Cryogenic OGS Limited Files Draft Red Herring Prospectus for Upcoming IPO
Cryogenic OGS Limited, a premier provider of measurement and filtration solutions in the oil and gas sector, has filed its Draft Red Herring Prospectus with the BSE SME platform. The IPO aims to offer up to 50,00,000 equity shares to meet its working capital and corporate expansion needs.
- Country:
- India
In Vadodara, Gujarat, on September 18, Cryogenic OGS Limited, a key player in advanced measurement and filtration solutions for the oil, gas, chemical, and allied fluid industries, has officially filed its Draft Red Herring Prospectus (DRHP) with the BSE SME platform. The impending Initial Public Offering (IPO) will include up to 50,00,000 equity shares.
The primary goal of this IPO is to address the company's working capital requirements and general corporate objectives as Cryogenic OGS Limited scales up its operations and broadens its market reach.
For the fiscal year concluding on March 31, 2024, Cryogenic OGS Limited recorded a revenue of Rs2,425.41 lakhs, an EBITDA of Rs638.59 lakhs, and a PAT of Rs537.78 lakhs. The company is a comprehensive solutions provider, offering end-to-end services in design, process engineering, manufacturing, and assembly. It has supplied critical products to over 250 oil and gas terminal automation projects across India, serving industry giants like IOCL, BPCL, and HPCL.
Cryogenic OGS Limited has secured multiple registrations and certifications to boost its business and enhance its ability to secure orders from prestigious clients. It is ISO 9001:2015 certified for quality management, ISO 45001:2018 certified for occupational health and safety, and ISO 14001:2015 certified for environmental management systems. The Book Running Lead Manager for the issue is Beeline Capital Advisors Private Limited, with Link Intime India Private Limited serving as the registrar to the issue.
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(With inputs from agencies.)
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