Cryogenic OGS IPO Day 3: Subscription Status, Latest GMP And Other Key Details
Shares of Cryogenic OGS Ltd. are tentatively scheduled to be listed on the BSE SME platform on July 10.
The initial public offering (IPO) of Cryogenic OGS IPO continued to see strong demand across investor categories on the third and last day of bidding on July 7.
The BSE SME IPO was subscribed 692.01 times till 4:34 p.m., as per market tracking site Chittorgarh. Cryogenic OGS IPO received bids for nearly 170 crore shares against 25.17 lakh shares on offer.
Qualified Institutional Buyers (QIBs) booked their quota 209.59 times, while the Non-Intuitional Investors (NIIs) subscribed their category 1154.98 times. The retail portion of the IPO was booked nearly 768.12 times.
Here's all you need to know about the SME IPO of Cryogenic OGS including the latest GMP, Live Subscription Status, Allotment and Listing date.
Cryogenic OGS IPO GMP Today
According to InvestorGain, the grey market premium (GMP) for the Cryogenic OGS IPO stood at Rs 32 as of 3:33 p.m. on July 7. The latest GMP indicates a listing price of Rs 79 apiece at a premium of 68.09% over the upper limit of the IPO price band.
The GMP was constant since the SME issue opened for subscription on July 3 but jumped as the SME issue drew tremondous response from investors on Monday.
Note: GMP does not represent official data and is based on speculation.
Cryogenic OGS IPO: Key Details
The Cryogenic OGS IPO is a book-building issue worth Rs 17.77 crore. The IPO comprises a fresh issuance of 37.8 lakh shares.
Retail investors can invest by bidding for two lots comprising 6,000 shares, requiring an investment of Rs 2,64,000. High Net-Worth Individuals (HNIs) must bid for at least three lots, amounting to an investment of Rs 4,23,000.
The price band for the IPO has been fixed between Rs 44 and Rs 47 per share.
The subscription window for the IPO is open from July 3 to July 7. The IPO share allotment status is proposed 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 tentatively scheduled 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.
Use Of Proceeds
The company has proposed to use proceeds from the IPO to meet working capital requirements and for general corporate purposes.
About Cryogenic OGS
The company is in the business of manufacturing fluid control equipment. This equipment is used in industries such as oil and gas, petrochemicals and liquor. The company was incorporated in 1997.
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.
