Cryogenic OGS Limited, where engineering excellence meets innovation. They specialize in manufacturing high-quality equipment tailored for diverse industries including oil and gas, petrochemicals, chemicals, and liquor. With a solid reputation, they proudly serve a wide array of clients, including prominent terminal automation companies in India and enterprises listed among the top 500 companies in the Indian economy.

Cryogenic OGS, an Book Built Issue amounting to ₹ 17.76 Crores, consisting entirely an Fresh Issue of 37.80 Lakh Shares. The subscription period for the Cryogenic OGS IPO opens on July 03, 2025, and closes on July 07, 2025. The allotment is expected to be finalized on or about Tuesday, July 08, 2025, and the shares will be listed on the BSE SME with a tentative listing date set on or about Thursday, July 10, 2025.

The Share Price Band of Cryogenic OGS IPO is set at ₹ 44 to ₹ 47 per equity share. The Market Capitalisation of the Cryogenic OGS Limited at IPO price of ₹ 47 per equity share will be ₹ 67.11 Crores. The lot size of the IPO is 3,000 shares. Retail investors are required to invest a minimum of ₹ 2,82,000 (6,000 shares), while the minimum investment for High-Net-Worth Individuals (HNIs) is 3 lots (9,000 shares), amounting to ₹ 4,23,000.

Beeline Capital Advisors Private Limited is the book running lead manager of the Cryogenic OGS IPO, while MUFG Intime India Private Limited (formerly Link Intime India Private Limited) is the registrar for the issue. Spread X Securities Private Limited is the Market Maker for Cryogenic OGS IPO.

Cryogenic OGS Limited IPO GMP Today
The Grey Market Premium of Cryogenic OGS Limited IPO is expected to be ₹ 17 based on the financial performance of the company. No real trading is done on the basis of Grey Market Premium that's why no real discovery of price can be done before the listing of shares on the stock exchange. The Grey Market Premium totally depends upon the Demand and Supply of the shares of the company in unorganized manner which is not recommended. The Grey Market Premium is mentioned for educational and informational purposes only.

Cryogenic OGS Limited IPO Live Subscription Status Today: Real-Time Update
As of 07:00 PM on 07 July, 2025, the Cryogenic OGS Limited IPO live subscription status shows that the IPO subscribed 646.47 times on Final Day of subscription period. Check the Cryogenic OGS IPO Live Subscription Status Today at BSE.

Cryogenic OGS IPO Anchor Investors Report
Cryogenic OGS has raised ₹ 5.04 Crores from Anchor Investors at a price of ₹ 47 per shares in consultation of the Book Running Lead Managers. The company allocated 10,74,000 equity shares to the Anchor Investors. Check Full List of Cryogenic OGS Anchor Investor List.

Note:- Equity Shares allotted to Anchor Investors (if any) are allotted from Qualified Institutional Buyers (QIBs) reservation portion.
Note:- The Number of shares offered shown IPO subscription section table is calculated at the lower end of the price band and Number of shares calculated in IPO details table section is calculated at upper end of the price band in case of Book Building Issue, so there can be difference. This is because we assume shares will be issued by the company at upper band as Anchor Investors also subscribe at upper band and shares will be issued at lower band only if in case of undersubscription of IPO.
Note:- Market Maker portion (if any) are not shown separately in subscription table and included in NIIs reservation portion.

Cryogenic OGS Limited Day Wise IPO GMP Trend

Date	IPO Price	Expected Listing Price	GMP	Last Updated
30 June 2025	₹ 47	₹ 64	₹ 17 (36.17%)	05:00 PM; 30 June 2025

Cryogenic OGS Limited IPO Allotment Date - Step by Step Guide to Check Allotment Status Online
Cryogenic OGS IPO allotment date is 08 July, 2025, Tuesday. Cryogenic OGS IPO Allotment will be out on 8th July, 2025 and will be live on Registrar Website from the allotment date. Check Cryogenic OGS IPO Allotment Status here. Here's how you can check the allotment status:
- Navigate to the IPO allotment status page.
- Select Cryogenic OGS Limited IPO from the dropdown list of IPOs
- Enter your application number, PAN, or DP Client ID
- Submit the details to check your allotment status.
By following either of these methods, investors can quickly determine their allotment status and proceed accordingly with their investments.

Objectives of Cryogenic OGS Limited IPO
Cryogenic OGS to utilise the Net Proceeds towards the following objects: 
1. ₹ 1,150.00 Lakhs is required to Meet Working Capital Requirements
2. General Corporate Purposes

Refer to Cryogenic OGS Limited RHP for more details about the Company.

Check latest IPO Review & analysis, Live IPO GMP today, Live IPO Subscription Status Today, Share Price, Financial Information and other details before applying in the IPO.

The Upcoming IPOs in this week and coming weeks are Chemkart India, Meta Infotech, Happy Square Outsourcing Services, Travel Food Services, Cryogenic, Crizac, .

The Current active IPO are Silky Overseas, Vandan Foods, Pushpa Jewellers, Cedaar Textile, Marc Loire Fashions, Neetu Yoshi, Adcounty Media India, Moving Media Entertainment, Valencia India, PRO FX Tech, Ace Alpha Tech, Indogulf Cropsciences.

The Closed IPOs are Suntech Infra Solutions, Rama Telecom, Supertech EV, Sambhav Steel Tubes, HDB Financials, Abram Food, Shri Hare-Krishna Sponge Iron, Icon Facilitators, Globe Civil Projects, AJC Jewel, Ellenbarrie Indutrial Gases, Kalpataru.

The Recently Listed IPOs which is available for trading in stock Market are Safe Enterprises Retail Fixtures, Influx Healthtech, Eppeltone Engineers, Monolithisch India, Sacheerome Limited, Prostarm Info Systems, Aegis Vopak Terminals, Schloss Bangalore, Belrise Industries, Borana Weaves, Srigee DLM, Tankup Engineers, Super Iron Foundry and many more.

Read more

About Cryogenic OGS Limited

BUSINESS OVERVIEW

Cryogenic OGS specializes in delivering high-quality measurement and filtration equipment and systems through fabrication and assembly, catering to the oil, gas, chemical, and allied fluid industries. The company offers customized, innovative solutions tailored to specific client requirements, with a focus on maximizing efficiency and minimizing costs.

The company’s in-house engineering and design capabilities enable a diversified product portfolio, supported by comprehensive services such as design, process engineering, fabrication, assembly, and testing. Designs are prepared using Auto-CAD ELD and other supporting software.

Operating from an 8,300 sq. meter facility in Vadodara, Gujarat, the production unit is equipped with advanced machinery and a dedicated quality control department, offering chemical, mechanical, non-destructive, hydro, and pneumatic leak testing. The premises also include a centralized administration block to streamline operations.

Fabricator capability certification from DNV has been secured for key products, with assessments validating annual fabrication capacity based on the company’s infrastructure and manpower.

The company adheres to multiple international standards, including API, IS 2825, ASME, and ATEX, ensuring compliance, safety, and precision in high-risk sectors such as oil & gas and chemicals.

Business is primarily acquired through competitive tender bidding and direct inquiries, with 93 domestic tenders worth ₹49.50 crore and 5 international bids worth ₹1.07 crore currently under commercial evaluation. These include innovative offerings such as large trolley proving skids, truck loading skids, and gas blending/metering skids.

To expand global presence, Cryogenic OGS has entered a sales and marketing partnership with KMC Oil and Gas Equipment LLC, Abu Dhabi, targeting clients in GCC countries. As on March 31, 2025, our company has 31 permanent employees. The Banker to the Company is ICICI Bank Limited.

INDUSTRY ANALYSIS

Oil and Gas Sector in India

Strategic Importance in the Indian Economy

The oil and gas sector stands as a cornerstone of India's economic infrastructure, recognized among the eight core industries vital to national development. Its influence permeates across sectors—fueling transportation, industrial activity, and domestic energy needs—thereby playing a pivotal role in sustaining India's growth momentum. As of 2023, India is the third-largest consumer of oil globally, a testament to the sector’s criticality.

With the country’s economic growth directly tied to rising energy demand, the Indian government has undertaken progressive reforms to boost both domestic capacity and foreign investment. 100% FDI is now permitted in crucial areas like natural gas and petroleum product marketing, while FDI in public sector refining projects has been raised to 49%. These measures have catalyzed investments from major players like Reliance Industries Limited (RIL) and Cairn India, contributing to a projected US$ 25 billion investment in exploration and production.

Downstream Sector and Industrial Integration

The downstream segment—encompassing refining, processing, and distribution of oil and gas products—plays a crucial role in transforming raw hydrocarbons into valuable, consumer-ready products like gasoline, LPG, lubricants, and synthetic materials. Indian companies in this segment rely on precision metering and filtration equipment to maintain efficiency and safety in operations.

With 23 refineries in operation and expansion underway, India is evolving into a refining hub in the Asia-Pacific region. IOCL, BPCL, and HPCL dominate downstream activities, supported by a growing network of pipelines and retail outlets.

Growth Outlook and Market Demand

India's energy demand is poised for sustained growth:

• Crude oil consumption is projected to rise at a CAGR of 4.59%, reaching 500 million tonnes by FY40 (from 223 million tonnes in FY23).

• Oil consumption is expected to climb from 4.05 million barrels per day (MBPD) in FY22 to 9.2 MBPD by 2050.

• Diesel demand is forecasted to double by FY30, hitting 163 million tonnes, with diesel and petrol comprising 58% of total demand by 2045.

This robust growth trajectory signifies increasing opportunities for both public and private sector participation across the value chain.

Key Developments and Government Initiatives (2023–24)

1. Crude & Refined Pipelines:

   • 10,941 kms of crude pipeline network with 153.1 MMTPA capacity as of March 1, 2024.

   • 12,581 kms of refined products pipeline led by IOCL with 53.86% share.

2. Production & Refining:

   • Crude oil production stood at 22.71 MMT (April 2023–Jan 2024).

   • Refining capacity reached 235.9 MMT, with IOCL contributing 66.7 MMT.

3. Retail and Distribution Network:

   • OMC retail outlets increased from 59,595 in FY17 to 89,396 by March 2024.

   • IOCL operates the most outlets (37,224), followed by HPCL (21,762) and BPCL (21,676).

   • 25,460 LPG distributors (under PSUs) in India as of March 2024.

4. Natural Gas Infrastructure:

   • GAIL leads with 62.14% of the gas pipeline network (17,099 kms out of 27,516 kms).

   • Unified Tariff System introduced by PNGRB with three tariff zones and a flat rate of Rs. 73.93/MMBTU, streamlining gas distribution.

5. Investments & Innovations:

   • Jio-bp introduced diesel with cleaning agents at Rs. 1 less/litre than PSUs.

   • Tata Mining & GAIL partnered for natural gas supply to reduce emissions.

   • Oil India Ltd. initiated drilling in Mahanadi Onshore Basin under the OALP scheme.

Future Outlook

India’s oil and gas sector is transitioning rapidly in response to domestic demand, global energy trends, and sustainability goals. The growing emphasis on infrastructure development, refining capacity, and clean energy transitions (like natural gas and CBM) sets the stage for India to become a self-reliant energy powerhouse. With strong government backing, increasing private participation, and rising demand, the sector is poised to remain a major contributor to India's GDP and industrial resilience for decades ahead

BUSINESS STRENGTHS

1. Strong & Unique Product Technology
Cryogenic OGS delivers innovative, value-driven solutions by leveraging proprietary technologies and original design concepts. Products are built from high-quality materials, ensuring durability and consistent performance.

2. Experienced Leadership & Skilled Workforce
Led by Promoter and Managing Director Mr. Nilesh Natwarlal Patel, with over 22 years of industry experience, the company benefits from a seasoned management team and a well-trained employee base, positioning it to capitalize on market opportunities effectively.

3. Certified Quality and Service Standards
The company is certified under ISO 9001 (Quality Management), ISO 14001 (Environmental Management), and ISO 45001 (Occupational Health & Safety), reflecting a commitment to excellence, sustainability, and workplace safety.

4. Strong Supplier Relationships
Established supplier partnerships enable timely procurement of quality materials, supporting efficient inventory management and consistent product delivery.

5. Stable and Reputed Customer Base
Long-standing associations with leading oil and gas companies underline the company’s reliability. Continuous adoption of advanced technologies and process improvements enhances customer satisfaction and loyalty.

BUSINESS STRATEGIES

1. Building Strategic Partnerships
Collaborating with key industry players to strengthen market presence and drive mutual growth.

2. Adopting Emerging Technologies
Leveraging advanced technologies to deliver innovative, future-ready solutions tailored to evolving client needs.

3. Customer-Centric Focus
Prioritizing customer satisfaction and relationship-building to ensure long-term engagement and repeat business.

4. Global Market Expansion
Targeting international markets through strategic alliances, backed by a strong domestic reputation for quality and innovation.

BUSINESS RISK FACTORS & CONCERNS

1. Product Concentration Risk
A significant portion of revenue is dependent on Air Eliminators and Oil & Gas Metering Skids, contributing 29.65% and 27.31% respectively to revenue from operations in FY25. Dependence on a limited product portfolio and on a few top customers makes the company vulnerable to fluctuations in demand, potential technological substitution, and challenges in product upgradation. Inability to innovate or expand into high-growth categories could adversely affect long-term growth and profitability.

2. Geographic Concentration Risk
Operations are highly concentrated in Gujarat and Maharashtra, accounting for 46.72% and 34.95% of revenue respectively in FY25. Adverse regional developments, such as economic downturns, increased competition, or regulatory challenges, may have a disproportionate impact on business continuity and financial results. Expansion into other regions remains a challenge.

3. Raw Material Supply and Pricing Risk
The business relies heavily on critical raw materials like ball valves, pumps, motors, mass flow meters, gaskets, cables, and pipes, with material cost constituting 64.60% of revenue in FY25 (₹2,125.59 lakhs). Price volatility or supply disruptions—due to macroeconomic factors, logistics, or geopolitical issues—can affect cost structure and product pricing. Continued dependence on vendor relationships and fluctuating input costs introduces operational and financial uncertainty.

Cryogenic OGS faces key risks related to product concentration, geographic revenue dependency, and raw material volatility. These factors may materially impact the company’s operations, financial performance, and future growth.