Cryogenic OGS IPO sees strong demand on day 1; booked 11x, GMP at 42%

Cryogenic OGS IPO subscription status Day 1: The issue received bids for 3,09,60,000 shares compared to 27,06,000 shares on offer via 4033 bids.

Cryogenic OGS IPO subscription status Day 1: The initial public offering (IPO) of measurement and filtration equipment maker Cryogenic OGS opened for subscription today, July 3, 2025. The SME public issue is receiving a robust response from investors, as the issue was fully subscribed within a few hours after opening. The issue was subscribed over 11 times as of 1:45 PM on Thursday, day 1 of the offering, according to data from the BSE SME platform. The issue received bids for 3,09,60,000 shares compared to 27,06,000 shares on offer via 4033 bids. 

 

The company aims to raise ₹17.77 crore through a fresh issue of 3.78 million equity shares. There is no offer for sale (OFS) component.   

 

Cryogenic IPO GMP

On Thursday, the unlisted shares of Cryogenic OGS were trading at ₹67, commanding a grey market premium of ₹20 or 42.5 per cent compared to the upper band price of ₹47, according to sources tracking unofficial markets. 

Cryogenic OGS IPO details

The three-day subscription window for the initial public offering will close on Monday, July 7, 2025. The basis of allotment of shares is likely to be finalised on Tuesday, July 8, 2025. Shares of Cryogenic OGS will be listed on the BSE SME platform tentatively on Thursday, July 10, 2025. 

 

Cryogenic has fixed the price band in the range of ₹44 to ₹47 per share. Retail investors would require a minimum investment amount of ₹2,82,000 shares to buy at least two lots comprising 6,000 shares. High net-worth individuals would need ₹4,23,000 to bid for three lots.

 

MUFG Intime India, Link Intime is the registrar for the issue. Beeline Capital Advisors is the sole book-running lead manager. 

 

According to the red herring prospectus (RHP), the company plans to utilise the net fresh issue proceeds to meet working capital requirements and general corporate purposes. 

About Cryogenic OGS

Incorporated in 1997, Cryogenic OGS is engaged in the manufacturing and assembling of high-quality measurement and filtration equipment for industries such as oil, gas, chemicals, and related fluid sectors. The company is involved in designing, process engineering, and manufacturing solutions, including fabrication, assembly, and testing facilities. Its product portfolio includes Basket Strainers, Air Eliminators, Prover Tanks, Additive Dosing Skid and Tank Wagon Loading Skid.