Devson Catalyst IPO
Devson Catalyst IPO Details
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Open Date
09 Jul 2026
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Close Date
13 Jul 2026
- IPO Price Range
₹ 112 to ₹118
- IPO Size
₹ 42.34 Cr
Devson Catalyst IPO Timeline
Devson Catalyst IPO Subscription Status
| Date | QIB | NII | Retail | TOTAL |
|---|---|---|---|---|
| 09-July-2026 | 1.72 | 10.59 | 10.99 | 8.08 |
| 10-July-2026 | 2.60 | 36.48 | 42.92 | 29.35 |
| 13-July-2026 | 168.56 | 261.22 | 244.08 | 220.35 |
Last Updated: 13 July 2026 6:08 PM by 5paisa
Devson Catalyst (formerly Devson Catalyst Private Limited and Devson Insulators Private Limited) is an ISO 9001:2015 and ISO 45001:2018 certified company engaged in the manufacturing 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 approximately 6,205 metric tons.
Its products are used to improve process efficiency and facilitate the removal of impurities from gases and liquids across various industrial applications. The company supplies its products to customers operating in industries such as oil and gas refineries, petrochemicals, steel, fertilisers, and other industrial processing sectors.
Established in: September 10, 2004
Managing Director: Patel Savan Prahladbhai
Devson Catalyst Objectives
1. Funding the capital expenditure requirements towards the setting up of a new manufacturing unit.
2. Funding the working capital requirements of the company.
3. General corporate purposes.
Devson Catalyst IPO Size
| Types | Size |
|---|---|
| Total IPO Size | ₹42.34 Cr |
| Offer For Sale | ₹2.95 Cr |
| Fresh Issue | ₹39.39 Cr |
Devson Catalyst IPO Lot Size
| Application | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 2 | 2,400 | 2,68,800 |
| Retail (Max) | 2 | 2,400 | 2,83,200 |
| S - HNI (Min) | 3 | 3,600 | 4,03,200 |
| S - HNI (Max) | 7 | 8,400 | 9,91,200 |
| B - HNI (Min) | 8 | 9,600 | 10,75,200 |
| Employee (Min) | 2 | 2,400 | 2,68,800 |
| Employee (Max) | 3 | 3,600 | 4,24,800 |
Devson Catalyst IPO Reservation
| Investors Category | Subscription (times) | Shares Offered* | Shares bid for | Total Amount (Cr.)* |
|---|---|---|---|---|
| QIB (Ex Anchor) | 168.56 | 6,62,400 | 11,16,56,400 | 1,317.55 |
| Non-Institutional Buyers | 261.22 | 5,04,000 | 13,16,54,400 | 1,553.52 |
| BNII | 286.50 | 3,34,800 | 9,59,20,800 | 1,131.87 |
| SNII | 211.19 | 1,69,200 | 3,57,33,600 | 421.66 |
| Individual Investors (IND category bidding for 2 Lots) | 244.08 | 11,76,000 | 28,70,43,600 | 3,387.11 |
| Total** | 220.35 | 24,07,200 | 53,04,22,800 | 6,258.99 |
*The "Shares Offered" and "Total Amount" are calculated using the upper limit of the issue price range.
**Shares allocated to anchor investors (or market makers) are excluded from the total number of shares offered.
| Particulars (In ₹ Crores) | FY24 | FY25 | FY26 |
| Revenue | 43.47 | 53.19 | 55.78 |
| EBITDA | 6.69 | 10.93 | 16.76 |
| PAT | 4.08 | 7.67 | 12.52 |
| Particulars (In ₹ Crores) | FY24 | FY25 | FY26 |
| Total Assets | 21.49 | 27.38 | 41.63 |
| Share Capital | 0.25 | 0.25 | 10.25 |
| Total Liabilities | - | - | - |
| Cash Flows (₹ Crores) | FY24 | FY25 | FY26 |
| Net Cash Generated From / (used in) Operating Activities | 0.21 | 4.50 | 4.56 |
| Net Cash Generated From / (used in) Investing Activities | -2.61 | -2.47 | -2.95 |
| Net Cash Generated From / (used in) Financing Activities | 2.62 | -1.92 | -0.71 |
| Net Increase (Decrease) in Cash and Cash Equivalents | 0.22 | 0.10 | 0.90 |
Strengths
1. One of the leading indigenous manufacturers of catalysts, adsorbents, and ceramic balls catering to industries such as oil & gas refineries, petrochemicals, steel, fertilisers, and industrial processing.
2. Integrated manufacturing facility in Surendranagar, Gujarat, with an installed capacity of 6,205 MT per annum.
3. Diversified customer base across domestic and international markets through a B2B business model.
4. Strong financial performance, with revenue increasing from ₹32.75 crore in FY23 to ₹56.84 crore in FY26 and profit after tax rising from ₹2.34 crore to ₹12.52 crore during the same period.
Weaknesses
1. Heavy dependence on industrial demand cycles and capital expenditure trends in end-user industries.
2. Manufacturing operations are concentrated in a single facility in Gujarat, creating geographical concentration risk.
3. The absence of listed peer companies makes valuation comparison difficult.
4. SME-listed stocks generally have lower liquidity and may experience higher price volatility.
Opportunities
1. IPO proceeds will be used to establish a new manufacturing unit and meet working capital requirements, supporting future growth.
2. Rising demand for catalysts and process efficiency solutions across refining, petrochemicals, steel, and fertiliser industries.
3. Significant opportunities to expand exports and further diversify the customer base.
4. Increasing industrial activity and process optimisation requirements can drive long-term demand for the company's products.
Threats
1. Exposure to cyclical trends in industrial and manufacturing sectors.
2. Slowdown in key industries such as oil & gas, petrochemicals, and steel could impact business performance.
3. SME stocks are generally exposed to higher liquidity and market volatility risks.
4. Execution risks associated with setting up a new manufacturing facility and deploying IPO funds effectively.
Investors may consider the Devson Catalyst IPO for the following reasons:
1. Strong revenue and profit growth trajectory over the past four financial years.
2. Robust profitability metrics, including high return on equity and return on capital employed.
3. Presence in essential industrial sectors with products that support process efficiency and operational performance.
4. Expansion plans through a new manufacturing facility, which could support long-term growth.
5. Experienced management team and an established presence in domestic as well as international markets.
However, investors should also consider risks such as industrial cyclicality, execution challenges related to expansion plans, and the relatively higher volatility associated with SME-listed companies before making an investment decision.
Devson Catalyst operates in the speciality industrial materials segment, manufacturing catalysts, adsorbents, and ceramic balls that are used across several critical industries, including oil and gas refining, petrochemicals, fertilisers, steel, and industrial processing. Its products play an important role in improving process efficiency and operational reliability.
The company has demonstrated strong financial growth over the last few years, supported by rising revenues and improving profitability. The proposed expansion through a new manufacturing facility and additional working capital is expected to strengthen its production capabilities and help the company capitalise on growing industrial demand in both domestic and international markets.
- Companies
- Type
- Opening On
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Caliber Mining
- Mainboard
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17th Jul
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FAQs
The Devson Catalyst IPO opens for subscription on 9 July 2026 and closes on 13 July 2026.
The IPO is a book-built issue aggregating to ₹42.34 crore, comprising a fresh issue of 0.33 crore shares worth ₹39.39 crore and an offer for sale of 0.03 crore shares worth ₹2.95 crore.
The price band for the Devson Catalyst IPO has been fixed at ₹112 to ₹118 per equity share.
To apply for Kusumgar IPO, follow the steps given below:
● Login to your 5paisa demat account and select the issue in the current IPO section
● Enter the number of lots and the price at which you wish to apply for theKusumgar. IPO.
● Enter your UPI ID and click on submit. With this, your bid will be placed with the exchange.
You will receive a mandate notification to block funds in your UPI app.
The lot size for the IPO is 2,400 shares and the minimum investment is ₹2,68,800.
The basis of allotment for the Devson Catalyst IPO is expected to be finalised on 14 July 2026.
The shares of Devson Catalyst are proposed to be listed on the BSE SME platform, with a tentative listing date of 16 July 2026.
JJ IPO Advisors Pvt. . is the book-running lead manager for the Devson Catalyst IPO.
The company intends to utilise the net proceeds from the IPO towards:
1. Funding capital expenditure for setting up a new manufacturing unit.
2. Meeting the working capital requirements of the company.
3. Funding general corporate purposes.