Devson Catalyst IPO opening date announced: Size, listing, and other details about the upcoming SME IPO

Devson Catalyst Limited, a manufacturer of catalysts and specialty chemical products, has announced the opening of its initial public offering (IPO), which will remain open for subscription from July 9 to July 13. The company aims to raise ₹42 crore through the issue, with a price band fixed at ₹112-118 per share.

The IPO comprises a fresh issue of 0.33 crore equity shares aggregating to ₹39.39 crore and an offer for sale (OFS) of 0.03 crore equity shares worth ₹2.95 crore.

Of the total issue size, 50% has been reserved for Qualified Institutional Buyers (QIBs), 15% for Non-Institutional Investors (NIIs), and 35% for retail investors. In addition, the company has reserved 64,800 equity shares for employees and 1,80,000 equity shares for the market maker, taking the net offer to 33,43,200 equity shares.

The IPO lot size has been fixed at 1,200 shares, requiring a minimum investment of ₹1.41 lakh (one lot) for retail investors at the upper end of the price band. The SME IPO is proposed to be listed on the BSE SME platform.

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.

The basis of allotment is expected to be finalised on July 14, while the shares are tentatively scheduled to list on the BSE SME platform on July 16.

The company plans to utilise the net proceeds from the fresh issue primarily towards funding capital expenditure for setting up a new manufacturing facility and meeting its working capital requirements. A portion of the proceeds will also be used for general corporate purposes.

Commenting on the IPO, Patel Savan Prahladbhai, Managing Director of Devson Catalyst Limited, said, "Over the last two decades, we have built Devson Catalyst into a trusted manufacturer of catalysts, adsorbents, and ceramic balls serving critical industrial processes across India and global markets."

"Our focus on product quality, technical expertise, and customer-centric innovation has enabled us to establish long-term relationships across key industries."

He further added, “The proposed IPO will support our capacity expansion plans and working capital requirements, enabling us to capitalise on the growing opportunities arising from India's refining, petrochemical, and specialty chemicals sectors while strengthening our position as an indigenous manufacturer of advanced catalyst solutions.”

About the company

Incorporated in 2004, Devson Catalyst is engaged in the manufacturing of catalysts, adsorbents, ceramic balls, and related products. Its products are used across industries, including petroleum refining, petrochemicals, fertilisers, gas processing, environmental applications, and specialty chemicals.

The company operates manufacturing facilities in Gujarat and serves customers in both domestic and international markets.

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