At a Glance
Cryogenic OGS Ltd, a Vadodara-based industrial engineering company, is raising ₹17.77 Cr via a 100% fresh issue on the BSE SME platform. They make filters, meters, strainers, and skids for oil & gas, chemicals, and liquid transfer applications. With 18% PAT margins and zero debt, the financials are cleaner than their filtration systems. But with a ₹2.82L minimum retail ticket, this SME IPO isn’t for retail chillar investors.
1. 🎯 Introduction with Hook
If you’ve never seen a prover tank, you’re not alone. Most folks can’t even guess it’s used to calibrate liquid flow in pipelines.
But for Cryogenic OGS, it’s business as usual.
For 27 years, this quietly profitable engineering company has been building hardcore industrial systems – and now they want to go public.
The IPO? Small, solid, and already 99x subscribed before closing. The price? â‚ą47/share.
The vibe? SME-meets-Petroleum Engineering-NIT grad-startup.
Let’s filter out the hype and decode.
2. 🧪 Business Model – WTF Do They Even Do?
Cryogenic OGS Ltd designs, manufactures, and assembles fluid handling, measurement, and filtration systems for industrial use.
Their clients? Mostly B2B buyers in:
- 🚢 Oil & Gas
- 🧪 Chemicals
- đź’§ Liquid processing and transport
Products Include:
- Basket Strainers – keep gunk out of the pipes
- Air Eliminators – remove air bubbles for accurate flow metering
- Additive Dosing Skids – precise injection into main lines
- Truck Loading Skids – used at fuel depots, gas terminals
- Prover Tanks – for calibration and compliance
