The initial public offer (IPO) of Cryogenic OGS received bids for 6,21,57,000 shares as against 27,06,000 shares on offer, as per BSE data as of 17:00 hours on Thursday (03 July 2025). The issue was subscribed 22.97 times.
The issue opened for bidding on Thursday (03 July 2025) and it will close on Monday (07 July 2025). The price band of the IPO is fixed between Rs 44 to Rs 47 per share. The minimum order quantity is 3,000 equity shares. The equity shares will list on BSE’s SME platform.
The IPO comprises fresh issue of 37,80,000 equity shares. The promoter and promoter group shareholding will dilute to 73.53% from 100% pre-issue.
About 1,89,000 equity shares will be reserved for subscription by market maker to the issue. The net issue comprises of 35,91,000 equity shares. The issue and the net issue will constitute 25.15% and 26.47%, respectively of the post Issue paid up equity share capital of the company.
The company intends to utilize the net proceeds to meet working capital requirements, public issue expenses and general corporate purposes.
Ahead of the Cryogenic OGS on Wednesday, 02 July 2025, raised Rs 5.04 crore from anchor investors. The board has allotted 10.74 lakh shares at Rs 47 per share to 4 anchor investors.
Cryogenic OGS provides high-quality measurement and filtration equipment and systems through fabrication and assembly for various sectors, including the oil, gas, chemical, and allied fluid industries. Focused on innovation and tailored services, the company offers customized solutions to meet the specific needs of its customers. The company’s comprehensive solutions encompass design, process engineering and manufacturing — including fabrication, assembly, and testing facilities. It uses AutoCAD ELD software, along with other supporting tools, to prepare detailed designs of its products. As of 31 March 2025, the company had 31 permanent employees.
The company recorded revenue from operations of Rs 32.90 crore and net profit of Rs 6.12 crore for the period ended 31 March 2025.