Cryogenic OGS IPO Day 2: Check GMP, Subscription Status, Price Band And More
Shares of Cryogenic OGS are proposed to be listed on the BSE SME platform on July 10.
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 SME IPO has been subscribed 62.12 times as of 1:20 p.m. on July 4.
Qualified Institutional Buyers: 7.12 times
Non-Institutional Investors: 73.32 times
Retail Investors: 88.62 times
The company manufactures equipment for clients in the oil and gas industry. The SME IPO was subscribed 24.6 times on Day 1.
Here's all you need to know about the Cryogenic OGS IPO including the latest GMP, price band, offer size, allotment date and more.
Cryogenic OGS IPO: All You Need To Know
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.
Cryogenic OGS IPO GMP Today
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.
Cryogenic OGS Business And Financials
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.
Use Of Proceeds
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.
