Cryogenic OGS IPO Heats Up: Subscribed 99x on Day 2, GMP Soars 47%

Cryogenic OGS Ltd’s SME IPO is witnessing red-hot demand, with Day 2 subscription soaring to 99.67x across investor categories. The Vadodara-based manufacturer of filtration and measurement systems for oil, gas, and chemical industries is riding high on strong retail and HNI interest. The grey market premium (GMP) has surged to ₹22, implying a 47% listing gain over the upper price band of ₹47.

 

Key Highlights:

 

IPO size: ₹17.77 crore (entirely fresh issue of 37.8 lakh shares).

 

Price band: ₹44–₹47; Lot size: 3,000 shares (₹1.32 lakh minimum investment).

 

Day 2 subscription: 99.67x overall; Retail 138.43x, NII 124.42x, QIB 12.91x.

 

GMP at ₹22, indicating a listing price of ₹69 per share.

 

Proceeds to be used for working capital and general corporate purposes.

 

Allotment on July 8; listing on BSE SME platform on July 10.

 

Outlook: With robust financials (FY25 PAT up 14.4%, revenue up 35.7%) and niche industrial exposure, Cryogenic OGS is drawing strong speculative and long-term interest. Analysts expect a bumper listing, but advise caution due to SME volatility and limited liquidity.

 

Source: News18