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Devson Catalyst IPO
₹2,83,200/2 Lot (2400) shares
Minimum Investment
IPO Details
09 Jul 26
13 Jul 26
₹2,83,200
2 Lot (2400)
₹112 to ₹118
BSE
₹42.34 Cr
16 Jul 26
Devson Catalyst IPO Timeline
Bidding Start
09 Jul 26
Bidding Ends
13 Jul 26
Allotment Finalisation
14 Jul 26
Refund Initiation
15 Jul 26
Demat Transfer
15 Jul 26
Listing
16 Jul 26
About Devson Catalyst Limited
Devson Catalyst Limited is an indigenous manufacturer of catalysts, adsorbents, and ceramic balls used in various industrial processes across sectors such as oil and gas refining, petrochemicals, fertilisers, steel, and chemical processing. The company operates a manufacturing facility in Gujarat with an installed production capacity of approximately 6,205 metric tonnes per annum. It follows a business-to-business (B2B) model, supplying products to industrial and institutional customers in domestic and international markets. Its product portfolio supports process efficiency, operational reliability, and sustainability while maintaining consistent quality through standard manufacturing practices and stringent quality control systems.
Devson Catalyst Limited IPO Overview
Devson Catalyst Limited is launching a Bookbuilding IPO aggregating ₹42.34 crore, comprising a fresh issue of 31,58,000 equity shares worth ₹39.39 crore and an offer for sale of 2,50,000 equity shares worth ₹2.95 crore. The IPO opens for subscription on 9 July 2026 and closes on 13 July 2026. The basis of allotment is expected to be finalised on 14 July 2026, while refunds and credit of shares to successful applicants’ demat accounts are scheduled for 15 July 2026. The shares are proposed to be listed on the BSE SME platform on 16 July 2026. The issue has been priced in the range of ₹112 to ₹118 per share. Investors can bid for a minimum of 2,400 shares. JJ IPO Advisors Pvt. Ltd. is the Book Running Lead Manager, MUFG Intime India Pvt. Ltd. is the registrar, and MNM Stock Broking Pvt. Ltd. is the market maker.
Devson Catalyst Limited IPO Details
| Particulars | Details |
| IPO Date | 9 July 2026 to 13 July 2026 |
| Listing Date | 16 July 2026 |
| Face Value | ₹10 per share |
| Issue Price Band | ₹112 to ₹118 per share |
| Lot Size | 1,200 Shares |
| Total Issue Size | 35,88,000 shares (Aggregating up to ₹42.34 Crore) |
| Fresh Issue | 33,38,000 shares (Aggregating up to ₹39.39 Crore) |
| Offer for Sale | 2,50,000 shares (Aggregating up to ₹2.95 Crore) |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE SME |
| Share Holding Pre Issue | 1,02,50,000 shares |
| Share Holding Post Issue | 1,35,88,000 shares |
| Market Maker Portion | 1,80,000 shares |
| Lead Manager | JJ IPO Advisors Pvt. Ltd. |
| Registrar | MUFG Intime India Pvt. Ltd. |
| Market Maker | MNM Stock Broking Pvt. Ltd. |
Devson Catalyst Limited IPO Reservation
| Investor Category | Shares Offered |
| QIB | Not more than 50% of the Net Issue |
| Retail | Not less than 35% of the Net Issue |
| NII (HNI) | Not less than 15% of the Net Issue |
Devson Catalyst Limited IPO Lot Size
| Application | Lots | Shares | Amount |
| Retail (Min) | 2 | 2,400 | ₹2,83,200 |
| Retail (Max) | 2 | 2,400 | ₹2,83,200 |
| S-HNI (Min) | 3 | 3,600 | ₹4,24,800 |
| S-HNI (Max) | 7 | 8,400 | ₹9,91,200 |
| B-HNI (Min) | 8 | 9,600 | ₹11,32,800 |
Devson Catalyst Limited IPO Promoter Holding
| Shareholding Status | Percentage |
| Pre-Issue | 100.00% |
| Post-Issue | To be updated after the IPO |
Devson Catalyst Limited IPO Valuation Overview
| KPI | Value |
| Earnings Per Share (EPS) | ₹12.22 (Pre-Issue), ₹9.21 (Post-Issue) |
| Price/Earnings (P/E) Ratio | 9.66x (Pre-Issue), 12.81x (Post-Issue) |
| Return on Net Worth (RoNW) | 37.38% |
| Net Asset Value (NAV) | Not Available |
| Return on Equity (ROE) | 45.97% |
| Return on Capital Employed (ROCE) | 47.60% |
| EBITDA Margin | 29.49% |
| PAT Margin | Not Available |
| Debt to Equity Ratio | 0.07 |
Objectives of the Proceeds
- ₹17.40 crore will be utilised to establish a new manufacturing unit, enhancing production capacity and supporting future business expansion.
- ₹12.00 crore will be used to meet the company’s working capital requirements and strengthen day-to-day operational efficiency.
- The remaining proceeds will be allocated towards general corporate purposes, supporting strategic initiatives and overall business growth.
Key Financials (₹ Crore)
| Particulars | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
| Assets | 41.63 | 27.38 | 21.49 |
| Revenue (Total Income) | 56.84 | 53.54 | 43.75 |
| Profit After Tax | 12.52 | 7.67 | 4.08 |
| Reserves and Surplus | 23.25 | 20.73 | 13.06 |
| Total Borrowings | — | 2.78 | 4.17 |
IPO Strengths of Devson Catalyst Limited
- Indigenous manufacturer of catalysts, adsorbents, and ceramic balls for industrial applications.
- Consistent financial performance supported by strong profitability and healthy margins.
- Strategically located manufacturing facility with multi-product production capabilities.
- Operates in a specialised industry with significant entry barriers.
- Strong relationships with domestic and international industrial customers.
- Experienced management team with technical expertise in specialty chemicals.
Peer Group Comparison
As per the DRHP, there are no comparable listed peers of the company; therefore, peer comparison information has not been provided.
SWOT Analysis of Devson Catalyst IPO
Strength and Opportunities
- Indigenous manufacturer of catalysts, adsorbents, and ceramic balls with specialised technical expertise.
- Strong presence in a niche industry with high entry barriers supports long-term competitive positioning.
- Strategically located manufacturing facility with multi-product capabilities and an installed capacity of 6,205 MT annually.
- Growing domestic and international customer base creates opportunities to expand exports and strengthen market presence.
- Consistent financial performance and healthy profitability strengthen future growth prospects.
- Rising industrialisation and expansion of refining and petrochemical sectors offer long-term growth opportunities.
Risks and Threats
- Revenue depends largely on demand from industrial sectors such as refineries, petrochemicals, steel, and fertilisers.
- Fluctuations in raw material prices may impact production costs and operating margins.
- Capital-intensive operations require continuous investments in manufacturing infrastructure and technology upgrades.
- Dependence on industrial capital expenditure cycles may affect order inflow during economic slowdowns.
- Increasing competition from domestic and global specialty chemical manufacturers may pressure pricing and margins.
- Regulatory changes relating to environmental compliance and industrial safety could increase operating costs.
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How to apply IPO with HDFC SKY?
Follow these simple steps to apply for an IPO through HDFC SKY. Secure your investments and explore new opportunities with ease by accessing the IPOs available on the platform.
1Login to your HDFC SKY Account
2Select Issue
3Enter Number of Lots and your Price.
4Enter UPI ID
5Complete Transaction on Your UPI App
FAQs on Devson Catalyst Limited IPO
How can I apply for the Devson Catalyst Limited IPO?
You can apply for the Devson Catalyst Limited IPO through HDFC Sky using the UPI-based ASBA facility. Ensure adequate funds are available in your linked bank account before submitting your application during the IPO subscription period.
What is the minimum investment required for the Devson Catalyst Limited IPO?
Retail investors must apply for a minimum of 2,400 equity shares (2 lots). At the upper price band of ₹118 per share, the minimum investment required is ₹2,83,200.
What are the important dates for the Devson Catalyst Limited IPO?
The IPO opens on 9 July 2026 and closes on 13 July 2026. Allotment is expected on 14 July 2026, while refunds, share credit, and listing are scheduled between 15 and 16 July 2026.
What is the price band of the Devson Catalyst Limited IPO?
The IPO has been priced in the range of ₹112 to ₹118 per equity share. Investors can bid within this range during the book-building process before the issue closes.
What will the IPO proceeds be used for?
The company will utilise the IPO proceeds to establish a new manufacturing unit, meet working capital requirements, and fund general corporate purposes to support future expansion and operational growth.
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