Devson Catalyst share price rose 2% on Thursday, 16 July, after making a blockbuster stock market debut earlier in the day on BSE SME.Devson Catalyst share price today listed at ₹196.15, a 66.2% premium to the issue price of ₹118, on BSE SME.
The Devson Catalyst IPO was subscribed 155.64 times during the three-day bidding period, which opened on 9 July and closed on 13 July. The company had fixed the price band at ₹112-118 per equity share. Investors could apply for the Devson Catalyst IPO in lots of 1,200 equity shares.
Devson Catalyst is an indigenous manufacturer of catalysts, adsorbents and ceramic balls used across a broad range of industrial applications. Its products serve industries such as oil and gas refining, petrochemicals, steel, fertilisers and other process industries, helping customers enhance operational efficiency, improve process reliability and support sustainable manufacturing practices.
The company operates a manufacturing facility in GIDC, Wadhwan City, Surendranagar, Gujarat, with an installed production capacity of around 6,205 metric tonnes per annum. The plant is equipped with modern manufacturing infrastructure and stringent quality control systems to ensure consistent product quality and reliability.
Devson Catalyst follows a business-to-business (B2B) model, supplying its products exclusively to industrial and institutional customers in both domestic and international markets. The company focuses on customised product development and customer-centric production planning, enabling it to meet the specific technical and operational requirements of clients across diverse industries.
Devson Catalyst IPO details
The IPO comprised a fresh issue of 33.38 lakh equity shares worth ₹39.39 crore and an offer for sale (OFS) of 2.50 lakh equity shares, aggregating ₹2.95 crore.
The company plans to utilise the net proceeds from the fresh issue to expand its manufacturing capacity, meet working capital requirements, and fund general corporate purposes. Of the total proceeds, ₹17.40 crore has been earmarked for setting up a new manufacturing facility, while ₹12 crore will be deployed towards working capital. Another ₹5.69 crore has been allocated for general corporate purposes, with ₹4.63 crore earmarked to meet issue-related expenses. The total estimated utilisation of the net proceeds stands at ₹39.71 crore.
JJ IPO Advisors Pvt. Ltd. is the book-running lead manager to the issue, while MUFG Intime India Pvt. Ltd. is the registrar. MNM Stock Broking Pvt. Ltd. has been appointed as the market maker for the IPO.
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