Devson Catalyst was incorporated on September 10, 2004. The company initially manufactured electrical products such as insulators and related components before transitioning into the production of catalysts, adsorbents, and ceramic balls. It now supplies these products for use across various industrial applications
| Bidding Dates |
|---|
| 09 Jul 2026 - 13 Jul 2026 |
| Subscription |
|---|
| 205.06x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹2,68,800 | 2 | 2 | 1200 | 3.6 M | ₹112 - ₹118 | 73.59 % | ₹401.9 M - ₹423.4 M | RHP DOC |
Devson Catalyst IPO SUBSCRIPTION STATUS
13 Jul '26Devson Catalyst IPO overall subscription rate was 205.06 times the total available shares
Devson Catalyst IPO retail subscription rate was 316.92 times in the retail segment
Devson Catalyst IPO non-institutional investor subscription rate was 339.71 times in the non-institutional investor category
Devson Catalyst IPO Qualified Institutional Bidder subscription rate was 86.31 times the available shares for Qualified Institutional Bidder
Devson Catalyst IPO Employees subscription rate was 1.06 times in the Employees category
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers | Employees |
|---|---|---|---|---|
| Category Reservation | 35% | 15% | 50% | - |
13 Jul 2026 (Day 3) | 316.92x | 339.71x | 86.31x | 1.06x |
10 Jul 2026 (Day 2) | 55.69x | 47.84x | 1.33x | 0.81x |
09 Jul 2026 (Day 1) | 14.23x | 13.75x | 0.88x | 0.72x |
Devson Catalyst FINANCIALS
| Period | Revenue from Operations (Rs in crore) | Net Profit (Rs in crore) | Cash Flow from Operations (Rs in crore) | Free Cash Flow (Rs in crore) | Margins |
| FY26 | 55.8 | 12.5 | 4.6 | -0.7 | 29.5% |
| FY25 | 53.2 | 7.7 | 4.5 | 4.0 | 20.4% |
| FY24 | 43.5 | 4.1 | 0.2 | -2.4 | 15.3% |
Devson Catalyst IPO SUBSCRIPTION STATUS DETAILS
Devson Catalyst had 3.6 M shares on offer
Devson Catalyst IPO offer price was in the range ₹112 - ₹118
Devson Catalyst IPO minimum Investment was ₹268800
Devson Catalyst IPO issue size was ₹ 401.9 M - ₹ 423.4 M
Devson Catalyst had a minimum lot size of 1200 Shares per application
Devson Catalyst NUMBER OF SHARES ON OFFER
Devson Catalyst IPO IMPORTANT DATES
| Issue Open Date | 09 Jul 2026 |
| Issue close Date | 13 Jul 2026 |
| Allotment Date | 14 Jul 2026 |
| Refund Date | 15 Jul 2026 |
| Demat Account Credit Date | 15 Jul 2026 |
| Listing Date | 16 Jul 2026 |
| Listing on Exchange(s) | BSE |
| Devson Catalyst Allotment Status | Exchange/ Registrar |
Devson Catalyst IPO subscription opened on 09 Jul 2026, and closed on 13 Jul 2026
IPO allotment for Devson Catalyst was finalized on Tuesday, 14 Jul 2026
IPO listing for Devson Catalyst was on BSE on Thursday, 16 Jul 2026
Devson Catalyst IPO LISTING GAINS
| Issue Price (adjusted) | 118.0 |
| Listing Open Price | 196.2 |
| Listing Close Price | 205.9 |
| Listing Gain% | 66.2% |
| Current Gain% | 104.8% |
Devson Catalyst Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Devson Catalyst Ltd. | 241.7 | 328.4 | 26.2 | 0.4 | 5.8 | 37.4 | 30.1 | 56.8 | 6.2 | 12.5 | 63.2 | 9.2 | 63.2 |
| Pidilite Industries Ltd. | 1660 | 168953.2 | 63.8 | 3 | 11 | 22.6 | 15.9 | 14867 | 11.1 | 2448.9 | 17.9 | 26 | 21.4 |
| SRF Ltd. | 2615 | 77515.1 | 35.9 | 0.7 | 4.6 | 13.1 | 7.6 | 15893.6 | 7.2 | 1835.2 | 46.7 | 72.9 | 51.1 |
| Gujarat Fluorochemicals Ltd. | 4518.1 | 49631.3 | 85.9 | 14.7 | 9.9 | 7.3 | 4.9 | 5038 | 3.8 | 578 | 5.8 | 52.6 | 5.9 |
| Himadri Speciality Chemical Ltd. | 752.6 | 37975.8 | 47.5 | 1.6 | 7.6 | 16 | 11.9 | 4832 | 3.6 | 751.3 | 35.2 | 15.8 | 30 |
| Aether Industries Ltd. | 1591.6 | 21122.5 | 89.8 | 2.6 | 17.3 | 8.9 | 6.8 | 1181.1 | 34.2 | 219.5 | 38.5 | 17.7 | 34 |
Devson Catalyst INFORMATION ON IPO ISSUE
About Devson Catalyst
Devson Catalyst was incorporated on September 10, 2004. The company initially manufactured electrical products such as insulators and related components before transitioning into the production of catalysts, adsorbents, and ceramic balls. It now supplies these products for use across various industrial applications
Object of the Issue
- Funding the capital expenditure requirements towards setting up of a new manufacturing unit
- Funding the working capital requirements of the company
- General corporate purposes
Devson Catalyst - PROMOTERS
| Name |
|---|
| Prahladbhai Devjibhai Shiyaniya |
| Patel Savan Prahladbhai |
| Pratapbhai Devjibhai Siyania |
| Patel Krishna Savanbhai |
Devson Catalyst - MANAGEMENT & LEADERSHIP
| Name | Designation |
|---|---|
| Prahladbhai Devjibhai Shiyaniya | Chairman & Whole-Time Director |
| Patel Savan Prahladbhai | Managing Director |
| Pratapbhai Devjibhai Siyania | Whole-Time Director |
| Patel Krishna Savanbhai | Director |
| Prashant Harivallbhabhai Jani | Independent Director |
| Prakashkumar Verma | Independent Director |
Devson Catalyst Book Running Lead Manager
JJ Ipo Advisors Private Limited
info@jjipoadvisors.com
Devson Catalyst Registrar to the Offer
MUFG Intime India Private Limited
devsoncatalyst.smeipo@in.mpms.mufg.com
Devson Catalyst Strengths
Diverse product portfolio
The company is an integrated manufacturer of catalysts, adsorbents, and ceramic balls, serving industries such as oil & gas, petrochemicals, steel, and fertilizers, with an installed capacity of approximately "6,205 MT per annum". Equipped with modern manufacturing facilities, it also offers customized products tailored to meet specific customer requirements
High industry entry barriers
The catalysts and adsorbents industry has high entry barriers due to stringent regulatory requirements, technical qualifications, and customer approval processes, making it difficult for new entrants to secure contracts. Long-standing customer relationships, consistent product quality, and strict tender prequalification norms provide established players with a significant competitive advantage
Strategically located manufacturing facility
The company’s strategically located manufacturing facility offers strong connectivity to suppliers, logistics networks, and major transport routes, enabling efficient procurement, production, and timely deliveries. Well-planned storage infrastructure ensures safe handling of raw materials and finished goods, supporting effective inventory management and product quality
Devson Catalyst Risks
Raw material price volatility
The company’s profitability depends on the stable availability and pricing of key raw materials used in manufacturing catalysts and adsorbents. Any increase in input costs or supply disruptions could affect production schedules, operating margins, and timely fulfilment of customer orders
Depend on overseas distributors
The company’s export business relies on third-party overseas distributors to generate orders and maintain customer relationships in international markets. Any disruption in these partnerships could reduce export revenues, limit market expansion, and adversely affect financial performance
Competition
The company operates in a highly competitive catalysts and reactor media market, facing competition from established domestic manufacturers, multinational players, and imported products. Intense pricing pressure, technological advancements, and stronger competitor capabilities could adversely affect market share, margins, and growth prospects
IPO FAQs
This IPO consists of an offer for sale of up to Rs 3.0 crore, of 250,000 shares. It also consists of a fresh issue of Rs 39.4 crore.
The promoters of the company are Prahladbhai Devjibhai Shiyaniya, Patel Savan Prahladbhai, Pratapbhai Devjibhai Siyania and Patel Krishna Savanbhai.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.
The price band of the IPO is Rs 112.0 - 118.0.
The IPO application opens on Jul 09, 2026 and closes on Jul 13, 2026.
The minimum lot size for the IPO is 2400. The maximum lot size for the IPO is 2400.
For all category investors, the minimum application amount for this IPO is Rs. 268,800.0, the maximum value for this IPO is Rs 283,200.0.
This IPO will be allotted on Jul 14, 2026.
The refund will be credited to your account on Jul 15, 2026.
The allotted shares will be credited to your demat on Jul 15, 2026.
Devson Catalyst Ltd.’s shares listed on the stock exchanges on Jul 16, 2026.