Cryogenic OGS Ltd. launched its initial public offering (IPO) on July 3 to raise over Rs 17 crore from the primary market. The company manufactures equipment for clients in the oil and gas industry. The SME IPO was subscribed 24.6 times on Day 1.
Those interested in bidding for shares in the IPO should review the following details before making an investment decision.
Cryogenic OGS IPO: Key Details
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. High Net-Worth Individuals (HNIs) need to bid for at least three lots, amounting to an investment of Rs 4,23,000.
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.
Retail investors will be offered 33.33% of the net issue and 47.38% of shares are reserved for the Qualified Institutional Buyers (QIBs). The company has set aside 14.29% of the net issue for the Non-Institutional Investors (NIIs).
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 Subscription Status: Day 1
The Cryogenic OGS IPO was booked 24.69 times as per market tracking site Chittorgarh.
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Qualified Institutional Buyers: 3.51 times
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Non-Institutional Investors: 24.30 times
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Retail Investors: 36.92 times
*The subscription status will be updated at regular intervals
Cryogenic OGS IPO GMP Today
According to InvestorGain, the grey market premium (GMP) for the Cryogenic OGS IPO stood at Rs 22 per share on July 3. 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.
Use Of Proceeds
The company plans to use proceeds from the IPO to meet working capital requirements and for general corporate purposes.
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.
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.
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