Cryogenic OGS IPO Day 2: Check GMP, Subscription Status, Price Band And More

Cryogenic OGS Ltd. which launched its initial public offering (IPO) on July 3 to raise over Rs 17 crore from the primary market, has been booked over 60 times on Friday.

The Cryogenic OGS IPO is a book-building issue of Rs 17.77 crore. It comprises a fresh issuance of 37.8 lakh shares. The price band for the IPO is in the range of Rs 44 to Rs 47 per share.

To participate in the IPO subscription, retail investors need to bid for a single lot size of 3,000 shares. It will require an investment of Rs 1,32,000.

Of the 39,69,000 shares on offer, 7,17,000 (18.07%) are allocated to Qualified Institutional Investors, 5,40,000 (13.61%) to Non-Institutional Investors, 12,60,000 (31.75%) to Retail Investors and 10,74,000 (27.06%) to Anchor investors.

The subscription window for the IPO will remain open till July 7. The IPO share allotment status is expected to be finalised on July 8. Successful investors will receive shares in their Demat accounts on July 9 and refunds for non-allottees will also be processed on the same day.

Shares of Cryogenic OGS are proposed to be listed on the BSE SME platform on July 10.

Beeline Capital Advisors Pvt. is the book-running lead manager of the Cryogenic OGS IPO. MUFG Intime India Pvt. is the registrar and Spread X Securities Pvt. is the market maker for the issue. 

According to InvestorGain, the latest grey market premium (GMP) for the Cryogenic OGS IPO stood at Rs 22 per share on July 4. The latest GMP indicates a listing price of Rs 69 apiece at a premium of 46.81% per share against the upper limit of the IPO price band.

Note: GMP does not represent official data and is based on speculation.

The company is a manufacturer of fluid control equipment, which is used in oil and gas and other industries. The company was incorporated in 1997.

Financials

The company reported a 14.4% year-on-year (YoY) increase in profit after tax (PAT) to Rs 6.12 crore in FY25 from Rs 5.35 crore in FY24. Revenue from operations rose 35.67% to Rs 32.9 crore in FY25 from Rs 24.25 crore in FY24.

The company plans to use proceeds from the IPO to meet working capital requirements and for general corporate purposes.

Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read the red herring prospectus thoroughly before placing bids.