Cryogenic OGS IPO: GMP, Overview, And Price

Cryogenic OGS IPO- Complete Overview

Cryogenic OGS IPO under the SME IPO category is a book build issue of Rs. 17.77 Cr by Cryogenic OGS Limited. The company was founded in September 1997. The company specialises in manufacturing and assembling precision measurement and filtration equipment tailored for the oil, gas, chemicals, and other related fluid industries.

The company leverages innovation to deliver bespoke services to its clientele in the oil and gas, chemicals, and allied fluid sectors. The company works closely with customers to develop solutions that are tailored to their requirements, fulfilling right from problem definition.

The company handles the complete design process, from engineering to product realisation, which encapsulates fabrication, assembly, as well as testing facilities.

Product Portfolio:

Basket strainers: Used for protecting pumps, submersible motors, valves, and downstream equipment by removing abrasive debris particles from pipelines.

In its product line, Air Eliminators serve an important function, such as removing air or any other gas from the liquid systems so accurate metering of liquids can occur, subsequently followed by smooth operation of the system.

Prover tanks: They are employed for the calibration of volumetric flowmeters, allowing accurate scaled measurement in many industrial uses.

Additive Dosing Skid: This system enables seamless integration into main production lines, providing flexible continuous dosing of pre-determined volumes of various additives.

Truck Loading/Tank Wagon loading skid (Liquid & Gas Skid): This skid is used for measurement control, filtration treatment of both gases and liquids.

 

 

Cryogenic OGS IPO Overview

The Cryogenic OGS IPO date is on 03 July 2025, and its initial public offering will end on 07 July 2025. 

The Rs. 17.77 crore new SME IPO comprises an entirely fresh issue of 37.80 lac Shares. The Cryogenic OGS IPO price is Rs. 44 to Rs. 47 for each Share. 

The Cryogenic OGS IPO listing date (expected) might be on Thursday, Jul 10, 2025, and listing at the BSE and SME.

Click to open demat account and apply for the IPO.

Company Financial

(Amount in Cr)

Period	31 Mar 2025	31 Mar 2024	31 Mar 2023
Total Assets	33.85	28.35	24
Total Revenue	33.79	25.67	22.71
PAT	6.12	5.35	4.08
Net Worth	28.99	22.86	17.52
Reserves & Surplus	18.49	22.40	17.02

 

Cash Flows

(Amount in lac)

Net Cash Flow in Multiple Activities	31 Mar 2025	31 Mar 2024	31 Mar 2023
Net Cash Flow Operating Activities	193.55	152.57	183.52
Net Cash Flow Investing Activities	(136.20)	(132.96)	(8.14)
Net Cash Flow Financing Activities	(5.97)	(11.98)	(174.30)

 

Revenue Bifurcation

Category-wise Revenue Breakdown

(Amount in lac)

Revenue Breakdown of Government/PSUs and Private Sector Organizations

(Amount in lac)

 

Breakup of Revenue from New and Repeat Clientele

(Amount in lac)

 

Geography-wise Revenue Breakdown

(Amount in lac)

(Source: RHP)

The Objective of the Issue

The company desires to use the Net Proceeds from the Issue to fulfill its following goals:

• Public issue expenses.

• Working capital requirements.

• General corporate purposes.

 

Click to check the IPO application status.

Peers of Cryogenic OGS Ltd.

Company Name	Face Value (Rs.)	EPS (Rs.)	P/E (x)
Loyal Equipment Limited	10	8.42	26.21

 

Evaluation

The Cryogenic OGS Limited IPO price is Rs. 44 to Rs. 47 for each Share.

Evaluation of P/E Ratio

Considering the FY ended on 31 Mar 2025 with an EPS of Rs. 5.83 from the last year, the resulting P/E ratio is 8.06x.

Considering the weighted EPS of Rs. 5.26 for the last three years, the P/E ratio is 8.93x.

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Comparative Analysis With Listed Peers

The average P/E Ratio of the industry is 26.21x.

Particulars	P/E Ratio (x)
Highest	26.21
Lowest	26.21
Average	26.21

In simple words, the P/E ratio of this IPO is 8.06x, compared with the industry’s average P/E of 26.21x, indicating an undervaluation (on a P/E ratio basis only). Hence, the price of the Share seems fairly priced for the investors when considered based on the average P/E ratio of the industry.

IPO's Strengths

• Distinctive and remarkable technology of the product. 

• Skilled marketers, management personnel, and a trained workforce.

• Reliability in meeting quality benchmarks and standards for services. 

• Familiarity with business partners as suppliers. 

• Loyal customer base.

 

 

IPO’s Weaknesses

• The company is missing certain important incorporation and annual filing forms for the fiscal years 1997-98 to 2001-02. Records of these missing files do not exist at the ROC Gujarat office either. There may be future legal or regulatory ramifications; if these evidences are needed by some agency, then it might become problematic for the company’s financial condition and reputation.

• It has recorded negative cash flows in several preceding years.

• Defective warranties expose the business to risks associated with its products, including increased expenses for item replacement or repair, harm to the company's reputation, and a decline in customer loyalty.
  
  

Cryogenic OGS IPO GMP

Cryogenic OGS IPO GMP is Rs. 0 as of 30 Jun 2025 at the time of writing this information..

IPO Timetable (Tentative)

The Cryogenic IPO date of opening is from Jul 03 to Jul 07, 2025, allotment on Jul 08, refund initiation on Jul 09, and listing on Jul 10, 2025.

Events	Date
IPO Opening Date	Jul 03, 2025
IPO Closing Date	Jul 07, 2025
IPO Allotment Date	Jul 08, 2025
Refund Initiation	Jul 09, 2025
IPO Listing Date	Jul 10, 2025

 

Cryogenic OGS IPO Details 

The IPO with a Face Value of Rs. 10 per share offers a total issue size of 37,80,000 Shares (Rs. 17.77 Cr) with a market maker portion of 1,89,000 Shares (Rs. 0.89 Cr).

IPO Opening & Closing Date	03 Jul, 2025 to 07 Jul, 2025
Face Value	Rs. 10 per Share
Issue Price	Rs. 44 to Rs. 47 per Share.
Lot Size	3000 Shares
Issue Size	37,80,000 Shares (Rs. 17.77 Cr)
Offer for Sale	-
Fresh Issue	37,80,000 Shares (Rs. 17.77 Cr)
Listing at	BSE, SME
Issue Type	Book Built Issue
Registrar	MUFG Intime India Private Limited (Link Intime)

 

 

IPO Lot Details 

Retail investors can invest in a minimum and maximum of 1 Lot (3000 Shares) for Rs. 1,41,000 and in multiples thereof, while for HNI investors, the minimum Lot is 2 (6000 Shares) for Rs. 2,82,000.

Minimum Lot Investment (Retail)	1 Lot
Maximum Lot Investment (Retail)	1 Lot
HNI (Min)	2 Lots

 

IPO Reservation (% of Net Issue)

Institutional’s Portion	47.38%
Retail’s Portion	33.33%
Non-Institutional Portion	14.29%

 

Promoters And Management of Cryogenic OGS Ltd.

• Mr. Nilesh Natvarlal Patel

• Mrs. Kiranben Nileshbhai Patel

• Mr. Dhairya Patel.

Pre-Issue Promoter Shareholding	100%
Post-Issue Promoter Shareholding	-

 

IPO Lead Managers

• Beeline Capital Advisors Pvt Ltd.

 

 

Dividend Policy

The company has not declared dividends in the last three fiscal years.

 

Conclusion

The Cryogenic OGS IPO is of Rs. 17.77 Crore, and the company is in precision measurement and filtration devices for the oil, gas, and chemical industries. The P/E is less than its listed peers shows the price is fairly valued. Negative cash flows and defective warranties are some risks that the company is facing.

 

Finowings IPO Analysis

Hope you enjoyed the Finowings IPO Analysis. We tried our best to give every required detail about the company that you should know before applying to the IPO. 

You must consult your financial advisor before making any financial decisions. 

To Apply for the IPO, Click Here.

To Read the Prospectus of the Company Click Here to Download the DRHP.

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DISCLAIMER: This blog is NOT any buy or sell recommendation. No investment or trading advice is given. The content is purely for educational and information purposes only. Always consult your eligible financial advisor for investment-related decisions.