BSE SME Cryogenic OGS turns up the heat with stellar market entry

The scrip was listed at Rs 89.30, a premium of 90% compared with the initial public offer (IPO) price. The stock is currently frozen at its upper limit of 5% over its listing price.

The counter hit a high of Rs 93.76 and a low of Rs 89.30. About 10.80 lakh shares of the company changed hands at the counter.

Cryogenic OGS' IPO was subscribed 646.47 times. The issue opened for bidding on 3 July 2025 and it closed on 7 July 2025. The price band of the IPO was set at Rs 44 to Rs 47 per share.

The IPO comprised fresh issue of 37,80,000 equity shares. The promoter and promoter group shareholding diluted to 73.53% from 100% pre-issue.

The company intends to utilize the net proceeds to meet working capital requirements, public issue expenses and general corporate purposes.

Ahead of the Cryogenic OGS on 2 July 2025, raised Rs 5.04 crore from anchor investors. The board has allotted 10.74 lakh shares at Rs 47 per share to 4 anchor investors.

Cryogenic OGS provides high-quality measurement and filtration equipment and systems through fabrication and assembly for various sectors, including the oil, gas, chemical, and allied fluid industries. Focused on innovation and tailored services, the company offers customized solutions to meet the specific needs of its customers. The company's comprehensive solutions encompass design, process engineering and manufacturing ' including fabrication, assembly, and testing facilities. It uses AutoCAD ELD software, along with other supporting tools, to prepare detailed designs of its products. As of 31 March 2025, the company had 31 permanent employees.

The company recorded revenue from operations of Rs 32.90 crore and net profit of Rs 6.12 crore for the period ended 31 March 2025.