Listed
Cryogenic OGS Limited IPO
Cryogenic OGS Limited IPO opens on July 3 with a price band of ₹44–47 per share. The Vadodara-based firm aims to raise ₹17.77 crore to fund working capital and corporate needs. It supplies cryogenic and fluid-handling equipment to the oil & gas and petrochemical sectors.
Min Investment
₹1,41,000
Lot Size
3,000 Shares
Price Range
₹47.0
Issue Size (₹ Cr.)
₹17.77
IPO Type
BSE SME
Key Metrics
Face Value
₹ 10
GMP
₹ 26.0
Subscription
99.67x
EPS
₹ 4.29
P/E Ratio
10.96 x
RoNW
21.12%
ROE
23.62%
Debt to Equity (₹ Cr.)
0.00x
Timeline
IPO Opened03/07/2025Thursday
IPO Closed07/07/2025Monday
Allotted08/07/2025Tuesday
Refunded09/07/2025Wednesday
Listed10/07/2025Thursday
Strengths
- Debt-Free Balance Sheet - The company operates without long-term debt, ensuring minimal financial risk and strong balance sheet flexibility.
- Niche Engineering Expertise - Specializes in designing and manufacturing cryogenic, hydrocarbon, and fluid-handling equipment, serving critical sectors like oil & gas and petrochemicals.
- Established Industry Presence - With nearly a decade of experience, it has a growing client base that includes both domestic and international industrial companies.
- Customised Product Solutions - Offers engineered-to-order products such as basket strainers, loading arms, and metering skids, tailored to client specifications.
- In-House Manufacturing Capability - Operates its own production facility in Gujarat, allowing greater control over quality, delivery, and cost efficiency.
Weaknesses
- Limited Scale of Operations - As a small and medium enterprise (SME), it operates at a modest revenue base, which may restrict scalability compared to larger peers.
- Sector Concentration Risk - Heavy dependence on the oil & gas and petrochemical industries exposes it to cyclical fluctuations in energy markets.
- Working Capital Dependency - Operations are capital-intensive, requiring constant working capital for raw materials, fabrication, and project execution.
- Geographic Concentration - Manufacturing is primarily located in Gujarat, making it vulnerable to regional disruptions or supply chain constraints.
- Low Brand Recognition - As an engineering SME, its market presence and brand visibility remain limited outside its niche industrial client network.
Cryogenic OGS Limited IPO - GMP Trend
| GMP Date | Ipo Price | GMP | Estimate Listing Price | |
|---|---|---|---|---|
| 07/07/2025 | ₹ 47.0 | ₹ 26.0 | ₹ 70-75 | IPO Closed |
| 06/07/2025 | ₹ 47.0 | ₹ 26.0 | ₹ 70-75 | |
| 05/07/2025 | ₹ 47.0 | ₹ 26.0 | ₹ 70-75 | |
| 04/07/2025 | ₹ 47.0 | ₹ 26.0 | ₹ 70-75 | |
| 03/07/2025 | ₹ 47.0 | ₹ 24.0 | ₹ 68-75 | Live |
| 02/07/2025 | ₹ 47.0 | ₹ 22.0 | ₹ 65-70 | |
| 01/07/2025 | ₹ 47.0 | ₹ 22.0 | ₹ 65-70 | |
| 30/06/2025 | ₹ 47.0 | ₹ 20.0 | ₹ 65-70 |
Financials
| Period Ended | 31-03-2025 | 31-03-2024 | 31-03-2023 | |
|---|---|---|---|---|
| Assets (In Cr) | 33.85 | 28.35 | 24.00 | |
| Revenue (In Cr) | 33.79 | 25.67 | 22.71 | |
| Profit After Tax (In Cr) | 6.12 | 5.35 | 4.08 | |
| EBITDA (In Cr) | 7.96 | 6.39 | 5.65 | |
| Net Worth (In Cr) | 28.99 | 22.86 | 17.52 | |
| Total Borrowing (In Cr) | 0.00 | 0.00 | 0.00 |
Subscription Details
Cryogenic OGS Limited IPO Subscription Detalis
| Date | QIB | NII* | Individual Investors | Total | |
|---|---|---|---|---|---|
| 03-07-2025 | 3.51x | 24.30x | 36.92x | 24.69x | |
| 04-07-2025 | 12.91x | 124.2x | 138.43x | 99.67x |
Company Details
- 60, 61, 62, 63 POR Industrial Park Behind Sahyog Hotel, POR Vadodara, Gujarat, 391243
9898867136
- cs@cryogenicogs.com
- https://www.cryogenicogs.com/
