Cryogenic OGS IPO Opens July 3: Price Band Set at ₹44–₹47 Per Share
By Shishta Dutta | Updated at: Jul 2, 2025 06:25 PM IST
Vadodara, July 2, 2025 — Cryogenic OGS Limited, a Vadodara-based manufacturer of filtration and measurement systems for the oil & gas sector, is set to launch its SME IPO on the BSE SME platform. The public issue will open for subscription on Thursday, July 3, 2025, and close on Monday, July 7, 2025.
IPO Details
| Parameter | Details |
|---|---|
| Issue Type | Book Built SME IPO |
| Issue Size | 37,80,000 equity shares |
| Price Band | ₹44 to ₹47 per share |
| Face Value | ₹10 per equity share |
| Lot Size | 3000 shares |
| Issue Opens | July 3, 2025 |
| Issue Closes | July 7, 2025 |
| Exchange | BSE SME |
| Lead Manager | Beeline Capital Advisors Pvt Ltd |
| Registrar | MUFG Intime India Pvt Ltd |
| Market Maker | Spread X Securities Pvt Ltd |
Use of Proceeds
As per the Red Herring Prospectus:
- ₹1,150 lakh to be deployed toward working capital needs
- Balance toward general corporate purposes
Company Overview
Cryogenic OGS Limited specialises in high-quality oil and gas filtration and metering systems, offering fabrication, testing, and assembly of turnkey solutions. It operates out of an 8,300 sq. meter facility in Vadodara, Gujarat, and caters to both domestic and international customers.
Financial Snapshot (Restated Standalone)
| (₹ in Lakhs) | FY25 | FY24 | FY23 |
|---|---|---|---|
| Revenue from Operations | ₹3,290.46 | ₹2,425.41 | ₹2,202.16 |
| Profit After Tax | ₹612.26 | ₹534.50 | ₹407.65 |
| Net Worth | ₹2,898.60 | ₹2,286.34 | ₹1,751.84 |
| Borrowings | Nil | Nil | Nil |
| EPS (Basic & Diluted) | ₹5.83 | ₹5.09 | ₹3.88 |
| NAV per Share | ₹27.61 | ₹21.77 | ₹16.68 |
Promoter Shareholding
| Promoter | Pre-Issue (%) | Post-Issue (%) |
|---|---|---|
| Nilesh Natvarlal Patel | 75.90% | 55.81% |
| Kiranben Nileshbhai Patel | 24.00% | 17.65% |
| Dhairya Patel | 0.02% | 0.01% |
| Total (Promoter Group) | 100.00% | 73.47% |
| Public Holding (Post IPO) | — | 26.47% |
Strategic Insights
- Debt-Free Company: Zero borrowings with strong cash reserves
- Sector-Focused: Supplies to oil, gas, petrochemicals, and chemical sectors
- Order Book Strength: Applied for ₹49.50 crore worth of tenders across India and abroad
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