offered in the IPO were bid for by investors. 

For instance, a 60x subscription means demand was 60 times higher than the shares on offer. 

Can allottees sell IPO shares on listing day?

Investors allotted shares in an IPO can sell them as soon as the stock starts trading on the listing day. 

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