Dev Accelerator IPO: Check application status, allotment odds, latest GMP & listing date

Dev Accelerator is likely to finalize the basis of allotment of its shares on Monday, September 15. Applicant bidders will get the messages, alerts or emails for debit of their funds or revocations of their IPO mandate latest by Tuesday, September 16. The coworking solutions player saw a strong response from the investors.

The IPO of Ahmedabad-based Dev Accelerator was open for bidding between September 10-September 12. It had offered its shares in the price band of Rs 56-61 per share with a lot size of 235 shares. The company raised a total of Rs 143.35 crore via IPO, which was entirely a fresh share sale 2,35,00,000 equity shares.

The issue was overall subscribed a strong 63.97 times fetching nearly 14.87 lakh applications, fetching bids for 5,130.21 crore for the issue net of anchor book. The allocation for the qualified institutional bidders (QIBs) was subscribed 20.30 times, while the portion for non-institutional investors' (NIIs) saw bids for 87.97 times. However, the retail investors' quota was booked at 164.72 times.  

Based on the bidding, here are the odds of allotment for Dev Accelerator IPO:

• Big HNI category: 2 investors out of 31 investors will get 3,290 shares (Probability: 6.45 per cent)
• Small HNI category: 2 investors out of 203 investors will get 3,290 shares (Probability: 0.98 per cent)
• Retail category: 2 investors out of 277 investors will get 235 shares. (Probability: 0.85 per cent)  

The grey market premium (GMP) of Dev Accelerator has seen some correction, following a muted bidding and mixed market sentiments. Last heard, the company was commanding a premium of Rs 8 in the unofficial market, suggesting listing gains of 13 per cent for the investors. The GMP stood at Rs 10 on the last day of the bidding.

Established in 2017, Dev Accelerator, commonly known as DevX, provides flexible office spaces, including coworking environments. The company has expanded its presence to 15 centers across India, encompassing major cities such as Delhi-NCR, Hyderabad, Mumbai, and Pune.

Pantomath Capital Advisors is the sole book running lead manager for the Dev Accelerator IPO, while Kfin Technologies is the registrar of the issue. Initiation of refunds and credit of shares will be done on Tuesday, September 16. Shares of the company shall be listed on both BSE and NSE on September 17, Wednesday.

Investors, who had bid for the issue of Dev Accelerator, can check the allotment status on the Bombay Stock Exchange (BSE) website:

1) Visit https://www.bseindia.com/investors/appli_check.aspx

2) Under the issue type, click Equity

3) Under the issue name, select Dev Accelerator Limited in the dropbox

4) Write the application number

5) Add the PAN card ID

6) Click on 'I am not a Robot' and hit search button

Investors can also check the allotment status on the online portal of KFin Technologies Limited (https://kosmic.kfintech.com/ipostatus), the registrar to the issue.

The registrar is a Sebi-registered entity, qualified to act as such and which electronically processes all applications and carries out the allotment process, as per the prospectus. The registrar is responsible for complying with the timelines for updating the electronic credit of shares to successful applicants, dispatching and uploading refunds, and attending to all investor-related queries.

1) Go to the web portal of KFin Technologies Limited

2) Select the IPO in dropbox whose name will be populated only if the allotment is finalized

3) You may be required to select either one of the three modes: Application number, Demat Account number, or PAN ID

4) In application type, select between ASBA and non-ASBA

5) Enter the details of the mode you selected in Step 2

6) For security purposes, fill the captcha accurately

7) Hit submit.