Devson Catalyst IPO- Company Analysis
Devson Catalyst IPO under the SME IPO category is a bookbuild issue of Rs. 42.34 Cr by Devson Catalyst Limited and is an indigenous producer of ceramic balls, adsorbents, and catalysts that are essential components of numerous industrial processes. With an annual production capacity of about 6,205 metric tons, the company has a manufacturing facility in Gujarat.
Petrochemicals, steel, fertilizers, oil and gas refineries, and other industrial processing sectors are among the industries that receive its products. These materials promote more sustainable industrial operations, boost operational dependability, and enhance process efficiency. The business provides services to clients in both domestic and foreign markets.
Products:
Catalyst
Adsorbent
Ceramic Balls.
Devson Catalyst IPO Details
The Devson Catalyst IPO date of opening is 09 Jul 2026; its initial public offering will end on 13 Jul, IPO allotment on Jul 14 and refund initiation on Jul 15, 2026.
The Rs. 42.34 crore new SME IPO comprises a combination of fresh issue of 0.33 crore shares (Rs. 39.39 Cr) and offer for sale of 0.03 crore shares (Rs. 2.95 Cr).
The Devson Catalyst IPO listing date (expected) might be Thursday, Jul 16, 2026, and listing at the BSE and SME.
The Devson Catalyst IPO price band is Rs. 112 to Rs. 118.
IPO Timetable (Tentative)
|
Events |
Date |
|
IPO Opening Date |
Jul 09, 2026 |
|
IPO Closing Date |
Jul 13, 2026 |
|
IPO Allotment Date |
Jul 14, 2026 |
|
Refund Initiation |
Jul 15, 2026 |
|
IPO Listing Date |
Jul 16, 2026 |
Click to open demat account and apply for the IPO.
Company Financials
(Amount in Cr)
|
Particulars |
31 Mar 2026 |
31 Mar 2025 |
31 Mar 2024 |
|
Assets |
41.63 |
27.38 |
21.49 |
|
Total Income |
56.84 |
53.54 |
43.75 |
|
Profit After Tax |
12.52 |
7.67 |
4.08 |
|
EBITDA |
16.76 |
10.93 |
6.69 |
|
Net Worth |
33.50 |
20.98 |
13.36 |
|
Reserves and Surplus |
23.25 |
20.73 |
13.06 |
|
Total Borrowing |
2.78 |
4.17 |
Cash Flows
(Amount in lac)
|
Net Cash Flow |
31 Mar 2026 |
31 Mar 2025 |
31 Mar 2024 |
|
Net Cash Flow Operating Activities |
455.64 |
450.07 |
20.78 |
|
Net Cash Flow Investing Activities |
(294.90) |
(247.43) |
(261.44) |
|
Net Cash Flow Financing Activities |
(70.62) |
(192.19) |
262.36 |
Revenue Bifurcation
(Rs. in Lac)
(Source: RHP)
The Objective of the Issue
The Company desires to use the Net Proceeds from the Issue to fulfill its following goals:
-
Funding the Capital Expenditure requirements towards setting up of a new manufacturing unit. ~ Rs. 17.40 Cr.
-
Funding the working capital requirements of the Company. ~ Rs. 12 Cr.
-
General Corporate Purposes.
Listed Peers of Devson Catalyst Ltd.
No listed peer of a similar size is engaged in the same lines of business as mentioned in the RHP.
Valuation
|
KPI |
Value (Mar 31, 2026) |
|
ROE |
45.97% |
|
ROCE |
47.60% |
|
Debt/Equity |
0.07 |
|
RoNW |
37.38% |
|
EBITDA Margin |
29.49% |
|
Price to Book Value |
5.76 |
Evaluation of P/E Ratio
Considering the period ended on FY 2026 with an EPS of Rs. 12.22 from the last year, the resulting P/E ratio is 9.65x.
Explore the Teja Engineering Industries IPO.
IPO's Strengths
-
Indigenous manufacturer of catalysts, adsorbents, and ceramic balls in India.
-
Consistent profitability and financial performance in an industry with high entry barriers.
-
Strategically located manufacturing facility with the capability to produce multiple product lines.
IPO's Weaknesses
-
Supplier Dependency
-
Tender-Based Business Risk
-
Raw Material Price Volatility.
Devson Catalyst IPO GMP (Grey Market Premium)
Devson Catalyst IPO GMP today is Rs. 46 as of 07 July 2026, while writing this information.
Devson Catalyst IPO Summary
|
IPO Opening & Closing Date |
09 Jul, 2026 to 13 Jul, 2026 |
|
Face Value |
Rs. 10 per Share |
|
Issue Price |
Rs. 112 to Rs. 118 per Share. |
|
Lot Size |
1200 Shares |
|
Issue Size |
35,88,000 Shares (Rs. 42 Cr) |
|
Offer for Sale |
2,50,000 Shares (Rs. 3 Cr) |
|
Fresh Issue |
31,58,000 Shares (Rs. 37 Cr) |
|
Listing at |
BSE, SME |
|
Issue Type |
Bookbuilding Issue |
|
Registrar |
MUFG Intime India Pvt. Ltd. |
IPO Lot Details
Retail investors can invest in a minimum and maximum of 2 Lots (2400 Shares) for Rs. 2,83,200, and in multiples thereof, while HNI investors can invest in a minimum of 3 Lots (3600 Shares) for Rs. 4,24,800.
|
Minimum Lot Investment (Retail) |
2 Lots |
|
Maximum Lot Investment (Retail) |
2 Lots |
|
HNI (Min) |
3 Lots |
Devson Catalyst IPO Allotment Status
To check the Devson Catalyst IPO Allotment Status, visit the official Registrar’s website or BSE website. Below are the website links for you.
Using BSE Website - BSE IPO allotment status
Promoters And Management of Devson Catalyst Ltd.
-
Pratapbhai Devjibhai Siyania
-
Prahladbhai Devjibhai Shiyaniya
-
Patel Savan Prahladbhai
-
Patel Krishna Savanbhai.
|
Pre-Issue Promoter Shareholding |
100% |
|
Post-Issue Promoter Shareholding |
- |
IPO Lead Managers
JJ IPO Advisors Pvt. Ltd.
Dividend Policy
The company has not declared a dividend during the last three financial years.
Conclusion
Devson Catalyst IPO offers exposure to India’s industrial catalyst, adsorbent, and ceramic balls manufacturing sector with strong FY2026 profitability and low debt. The SME IPO’s growth plans, fresh issue proceeds, and positive GMP may attract investors, but risks like supplier dependency, tender-based revenue, and raw material volatility should be reviewed carefully.
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Finowings IPO Analysis
Hope you enjoyed the Finowings IPO Analysis. We tried our best to give every required detail about the company that you should know before applying to the IPO.
You must consult your financial advisor before making any financial decisions.
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To Read the Prospectus of the Company Click Here to Download the DRHP.
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DISCLAIMER: This blog is NOT any buy or sell recommendation. No investment or trading advice is given. The content is purely for educational and information purposes only. Always consult your eligible financial advisor for investment-related decisions.
