Cryogenic OGS IPO Sees Huge Demand on Day 1 – Subscribed Nearly 23 Times

Cryogenic OGS, a Gujarat-based maker of fluid control equipment, launched its IPO on July 3 and saw massive investor interest on the very first day. Key Highlights: • IPO Subscription (Day 1): 22.97 times • Total Bids: 6.21 crore shares for just 27.06 lakh shares on offer • Retail Investors: Led the charge, bidding 36.92x their quota • NII & QIB Response: Subscribed 10.23x and 3.51x, respectively • IPO Open Dates: July 3 to July 7 • Price Band: ₹44–₹47 per share • IPO Size: ₹17.77 crore through 37.8 lakh shares Use of Funds: • Majority: For working capital • Rest: General corporate purposes About Cryogenic OGS: • Founded: 1997 • Industry: Makes measurement and filtration tools for oil, gas, chemicals, and other fluid industries • Valuation Sought: ₹67 crore • Peer: Loyal Equipments (only listed comparable) Financial Snapshot: • FY25 Profit: ₹6.1 crore (vs ₹5.3 crore last year) • FY25 Revenue: ₹32.9 crore (vs ₹24.3 crore last year) Bottom Line: Cryogenic OGS’ IPO has made a strong start with high demand from all investor categories, especially retail. With solid financials and focused expansion plans, the company aims to strengthen its position in the fluid control equipment space.