New Delhi. The Rs 42.34 crore IPO of Devson Catalyst, a company that produces catalysts and ceramic balls for industrial use, was launched for subscription today.
Bidding in this IPO can be done till July 13. After the closing of the issue, the shares will be allotted on July 14, while the allotted shares will be credited to the demat account on July 15.
The company’s shares may be listed on the SME platform of BSE on July 16. As soon as it was launched for subscription, this IPO was taken up by investors, due to which it was fully subscribed even before 11 pm.
The price band for bidding in this IPO has been fixed at Rs 112 to Rs 118 per share, while the lot size is 1,200 shares.
In this IPO, retail investors will have to bid for two lots i.e. 2,400 shares, for which they will have to invest Rs 2,83,200.
A total of 35.88 lakh shares with face value of Rs 10 are being issued under this IPO. Of these, 2.5 lakh shares are being issued through the offer for sale window.
In this IPO, 47.21 percent share has been reserved for Qualified Institutional Buyers (QIB). Apart from this, 33.38 percent share is reserved for retail investors and 14.31 percent share is reserved for non-institutional investors (NIIs).
Apart from this, 5.10 percent share has been reserved for market makers. JJ IPO Advisors Private Limited has been appointed as the book running lead manager for this issue, while MUGF Intime India Private Limited has been appointed as the registrar. MNM Stock Broking Private Limited is the market maker of the company.
Talking about the financial condition of Devson Catalyst, as per the claim made in the Draft Red Herring Prospectus (DRHP) submitted to the capital market regulator SEBI, its financial health has continuously strengthened.
In the financial year 2023-24, the company had a net profit of Rs 4.08 crore, which increased to the level of Rs 7.67 crore in the next financial year 2024-25. Whereas in the last financial year 2025-26, the net profit of the company jumped to the level of Rs 12.52 crore.
During this period the company’s revenue receipts also increased. It received a total revenue of Rs 43.75 crore in the financial year 2023-24, which increased to Rs 53.54 crore in the financial year 2024-25.
There was a slight increase in the company’s revenue receipts during the last financial year 2025-26. This year the company received a revenue of Rs 56.84 crore.
The debt burden on the company declined during this period, due to which the company is now debt free. At the end of the financial year 2023-24, the company had a debt of Rs 4.17 crore, which came down to Rs 2.78 crore in the next financial year 2024-25. By the end of the next year i.e. the last financial year 2025-26, the company was completely free from the burden of debt.
The reserves and surplus of the company continued to increase during this period. At the end of the financial year 2023-24, the reserve and surplus of the company was at the level of Rs 13.06 crore, which increased to the level of Rs 20.73 crore in the financial year 2024-25. Whereas in the last financial year 2025-26, the reserve and surplus of the company had jumped to the level of Rs 23.25 crore.
During this period, the net worth of the company also increased continuously. In the financial year 2023-24, it was at the level of Rs 13.36 crore, which increased to Rs 20.98 crore in 2024-25. The company’s net worth also jumped in the last financial year 2025-26. By the end of this financial year, the company’s net worth jumped to Rs 33.50 crore.
Similarly, the company’s EBITDA (Earnings before Interest, Taxes, Depreciation and Amortization) was at the level of Rs 6.69 crore in 2023-24, which increased to the level of Rs 10.93 crore in 2024-25. At the same time, by the end of the last financial year 2025-26, the EBITDA of the company had jumped to the level of Rs 16.76 crore.
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