Cryogenic OGS IPO Day 1: Check GMP Today, Date, Price Band, Lot Size, And Important Details

Cryogenic OGS Ltd, a niche player in the industrial engineering space, launched its initial public offering (IPO) today and witnessed strong investor interest right from the beginning The SME IPO, which aims to raise Rs 17.77 crore through a fresh issue of 37.8 lakh equity shares, is open for subscription until July 7.

Cryogenic OGS IPO: Price band

Priced in a band of Rs 44 to Rs 47 per share, the offering requires a minimum bid of 3,000 shares per application. For retail investors, that translates to a minimum investment of Rs 1.32 lakh, while high net-worth individuals (HNIs) must commit at least three lots—equivalent to Rs 4.23 lakh.

Ahead of the IPO, Cryogenic OGS raised Rs 5.05 crore from anchor investors. The public issue is being managed by Beeline Capital Advisors, with Link Intime India serving as the registrar. Axis Bank is acting as the sponsor bank and Spread X Securities will serve as the designated market maker.

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Cryogenic OGS IPO: Subscription status

The IPO is structured with around 47% reserved for qualified institutional buyers, 14% for non-institutional investors, and roughly 33% for retail participants. The IPO has seen a good start, with retail investors and non-institutional bidders leading the charge. By mid-day on Thursday, the issue was subscribed more than 11 times overall, as per a market tracking website.

The retail portion reportedly oversubscribed nearly 17 to 23 times, while demand from non-institutional investors hovered around the 8 to 15 times mark. No bids had been received from qualified institutional buyers (QIBs) in the early hours, as per market tracking website.

Cryogenic OGS IPO: Grey Market Premium

As of July 3, 2025, 2:57 PM, the Grey Market Premium (GMP) for Cryogenic OGS SME IPO stood at Rs 22, suggesting an estimated listing price of ₹69—based on the upper end of the price band at Rs 47—translating to an expected gain of approximately 46.81% per share.

Cryogenic OGS IPO: Usage of proceeds

The company plans to use the IPO proceeds mainly for working capital requirements and general corporate purposes.

Key dates to look out for

Shares of the company are expected to be listed on the BSE SME platform on July 10. Allotment is scheduled for July 8, followed by refunds and credit of shares to demat accounts on July 9.

Cryogenic OGS IPO: Financial performance

In the financial year ended March 2025, the company reported a revenue of Rs 32.9 crore and a net profit of Rs 6.1 crore, marking a year-on-year growth of over 35% in top line and about 15% in bottom line.

About the company

Based in Vadodara, Cryogenic OGS was founded in 1997 and specialises in manufacturing a wide range of cryogenic and fluid-handling equipment such as basket strainers, air eliminators, prover tanks, loading arms, and metering skids. These products serve critical needs in the oil and gas, petrochemical, and allied industries.