Company Intelligence Profile
Dev Accelerator Limited
Dev Accelerator Limited (DevX) runs managed coworking and flexible office spaces across more than 12 Indian cities, with a focus on Tier-2 cities.
CIN: U74999GJ2020PTC115984ActiveRegistrar of Companies, Gujarat
Last updated 28 October 2026
AI OverviewGenerated from public records
Dev Accelerator Limited, known as DevX, designs, builds and manages coworking and flexible office spaces in India. It was incorporated on 29 Aug 2020 and is registered in Gujarat, with its office in Ahmedabad. The company reported revenue of ₹171 Cr for FY2025-26. It raised ₹143.35 Cr through a fresh-issue IPO and listed on NSE and BSE on 17 Sep 2025.
AI-generated summary from public filings and may contain errors. Verify against the detailed sections below.
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Company Identity
| Registered name | Dev Accelerator Limited |
|---|---|
| CIN | U74999GJ2020PTC115984 |
| PAN | AAHCD9502C |
| Status | Active |
| Listing | Listed |
| Incorporated | 29 August 2020 (originally an LLP structure traces to 14 Sep 2017 |
| ROC | Registrar of Companies, Gujarat (Ahmedabad). |
| Sector (NIC) | Construction & Real Estate |
| Registered address | C-01, The First Commercial Complex, B/S Keshavbaug Party Plot, Vastrapur, Ahmedabad, Gujarat 380015, India. |
| Authorized capital | ₹30.0 Cr |
| Paid-up capital | ₹16.92 Cr pre-IPO |
Source: MCA records via tofler.in
Business Overview
- DevX designs, builds and manages office and coworking spaces, from site selection to interiors and day-to-day operations.
- It serves 250+ enterprise clients with 1.5M+ sq ft of managed workspace across 12+ cities.
- Cities include Ahmedabad, Pune, Noida, Jaipur, Hyderabad, Mumbai and Surat.
- The company was incorporated on 29 Aug 2020 and is listed on NSE and BSE.
Directors
| Name | DIN | Role | Appointed |
|---|---|---|---|
| Yash Himanshu Shah | 06698067 | Director | - |
| Jaiminbhai Jagdishbhai Shah | 00021880 | Director | - |
| Umesh Satishkumar Uttamchandani | 07496423 | Director & Co-founder | - |
| Rushit Shardulkumar Shah | 07496984 | Director & Co-founder | - |
| Parth Naimeshbhai Shah | 07496443 | Director & Co-founder | - |
| Gopi Trivedi | 05004124 | Director | - |
| Anand Anilbhai Patel | 00002277 | Director | - |
| Anish Alerk Patel | 00034602 | Director | - |
| Pathik Shailesh Patwari | 02428297 | Director | - |
| Praveen Kumar | 09617351 | Director | - |
Source: MCA records via tofler.in
GST Registration
| GSTIN | State | PAN | Status |
|---|---|---|---|
| 24AAHCD9502C2Z0 | Gujarat | AAHCD9502C | - |
| 23AAHCD9502C1Z3 | Madhya Pradesh | AAHCD9502C | - |
| 36AAHCD9502C1ZW | Telangana | AAHCD9502C | - |
Financials
FY2025-26
- Revenue ₹171 Cr
- EBITDA ₹103 Cr
- Net profit ₹3 Cr
- Net worth ₹180 Cr
- Borrowings ₹226 Cr
FY2023-24
- Net worth ₹25.4 Cr
- Borrowings ₹266.5 Cr
- Total assets ₹411.1 Cr
Source: screener.in
Funding
- IPO: ₹143.35 Cr fresh issue, price band ₹56-61, opened 10 Sep 2025 and closed 12 Sep 2025.
- Anchor round: ₹63 Cr from 11 anchor investors at ₹61 per share.
- Listed on NSE (DEVX) and BSE (544513) on 17 Sep 2025.
Charges & Borrowings
| MITCON Credentia | ₹64.2 Cr across 4 loan facilities |
|---|---|
| Tata Capital Limited | ₹25 Cr |
| ICICI Bank | ₹10 Cr |
Source: MCA records via tofler.in
Legal & Compliance
- Delhi High Court, 2025: Dev Accelerator Limited is the petitioner against Noida Cyber Park Private Limited in an arbitration-related interim measures matter, case O.M.P.(I) (COMM.) 1/2025.
- Orders were passed on 3 Jan 2025, 13 May 2025, 19 May 2025, 21 May 2025, 25 Jul 2025 and 1 Aug 2025.
Source: indiankanoon.org
Competitors
Awfis Space Solutions
listed coworking operator with a wide metro footprint
Smartworks Coworking Spaces
listed, enterprise-focused workspace operator
WeWork India
large premium coworking operator in major metros
IndiQube
managed workspace operator across metro and Tier-2 cities
Table Space
enterprise managed office provider
91springboard
coworking for startups and small businesses
Frequently Asked Questions
What does Dev Accelerator Limited do?
Dev Accelerator Limited, known as DevX, designs, builds and manages coworking and flexible office spaces. It serves 250+ enterprise clients across 12+ Indian cities, with a focus on Tier-2 cities.
When was Dev Accelerator Limited incorporated?
Dev Accelerator Limited was incorporated on 29 Aug 2020. It later became a public company and listed on NSE and BSE on 17 Sep 2025.
What is the CIN of Dev Accelerator Limited?
The CIN of Dev Accelerator Limited is U74999GJ2020PTC115984.
Where is Dev Accelerator Limited registered?
It is registered with the Registrar of Companies, Gujarat (Ahmedabad). The registered office is at C-01, The First Commercial Complex, Vastrapur, Ahmedabad, Gujarat 380015.
Who are the directors of Dev Accelerator Limited?
Directors include Yash Himanshu Shah, Jaiminbhai Jagdishbhai Shah, Umesh Satishkumar Uttamchandani, Rushit Shardulkumar Shah, Parth Naimeshbhai Shah, Gopi Trivedi, Anand Anilbhai Patel, Anish Alerk Patel, Pathik Shailesh Patwari and Praveen Kumar.
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