Cryogenic OGS SME: Check IPO Date, Live Subscription and Key Details
Cryogenic OGS Limited, incorporated in September 1997, is a precision engineering company specializing in the design, fabrication, and assembly of high-quality measurement and filtration equipment and systems. They cater to various sectors, including oil, gas, chemicals, and allied fluid industries. Their comprehensive solutions encompass design, process engineering, manufacturing (fabrication, assembly, and testing facilities), and post-sales support. Key products include Basket Strainers, Air Eliminators, Prover Tanks, Additive Dosing Skids, and Truck Loading/Tank Wagon Loading Skids (for both liquid and gas).
Price Range
₹44.00-47.00
Issue Size
₹16.88 Cr
Lot Size
3,000 shares
IPO Type
BSE SME
GMP
₹32(+68.09%)
Est. Listing Price
₹79
Estimate Profit
₹1,92,000
Retail Portion
-
Key Metrics
Check Live GMPGMPFace Value
₹10
EPS
4.29
P/E Ratio
10.96
RoNW
21.12%
ROE
23.62%
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Timeline
IPO Opens
3 Jul
IPO Closes
7 Jul
Allotment
8 Jul
Listing
10 Jul
IPO Timeline & Listing Details
| Event | Date | Details |
|---|---|---|
| IPO Open Date | 3 July 2025 | Subscription starts |
| IPO Close Date | 7 July 2025 | Subscription ends |
| Allotment Date | 8 July 2025 | Allotment |
| Listing Date | 10 July 2025 | Listing |
Investment Categories
| Category | Lots | Amount |
|---|---|---|
Individual | 2 | ₹2,82,000 |
SHNI (Min) | 3 | ₹4,23,000 |
SHNI (Max) | 7 | ₹9,87,000 |
BHNIAbove ₹10,00,000 | 8 | ₹11,28,000 |
IPO Objectives
- To Meet Working Capital Requirements.
- General Corporate Purposes.
- Public Issue Expenses.
Strengths
- Strong and Unique Product Technology: Specializes in custom-built, high-precision equipment (metering and filtration) for critical sectors like oil, gas, and chemicals, meeting global safety and industry standards (API, IS, ASME, ATEX).
- Experienced Promoters and Management Team: Led by Nilesh Natvarlal Patel (Chairman and MD) with over 22 years of experience in oil and gas metering equipment design and project management, supported by a well-trained workforce.
- Consistency in Quality and Service Standards: ISO 9001:2015, ISO 45001:2018, and ISO 14001:2015 certified, with rigorous in-house testing and third-party inspections, ensuring high product reliability and customer satisfaction (over 90% repeat business).
- Established Supplier Relationships: Strong and reliable partnerships with suppliers ensure a consistent supply of quality raw materials and effective inventory management, leading to timely delivery of products.
- Stable Customer Base: Long-standing customer relationships, particularly with prominent terminal automation companies in India and international clients, built on consistent product performance and exceptional after-sales service.
Weaknesses
- Business Depends Heavily on Niche Industrial Sectors: Primarily caters to the oil, gas, chemical, and allied fluid industries, making the company susceptible to cyclicality, demand fluctuations, and regulatory changes within these specific sectors.
- Relatively Small Employee Base: As of March 31, 2024, the company had only 23 permanent employees, which may pose challenges for rapid scalability and handling a large volume of projects simultaneously.
- High Capital Requirements Due to Shift in Business Model: The company is transitioning to a model where it must provide all components for its products (instead of customers supplying some components), significantly increasing working capital requirements for project execution.
- Dependency on Third-Party Manufacturers and Suppliers: Relies on third-party manufacturers and suppliers for certain machine parts and materials, which could lead to risks such as labor shortages, strikes, delays, or increased costs, impacting project timelines and quality.
- Risk from Inaccurate Demand Forecasting: The company does not have long-term supply contracts and depends on short-term purchase orders, making accurate demand forecasting critical to avoid inventory issues or missed opportunities.
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Financial Performance
| Period Ended | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|
| Assets (₹ Cr.) | 33.85 | 28.35 | 24 |
| Revenue (₹ Cr.) | 33.79 | 25.67 | 22.71 |
| PAT (₹ Cr.) | 6.12 | 5.35 | 4.08 |
| Net Worth (₹ Cr.) | 28.99 | 22.86 | 17.52 |
Peer Comparison
| Company | P/B Ratio | P/E Ratio | RONW (%) | Net Worth (₹ Cr.) |
|---|---|---|---|---|
| Cryogenic OGS Limited | 1.7 | 10.96 | 23.62% | 28.99 |
| Loyal Equipments Limited | 7.56 | 36.07 | 20.96% | 29.58 |
Subscription Details
Daily Bids Status
| Category | Day 1 | Day 2 | Day 3 |
|---|---|---|---|
| QIB | 3.51x | 12.91x | 209.59x |
| NII | 24.3x | 124.42x | 1,155.17x |
| RII | 36.92x | 138.43x | 770.26x |
| Total | 24.69x | 99.67x | 693.13x |
Overall Subscription Statistics
| Category | Shares Offered | Shares Bid | Bid Amount (₹ Cr) |
|---|---|---|---|
| QIB | 7,17,000 | 15,02,79,000 | 706.31 |
| NII | 5,40,000 | 62,37,90,000 | 2,931.81 |
| RII | 12,60,000 | 97,05,30,000 | 4,561.49 |
| Total | 25,17,000 | 1,74,45,99,000 | 8,199.62 |
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Company Details
- Cryogenic OGS Ltd.
- 60, 61, 62, 63 POR Industrial Park, Behind Sahyog Hotel, POR, Vadodara, Gujarat-391243, India
- 9898867136
- cs@cryogenicogs.com
- https://www.cryogenicogs.com/
Registrar Details
- MUFG Intime India Private Limited (Link Intime)
- +91-22-4918 6270
- cryogenic.smeipo@linkintime.co.in
- https://linkintime.co.in/Initial_Offer/public-issues.html
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