Devson Catalyst IPO is an SME IPO aiming to raise ₹42.34 crore and will open for subscription from 9 July 2026 to 13 July 2026. The company is scheduled to list on the BSE SME platform on 16 July 2026. The IPO has a price band of ₹112 to ₹118 per share, with a minimum application of 2 lots (2,400 shares) requiring an investment of ₹2,83,200. The allotment is expected on 14 July 2026, while shares are likely to be credited to investors' demat accounts on 15 July 2026.
The issue has received a strong response from investors with the IPO subscribed 18.47 times on Day 2, led by robust demand from retail and HNI investors. Market participants are also closely tracking the Grey Market Premium (GMP) for indications of potential listing sentiment.
Devson Catalyst IPO: Key Details
Particulars
Details
IPO Type
Book-built SME IPO
IPO Size
₹42.34 Crore
Fresh Issue
₹39.39 Crore
Offer for Sale
₹2.95 Crore
Price Band
₹112 - ₹118 per share
Issue Price
₹118 per share
Face Value
₹10 per share
Lot Size
1,200 Shares
Minimum Investment
₹2,83,200
IPO Opens
9 July 2026
IPO Closes
13 July 2026
Allotment Date
14 July 2026
Listing Date
16 July 2026
Listing Exchange
BSE SME
GMP
₹45*
Subscription Status
18.47x (Day 2)
Lead Manager
JJ IPO Advisors Pvt. Ltd.
Registrar
MUFG Intime India Pvt. Ltd.
Market Maker
MNM Stock Broking Pvt. Ltd.
*GMP may vary based on market conditions.
For complete information about the company, financial performance, IPO timeline, subscription details and other updates, check the detailed Devson Catalyst IPO page.
About Devson Catalyst Limited
Devson Catalyst Limited is an Indian manufacturer of catalysts, adsorbents and ceramic balls used in industrial processing applications. The company serves industries including refineries, petrochemicals, fertilisers and steel manufacturing. Its manufacturing facility located in Gujarat has an installed capacity of approximately 6,205 metric tonnes per annum and caters to both domestic and export markets.
The company operates entirely under a B2B model and focuses on institutional customers, helping maintain predictable demand and long-term business relationships.
Objects of the Issue
The company plans to utilise the IPO proceeds towards:
Setting up a new manufacturing facility.
Meeting working capital requirements.
Supporting general corporate purposes.
Out of the total proceeds, approximately ₹17.40 crore will be invested in capital expenditure while ₹12 crore will be used for working capital needs.
Financial Snapshot
Particulars
FY24
FY25
FY26
Revenue
₹43.75 Cr
₹53.54 Cr
₹56.84 Cr
Profit After Tax
₹4.08 Cr
₹7.67 Cr
₹12.52 Cr
EBITDA
₹6.69 Cr
₹10.93 Cr
₹16.76 Cr
ROE
-
-
45.97%
ROCE
-
-
47.60%
The company reported a 63% increase in profit after tax in FY26 while maintaining healthy margins and return ratios, highlighting improving operational efficiency.
GMP and Subscription Update
As of the latest available data, the IPO has been subscribed 18.47 times, with strong participation from retail and non-institutional investors. As of 10 July 2026, the latest Grey Market Premium (GMP) for the IPO stands at ₹45 per share, indicating an estimated listing price of ₹163 per share, a premium of around 38.14% over the issue price of ₹118. However, GMP values can change frequently and should not be considered a guarantee of listing gains or future performance.
Key Strengths
Indigenous manufacturer benefiting from import substitution opportunities.
Strong profitability and improving margins.
Presence in industries with high entry barriers.
Diversified customer base across multiple industrial sectors.
Expansion plans supported through IPO proceeds.
Conclusion
Devson Catalyst operates in a niche industrial segment with strong profitability metrics and healthy return ratios. Its planned capacity expansion and growing presence in domestic and export markets position the company well to benefit from increasing demand from industrial sectors in India and overseas.
Disclaimer: This article is for informational purposes only and should not be considered investment advice. IPO details, GMP, subscription data and other market information may change and may not always be accurate or updated. Investors should review the RHP and consult a financial advisor before making any investment decisions.
Author: Komal Bhatt
Komal Bhatt is a finance content writer at InvestKraft, specialising in well-researched articles on financial products, stock markets, and investment opportunities, with a particular focus on unlisted shares.
She holds a Master’s degree in Commerce from the University of Delhi, which gives her a solid academic foundation in finance and business. With over three years of hands-on experience in creating digital finance content, Komal has developed a clear understanding of investor needs through her work on wealth management, NISM certification programs, and market education materials.
Komal is passionate when it comes to breaking down complex financial concepts into simple, accurate and actionable insights. Her goal is to help everyday investors understand markets better and make more informed decisions based on reliable, research-backed information.
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