Devson Catalyst Ltd

·

₹118.00 Issue Price

2026-07-09 – 2026-07-13

www.devsongroup.com Bookbuilding IPO · BSE SME

Open Date

2026-07-09

Close Date

2026-07-13

Listing Date

2026-07-16

Allotment Date

2026-07-14

Current Price

₹118.00

High / Low

₹— / ₹—

ROCE

47.60 %

ROE

45.97 %

Face Value

₹10

About

Devson Catalyst Limited is an 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 annu…

Devson Catalyst Limited is an 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 around 6,205 metric tons.Its products are supplied to industries such as oil and gas refineries, petrochemicals, steel, fertilizers, and other industrial processing sectors. These materials help improve process efficiency, increase operational reliability, and support more sustainable industrial operations. The company serves customers in both domestic and international markets.The manufacturing unit is located at Plot Nos. 213 to 218 and 233 to 237, Phase II, Ambawadi, GIDC, Wadhwan City, Surendranagar, Gujarat – 363030, India. The facility is equipped with the necessary machinery and infrastructure for production, and the company follows standard operating procedures and internal quality checks to maintain consistent product quality. The facility's total installed manufacturing capacity is 6,205 MT per year.Devson Catalyst Limited operates entirely in thebusiness-to-business (B2B)segment. Its products are supplied mainly to institutional and industrial customers, and the company does not sell directly to individual consumers. This B2B model helps the company plan production and manage its supply chain according to the specific requirements of industrial clients, including product specifications, order schedules, and delivery timelines.Products:Catalyst: A substance that speeds up the chemical reaction without being consumed or permanently changed itself.Adsorbent: It removes unwanted substances from air, gas or liquids by making them stick to its surface.Ceramic Balls: It is a small, hard sphere made from ceramic material that is placed inside industrial reactors and towers.As of May 31, 2026, the company had 56 permanent employees.Competitive StrengthsIndigenous 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.Operates in an industry with significant entry barriers, supporting long-term business stability.Strong customer relationships and a growing presence in global markets.

📍 Plot No 213 To 218 and 233 To 237, Phase II, Ambawadi, GIDC Wadhwancity, Surendr…

📞 91 7201010244

✉️ info@devsongroup.com

Analysis

Pros

ROE of 45.97% indicates good return on equity.
ROCE of 47.60% shows efficient capital usage.

Cons

Trading at 5.8× book value.

Pros and cons are machine generated. Please exercise caution and do your own analysis.

Subscription Status

Consolidated figures

1.22× overall

Metric	QIB	NII (HNI)	Retail	Total
Subscription	67.75×	261.79×	239.76×	1.22×
Shares	16,63,200	5,04,000	11,76,000	64,800
Bids	11,26,89,600	13,19,40,000	28,19,56,800	79,200

▼ Category-wise Detailed Breakdown

Category	Subscription	Offered	Bid Shares	Amt (₹ Cr)
QIB	67.75×	16,63,200	11,26,89,600	₹1,329.74
NII (HNI)	261.79×	5,04,000	13,19,40,000	₹1,556.89
Retail	239.76×	11,76,000	28,19,56,800	₹3,327.09
Market Maker	1.00×	1,80,000	1,80,000	₹2.12
Total	1.22×	64,800	79,200	₹6,215.84 Cr

Applications: - Total Bid Amount: ₹6,215.84 Cr

Profit & Loss

Figures in ₹ Crores / Amount in ₹ Crore

Metric	31 Mar 2026	31 Mar 2025	31 Mar 2024
Revenue	56.84	53.54	43.75
EBITDA	16.76	10.93	6.69
Profit After Tax	12.52	7.67	4.08
Net Worth	33.50	20.98	13.36
Total Assets	41.63	27.38	21.49
Reserves	23.25	20.73	13.06
Borrowings	—	2.78	4.17

Sales Growth
3 Years:	-23%
Latest:	43.75 Cr

Profit Growth
3 Years:	-67.4%
Latest PAT:	4.08 Cr

Return on Equity
ROE:	45.97%
ROCE:	47.60%

Key Financial Ratios

Profitability

ROE 45.97%

ROCE 47.60%

RONW 37.38%

EBITDA Margin 29.49%

Valuation

Pre EPS 12.22

Post EPS 9.21

Pre P/E 9.66×

Post P/E 12.81×

P/BV 5.76×

Leverage & Growth

Debt / Equity 0.07×

Sales Growth (3yr) -23%

Profit Growth (3yr) -67.4%

Latest Revenue 43.75 Cr

Latest PAT 4.08 Cr

Objects of the Issue

1 Funding the Capital Expenditure requirements towards setting up of a new manufacturing unit ₹17.40 Cr

2 Funding the working capital requirements of the Company ₹12.00 Cr

3 General corporate purposes

IPO Schedule & Important Dates

IPO Open

2026-07-09

Done ✓

IPO Close

2026-07-13

Done ✓

Allotment

2026-07-14

Done ✓

Refund

2026-07-15

Done ✓

Demat Credit

2026-07-15

Done ✓

Listing

2026-07-16

Today ←

Lot Size & Investment Details

RETAIL MIN

₹141,600

1 lot · 1200 shares

RETAIL MAX

₹283,200

2 lots · 2,400 shares

HNI MIN

₹424,800

3 lots

Category	Lots	Shares	Amount (₹)
Retail (Min)	1200	1,200	₹141,600
Retail (Max)	2	2,400	₹283,200
HNI (Min)	3	3,600	₹424,800

Pre-Issue Holding: 1,02,50,000 shares Post-Issue Holding: 1,35,88,000 shares

Lead Managers & Market Makers

Book Running Lead Managers

JJ IPO Advisors Pvt.Ltd

Market Makers

MNM Stock Broking Pvt.Ltd.

Allotment Status

Allotment Date: 2026-07-14

Registrar: MUFG Intime India Pvt.Ltd

Check Allotment

022-49186000

devsoncatalyst.smeipo@in.mpms.mufg.com

https://in.mpms.mufg.com/Initial_Offer/public-issues.html