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InvestmentsIPODevson Catalyst IPO

Devson Catalyst IPO

SME

Open Date

9 Jul 2026

Close Date

13 Jul 2026

Min Investment

₹ 2,83,200

Lot Size

1,200

Issue Size

₹ 42.34 Cr

Price Range

₹ 112 - ₹ 118

Subscribed

213.11 x
status

This IPO is now Live.

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IPO Timeline
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IPO Offer Start
9 Jul 2026
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IPO Offer Ends
13 Jul 2026
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Allotment Finalisation
14 Jul 2026
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Refund Initialisation
15 Jul 2026
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Non-Institutional Buyers (sHNI)
15 Jul 2026
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Listing of Shares
16 Jul 2026
IPO Subscription Details as on 26 Jul 2026, 04:19 AM
Qualified Instituational Buyers (QiB)
166.64 x
Retail
231 x
Employees
1.06 x
Total
213.11 x
Non-Institutional Buyer (bHNI)
286.52 x
Non-Institutional Buyer (sHNI)
206.7 x
Note: This information is provided for general guidance only. Dates may be subject to change.
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About the Company
Devson Catalyst Limited is an ISO 9001:2015 and ISO 45001:2018 certified 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 approximately 6,205.00 metric tons. The company's products are used to improve process efficiency and facilitate removal of impurities from gases and liquids across various industrial applications, primarily serving customers in oil and gas refineries, petrochemicals, steel, fertilizers and other industrial processing sectors in both domestic and international markets.
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Founded In

2004

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CEO

-

Financials of Devson Catalyst IPO

Income Statement
Balance Sheet
Cash Flows
Total Income
Total Expenses
Total Profit
Key Performance IndicatorsMar 2024Mar 2025Mar 2026
Operating Revenue43.4753.1955.78
Other Income0.280.351.07
Total Income
43.7553.5456.84
Total Expenses
38.0743.1640.01
Profit Before Tax5.6810.3816.83
Total Profit
4.087.6712.52

All figures are in crores (₹)

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Utilisation of Proceeds

All figures are in crores (₹)

PurposeAmount
The company proposes to set up a new manufacturing unit and install additional machinery including Batching Plant with Extruder, Flash Calciner to Nodulizer Feeding System, Turbo Spin Flash Calcination System, Band Dryer-cum-Calciner, and Double Girder E.O.T. Crane to expand manufacturing capabilities, improve operational efficiency, increase production capacity, and enable economies of scale.17
The company proposes to utilize funds from the Net Proceeds to meet working capital requirements for Fiscal 2027. Working capital is critical for funding day-to-day business operations, maintaining sufficient liquidity, enabling the company to take advantage of emerging market opportunities, meeting short-term liabilities, planning procurement cycles effectively, and supporting the growth trajectory of the business.12
The company intends to deploy the balance Fresh Issue proceeds towards general corporate purposes to drive business growth including meeting operating expenses, initial development costs for projects other than identified projects, strengthening business development and marketing capabilities, meeting exigencies, and any other purposes as approved by the Board of Directors.-
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  • Indigenous manufacturer of Catalysts, Adsorbents and Ceramic balls in India: The company is an indigenous integrated manufacturer based in Gujarat, India, with an installed manufacturing capacity of approximately 6,205.00 MT per annum, serving industries such as oil and gas refining, petrochemicals, steel and fertilizers.
  • Track record of profitability and consistent financial performance in an industry with significant entry barriers: The company reported 28.31% revenue growth over three years, with revenue increasing from ₹4,346.99 lakhs in FY2024 to ₹5,577.59 lakhs in FY2026, EBITDA growing 155.80% and PAT increasing 207.01% during the same period.
  • Strategically located Manufacturing Facilities with capabilities to handle multiple products lines: The company's facility is located in Gujarat with good connectivity through road, rail, and port networks near National Highway 48, supported by well-planned storage infrastructure for efficient handling of raw materials and finished products.
  • Well-positioned in an industry with several entry barriers: The company operates in a highly regulated industry with stringent regulatory and technical prequalification criteria, comprehensive technical evaluations, and commercial scrutiny that create significant barriers for new entrants.
  • Strong customer base & relationship with global footprint: The company generated export sales of ₹2,059.82 lakhs in FY2026 representing 37.29% of revenue from operations, with 79.33% revenue from repeat customers and operations across more than 15 countries.
  • Experienced management team and qualified personnel with significant industry experience: The company's management is led by promoters with over 15-25 years of experience, supported by senior management personnel including R&D heads with 24+ years and technical managers with specialized industry expertise.

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