IPO Snapshot
Key metrics and details at a glance.
Price Band
₹112 - ₹118
Per ShareLot Size
1200 Shares
Minimum Investment
₹1,34,400
Issue Size
₹42.34 Cr
Face Value
₹10
Per ShareIPO Type
Book Building - SME
Retail Quota
35.17%
QIB Quota
49.75%
NII Quota
15.08%
IPO Timeline
Important dates for your applying strategy.
Subscription Status
Live demand across investor categories.
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*Real-time data subject to exchange updates
Devson Catalyst Ltd
Business model, operations, and market positioning.
About the Company
Devson Catalyst Limited is an ISO 9001:2015 and ISO 45001:2018 certified company and 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 approximately 6,205.00 metric tons.
Industry Overview
India's industrial catalyst and adsorbent industry is a key enabler for sectors such as oil refining, petrochemicals, fertilizers, chemicals, and pharmaceuticals, where catalysts improve reaction efficiency, product yield, and environmental compliance. Demand is closely linked to capacity expansion in these industries as India strengthens its position as a global hub for refining and specialty chemical manufacturing. The industrial catalyst market in India is estimated to grow at a CAGR of approximately 6%-7% over FY2025-FY2031, supported by refinery modernization, petrochemical capacity additions, and stricter environmental regulations. Catalysts, adsorbents, and reactor support media such as activated alumina, molecular sieves, and inert ceramic balls are widely used in purification, dehydration, sulphur removal, and hydroprocessing applications. These materials enhance process efficiency, protect downstream equipment, and extend catalyst life in industrial operations. Increasing focus on cleaner fuels, emission control, and process optimization is further driving the adoption of advanced catalytic systems. As industrial production expands and environmental standards become more stringent, demand for specialized catalysts and adsorbents is expected to increase. Overall, the industry is positioned as a critical contributor to India's industrial efficiency and energy-transition objectives.
Company History
Our Company was originally incorporated as "'Devson Insulators Private Limited" as a Private Limited Company under the Provisions of the Companies Act, 1956 vide Certificate of Incorporation dated September 10, 2004 from the Registrar of Companies, Gujarat, Dadra & Nagar Haveli. Later, the name of our company was changed from "'Devson Insulators Private Limited" to "Devson Catalyst Private Limited" pursuant to a resolution passed in the Extra Ordinary General Meeting held on June 16, 2017 and fresh Certificate of Incorporation was issued by Registrar of Companies, Ahmedabad on July 12, 2017. Further, pursuant to special resolution passed by the members in the Extra Ordinary General Meeting dated October 27, 2025, our company has been converted from Private limited to Public Limited and a fresh Certificate of Incorporation was issued by Registrar of Companies, Central Processing Centre on November 06, 2025. Consequently, the name of Company changed from "Devson Catalyst Private Limited" to "Devson Catalyst Limited". The Corporate Identification Number of the Company is U31300GJ2004PLC044722.
Growth Strategy
- Exploring and developing new catalysts adsorbents and ceramic balls to better serve our customers in domestic and international markets.
- Expanding our customer base, increasing business share amongst existing customers and expanding to different geographies.
- Operational Efficiency and Manufacturing Excellence.
Promoter Holding (Pre-Issue)
100%
Promoter Holding (Post-Issue)
72.27%
Issue Type
Book Building - SME
ISIN
INE2KRP01017
Financial Performance
Revenue, profit, and asset growth over the last three financial years.
Data presented in crores for FY20 to FY24.
Objects of the Issue
How the company plans to utilize IPO proceeds.
The funds raised through this IPO will be used for:
Initial public offer of upto 35,88,000 equity shares of face value of Rs. 10/- each of Devson Catalyst Limited ("DCL" or the "Company" or the "Issuer") for cash at a price of Rs. 112-118 per equity share including a share premium of Rs. 102-108 per equity share (the "Offer Price") comprising of a fresh offer of 33,38,000 equity shares at a price of Rs. 112-118 aggregating to Rs. 37.39-39.39 Crores (the "Fresh Issue") and an offer for sale of 2,50,000 equity shares by the selling shareholders ("Offer For Sale") at a price of Rs. 112-118 aggregating to Rs. 2.8-2.95 Crores , of which 1,80,000 equity shares of face value of Rs. 10/- each for cash at a price of Rs. 112-118 per equity share including a share premium of Rs. 102-108 per equity share aggregating to Rs. 2.02-2.12 Crores will be reserved for subscription by market maker to the offer (the "Market Maker Reservation Portion") and 64,800 equity shares of face value of Rs. 10/- each for cash at a price of Rs. 112-118 per equity share including a share premium of Rs. 102-108 per equity share aggregating to Rs. 0.73-0.76 Crores will be reserved for subscription by eligible employees (the "Employee Reservation Portion"). The offer less the market maker reservation portion and employee reservation portion i.e. net offer of 33,43,200 equity shares of face value of Rs. 10/- each at a price of Rs. 112-118 per equity share including a share premium of Rs. 102-108 per equity share aggregating to Rs. 37.44-39.45 Crores is herein after referred to as the "Net Offer". The offer and the net offer will constitute upto 26.41% and 24.60%, respectively, of the post offer paid up equity share capital of the company. The face value of the equity shares is Rs. 10/- each. Price Band: Rs. 112/- to Rs. 118/- per equity share of face value Rs. 10/- each. The floor price is 11.2 times of the face value and the cap price is 11.8 times of the face value of the equity shares. Bids can be made for a minimum of 2400 equity shares and in multiples of 1200 equity shares thereafter.
*Subject to approvals and market conditions.
- Indigenous manufacturer of Catalysts, Adsorbents and Ceramic balls in India.
- Track record of profitability and consistent financial performance in an industry with significant entry barriers.
- Strategically located Manufacturing Facilities with capabilities to handle multiple products lines.
- Well-positioned in an industry with several entry barriers.
- Strong customer base & relationship with global footprint.
- The company's revenues is concentrated among a limited number of customers, and the loss of one or more such customers, deterioration in their financial condition, or a reduction in their demand for its products could adversely affect the company business, results of operations, financial condition and cash flows.
- The company's dependence on a limited number of suppliers for procurement of key raw materials, and the absence of long-term supply contracts, may adversely affect its operations and financial performance.
- The company's business is significantly reliant on its ability to obtain orders through competitive bidding processes. Any inability to successfully secure new contracts, or the early termination of existing contracts, could has a material adverse effect on its business operations, financial position, and results of operations.
- There has been instances of delays in filings of certain forms which were required to be filed as per the reporting requirements as well as discrepancies in the forms submitted to the Registrar of Companies (ROC) in accordance with the Companies Act, 2013.
- There has been certain instances of delays in payment of certain statutory dues by its. Any further delays in payment of statutory dues may attract financial penalties from the respective government authorities and in turn may has a material adverse impact on the company financial condition and cash flows.