IPO
Cryogenic OGS’ Rs.18-Cr SME IPO sees 646 times subscription
Vadodara-based Cryogenic OGS ' initial share sale witnessed a 646.47 times subscription. The price band for the offer is INR 44-47 per share. The company is raising INR 18 crore via maiden public issue at the upper price band. Investors have applied for 174.93 crore equity shares as compared to the offer size of 27.06 lakh shares via 1.9 lakh applications.Retail and non-institutional investors bid 773.8 times and 674.34 times their allotted quotas. Qualified institutional buyers subscribed to 209.59 times their reserved portion.Cryogenic manufactures equipment and systems for measurement and filtration for industries including oil, gas, chemicals and allied fluid industries.Beeline Capital Advisors is the book running lead manager for the issue.
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