Dev Accelerator vs Shringar vs Urban Co: Which IPO to Pick?

The September 2025 IPO market in India is getting hot. Three mainboard IPOs are ready to hit the D Street. All these IPOs are open from 10 September to 12 September and will tentatively list on 17 September 2025. All three companies are from different sectors and are indicating good listing gains in the grey market.

 

These IPOs are:

1. Dev Accelerator IPO → The company manages office spaces and coworking spaces.

2. Shringar House of Mangalsutra IPO → The company deals in mangalsutras and gold jewelry.

3. Urban Company IPO → The company holds a marketplace for tech-enabled home services.

 

For investors, the key question is: Which IPO is riskier and which is better? Let's make a comparison between them.

Dev Accelerator IPO vs Shringar House of Mangalsutra IPO vs Urban Company IPO: Detailed Comparison

Particulars	Dev Accelerator IPO	Shringar House of Mangalsutra IPO	Urban Company IPO
Issue Size	Rs. 143.35 Cr	Rs. 400.95 Cr	Rs. 1,900 Cr
Issue Type	Fresh Issue	Fresh Issue	Fresh + OFS
Price Band	Rs. 56 - Rs. 61	Rs. 155 - Rs. 165	Rs. 98 - Rs. 103
Face Value	2	10	1
Lot Size	235 Shares	90 Shares	145 Shares
Listing Date	17 Sep 2025	17 Sep 2025	17 Sep 2025
Registrar	Kfin Tech	MUFG Intime	MUFG Intime
Investor Quota (QIB / NII / Retail)	75% / 15% / 10%	50% / 15% / 35%	75% / 15% / 10%

 

If you want to apply for the IPO, click to open a Demat Account.

 

 

Company Overview

 

1. Dev Accelerator Ltd. (DevX)

• Started in 2017.

• Business: Coworking & managed office spaces (15 centers across India).

• Backed by Dev Information Technology Ltd. (parent company).

• Subsidiary: Needle & Thread LLP (interior design).

• Problem: Very high valuation - IPO priced at 225x P/E compared to peer Awfis at 60x.

 

2. Shringar House of Mangalsutra Ltd.

• Started in 2009.

• Business: Designer Mangalsutras & jewellery (18k & 22k gold, pearls, CZ, American diamonds).

• Clients: Titan, Malabar Gold, Reliance Retail, Joyalukkas, Damas Jewellery (UAE).

• Presence: 24 Indian states + exports.

• Valuation: IPO at 19.25x P/E (reasonable compared to peers).

 

3. Urban Company Ltd.

• Started in 2014.

• Business: Online home services (beauty, cleaning, plumbing, electrical, appliance repair, and massages).

• Presence: 51 cities in India, UAE & Singapore.

• New verticals: Water purifiers & electronic locks under the “Native” brand.

• Valuation: IPO at 62x P/E (expensive but strong growth story). 

 

Dev Accelerator vs Shringar vs Urban Company- IPO Allotment Status

To check the Dev Accelerator IPO allotment status, Shringar House of Mangalsutra IPO allotment status and Urban Company IPO allotment status, visit our IPO allotment status page.

 

Dev Accelerator vs Shringar vs Urban Co - Financial Comparison (FY 2025)

Metrics (Rs. Cr)	Dev Accelerator	Shringar House of Mangalsutra	Urban Company
Total Assets	540.38	375.75	2,200.64
Total Revenue	178.89	1,430.12	1,260.68
PAT	1.74	61.11	239.77
EBITDA	80.46	92.61	12.09
Net Worth	54.79	200.85	1,781.28
Borrowings	130.67	123.11	-
RoNW	3.24%	36.20%	13.35%
PAT Margin	1%	4.27%	19%

 

Dev Accelerator vs Shringar vs Urban Co - Valuation Comparison

Valuation Metric	Dev Accelerator	Shringar House of Mangalsutra	Urban Company
EPS (₹)	0.27	8.57	1.66
P/E (x)	225.92	19.25	62.04
P/B (x)	7.94	5.93	8.27
Debt/Equity	2.39	0.61	Low
ROCE	25.95%	32.43%	-

 

Dev Accelerator IPO vs Shringar House of Mangalsutra IPO vs Urban Company IPO: GMP Comparison

Dev Accelerator IPO GMP - Rs. 9 (+14.75% listing gain).

Shringar House of Mangalsutra IPO GMP - Rs. 29 (+17.58% listing gain).

Urban Company IPO GMP - Rs. 38.5 (+37.38% listing gain).

For more information on strengths and weaknesses, click on Dev Accelerator IPO, Shringar House of Mangalsutra IPO, and Urban Company IPO.

 

Conclusion

Shringar House of Mangalsutra IPO appears suitable for those looking for stability and have shown profits. 

Urban Company IPO might be suitable if you think that digital growth and brand strength are important. 

Because of its large debt and overvaluation, the Dev Accelerator IPO appears to be the riskiest.

 

DISCLAIMER: This is NOT any buy or sell recommendation. No investment or trading advice is given. The content is for informational purposes. Before making investment decisions, always get advice from your qualified financial advisor.