Cryogenic OGS IPO

About Cryogenic OGS IPO

The IPO of Cryogenic OGS Ltd comprises a fresh issue of up to 37,80,000 equity shares. A 100% book-built issue, it has no offer for sale. The price band of the IPO is ₹44-₹47.

Objectives of Cryogenic OGS IPO

• To meet working capital requirements
• General corporate purposes

Industry Outlook

The oil and gas sector in India holds a pivotal position as one of the eight core industries, exerting a significant influence on the country's economic landscape. With India's economic growth intricately tied to its energy demand, the sector's importance is set to surge, fostering a conducive environment for investment.

As of 2023, India remains the third-largest consumer of oil globally, underscoring the sector's significance. To meet the escalating demand, the government has implemented various policies, including permitting 100% foreign direct investment (FDI) in key segments such as natural gas and petroleum products.

With burgeoning outputs and escalating demands for production and transportation, the consumption of crude oil is forecasted to surge, registering a remarkable CAGR of 4.59% to reach 500 million tonnes by FY40, soaring from 223 million tonnes in FY23.

This trajectory is mirrored in projections for oil consumption, which are set to elevate from 4.05 MBPD in FY22 to 7.2 MBPD by 2030 and a staggering 9.2 MBPD by 2050, underscoring India's burgeoning energy requirements. Diesel demand is poised to witness a twofold increase to 163 MT by 2029-30, with diesel and petrol accounting for 58% of India's oil demand by 2045.

Company Information

Cryogenic OGS Ltd provides high-quality measurement and filtration equipment and systems by fabrication and assembling for various sectors like oil, gas, chemicals and allied fluid industry. Focused on innovative and tailored services, for the oil, gas, chemicals and allied fluid industry, it provides customised solutions to meet the specific needs of its customers.

Its team of experts works closely with clients to understand their unique requirements, developing tailored strategies that maximise efficiency and minimise costs.

Risks of Cryogenic OGS IPO

• Increase in the Cost of Raw Materials

Any increase in the cost of its raw material or a shortfall in the supply of raw materials, may adversely affect the pricing and supply of its products and have an adverse effect on the business, results of operations and financial condition.

• Major Revenues from Top 5 Customers

The company’s top five customers contribute the majority of its revenues from operations. Any loss of business from one or more of them may adversely affect its revenues and profitability. Further, the company cannot assure that the customers which contribute to the major part of its revenue stream will pay it the amounts due to us on time, or at all.

• Significant Dependence on Sale of Air Eliminators

The company is significantly dependent on the sale of Air eliminators and oil and gas metering skids. An inability to anticipate or adapt to evolving up gradation of the required products or inability to ensure product quality or reduction in the demand of these products may adversely impact its revenue from operations and growth prospects.

Anchor Investor Bidding Date

The anchor portion of the IPO opens for bidding on July 3, 2025.

IPO Registrar and Book Running Lead Manager

• IPO Registrar: MUFG Intime India Pvt Ltd
• Book Running Lead Manager: Beeline Capital Advisors Private Ltd

Business Model

Offering diversified products and solutions to its customers in each of the segments in which the company operates, the major products of Cryogenic OGS Ltd include:

• Basket Strainers: Designed for removing debris from pipelines, protecting pumps, valves, and other downstream equipment.

• Air Eliminators: Essential for removing air and other gases from liquid systems to ensure accurate metering and efficient system operation.

• Prover Tanks: Used for calibrating the volume of flow meters, ensuring precise measurement in various industrial applications.

• Additive Dosing Skid: A very flexible System for the continuous and fully automatic Dosing of additives into the main product line.

• Truck Loading/Tank Wagon Loading Skid (Liquid & Gas Skid): Skid for liquid and gas for measurement, control and filtration.

Company Growth Trajectory

Revenue from operations of Cryogenic OGS Ltd grew from ₹22.0216 crores in FY 23 to ₹32.9046 crores in FY 25. Its profit after tax margin increased slightly from 18.51% in FY 23 to 18.61% in FY 25. Consistency in quality and service standards coupled with experienced promoters, management and a well-trained employee base has helped the company grow over the years.

Market Position

Spanning over 8300 Square meters located at Vadodara, Gujarat, Cryogenic’s production facilities are equipped with all the required machinery and equipment required for its production process. The company has obtained various registrations and certifications that facilitate its business and help it to secure orders from renowned customers.

Further its manufacturing facility and processes are ISO 45001: 2018 certified for occupational health and safety management systems. Further its manufacturing facility is also ISO 14001:2015 certified for having standard environment management systems in place.

How to Check Allotment Status of Cryogenic OGS IPO?

1. Visit the Registrar’s Website

• Visit the official website of MUFG Intime India Pvt Ltd
• Click on ‘Public Issues’ from ‘Investor Services’
• Select company name and enter either your PAN, application number, DP/client ID or account number
• Click on ‘Submit’ to know the status

2. Check on the Bombay Stock Exchange Website

The Bombay Stock Exchange (BSE) also has an IPO allotment status page. Go to www.bseindia.com and find the 'Investor Services' tab. Under 'Investors Services', click on 'Status of Issue Application'. This will take you to the IPO allotment status page. On the BSE IPO page, follow these steps:

• Choose the Issue Type
• Select the Issue Name from dropdown
• Put in either your application number or PAN number
• Check the box ‘I’m not a robot’
• Click on ‘Search’ to know allotment status

How to Apply for Cryogenic OGS IPO?

To apply for this IPO:

• Step 1: Log in to your Kotak Securities Demat account: Log in to your Demat account to access IPO investments. Next, select the current IPO section.
• Step 2: Specify IPO details: Enter the number of lots and the price you wish to apply for.
• Step 3: Enter UPI ID After entering your UPI ID, click submit. This will place your bid with the exchange.
• Step 4: Mandate Notification: Your UPI app will receive a mandate notification to block funds.
• Step 5: Approve Request: Your funds will be blocked once you approve the mandate request on your UPI.