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Devson Catalyst Ltd
MiscellaneousIPOSME
₹118 - 118
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.
Lot1,200Min Invest₹2,83,200Face Value₹10Issue Size₹42 CrFresh Issue₹39 CrOffer for Sale₹3 CrListing Price₹196CMP₹334
Timeline
9 Jul
Bidding opens
13 Jul
Bidding closes
14 Jul
Allotment
15 Jul
Refund & demat credit
16 Jul
Listing
Subscription
Subscription opens once dates are announced
Reports
Offer Details
Terms
Issue Size₹42 Cr0.36 Cr shares
Fresh Issue₹39 Cr
Offer for Sale₹3 Cr
Face Value₹10
Lot Size1,200 shares
ReservationQIB 49.75% · NII 15.08% · RETAIL 35.17%
Application Sizes
Retail₹2,83,2001-1 lots
sNII₹2,83,200from 2 lots
bNII₹11,32,800from 8 lots
Managers & Registrar
Lead ManagerJJ IPO Advisors Private Limited
RegistrarMUFG Intime India Pvt Ltd
Ownership & Proceeds
Offer for Sale
Selling ShareholderShares OfferedAmt ₹ CrPrahladbhai Devjibhai ShiyaniyaPRMTR64,3690.76Patel Savan PrahladbhaiPRMTR40,6370.48Pratapbhai Devjibhai SiyaniaPRMTR82,7370.98Patel Krishna SavanbhaiPRMTR10,2410.12Gayatriben PatelPRMTR9,7530.12Shiyania Gitaben PPRMTR42,2630.50Total2,50,0002.95
Shareholding
CategoryPre IPOPost IPOPromoter Group100%74.97%Public0%25.03%
Objects of the Issue
- Funding the Capital Expenditure requirements towards setting up of a new manufacturing unit
- Funding the working capital requirements of the Company
- General corporate purposes
Anchor Book
Bid Date08-Jul-202630-day lock-in12-Aug-202690-day lock-in11-Oct-2026
Financials
Profit & Loss
| Financial Year | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| RevenueCr | 33 | 43 | 53 | 56 |
| Operating ProfitCr | 4 | 7 | 11 | 17 |
| OPM% | 11.1 | 15.4 | 20.6 | 30.1 |
| PBTCr | 3 | 6 | 10 | 17 |
| PATCr | 2 | 4 | 8 | 13 |
| EPS | 2 | 4 | 7 | 12 |
Balance Sheet
| Financial Year | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Equity CapitalCr | 0 | 0 | 0 | 10 |
| ReservesCr | 9 | 13 | 21 | 23 |
| BorrowingsCr | 1 | 4 | 3 | 3 |
| Total AssetsCr | 16 | 21 | 27 | 42 |
Cash Flow
| Financial Year | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Operating Cash FlowCr | 2 | 0 | 5 | 5 |
| Investing Cash FlowCr | -1 | -3 | -2 | -3 |
| Financing Cash FlowCr | -1 | 3 | -2 | -1 |
| Net Cash FlowCr | 1 | 0 | 0 | 1 |
Strengths & Risks
Strengths · as stated in the DRHP
- 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.
- Experienced management team and qualified personnel with significant industry experience.
Strategies · as stated in the DRHP
- 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.
Risks · as stated in the DRHP
- 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.
- Volatility in the prices and availability of key raw materials and operating inputs, and constraints on the company ability to recover cost increases, could materially and adversely affect its business operations, financial performance and profitability.