Devson Catalyst IPO
Miscellaneous • ₹42.34 Cr
High risk because:
- 5 material risk factors disclosed in DRHP
- High customer concentration flagged in the DRHP
- Regulatory or legal risks cited in DRHP
IPOFins risk score from DRHP risk factors, subscription demand & issue structure
Price Band
₹118
Lot Size
1200 shares
Issue Size
₹42.34 Cr
Open
09 Jul 2026
Close
13 Jul 2026
Subscription
204×
IPO Schedule
| Issue Open Date | 09 Jul 2026 |
| Issue Close Date | 13 Jul 2026 |
| Allotment Date | 14 Jul 2026 |
| Listing Date | 15 Jul 2026 |
About Devson Catalyst
Devson Catalyst Limited is engaged in the manufacturing of catalysts, adsorbents, and ceramic balls used in various industrial processes. Its catalysts help accelerate chemical reactions, adsorbents are used to remove impurities such as moisture and dust from gases and liquids, and ceramic balls provide support for catalyst beds in industrial reactors and towers. The company’s products are supplied to industries including oil and gas refineries, petrochemicals, steel, fertilisers, and other industrial processing sectors. Devson Catalyst operates a manufacturing facility at GIDC, Wadhwan City, Surendranagar, Gujarat, with an installed production capacity of approximately 6,205 metric tonnes per annum. The company primarily serves business-to-business (B2B) customers and supplies its products to domestic as well as international markets, with exports to more than 15 countries. It was incorporated in 2004 and was initially engaged in manufacturing electrical products before transitioning to its current business.
Company Details
Founders / Promoters
Mr Patel Savan Prahladbhai
Founded
2004
Registrar
MUFG Intime India Pvt Ltd
Documents
DRHP / RHP Document (PDF)
View official prospectus →
Investment Analysis
Devson Catalyst — IPOFins Verdict
QuantitativeDriven by QIB demand at 168.6x and elevated disclosed risk (8/10), Devson Catalyst listed at a premium of 66.2% to its issue price. SME listings are also thinner and more volatile after listing. The signals lean constructive — still confirm valuation against listed peers and read the DRHP before applying beyond one lot.
- The company is an indigenous manufacturer of catalysts, adsorbents, and ceramic balls used across multiple industrial sectors. It manufactures products used by industries such as oil and gas refining,
- The company claims to have a strategically located manufacturing facility in Surendranagar, Gujarat. The facility is spread across approximately 11,619 square metres and is supported by storage infras
- The company derives a significant portion of its business from repeat customers. As of FY26, it had 88 repeat customers, who contributed approximately 79.33% of its revenue from operations, compared t
- The company has an international presence, with exports contributing a sizeable share of its revenue. During FY26, exports accounted for approximately 37.30% of revenue from operations, with products
- The company claims to use specialised manufacturing equipment and environmentally focused production practices. It states that its manufacturing facility is equipped with machinery such as rotary drye
Score breakdown — what drove this verdict
High risk from DRHP → score -1.2
Institutional subscription → score +2.0
Strong retail interest → score +0.5
Actual listing outcome → score +1.5
SME IPOs have lower liquidity after listing → score −0.5
Base score: 5.0 · Final score = base + all factor adjustments, capped 1–10. Full methodology →
IPOFins Score is a quantitative signal from subscription demand, disclosed risk, and listing data — not investment advice. Not SEBI-registered.
Listing Performance
Issue Price
₹118
Listing Price
₹196.15
Listing Gain/Loss
+66.23%
Listing Date
15 Jul 2026
Price Since Listing
Returns are measured against the ₹118 issue price.
Listing
₹196.15
+66.2%
1 Week
₹212.65
+80.2%
Current
₹205.05
+73.8%
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FAQ
What is the price band of Devson Catalyst IPO?
The price band is ₹118 per share with a lot size of 1200 shares. Minimum investment: ₹1,41,600.
What does Devson Catalyst do?
Devson Catalyst Limited is engaged in the manufacturing of catalysts, adsorbents, and ceramic balls used in various industrial processes. Its catalysts help accelerate chemical reactions, adsorbents are used to remove impurities such as moisture and dust from gases and liquids, and ceramic balls provide support for catalyst beds in industrial reactors and towers. The company’s products are supplied to industries including oil and gas refineries, petrochemicals, steel, fertilisers, and other industrial processing sectors. Devson Catalyst operates a manufacturing facility at GIDC, Wadhwan City, Surendranagar, Gujarat, with an installed production capacity of approximately 6,205 metric tonnes per annum. The company primarily serves business-to-business (B2B) customers and supplies its products to domestic as well as international markets, with exports to more than 15 countries. It was incorporated in 2004 and was initially engaged in manufacturing electrical products before transitioning to its current business.
Should I apply for Devson Catalyst IPO?
Devson Catalyst listed at ₹196.15 (+66.2% premium to the ₹118 issue price) after 203.7x subscription. IPOFins Score 7/10: Driven by QIB demand at 168.6x and elevated disclosed risk (8/10), Devson Catalyst listed at a premium of 66.2% to its issue price. SME listings are also thinner and more volatile after listing. The signals lean constructive — still confirm valuation against listed peers and read the DRHP before applying beyond one lot.
Who founded Devson Catalyst?
Devson Catalyst was founded by Mr Patel Savan Prahladbhai in 2004.