Cryogenic OGS Makes Bumper Stock Market Debut; Lists at 90% premium on BSE SME; Hits Upper Circuit

Cryogenic OGS Limited made a stellar debut on the BSE SME platform today! The shares listed at 90% premium, i.e., ₹89.30 over its issue price of ₹47. Soon after listing, the stock has hit upper circuit of ₹93.76. 

This is one of the most successful SME listings of the year so far. 

Investors who were allotted the IPO saw their investment double on listing day. The minimum investment required for individual investors was two lots, i.e., ₹1,32,000 × 2 = ₹2,64,000. 

With the stock hitting ₹93.76, the value of that investment rose to approximately ₹5.28 lakh, generating almost 100% returns in just a few minutes of trade.

The IPO had received overwhelming demand from all the investor categories! Non Institutional Investors took the lead by subscribing 856.10 times, followed by Individual Investors 773.80 times and Qualified Institutional Buyers (QIBs) 209.59 times. 

Book-running lead manager for the issue was Beeline Capital Advisors Private Limited while Link Intime India Private Limited served as the registar. 

Cryogenic OGS delivers measurement and filtration systems to industries such as oil, gas, chemicals, and other fluid-related sectors. Their end-to-end offerings cover everything from concept design and process engineering to full-scale manufacturing, including fabrication, assembly, and product testing. 

On the financial front, the company’s revenue from operations grew from ₹2,202.16 lakhs in FY 2022–23 to ₹2,425.41 lakhs in FY 2023–24, reflecting a year-on-year increase of 10.14%. 

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