Devson Catalyst shares to debut today; GMP hints at 42% listing gain

Devson Catalyst, a manufacturer of catalysts, adsorbents, and ceramic balls for oil & gas, petrochemicals, steel, and fertiliser industries, is set to debut on the exchanges after its Rs 42.34 crore SME IPO closed 220.35 times subscribed. The issue was priced at Rs 118 per share, and grey market premium of Rs 49 indicates an expected listing price of around Rs 167, about a 42% premium. Proceeds will be used for a new manufacturing facility (Rs 17.40 crore), working capital (Rs 12 crore), general corporate purposes, and issue expenses.