Blockbuster IPO Debut for Cryogenic OGS

Cryogenic OGS has made headlines with its Rs 17.77 crore IPO, which was subscribed an astounding 646.47 times by the close of bidding on Monday, July 7. Retail investors led the charge, bidding 773.80 times their allocated quota, showcasing unparalleled market enthusiasm.

Grey Market Premium Indicates Strong Listing

The grey market premium (GMP) for Cryogenic OGS shares has surged to Rs 32, suggesting a potential listing price of Rs 79, a 68.1% increase over the issue price of Rs 47. The stock is set to debut on the BSE SME platform on July 10.

Company and Financial Overview

Specializing in precision filtration and measurement systems for the oil, gas, and chemical sectors, Cryogenic OGS opened its IPO on July 3. The company reported Rs 33.79 crore in revenue and a net profit of Rs 6.12 crore for FY25, marking significant growth over the previous year.

Anchor Investments and Promoters

Ahead of the IPO, Cryogenic OGS raised Rs 5.05 crore from anchor investors, with shares locked in until 2025. Founded by the Patel family, the company operates from an 8,300-square metre facility in Gujarat, producing a range of industrial products.