Devson Catalyst came to market through an SME IPO that opened on 9 July 2026 and closed on 13 July 2026, and the shares listed on 16 July 2026 on BSE SME. The price band was ₹112 to ₹118 per share and one lot was 1200 shares, so the minimum application was ₹1,41,600. The issue size was ₹42.34 crore. It combined a fresh issue of new shares with an offer for sale by existing shareholders.
It listed at ₹196.15, a gain of 66.2% against the issue price of ₹118. MUFG Intime India Pvt.Ltd was the registrar to the issue, and JJ IPO Advisors Pvt.Ltd was the lead manager.
As of 13 July 2026.
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Overall the issue was subscribed 226.49 times.
Devson Catalyst Limited is an indigenous producer of catalysts, adsorbents, and ceramic balls, which are critical elements of several industrial processes. The company runs a manufacturing plant in Gujarat, with a production capacity of approximately 6,205 metric tons per year. These materials are delivered to industries including oil & gas refining, petrochemicals, steel, fertilizers, and other industrial processing units. They enable efficient processing, reliability, and sustainability of industrial operations.
The company caters to the needs of customers from both the domestic as well as international markets. The manufacturing plant of the company is situated at Plot Nos. 213 to 218 and 233 to 237, Phase II, Ambawadi, GIDC, Wadhwan City, Surendranagar, Gujarat – 363030, India. The plant possesses all necessary equipment for production and maintains standard manufacturing protocols and internal quality control systems to ensure quality. The total manufacturing capacity of the plant is 6,205 MT per year.
As described in the offer document.
| Metric | 31-Mar-26 | 31-Mar-25 | 31-Mar-24 |
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Devson Catalyst Limited raised ₹11.81 crore from 6 anchor investors at ₹118 per share on July 8, 2026. India Max Investment Fund Limited led the allocation at 31.77%, followed by Invicto Multiplier Fund at 17.15% and Brescon Opportunities Fund at 17.03%.
Pratapbhai Devjibhai Siyania, Prahladbhai Devjibhai Shiyaniya, Patel Savan Prahladbhai, Patel Krishna Savanbhai. Promoter holding 100% before the issue.
Work out the listing gain for this SME IPO
If the retail portion is not fully subscribed, every valid application is allotted in full. If it is oversubscribed, SEBI's rules require that as many applicants as possible receive at least one lot, so the shares are allotted by a computerised lottery across all valid applications, one lot each, until the retail portion is exhausted. Applying for more lots does not improve your chance in a lottery; it only increases what you receive if the issue is under-subscribed.
The basis of allotment document, published by the registrar on the allotment date, states the ratio: for example, one applicant in seven received one lot.
Allotment status is published by the registrar on its website, searchable by PAN, application number or demat account, and also on the exchange's website. Allotted shares are credited to the demat account the day before listing, and blocked money for unsuccessful applications is released the same day. The Rupix app can check allotment status by PAN once the registrar publishes it.
Shares list within three working days of the issue closing. On listing day the exchanges run a special pre-open session from nine o'clock, during which orders are collected and an opening price is discovered from them; trading in the share begins after that, usually around ten. The opening price is the listing price that appears on this page once the issue has listed, and the listing gain or loss is the difference between it and the issue price.
For a mainboard issue, the share then trades in the normal way with the exchange's price band for a new listing. For an SME issue, shares trade in lots rather than one at a time, and the market can be thin, so selling on listing day is not always possible at the opening price. Capital gains on shares sold within a year of allotment are short-term and taxed at the short-term rate.
Devson Catalyst IPO was a ₹42.34 crore book-built issue, comprising a fresh issue of ₹39.39 crore and an offer for sale of ₹2.95 crore. It was priced at ₹112–₹118 per share with a lot size of 1,200 shares; the minimum retail application was 2,400 shares (₹2,83,200). The IPO was open from July 9 to July 13, 2026 and was subscribed 226.49x.
Shares listed on BSE SME on July 16, 2026 at ₹196.15, a 66.2% premium to the issue price of ₹118. MUFG Intime India Pvt. Ltd. is the registrar. JJ IPO Advisors Pvt. Ltd. is the book running lead manager.
The price band of Devson Catalyst IPO is ₹112 to ₹118 per share.
The lot size of Devson Catalyst IPO is 1200 shares.
The minimum investment for Devson Catalyst IPO is approximately ₹2,83,200 based on the upper price band.
The allotment date of Devson Catalyst IPO is Jul 14, 2026.
Devson Catalyst IPO's final recorded GMP before listing was ₹44 per share (a 37% premium over the ₹118 upper price band). The shares listed at ₹196.15. GMP is unofficial and does not forecast or guarantee the actual listing price.
You can check Devson Catalyst IPO allotment status on the registrar or stock exchange websites using your PAN or application number after allotment. You can also check the Devson Catalyst IPO allotment status on Rupix for quick and easy access.
₹112 to ₹118 per share, against a face value of ₹10. Most applicants bid at the cut-off price, the top of the band, so that the application was valid whatever price the issuer finally fixed.
One lot was 1200 shares, and every application had to be a whole number of lots. At the top of the band that made the minimum application ₹1,41,600. After listing, SME shares also trade in lots rather than one share at a time.
₹1,41,600, for one lot of 1200 shares at the top of the price band. The amount was blocked in the applicant's bank account through ASBA or a UPI mandate while the issue was open, and released on the allotment date to applicants who were not allotted shares.
It opened on 9 July 2026 and closed on 13 July 2026.
The basis of allotment was published on 14 July 2026 by MUFG Intime India Pvt.Ltd, and allotted shares were credited to demat accounts before listing.
The shares listed on 16 July 2026 on BSE SME, opening at ₹196.15.
The issue size was ₹42.34 crore. The fresh issue was 31,58,000 shares (aggregating up to ₹39.39 crore). The offer for sale was 2,50,000 shares (aggregating up to ₹2.95 crore).
It listed at ₹196.15 against an issue price of ₹118, a gain of 66.2 percent on listing day.