Cryogenic OGS Files Draft Red Herring Prospectus for IPO

Cryogenic OGS Limited, a provider of measurement and filtration solutions, has filed its Draft Red Herring Prospectus with the BSE SME for a proposed IPO of up to 5 million shares. The funds will be used for working capital and general corporate purposes to support the company's expansion and operational scaling.

Vadodara, (Gujarat) [India]: Cryogenic OGS Limited, a prominent provider of advanced measurement and filtration solutions for the oil, gas, chemical, and allied fluid industries, has filed its Draft Red Herring Prospectus (DRHP) with the BSE SME platform. The proposed Initial Public Offering (IPO) will consist of up to 50,00,000 equity shares.

The objective of the IPO is to meet the company's working capital needs and general corporate purposes as Cryogenic scales up operations and expands its market reach.

For the fiscal year ending March 31, 2024, Cryogenic reported revenue of ₹2,425.41 Lakhs, EBITDA of ₹638.59 Lakhs, and PAT of ₹537.78 Lakhs.

Cryogenic OGS Limited offers end-to-end services in design, process engineering, manufacturing, and assembly, and has supplied products such as basket strainers and air eliminators to over 250 oil and gas terminal Automation Projects in India, serving major players including IOCL, BPCL, and HPCL.

The company's quality management system is ISO 9001:2015 certified, and its manufacturing facility and processes are ISO 45001:2018 and ISO 14001:2015 certified for Occupational Health and Safety and Environmental Management Systems, respectively.

The Book Running lead manager for the Issue is Beeline Capital Advisors Private Limited, and Link Intime India Private Limited is the registrar to the issue.

(With inputs from agencies.)