Cryogenic OGS IPO Sees 92.78 Times Overall Subscription by Day 2
By Shishta Dutta | Published at: Jul 4, 2025 05:51 PM IST
Vadodara, July 4, 2025 — The SME IPO of Cryogenic OGS Limited witnessed an exceptional response from all investor segments by the end of Day 2, clocking an overall subscription of 92.78 times. Retail and non-institutional investors continued to drive the bulk of demand, while Qualified Institutional Buyers (QIBs) also increased their participation notably.
The IPO, open from July 3 to July 7, 2025, is priced in the range of ₹44 to ₹47 per equity share, with a face value of ₹10. The company aims to raise ₹177.66 crore at the upper end of the price band, and is proposed to be listed on the BSE SME platform.
Day 2 Demand Summary (as of July 4, 2025, 5:00 PM)
| Category | Shares Offered | Applications Received | Shares Bid For | Subscription (x) |
|---|---|---|---|---|
| Qualified Institutional Buyers (QIBs) | 7,17,000 | 7 | 92,58,000 | 12.91 |
| – Foreign Institutional Investors (FIIs) | – | 4 | 42,87,000 | – |
| – Others | – | 3 | 49,71,000 | – |
| Non-Institutional Investors (NII) | 7,29,000 | 3,736 | 6,73,74,000 | 59.19 |
| – Bids above ₹10 lakh | 3,60,000 | 1,333 | 4,31,46,000 | 119.85 |
| – Bids up to ₹10 lakh | 1,80,000 | 2,403 | 2,42,28,000 | 134.60 |
| Retail Individual Investors (2 Lots) | 12,60,000 | 29,071 | 17,44,26,000 | 138.43 |
| Total | 27,06,000 | 32,814 | 25,10,58,000 | 92.78 |
Source: BSE SME IPO Demand Schedule
Subscription Trends
- The Retail Individual Investors category leads with a massive 138.43 times subscription, receiving over 17.44 crore shares in bids for just 12.6 lakh shares on offer.
- The NII (HNI) segment also continues to show remarkable interest, oversubscribed by 59.19 times, with those bidding below ₹10 lakh showing 134.60 times demand.
- QIBs, which typically show interest toward the end of an issue, have already subscribed their portion by 12.91 times, with increased bids from both FIIs and domestic institutions.
Key IPO Details
The initial public offering (IPO) of Cryogenic OGS Limited opened for subscription on July 3, 2025, and will close on July 7, 2025. The company has set a price band of ₹44 to ₹47 per share, with a face value of ₹10.
The IPO consists of 37.80 lakh shares, of which 35.91 lakh shares are available to the public and 1.89 lakh shares are reserved for the market maker. The issue will be listed on the BSE SME platform. Beeline Capital Advisors Pvt Ltd is acting as the lead manager, while MUFG Intime India Pvt Ltd is the registrar to the issue.
| Particulars | Details |
|---|---|
| IPO Open Date | July 3, 2025 |
| IPO Close Date | July 7, 2025 |
| Price Band | ₹44 – ₹47 per share |
| Face Value | ₹10 per share |
| Total Issue Size | 37,80,000 shares |
| Net Issue to Public | 35,91,000 shares |
| Market Maker Reservation | 1,89,000 shares |
| Exchange | BSE SME |
| Lead Manager | Beeline Capital Advisors Pvt Ltd |
| Registrar | MUFG Intime India Pvt Ltd |
Allotment and Listing Timeline
| Event | Tentative Date |
|---|---|
| IPO Close Date | July 7, 2025 |
| Allotment Finalisation | July 9, 2025 |
| Shares Credited to Demat | July 10, 2025 |
| Listing Date | July 11, 2025 |
Where to Check Allotment Status
Once finalised, IPO allotment status can be checked using the following:
- MUFG Intime India (Registrar):
https://in.mpms.mufg.com/Initial_Offer/public-issues.html - BSE Allotment Portal:
https://www.bseindia.com/investors/appli_check.aspx
Cryogenic OGS IPO is poised for continued momentum, particularly among retail and HNI investors. Final subscription figures will be closely watched ahead of allotment.
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