Dev Accelerator, India’s flexible Co-working Space player, has resubmitted DRHP to the SEBI for an IPO valued at ₹2.75 crore equity shares, along with the face value of ₹2 each share.
As per the sources, this IPO consists only fresh issue of ₹2.75 crore equity shares, therefore, all the IPO money would go for the company’s purpose and betterment. There is no OFS component. The startup prepares to go public through an initial public offering (IPO).
Furthermore, Pantomath Capital Advisors Pvt. will serve as the lead manager for the offering, while KFIN Technologies Ltd. will be the registrar.
The equity shares will be listed on the BSE and NSE platforms.
Important Updates in the Latest DRHP Filing
New reservations have been introduced for eligible employees and shareholders, with a potential discount for employees—something that was not included in the previous DRHP.
A fresh issue size has increased from ₹2.47 crore to ₹2.75 crore equity shares.
They have also decided to allocate more money towards developing new co-working centers from ₹68.96 crores to ₹87.91 crores.
Loan repayment allocation has extended from ₹30 crore to ₹40 crore, indicating that they are enhancing the balance sheet.
Funds Deployment
A ₹87.91 crore will be towards capital expenditure for new co-working centers, and ₹40 crore for repayment of debt.
The rest of the money is used for general purposes.
DevX company was registered for POC and innovation in 2017, and just after 4 months, it has expanded India’s largest fintech hackathon with DCB Bank. Afterwards, in 2019, they also launched their business in Mumbai.
As per the FY of 2024, it has a total non-current amount of 34,455.71 and 25,055.38 in 2023. This has a total funding of $ 13.3 million and a post-money of $34 million.
The company’s establishment and responsibility for oversight management are under the direction of the company.
Further, this company doesn’t have any important investment in equity instruments, so it would face any price risk. Initially, this company had two main qualities: community and well-designed spaces.
Dev Accelerator IPO Prospectus:
| DRHP Draft Prospectus: | Click Here |
| RHP Draft Prospectus: | To be Updated Soon |
Dev Accelerator Company Financial Report
Amount ₹ in Crores
| Period Ended | Revenue | Expense | Profit After Tax |
| 2022 | ₹31.37 | ₹39.51 | ₹7.51 |
| 2023 | ₹71.37 | ₹87.50 | ₹12.83 |
| 2024 | ₹110.72 | ₹119.50 | ₹0.44 |
Dev Accelerator IPO Valuation – FY2024
Dev Accelerator IPO valuations detail like Earning Per Share (EPS), Price/Earning P/E Ratio, Return on Net Worth (RoNW), and Net Asset Value (NAV) details.
| Earning Per Share (EPS): | ₹347.30 (Basic) |
| Price/Earning P/E Ratio: | N/A |
| Return on Net Worth (RoNW): | 1.50% |
| Net Asset Value (NAV): | ₹4.68 |
Peer Group Comparison
| Company | EPS | PE Ratio | RoNW % | NAV | Income |
| Awfis Space Solutions Ltd | (2.79) | NA | (6.99) | 24.45 | 848.82 Cr. |
Objects of the Issue
- Capital expenditure for fit-outs in the new Centres and for security deposits of the new Centres;
- Repayment and/or pre-payment, in full or part, of certain borrowings availed by our Company including redemption of non-convertible debentures issued by our Company (“NCDs”) in; and
- General corporate purposes.
IPO Lead Managers aka Merchant Bankers
- Pantomath Capital Advisors Private Limited
