Cryogenic OGS IPO: Rs 18 Cr SME issue draw bids for Rs 8,200 cr; check allotment & GMP

Cryogenic OGS is likely to finalize the basis of allotment of its shares on Tuesday, July 08. Applicant bidders will get the messages, alerts or emails for debit of their funds or revocations of their IPO mandate latest by Wednesday, July 09. The specialized industrial products player saw a solid response from the investors during the three-day bidding process.

The IPO of Vadodara-based Cryogenic OGS was open for bidding between July 03 and July 07. The company sold its shares in the fixed price band of Rs 44-47 apiece with a lot size of 3,000 equity shares. The company raised a total of Rs 17,77 crore via IPO, which was entirely a fresh share sale of 37.80 lakh equity shares.

The issue was overall subscribed a whopping 694.90 times, attracting bids worth nearly Rs 8,220 crore. It managed to fetch more than 1.91 lakh applications. The quota for non-institutional investors (NIIs) was booked 1,155.38 times, while the portions for qualified institutional bidders (QIBs) and retail investors were subscribed 209.59 times and 773.70 times, respectively.

The grey market premium (GMP) of Cryogenic OGS has been holding firm despite the sell-off in the broader markets. Last heard, the company was commanding a premium of Rs 32-35 in the unofficial market, suggesting a listing gains of more than 70-75 per cent for the investors. The GMP stood at Rs 22-26, when the issue was open for bidding.

Incorporated in September 1997, Cryogenic OGS Limited manufactures and assembles high-quality measurement and filtration equipment for industries such as oil, gas, chemicals, and related fluid sectors. It focuses on innovative and tailored services for oil, gas, chemicals, and allied fluid industry and provides customized solutions to meet the specific needs of its customers.

Beeline Capital Advisors is the book-running lead manager of the Cryogenic OGS IPO, while MUFG Intime India (Link Intime) is the registrar for the issue. The market maker for Cryogenic OGS IPO is Spread X Securities. Shares of the company shall be listed on BSE SME platform on Thursday, January 09, 2025.

Investors, who had bid for the issue of Cryogenic OGS, can check the allotment status on the Bombay Stock Exchange (BSE) website:

1) Visit https://www.bseindia.com/investors/appli_check.aspx

2) Under the issue type, click Equity

3) Under the issue name, select Cryogenic OGS Limited in the dropbox

4) Write the application number

5) Add the PAN card ID

6) Click on 'I am not a Robot' and hit search button
 

Investors can also check the allotment status on the online portal of Link Intime India (https://linkintime.co.in/MIPO/Ipoallotment.html), the registrar to the issue.

The registrar is a Sebi-registered entity, qualified to act as such and which electronically processes all applications and carries out the allotment process, as per the prospectus. It is responsible for complying with the timelines for updating the electronic credit of shares to successful applicants, dispatching and uploading refunds, and attending to all investor-related queries post issue.

1) Go to the web portal of MUFG Intime India Limited

2) Select the IPO/FPO in dropbox whose name will be populated only if the allotment is finalized

3) You may be required to select either one of the three modes: Application number, Demat Account number, or PAN ID

4) In application type, select between ASBA and non-ASBA

5) Enter the details of the mode you selected in Step 2

6) For security purposes, fill the captcha accurately

7) Hit submit.