New Delhi, July 10 (H.S.): Shares of Cryogenic OGS debuted impressively on the stock market, pleasing IPO investors. Priced at ₹47 during the IPO, the shares listed at ₹89.30 on the BSE’s SME platform, marking a 90 percent premium. Following the listing, shares surged to the upper circuit limit of ₹93.76, nearly doubling investors’ money on the first trading day, achieving a 99.49 percent profit. The IPO, which raised ₹17.77 crore, was open for subscription from July 3 to July 7 and saw overwhelming interest, with an overall subscription of 694.90 times. The QIB portion was subscribed 209.59 times, the NII portion 1,155.38 times, and retail investors’ portion 773.70 times.

A total of 3.78 million shares with a face value of ₹10 were issued. The raised funds will support the company’s working capital and corporate purposes. Financially, Cryogenic OGS is on a growth trajectory, reporting a net profit of ₹4.08 crore in FY 2022-23, projected to increase to ₹5.35 crore in 2023-24 and ₹6.12 crore in 2024-25, with revenues growing at a CAGR of over 21 percent, reaching ₹33.79 crore.

Hindusthan Samachar / Jun Sarkar