#smeipo

Devson Catalyst's SME IPO opened on Thursday, July 9 and closes Monday, July 13, in a price band of Rs 112-118 per share. The issue totals 35,88,000 shares aggregating up to Rs 42 crore — a fresh issue of 31,58,000 shares (up to Rs 37 crore) and an offer for sale of 2,50,000 shares (up to Rs 3 crore). The Surendranagar-based company makes catalysts, adsorbents, molecular sieves, activated alumina and ceramic balls for petrochemicals, refineries, fertilisers and industrial gas processing, and proceeds go to expansion and working capital.

The fact sheet's financials are the part worth a subscriber's time. Profit after tax has tripled in two years — Rs 4.08 crore in FY24, Rs 7.67 crore in FY25, Rs 12.52 crore in FY26 — while total income grew far more modestly from Rs 43.75 crore to Rs 56.84 crore.

Why it matters

EBITDA went from Rs 6.69 crore to Rs 16.76 crore, net worth from Rs 13.36 crore to Rs 33.50 crore, and total borrowing, Rs 2.78 crore in FY25, disappears from the FY26 line entirely.

The details

A margin expansion that steep into an IPO window is either genuine operating leverage in a niche catalyst franchise or a peak-earnings base for pricing — the document does not say which, and that open question, flagged for desk-check, is the diligence item for anyone bidding.

Who is affected

Prospective IPO subscribers face a diligence question over whether the steep margin expansion reflects sustainable operating leverage or a peak-earnings base timed for the offering.

Devson Catalyst's petrochemical, refinery and fertiliser customers stand to benefit from the company's expansion and working capital investments once proceeds are deployed.

What's next

Watch the IPO's subscription levels and listing performance as an early indicator of how the market reads the company's tripled PAT against modest revenue growth.

Continued monitoring of the company's post-listing financials will clarify whether the FY26 margin expansion proves durable.

Exit planning is essential for SME owners who want to maximize business value and achieve a successful transition. Whether through a strategic sale, private equity investment, management buyout, or IPO, early preparation is key. Clean financials, strong governance, accurate valuation, and expert advisory support help reduce risks and improve outcomes. A well-planned exit creates more options, stronger negotiating power, and better returns for founders and investors alike.

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𝐒𝐌𝐄𝐬 𝐏𝐥𝐚𝐧𝐧𝐢𝐧𝐠 𝐚𝐧 𝐈𝐏𝐎 𝐢𝐧 𝟐𝟎𝟐𝟔? 𝟔 𝐑𝐞𝐠𝐮𝐥𝐚𝐭𝐨𝐫𝐲 𝐂𝐡𝐚𝐧𝐠𝐞𝐬 𝐂𝐚𝐧 𝐌𝐚𝐤𝐞 𝐨𝐫 𝐁𝐫𝐞𝐚𝐤 𝐘𝐨𝐮𝐫 𝐉𝐨𝐮𝐫𝐧𝐞𝐲 🚀 Planning an IPO is no longer just for large corporations. Today, many Small and Medium Enterprises (SMEs) are seriously exploring the public markets to raise capital, improve credibility, and scale faster. 👉 𝐑𝐞𝐚𝐝 𝐦𝐨𝐫𝐞: https://asbgrowthventures.com/what-regulatory-changes-should-smes-know-before-planning-an-ipo-in-2026/ ➡️ 𝐊𝐞𝐲 𝐇𝐢𝐠𝐡𝐥𝐢𝐠𝐡𝐭𝐬: 🔹 𝐒𝐭𝐫𝐨𝐧𝐠𝐞𝐫 𝐅𝐢𝐧𝐚𝐧𝐜𝐢𝐚𝐥 𝐑𝐞𝐩𝐨𝐫𝐭𝐢𝐧𝐠: Maintain 3+ years of audited financials with clear revenue and cash flow reporting. 🔹 𝐂𝐨𝐫𝐩𝐨𝐫𝐚𝐭𝐞 𝐆𝐨𝐯𝐞𝐫𝐧𝐚𝐧𝐜𝐞 𝐑𝐞𝐪𝐮𝐢𝐫𝐞𝐦𝐞𝐧𝐭𝐬: Appoint independent directors, clearly define promoter roles, and establish robust internal compliance frameworks. 🔹 𝐏𝐫𝐨𝐦𝐨𝐭𝐞𝐫 𝐃𝐮𝐞 𝐃𝐢𝐥𝐢𝐠𝐞𝐧𝐜𝐞: Ensure clean tax and regulatory compliance history with transparent shareholding structures to pass promoter-level scrutiny. 🔹 𝐂𝐥𝐞𝐚𝐫 𝐈𝐏𝐎 𝐃𝐢𝐬𝐜𝐥𝐨𝐬𝐮𝐫𝐞𝐬: Draft a simple, truthful prospectus explaining your business model, risks, and fund usage. 🔹 𝐓𝐢𝐠𝐡𝐭𝐞𝐫 𝐅𝐮𝐧𝐝 𝐔𝐬𝐚𝐠𝐞 𝐌𝐨𝐧𝐢𝐭𝐨𝐫𝐢𝐧𝐠: Use IPO funds only for declared purposes with proper tracking. 🔹 𝐂𝐨𝐧𝐬𝐢𝐬𝐭𝐞𝐧𝐭 𝐂𝐨𝐦𝐩𝐥𝐢𝐚𝐧𝐜𝐞 𝐂𝐮𝐥𝐭𝐮𝐫𝐞: Maintain timely tax filings, labor compliance, and industry-specific regulatory adherence to demonstrate operational maturity. ➡️ 𝐇𝐨𝐰 𝐀𝐒𝐁 𝐆𝐫𝐨𝐰𝐭𝐡 𝐕𝐞𝐧𝐭𝐮𝐫𝐞𝐬 𝐂𝐚𝐧 𝐇𝐞𝐥𝐩: ASB Growth Ventures partners with SMEs to become IPO-ready, not just IPO-listed. We provide end-to-end support including IPO readiness assessment to identify gaps early, financial and compliance structuring for IPO-grade standards, governance and promoter advisory for board setup and promoter diligence, and comprehensive IPO planning support from pre-filing to post-IPO fund governance. 𝐂𝐎𝐍𝐓𝐀𝐂𝐓 𝐔𝐒 ✉️ [email protected] 📞 +91 98672 13664 🌐

𝐎𝐩𝐭𝐢𝐦𝐢𝐳𝐞 𝐘𝐨𝐮𝐫 𝐅𝐢𝐧𝐚𝐧𝐜𝐢𝐚𝐥 𝐀𝐫𝐜𝐡𝐢𝐭𝐞𝐜𝐭𝐮𝐫𝐞: 𝐓𝐡𝐞 𝐏𝐨𝐰𝐞𝐫 𝐨𝐟 𝐂𝐚𝐩𝐢𝐭𝐚𝐥 𝐒𝐭𝐫𝐮𝐜𝐭𝐮𝐫𝐢𝐧𝐠 & 𝐏𝐫𝐞𝐜𝐢𝐬𝐢𝐨𝐧 𝐕𝐚𝐥𝐮𝐚𝐭𝐢𝐨𝐧 A company's value is more than just a number—it is the bedrock of every strategic decision, from fundraising to long-term scaling. Whether you are an emerging SME or an established corporation, having the right capital structure and a defensible business valuation is critical for attracting the right investors and securing optimal financing. 𝐑𝐞𝐚𝐝 𝐦𝐨𝐫𝐞: 🔗 https://asbgrowthventures.com/capital-structuring-valuation-solutions/ ➡️ 𝐊𝐞𝐲 𝐇𝐢𝐠𝐡𝐥𝐢𝐠𝐡𝐭𝐬: ✅ 𝐏𝐫𝐞𝐜𝐢𝐬𝐢𝐨𝐧 𝐁𝐮𝐬𝐢𝐧𝐞𝐬𝐬 𝐕𝐚𝐥𝐮𝐚𝐭𝐢𝐨𝐧: We provide comprehensive, defensible valuations tailored for M&A, fundraising, and regulatory compliance (Companies Act, FEMA, Income Tax). ✅ 𝐎𝐩𝐭𝐢𝐦𝐢𝐳𝐞𝐝 𝐂𝐚𝐩𝐢𝐭𝐚𝐥 𝐁𝐥𝐮𝐞𝐩𝐫𝐢𝐧𝐭: Move beyond simple reporting with a custom financial architecture designed to lower your cost of capital and align with your cash flow. ✅ 𝐃𝐞𝐛𝐭 𝐒𝐲𝐧𝐝𝐢𝐜𝐚𝐭𝐢𝐨𝐧 & 𝐀𝐝𝐯𝐢𝐬𝐨𝐫𝐲: Access a wide network of banks, NBFCs, and AIFs to secure structured debt and hybrid growth capital instruments that fuel expansion. ✅ 𝐑𝐞𝐠𝐮𝐥𝐚𝐭𝐨𝐫𝐲 𝐑𝐢𝐠𝐨𝐫: Ensure absolute compliance with SEBI and FEMA norms a vital step for businesses eyeing an SME IPO or international investment. ➡️ 𝐆𝐮𝐢𝐝𝐚𝐧𝐜𝐞 𝐟𝐫𝐨𝐦 𝐀𝐒𝐁 𝐆𝐫𝐨𝐰𝐭𝐡 𝐕𝐞𝐧𝐭𝐮𝐫𝐞𝐬: At ASB Growth Ventures Private Limited, we don't just calculate your worth, we craft the strategy to help you grow it. With deep roots in Mumbai and a pan-India presence, our team of expert Chartered Accountants and financial advisors acts as your growth partner. We bridge the gap between complex regulatory requirements and your strategic vision, delivering everything from detailed valuation reports to debt term sheets. 𝐂𝐎𝐍𝐓𝐀𝐂𝐓 𝐔𝐒 ✉️ Email : [email protected] 📞 Call : +91 98672 13664 🌐 Website:

𝐍𝐚𝐯𝐢𝐠𝐚𝐭𝐢𝐧𝐠 𝐭𝐡𝐞 𝐍𝐞𝐰 𝐖𝐚𝐯𝐞: 𝐄𝐬𝐬𝐞𝐧𝐭𝐢𝐚𝐥 𝐒𝐌𝐄 𝐈𝐏𝐎 𝐑𝐞𝐠𝐮𝐥𝐚𝐭𝐨𝐫𝐲 𝐔𝐩𝐝𝐚𝐭𝐞𝐬 𝐟𝐨𝐫 2026 📈 The road to a public listing is evolving. For Small and Medium Enterprises (SMEs), an IPO is a powerful gateway to capital and credibility—but only for those who are prepared for the shifting regulatory landscape. 📖 𝐑𝐞𝐚𝐝 𝐦𝐨𝐫𝐞 : https://asbgrowthventures.com/what-regulatory-changes-should-smes-know-before-planning-an-ipo-in-2026/ ➡️ 𝐊𝐞𝐲 𝐇𝐢𝐠𝐡𝐥𝐢𝐠𝐡𝐭𝐬: 🔹 𝐄𝐥𝐞𝐯𝐚𝐭𝐞𝐝 𝐅𝐢𝐧𝐚𝐧𝐜𝐢𝐚𝐥 𝐃𝐢𝐬𝐜𝐢𝐩𝐥𝐢𝐧𝐞: Regulators now demand at least 3 years of transparent, audited financial statements with zero last-minute adjustments. 🔹 𝐆𝐨𝐯𝐞𝐫𝐧𝐚𝐧𝐜𝐞 𝐚𝐬 𝐚 𝐏𝐫𝐢𝐨𝐫𝐢𝐭𝐲: Corporate governance is no longer a "large-cap" luxury. SMEs must now prioritize independent director appointments and robust internal control frameworks. 🔹 𝐒𝐭𝐫𝐢𝐜𝐭 𝐅𝐮𝐧𝐝 𝐌𝐨𝐧𝐢𝐭𝐨𝐫𝐢𝐧𝐠: There is a heightened focus on the "Use of Proceeds," ensuring that IPO funds are used strictly for declared purposes with transparent tracking. 🔹 𝐏𝐫𝐨𝐦𝐨𝐭𝐞𝐫 𝐃𝐮𝐞 𝐃𝐢𝐥𝐢𝐠𝐞𝐧𝐜𝐞: Expect a deeper dive into promoter compliance history and shareholding transparency to ensure market integrity. 🔹 𝐈𝐧𝐯𝐞𝐬𝐭𝐨𝐫-𝐂𝐞𝐧𝐭𝐫𝐢𝐜 𝐃𝐢𝐬𝐜𝐥𝐨𝐬𝐮𝐫𝐞𝐬: IPO documents must shift toward simple, truthful, and high-clarity communication to build long-term investor trust. ➡️ 𝐆𝐮𝐢𝐝𝐚𝐧𝐜𝐞 𝐟𝐫𝐨𝐦 𝐀𝐒𝐁 𝐆𝐫𝐨𝐰𝐭𝐡 𝐕𝐞𝐧𝐭𝐮𝐫𝐞𝐬: At ASB Growth Ventures, we specialize in making SMEs IPO-ready, not just IPO-listed. We bridge the gap between where your business is today and where it needs to be to meet the rigorous standards of 2026. Our team provides comprehensive support—from initial readiness assessments and financial restructuring to governance advisory and capital structuring. 𝐂𝐎𝐍𝐓𝐀𝐂𝐓 𝐔𝐒 ✉️ Email : [email protected] 📞 Call : +91 98672 13664 🌐 Website:

SME IPOs (Small and Medium Enterprise Initial Public Offerings) are becoming increasingly popular in India, especially among retail investors looking for high-growth opportunities. But before you jump in, it’s important to understand how they work and what makes them different from mainboard IPOs.

First, SME IPOs are launched by smaller companies aiming to raise capital for expansion. These businesses often have strong growth potential, but they may also come with limited financial history and higher uncertainty.

Second, the investment amount is usually higher. Unlike regular IPOs, SME IPOs require larger lot sizes, which means you need more capital to participate.

Third, liquidity can be a challenge. SME stocks are less frequently traded, making it harder to buy or sell shares quickly without impacting the price.

Fourth, expect higher volatility. Prices of SME-listed stocks can move sharply due to lower trading volumes and market sentiment.

Fifth, research is crucial. Since information may be limited, investors should carefully read company financials, business models, and risk factors before applying.

Sixth, the application process is similar to regular IPOs. You can apply through your bank account using ASBA or via your trading app under the IPO section.

Finally, always invest with a strategy. SME IPOs can deliver strong returns, but they should only be a part of a diversified portfolio—not your entire investment.

𝐁𝐒𝐄 𝐏𝐮𝐬𝐡𝐞𝐬 𝐟𝐨𝐫 𝐒𝐭𝐫𝐢𝐜𝐭𝐞𝐫 𝐒𝐌𝐄 𝐈𝐏𝐎 𝐍𝐨𝐫𝐦𝐬: 𝐖𝐡𝐚𝐭 𝐈𝐭 𝐌𝐞𝐚𝐧𝐬 𝐟𝐨𝐫 𝐘𝐨𝐮𝐫 𝐁𝐮𝐬𝐢𝐧𝐞𝐬𝐬 📈 The landscape of SME IPOs in India is evolving. With the Bombay Stock Exchange (BSE) proposing tighter regulations, the focus is shifting toward higher transparency and robust corporate governance. For entrepreneurs and investors, staying ahead of these changes is no longer optional—it’s a strategic necessity. ➡️ 𝐊𝐞𝐲 𝐇𝐢𝐠𝐡𝐥𝐢𝐠𝐡𝐭𝐬 & 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬: 🔹 𝐄𝐧𝐡𝐚𝐧𝐜𝐞𝐝 𝐓𝐫𝐚𝐧𝐬𝐩𝐚𝐫𝐞𝐧𝐜𝐲: New proposals suggest mandatory disclosure of private arrangements with merchant bankers, ensuring investors have a clear view of IPO costs. 🔹 𝐒𝐭𝐫𝐢𝐜𝐭 𝐅𝐮𝐧𝐝 𝐌𝐨𝐧𝐢𝐭𝐨𝐫𝐢𝐧𝐠: The introduction of "utilisation certificates" and monitoring agencies aims to ensure that capital raised is used exactly as promised. 🔹 𝐆𝐨𝐯𝐞𝐫𝐧𝐚𝐧𝐜𝐞 𝐅𝐨𝐜𝐮𝐬: BSE is prioritizing the education of SME promoters to bridge the gap in corporate governance and compliance standards. 🔹 𝐐𝐮𝐚𝐥𝐢𝐭𝐲 𝐎𝐯𝐞𝐫 𝐐𝐮𝐚𝐧𝐭𝐢𝐭𝐲: These reforms are designed to ensure only well-prepared, serious businesses enter the public market, building long-term trust in the SME ecosystem. ➡️ 𝐇𝐨𝐰 𝐀𝐒𝐁 𝐆𝐫𝐨𝐰𝐭𝐡 𝐕𝐞𝐧𝐭𝐮𝐫𝐞𝐬 𝐂𝐚𝐧 𝐇𝐞𝐥𝐩: Navigating SEBI compliance and the complexities of an IPO can be daunting. At ASB Growth Ventures, we specialize in transforming growing businesses into investor-ready enterprises. Whether it is refining your governance structures, managing financial reporting, or developing a strategic fundraising roadmap, our team provides the expert guidance needed to ensure your IPO journey is smooth and successful. 𝐂𝐎𝐍𝐓𝐀𝐂𝐓 𝐔𝐒 ✉️ Email : [email protected] 📞 Call : +91 98672 13664 🌐 Website:

Yashhtej Industries (India) IPO Details 2026 Yashhtej Industries (India) IPO is a fixed price issue of ₹88.88 crores. The issue is entirely a fresh issue of 0.81 crore shares of ₹88.88 crore. Read more - https://equitylogy.in/yashhtej-industries-india-ipo-details/