Cryogenic OGS IPO subscribed 169 times on the final day; GMP 55% Listing gives signals on POP P

Cryogenic OGS Rs. An initial public offer of 17.77 crore, with an overall subscription of 169.79 times by 10:30 am on Monday, July 7, with an overall subscription, overall subscription. Supported by the strong demand for retail and non-institutional investors, SME issues are now leading to potential sharp debuts, with gray market premium 55% listing gain.

Retail investors led the charge by subscribing to their allotted quota 239.90 times. Non-institutional investors followed 146.78 times with a subscription, while part of eligible institutional buyers (QIB) was taken 12.91 times.

GMP indicates a strong list

By 8:30 am on July 7, the latest gray market premium for cryogenic OGS was Rs 26. Rs. With a price of 47, the estimated list price is Rs. 73, which means 55.32%.

Cryogenic OGS, which produces precision measurement and purification system for oil, gas and chemical areas, opened its book-built IPO on July 3. In this offer, Rs. 44-47 in price band. 37.80 lakh fresh equity shares are included. At the upper end, retail investors have to deduct Rs 2.64 lakh for the minimum application of 000,5 stocks.

Of the total stock on the offer, 1.89 lakh market makers were reserved for Spread X Securities. The public net offer was 35.91 lakh shares, of which 47.38% were allocated to QIB, 14.29% to NIIs and 33.33% to retail investors.

With a list listed on the BSE SME platform for Thursday, July 10, the IPO allocation is expected to finalize on Tuesday, July 8.

Anchors, consultants and financial

Next to the IPO, Cryogenic OGSA on July 2 allocated Rs 10.74 lakh shares from anchor investors to Rs. 5.05 crore collected. The anchor will end on August 7, 2025 for 50% of these shares, while the remaining 6 October will be Unl Lock.

Promoters Nilesh Natwarlal Patel, Kiranben Nileshbhai Patel and Dhairaiya Patel operates 8,300 square meters of facility in Pay Firm Gujarat -based Vadodara. Its products include basket strainers, air alaminators, probe tanks, dosing skids and truck loading systems.

As of March 2024, Cryogenic OG has 23 permanent employees and zero pending borrowing. In FY 25, the company has paid Rs. 33.79 crore income and net profit of Rs. Rs.1.5 crore, which shows a growth of 5% and 5%, respectively.

Beline Capital Advisors are the lead manager running the book, and MUFG Intime India (Link Intim) is the Registrar of this issue.

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