The IPO price band is set between Rs 44 and Rs 47 per share. At the upper end, the minimum investment for retail investors amounts to Rs 1.41 lakh for a lot size of 3,000 shares.
Of the total 37.80 lakh shares, 1.89 lakh shares have been allocated to the market maker Spread X Securities. The net offer to the public is 35.91 lakh shares. The allocation includes 47.38% for qualified institutional buyers (QIBs), 14.29% for non-institutional investors (NIIs), and 33.33% for retail individual investors (RIIs).
Ahead of the opening, Cryogenic OGS raised Rs 5.05 crore from anchor investors on July 2 allocating 10.74 lakh shares. The anchor lock-in for 50% of these shares will end on August 7, 2025, while the remaining half will be released on October 6.
The company specializes in manufacturing precision measurement and filtration systems used in oil, gas, chemical, and fluid processing industries.
Its product lineup includes basket strainers, air eliminators, prover tanks, dosing skids, and tank/truck loading systems. These are manufactured at its 8,300 sq meter facility in Vadodara, Gujarat.As of March 2024, the company had 23 permanent employees and no outstanding borrowings. In FY25, Cryogenic OGS posted revenue of Rs 33.79 crore and a net profit of Rs 6.12 crore, marking a 32% and 15% year-on-year growth, respectively.Beeline Capital Advisors is the book-running lead manager, and MUFG Intime India (Link Intime) is the registrar to the issue.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
