Latest news with #NileshNatvarlalPatel
Time of India
5 days ago
- Business
- Time of India
Cryogenic OGS IPO listing: Retail bids soar 774x, total issue subscribed 646 times; GMP hints at 68% listing pop on July 10
Cryogenic OGS pulled off a blockbuster IPO debut, with the Rs 17.77 crore issue subscribed an eye-popping 646.47 times by the close of bidding on Monday, July 7. Retail investors drove the frenzy, bidding for a staggering 773.80 times their quota. Tired of too many ads? go ad free now High-net-worth individuals followed with 674.34 times subscription, while qualified institutional buyers (QIBs) took up 209.59 times their portion—marking one of the most aggressive SME IPO responses in recent memory, according to an ET report. Grey market premium points to sharp debut The grey market premium (GMP) for Cryogenic OGS shares surged to Rs 32, up from Rs 26 earlier, pegging the potential listing price at Rs 79 versus the issue price of Rs 47—a 68.1% upside. The stock is set to debut on the BSE SME platform on July 10, with allotments expected to be finalised by July 8. The company, which designs precision filtration and measurement systems for oil, gas, and chemical clients, opened its book-built IPO on July 3 in the Rs 44–47 price band. The minimum bid required retail investors to apply for 6,000 shares, amounting to Rs 2.64 lakh at the upper end. Of the 37.80 lakh shares on offer, 1.89 lakh shares were reserved for market maker Spread X Securities, with the remaining 35.91 lakh offered to the public. The allocation breakdown: 47.38% for QIBs, 14.29% for NIIs, and 33.33% for retail investors. Anchor round, promoters and financials Ahead of the IPO, Cryogenic OGS raised Rs 5.05 crore from anchor investors on July 2, allotting 10.74 lakh shares. Half of these will be locked in till August 7, 2025, and the rest till October 6. Founded by Nilesh Natvarlal Patel, Kiranben Nileshbhai Patel, and Dhairya Patel, the Vadodara-based firm runs an 8,300-square metre manufacturing facility in Gujarat. Tired of too many ads? go ad free now Its product lineup includes basket strainers, air eliminators, prover tanks, dosing skids, and truck loading systems. As of March 2024, the company reported zero outstanding borrowings and a permanent workforce of 23 employees. For FY25, Cryogenic OGS posted Rs 33.79 crore in revenue and a net profit of Rs 6.12 crore, marking 32% and 15% growth, respectively, over the previous year. Beeline Capital Advisors is the book-running lead manager, and MUFG Intime India (formerly Link Intime) is the registrar to the issue.
Economic Times
5 days ago
- Business
- Economic Times
Cryogenic OGS IPO subscribed 646 times on final day; GMP hints at 68% listing pop
Tired of too many ads? Remove Ads GMP hints strong listing Tired of too many ads? Remove Ads Anchors, advisors and financials The Rs 17.77 crore initial public offering of Cryogenic OGS drew robust investor interest, with an overall subscription of 646.47 times by 05:30 PM on Monday, July 7, the final day of bidding. Backed by strong demand from retail and non-institutional investors, the SME issue is now headed for a likely sharp debut, with the grey market premium suggesting a 55% listing investors led the charge, subscribing to 773.80 times their allotted quota. Non-institutional investors followed with 674.34 times subscription, while the qualified institutional buyers ' (QIB) portion was taken up 209.59 grey market premium for Cryogenic OGS surged to Rs 32 by the end of the day, up from Rs 26 earlier. With the IPO priced at Rs 47 per share, the implied listing price now stands at Rs 79, indicating a potential gain of 68.1%.Cryogenic OGS, which manufactures precision measurement and filtration systems for the oil, gas, and chemical sectors, had opened its book-built IPO on July 3. The offering comprised 37.80 lakh fresh equity shares in the Rs 44–47 price band. At the upper end, retail investors had to shell out Rs 2.64 lakh for the minimum application of 6,000 the total shares on offer, 1.89 lakh were reserved for market maker Spread X Securities. The net offer to the public was 35.91 lakh shares, with 47.38% allocated to QIBs, 14.29% to NIIs, and 33.33% to retail IPO allotment is expected to be finalized on Tuesday, July 8, with listing scheduled on the BSE SME platform for Thursday, July of the IPO, Cryogenic OGS raised Rs 5.05 crore from anchor investors on July 2 by allotting 10.74 lakh shares. The anchor lock-in for 50% of these shares will expire on August 7, 2025, while the remainder will unlock on October Vadodara-based firm, founded by promoters Nilesh Natvarlal Patel, Kiranben Nileshbhai Patel and Dhairya Patel, operates an 8,300 square meter facility in Gujarat. Its products include basket strainers, air eliminators, prover tanks, dosing skids, and truck loading of March 2024, Cryogenic OGS had 23 permanent employees and zero outstanding borrowings. In FY25, the company posted a revenue of Rs 33.79 crore and net profit of Rs 6.12 crore, reflecting year-on-year growth of 32% and 15%, Capital Advisors is the book-running lead manager, and MUFG Intime India (Link Intime) is the registrar to the issue.
Economic Times
6 days ago
- Business
- Economic Times
Cryogenic OGS IPO subscribed 169 times on final day; GMP hints at 55% listing pop
Tired of too many ads? Remove Ads GMP hints strong listing Tired of too many ads? Remove Ads Anchors, advisors and financials The Rs 17.77 crore initial public offering of Cryogenic OGS drew robust investor interest, with an overall subscription of 169.79 times by 10:30 AM on Monday, July 7, the final day of bidding. Backed by strong demand from retail and non-institutional investors, the SME issue is now headed for a likely sharp debut, with the grey market premium suggesting a 55% listing investors led the charge, subscribing to 239.90 times their allotted quota. Non-institutional investors followed with 146.78 times subscription, while the qualified institutional buyers ' (QIB) portion was taken up 12.91 of 8:30 AM on July 7, the latest grey market premium for Cryogenic OGS stood at Rs 26. With the issue priced at Rs 47 per share, the estimated listing price is Rs 73, implying a gain of 55.32%.Cryogenic OGS, which manufactures precision measurement and filtration systems for the oil, gas, and chemical sectors, had opened its book-built IPO on July 3. The offering comprised 37.80 lakh fresh equity shares in the Rs 44–47 price band. At the upper end, retail investors had to shell out Rs 2.64 lakh for the minimum application of 6,000 the total shares on offer, 1.89 lakh were reserved for market maker Spread X Securities. The net offer to the public was 35.91 lakh shares, with 47.38% allocated to QIBs, 14.29% to NIIs, and 33.33% to retail IPO allotment is expected to be finalized on Tuesday, July 8, with listing scheduled on the BSE SME platform for Thursday, July of the IPO, Cryogenic OGS raised Rs 5.05 crore from anchor investors on July 2 by allotting 10.74 lakh shares. The anchor lock-in for 50% of these shares will expire on August 7, 2025, while the remainder will unlock on October Vadodara-based firm, founded by promoters Nilesh Natvarlal Patel, Kiranben Nileshbhai Patel and Dhairya Patel, operates an 8,300 square meter facility in Gujarat. Its products include basket strainers, air eliminators, prover tanks, dosing skids, and truck loading of March 2024, Cryogenic OGS had 23 permanent employees and zero outstanding borrowings. In FY25, the company posted a revenue of Rs 33.79 crore and net profit of Rs 6.12 crore, reflecting year-on-year growth of 32% and 15%, Capital Advisors is the book-running lead manager, and MUFG Intime India (Link Intime) is the registrar to the issue.
Time of India
6 days ago
- Business
- Time of India
Cryogenic OGS IPO subscribed 169 times on final day; GMP hints at 55% listing pop
GMP hints strong listing Live Events Anchors, advisors and financials (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel The Rs 17.77 crore initial public offering of Cryogenic OGS drew robust investor interest, with an overall subscription of 169.79 times by 10:30 AM on Monday, July 7, the final day of bidding. Backed by strong demand from retail and non-institutional investors, the SME issue is now headed for a likely sharp debut, with the grey market premium suggesting a 55% listing investors led the charge, subscribing to 239.90 times their allotted quota. Non-institutional investors followed with 146.78 times subscription, while the qualified institutional buyers ' (QIB) portion was taken up 12.91 of 8:30 AM on July 7, the latest grey market premium for Cryogenic OGS stood at Rs 26. With the issue priced at Rs 47 per share, the estimated listing price is Rs 73, implying a gain of 55.32%.Cryogenic OGS, which manufactures precision measurement and filtration systems for the oil, gas, and chemical sectors, had opened its book-built IPO on July 3. The offering comprised 37.80 lakh fresh equity shares in the Rs 44–47 price band. At the upper end, retail investors had to shell out Rs 2.64 lakh for the minimum application of 6,000 the total shares on offer, 1.89 lakh were reserved for market maker Spread X Securities. The net offer to the public was 35.91 lakh shares, with 47.38% allocated to QIBs, 14.29% to NIIs, and 33.33% to retail IPO allotment is expected to be finalized on Tuesday, July 8, with listing scheduled on the BSE SME platform for Thursday, July of the IPO, Cryogenic OGS raised Rs 5.05 crore from anchor investors on July 2 by allotting 10.74 lakh shares. The anchor lock-in for 50% of these shares will expire on August 7, 2025, while the remainder will unlock on October Vadodara-based firm, founded by promoters Nilesh Natvarlal Patel, Kiranben Nileshbhai Patel and Dhairya Patel, operates an 8,300 square meter facility in Gujarat. Its products include basket strainers, air eliminators, prover tanks, dosing skids, and truck loading of March 2024, Cryogenic OGS had 23 permanent employees and zero outstanding borrowings. In FY25, the company posted a revenue of Rs 33.79 crore and net profit of Rs 6.12 crore, reflecting year-on-year growth of 32% and 15%, Capital Advisors is the book-running lead manager, and MUFG Intime India (Link Intime) is the registrar to the issue.
