Devson Catalyst SME: Check IPO Date, Live Subscription and Key Details
Devson Catalyst Limited, incorporated in 2004, is an established specialty chemical manufacturer specializing in high-performance molecular diagnostic and process solutions, including chemical catalysts, chemical adsorbents, and high-purity ceramic balls. The company's technical product catalog caters entirely to B2B institutional client spaces across processing industries, delivering optimized solutions for oil and gas refinery arrays, heavy petrochemical systems, steel formulation mills, and agricultural fertilizer setups. Devson coordinates integrated manufacturing, testing, and automated packaging parameters out of its localized hub infrastructure in Wadhwan, Surendranagar, Gujarat, sustaining a baseline processing capacity of 6,205 MT per annum.
Price Range
₹112.0 - ₹118.0
Issue Size
₹42.34 Cr
Lot Size
1,200 shares
IPO Type
BSE SME
GMP
₹49(+41.53%)
Est. Listing Price
₹167
Estimate Profit
₹1,17,600
Retail Portion
35.18%
Key Metrics
Check Live GMPGMPFace Value
₹10
EPS
9.21
P/E Ratio
12.81
RoNW
37.38%
ROE
45.97%
Debt to Equity
0.07
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Timeline
IPO Opens
9 Jul
IPO Closes
13 Jul
Allotment
14 Jul
Listing
16 Jul
IPO Timeline & Listing Details
| Event | Date | Details |
|---|---|---|
| IPO Open Date | 9 July 2026 | Subscription starts |
| IPO Close Date | 13 July 2026 | Subscription ends |
| Allotment Date | 14 July 2026 | Allotment |
| Listing Date | 16 July 2026 | Listing |
Investment Categories
| Category | Lots | Amount |
|---|---|---|
Individual | 2 | ₹2,83,200 |
SHNI (Min) | 3 | ₹4,24,800 |
SHNI (Max) | 7 | ₹9,91,200 |
BHNIAbove ₹10,00,000 | 8 | ₹11,32,800 |
IPO Reservation Details
| Category | Reservation |
|---|---|
| QIB (Qualified Institutional Buyer) | 49.75% |
| NII (Non-Institutional Investor) | 15.08% |
| SHNI (Small Non-Institutional Investor) | 4.80% |
| BHNI (Big Non-Institutional Investor) | 9.50% |
| Retail | 35.18% |
| Market Maker | 5.11% |
| Total | 100.00% |
IPO Objectives
- Funding vital capital expenditure requirements towards setting up a new, high-capacity automated manufacturing unit (₹17.40 Cr).
- Funding ongoing long-term working capital requirements of the Company (₹12.00 Cr).
- General Corporate Purposes.
Strengths
- The company benefits from Import Substitution & 'Make in India' Alignment, operating as an indigenous manufacturer producing deeply technical, specialized catalysts that act as functional domestic replacements for expensive foreign imports.
- It demonstrates Stellar Capital Return Efficiency, generating premium operational return metrics by logging an active financial Return on Capital Employed (RoCE) of 47.60% alongside an ROE of 45.97%.
- The business achieves an Outstanding Profit Compounding Profile, with net profit after tax expanding solidly by 63% year-on-year, scaling up from ₹7.67 Cr in FY25 to ₹12.52 Cr in FY26 due to higher-value product extensions.
- The firm maintains a Virtually Debt-Free Infrastructure, managed on an incredibly clean capital layout with an ultra-conservative debt-to-equity leverage multiple tracking safely at 0.07.
- The issue is backed by Robust Pre-Listing Market Momentum, capturing highly bullish parallel unlisted marketplace interest with an active gray market premium tracking firmly at ₹50, suggesting an estimated 42.37% listing gain.
Weaknesses
- The operations handle an Intense Institutional B2B Concentration Moat, leaving its revenue tunnels highly reliant on slow-moving purchase orders, corporate technical specifications, and strict maintenance cycles from massive industrial plants.
- The business faces Pre-IPO Margin Sustainability Scrutiny, as the rapid bottom-line margin accelerations recorded from FY25 onwards have drawn analytical caution regarding long-term structural margin stability inside hyper-competitive fields.
- The firm carries a Single-Site Facility Exposure risk, with all sourcing, engineering, and product processing completely centralized within its GIDC Wadhwan premises in Gujarat, exposing operations to single-point regional disruption parameters.
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Financial Performance
| Period Ended | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Assets (₹ Cr.) | 41.63 | 27.38 | 21.49 |
| Revenue (₹ Cr.) | 56.84 | 53.54 | 43.75 |
| PAT (₹ Cr.) | 12.52 | 7.67 | 4.08 |
| Net Worth (₹ Cr.) | 33.5 | 20.98 | 13.36 |
Peer Comparison
| Company | P/B Ratio | P/E Ratio | RONW (%) | Net Worth (₹ Cr.) |
|---|---|---|---|---|
| Devson Catalyst Ltd. | 5.76 | 12.81 | 45.97% | 33.5 |
| Vahh Chemicals Ltd. | 1.9 | 10.6 | 32.21% | 0 |
| Neochem Bio Solutions | 2.21 | 20.43 | 39.24% | 29.02 |
Subscription Details
Daily Bids Status
| Category | Day 1 | Day 2 | Day 3 |
|---|---|---|---|
| QIB | 1.72x | 2.6x | 168.56x |
| NII | 10.59x | 36.48x | 261.22x |
| S-HNI | 8.06x | 30.59x | 211.19x |
| B-HNI | 11.86x | 39.46x | 286.5x |
| RII | 10.99x | 42.92x | 244.08x |
| EMP | 0.72x | 0.81x | 1.06x |
| Total | 8.08x | 29.35x | 220.35x |
Overall Subscription Statistics
| Category | Shares Offered | Shares Bid | Bid Amount (₹ Cr) |
|---|---|---|---|
| QIB | 6,62,400 | 11,16,56,400 | 1,317.55 |
| NII | 5,04,000 | 13,16,54,400 | 1,553.52 |
| Small NII | 1,69,200 | 3,57,33,600 | 421.66 |
| Big NII | 3,34,800 | 9,59,20,800 | 1,131.87 |
| RII | 11,76,000 | 28,70,43,600 | 3,387.11 |
| EMP | 64,800 | 68,400 | 0.81 |
| Total | 24,07,200 | 53,04,22,800 | 6,258.99 |
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Company Details
- Devson Catalyst Ltd.
- Plot No 213 To 218 and 233 To 237, Phase II, Ambawadi, GIDC, Wadhwancity, Surendranagar, Gujarat, 363030
- +91 7201010244
- info@devsongroup.com
- https://www.devsongroup.com/
Registrar Details
- MUFG Intime India Pvt.Ltd.
- 022-49186000
- devsoncatalyst.smeipo@in.mpms.mufg.com
- https://in.mpms.mufg.com/
Frequently Asked Questions
What does Devson Catalyst do?
Devson Catalyst manufactures chemical catalysts, adsorbents, and ceramic balls used in chemical, petrochemical, fertilizer, and refinery industries.
What are the IPO dates for Devson Catalyst SME IPO?
The Devson Catalyst SME IPO opened for subscription on July 9, 2026, and will close on July 13, 2026.
What is the price band and minimum investment for Devson Catalyst IPO?
The IPO price band is fixed at ₹112 to ₹118 per share. Retail investors need to apply for a minimum of 2 lots (2,400 shares), requiring an investment of ₹2,83,200 at the upper price band.
What is the Grey Market Premium (GMP) of Devson Catalyst IPO today?
As of July 9, 2026, the Grey Market Premium (GMP) of Devson Catalyst IPO is around ₹50 per share, indicating an estimated listing price of about ₹168.
Where will Devson Catalyst IPO be listed?
Devson Catalyst IPO is proposed to be listed on BSE SME, with the tentative listing date set for July 16, 2026.
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