Dev Accelerator Ltd Surges Over 5% After Market Debut

Dev Accelerator Ltd's shares showed a strong start despite an initial flat market debut, surging over 5% post-listing. Valued at Rs 578.01 crore, the IPO was entirely a fresh equity issue, aimed at funding new centers and corporate strategies. Plans include expanding into major cities across India.

Shares of Dev Accelerator Ltd experienced a flat initial market debut on Wednesday, quickly reversing to climb over 5% from the issue price of Rs 61.

The stock opened marginally higher at Rs 61.30 on the BSE, before escalating to Rs 64.36, reaching the upper circuit limit. On the NSE, it followed a similar trajectory, rising to Rs 64.05.

Dev Accelerator, backed by Dev Information Technology Ltd, witnessed its IPO subscription hit 63.97 times. The capital raised will fund new center expansions and other strategic objectives across major Indian cities.

(With inputs from agencies.)