Dev Accelerator has secured in-principle approval from the National Stock Exchange of India Limited and BSE Limited to issue 77.77 lakh equity shares through the conversion of warrants and a preferential basis. The approval, granted on June 08 and June 09, 2026, covers the issuance of 33,33,330 equity shares of Rs. 2/- each pursuant to the conversion of warrants and 44,44,440 equity shares of Rs. 2/- each on a preferential basis. This move is aimed at raising capital while adhering to the regulatory framework set by the Securities and Exchange Board of India (SEBI).

The approvals were issued vide letter NSE/LIST/54231 dated June 09, 2026, by the NSE and letter LOD/PREF/KS/FIP/343/2026-27 dated June 08, 2026, by the BSE. The exchanges have stipulated that the company must fulfil several conditions before the allotment and listing of these securities. Key requirements include filing the listing application immediately after allotment and obtaining all necessary statutory approvals from authorities such as SEBI, RBI, and the Ministry of Corporate Affairs.

Regulatory Conditions and Compliance

The exchanges have emphasized the need for Dev Accelerator to strengthen its internal controls to monitor trades executed by the proposed allottees. This measure is intended to prevent non-compliances regarding trades that might contravene the provisions of Chapter V of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018. Specifically, the company must obtain an undertaking from allottees confirming they will not engage in intra-day trading or sell any shares in the company until the allotment date.

The responsibility for verifying this compliance rests solely with the issuer company. Any non-compliance observed by the exchanges post-allotment could impact the listing of the newly issued shares. Furthermore, the company must ensure full compliance with the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Companies Act, 2013, and other applicable laws as of the date of listing.

Issue Details

The preferential issue involves specific pricing and allocation details as outlined in the regulatory filings. The warrants are to be issued to promoters, while the preferential allotment is directed towards non-promoters. The following table summarizes the key details of the approved issue:

The company is required to submit a listing application within twenty days from the date of allotment, as per Schedule XIX of the ICDR Regulations and a specific SEBI circular dated June 21, 2023. Failure to comply with this timeline may result in penalties. The exchanges have also reserved the right to withdraw the in-principle approval if any information provided is found to be incomplete, incorrect, or misleading.

Dev Accelerator Limited has strengthened its presence in Bengaluru by acquiring two premium Grade A+ office assets in partnership with Prestige Group. The expansion spans 1.11 lakh sq ft and adds over 1,200 seats to the company's portfolio. This strategic scale-up in the Outer Ring Road micro-market is expected to generate approximately ₹2.2 crore in monthly revenue.

The first asset is located at Lakeshore Drive opposite Bellandur Lake within a 90-acre corporate campus. This premium asset is designed to cater to enterprise requirements and is expected to launch on August 1, 2026. The company will invest approximately ₹10 crore towards fit-outs and infrastructure development for this facility.

The second development, Prestige Featherlite Tech Hub, is an integrated Grade A+ asset focusing on the Walk to Work model. It targets occupiers prioritising reduced commute times and operational efficiency. Securing these assets strengthens the company's footprint in one of Asia's largest IT corridors.

Financial and Operational Overview

The expansion details are summarised below:

Management Commentary

Umesh Uttamchandani, Managing Director of Dev Accelerator Limited, stated that expanding within Bengaluru's Outer Ring Road aligns with long-term demand consolidation. He noted strong demand from AI-native global capability centers (GCCs) in manufacturing and retail sectors. Juggy Marwaha, CEO & Executive Director of Prestige Group, added that the collaboration supports the creation of sustainable Grade A+ ecosystems for global enterprises.

Dev Accelerator Limited operates 28 centres across multiple Indian cities with over 17,000 seats and 1.2 million sq. ft. under management.