Dev Accelerator IPO allotment: Here's how to check status on NSE, BSE and Kfin Technologies

The ₹143.35-crore mainboard IPO was open for subscriptions from September 10 to September 12.

Dev Accelerator Ltd is expected to finalise the share allotment status for its initial public offering (IPO) on Monday, September 15, after witnessing a robust response from investors. The mainboard IPO closed with an overall subscription of nearly 64 times on the last day of bidding on Friday.

The ₹143.35-crore public offer attracted bids for more than 84.1 crore shares against 1.31 crore shares on offer, as per the stock exchange data.

Dev Accelerator IPO was open for subscriptions from September 10 to September 12.

In the retail category, the IPO was booked 164.89 times, while the Non-Institutional Investors’ (NIIs) segment was subscribed 87.97 times. The Qualified Institutional Buyers (QIBs) category, on the other hand, witnessed a subscription of 20.3 times.

Dev Accelerator IPO comprised only a fresh issue of 2.35 crore shares, with no offer-for-sale (OFS) portion. The IPO price band was fixed at ₹56 to ₹61 per equity share.

The Ahmedabad-based company plans to use ₹73.1 crore of the net IPO funds for fit-outs in the proposed centres. Further, ₹35 crore will be utilised for repayment of borrowings. The remaining portion of the IPO funds will be used for general corporate purposes.

Investors who applied for the IPO shares will be able to check their allotment status online through the websites of the BSE, NSE and issue registrar, Kfin Technologies Ltd.

Steps To Check Dev Accelerator IPO Share Allotment On The BSE

Open the IPO allotment page on the BSE website: https://www.bseindia.com/static/investors/application_statuschecksystem.aspx
Choose 'Equity' as the issue type
Pick Dev Accelerator Ltd from the dropdown menu under issue names
Input your application number or PAN to proceed
Click on search to view your share allotment details
Steps to check IPO allotment status on Kfin Technologies

Go to the link: https://ris.kfintech.com/ipostatus/
Choose 'Dev Accelerator Ltd' from the dropdown menu listing the companies
Select PAN or Application Number or DP/Client ID or Account Number/IFSC to view your allotment status
Provide the required details
Click on 'Submit' for allotment status
Following finalisation of allotment status, Dev Accelerator Ltd is scheduled to initiate refunds for non-allottees and transfer of shares to the Demat accounts of allottees on September 16.

Shares of Dev Accelerator Ltd are tentatively scheduled to be listed on the BSE and NSE on September 17.

Dev Accelerator is one of the largest flex space operators in terms of operational flex stock in Tier 2 markets. Since its inception in 2017, the company has established a presence in both Tier 1 and Tier 2 markets across India, including Delhi NCR, Hyderabad, Mumbai, Pune, Ahmedabad, Gandhinagar, Indore, Jaipur, Udaipur, Rajkot and Vadodara, among others.