Cryogenic OGS IPO: Issue subscribed nearly 25x on first day. Check subscription status, GMP and other details
Cryogenic OGS IPO: The ₹17.77 crore initial public offering (IPO) of Cryogenic OGS opened for subscription on July 3 amid strong demand from all categories of investors and a solid grey market premium (GMP).
As a result, Cryogenic OGS IPO sailed through on the first day of the bidding process itself.
Cryogenic OGS IPO Subscription Status
The SME IPO was booked 24.69 times at the end of the first day, with the individual investor category booked 36.92 times, the non-institutional buyer category 24.30 times and the qualified institutional buyer category 3.51 times.
Cryogenic OGS IPO Details
Investors who wish to subscribe to the issue can do so till July 7. The price band for the offer is set at ₹44 to ₹47 per share. The IPO has no offer for sale component and is entirely a fresh share sale of 37.80 lakh shares. This means the entire proceeds will go to the company.
Cryogenic OGS plans to use the funds for meeting working capital requirements, general corporate purposes and public issue expenses.
The lot size for an application is 3000 shares. The minimum amount of investment required by an individual investor in the retail category is ₹2,64,000 (at least two lots).
Cyrogenics OGS IPO GMP
In the grey market, Cyrogenics OGS IPO GMP is at ₹22 per share. The latest GMP and IPO price of ₹47 suggest Cyrogenics OGS IPO shares could list at a premium of 47% over the issue price.
Cyrogenics OGS IPO allotment date is July, with a tentative listing date set at July 10.
Beeline Capital Advisors Pvt Ltd is the book-running lead manager of the Cryogenic OGS IPO, while MUFG Intime India Private Limited (Link Intime) is the registrar for the issue.
The company provides high-quality measurement and filtration equipment and systems for various sectors like oil, gas, chemicals and allied fluid industry. Its comprehensive solutions include design, process engineering and manufacturing, including fabrication, assembly and testing facilities.
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