SME
IPO ·
BSE SME
Devson Catalyst Ltd
Listed
Devson Catalyst Limited is an indigenous manufacturer of catalysts, adsorbents and ceramic balls used as key materials in various industrial processes The company operates a manufacturing facility in Gujarat with an annual product
Issue details
Price band
₹112 – ₹118
Face value
₹10
Lot size
1,200 shares
Minimum investment
₹2,83,200
Issue size
₹42.34 Cr
Fresh issue
₹37.26 Cr
Offer for sale
₹2.95 Cr
Issue type
Book Built
Exchange
BSE SME
Key dates
Opens
9 Jul 2026
Closes
13 Jul 2026
UPI mandate cut-off
5:00 PM on 13 Jul 2026
Allotment
14 Jul 2026
Refunds
15 Jul 2026
Shares in demat
15 Jul 2026
Listing
16 Jul 2026
Subscription and listing
Subscription
154.54x
Listing price
₹196.15
Registrar
MUFG Intime India Pvt Ltd
Lead manager
JJ IPO Advisors
Subscription by category
Total
154.54x
Total applications
1,36,593
Anchor investors
Amount raised
₹11.81 Cr
Bid date
8 Jul 2026
50% lock-in ends
13 Aug 2026
Rest lock-in ends
12 Oct 2026
Listing day
Issue price
₹118
Open
₹196.15
High
₹205.95
Low
₹186.35
Day close
₹205.95
Listing gain at open
+66.23%
Issue structure
Shares reserved per category and share of the total issue
QIB Shares Offered
16,63,200
46.35%
Anchor Investor Shares Offered
10,00,800
27.89%
QIB (Ex. Anchor) Shares Offered
6,62,400
18.46%
NII Shares Offered
5,04,000
14.05%
bNII > ₹10L
3,34,800
9.33%
sNII < ₹10L
1,69,200
4.72%
Retail Shares Offered
11,76,000
32.78%
Employee Shares Offered
64,800
1.81%
Market Maker Shares Offered
1,80,000
5.02%
Total Shares Offered
35,88,000
100.00%
Finaccle’s quick read
Neutral
FY26 income up 6%, PAT up 63%, ROE 45.97%, D/E 0.07, post-issue P/E 12.81x.
A rules-based screen of growth, margins, debt and valuation, built from the offer document and data on Chittorgarh.com. It is for information only and is not investment advice or a recommendation to buy or sell. Read the RHP and speak to a SEBI-registered adviser before you apply.
About the company
Devson Catalyst Limited is an indigenous manufacturer of catalysts, adsorbents and ceramic balls used as key materials in various industrial processes The company operates a manufacturing facility in Gujarat with an annual production capacity of around 6,205 metric tons. Its products are supplied to industries such as oil and gas refineries, petrochemicals, steel, fertilizers, and other industrial processing sectors. These materials help improve process efficiency, increase operational reliability, and support more sustainable industrial operations. The company serves customers in both domestic and international markets.
Promoters
Promoter holding
Financial performance
Period
PAT
ROE
45.97%
ROCE
47.60%
Debt / equity
0.07
PAT margin
—
P/E post issue
12.81
Market cap
₹160.34 Cr
Use of IPO money
Funding the Capital Expenditure requirements towards setting up of a new manufacturing unit
₹17.40 Cr
Funding the working capital requirements of the Company
₹12.00 Cr
General corporate purposes
₹5.69 Cr
Issue Expenses
₹4.63 Cr
Strengths
✓
Indigenous manufacturer of catalysts, adsorbents, and ceramic balls in India
✓
Consistent profitability and financial performance in an industry with high entry barriers
✓
PAT up 63% in FY26 to ₹12.52 Cr
✓
ROE of 45.97% and ROCE of 47.60%
✓
Moderate leverage: debt to equity 0.07
Risks to watch
!
SME platform: large lot size and thinner trading liquidity
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Last updated:
Information is compiled from exchange notices and the company’s offer document. It is for general information only and is not investment advice or a recommendation to apply. Read the prospectus before investing.