Stockgram

Scoda Tubes IPO: The initial public offering (IPO) of Scoda Tubes Limited hit the Indian primary market today. The public issue will remain open until 30 May 2025. Scoda Tubes IPO will remain open from Wednesday to Friday this week. The company has fixed the Scoda Tubes IPO price band at ₹130 to ₹140 per equity share. The public issue aims to raise ₹220 crore by issuing fresh shares, which is proposed for listing on the BSE and the NSE. Ahead of the Scoda Tubes IPO subscription opening, shares of the company are trading at a premium of ₹23 per equity share in the grey market today.

1] Scoda Tubes IPO GMP: Company shares are trading at a premium of ₹23 in the grey market today.

2] Scoda Tubes IPO price: The company has fixed price band of the public issue at ₹130 to ₹140 per equity share.

3] Scoda Tubes IPO subscription date: The public issue has opened today and will remain open until 30 May 2025.

4] Scoda Tubes IPO size: The company aims to raise ₹220 crore from its initial public offerings.

5] Scoda Tubes IPO lot size: Bidders can apply in lots, and one lot comprises 100 company shares.

6] Scoda Tubes IPO allotment date: The most likely date for finalization of share allocation is 31 May 2025. In case of any delay, as 31 May is Saturday, applicants can expect share allotment on Monday next week.

7] Scoda Tubes IPO registrar: MUFG Intime India Private Limited or Link Intime India Private Limited has been appointed official registrar of the book build issue.

8] Scoda Tubes IPO investment limit: A retail bidder can apply for a minimum of one lot and a maximum of 14 lots. So, one would require at least ₹14,000 ( ₹140 x 100) to apply for the public issue, whereas one can pump a maximum of ₹1,96,000 [14 x ( ₹140 x 100)] into this initial offer.

9] Scoda Tubes IPO listing date: The most likely date for the share listing is 4 June 2025, which is Wednesday next week.

10] Scoda Tubes IPO review: Assigning a 'subscribe' tag to the book build issue, Canara Bank Securities said, "Scoda Tubes Limited's technical specialization, backward integration, and global certification profile support its position as a long-term player in the precision stainless-steel manufacturing space. Rising export contributions, high-margin seamless product focus, and alignment with industrial and infrastructure growth trends bolster its long-term scalability. At the upper price band of ₹140, Scoda is valued at a P/E of 30.43x and a P/B of 8.76x on FY24 basis, reasonably in line with industry peers (~31.96x P/E and ~9.56x P/B). While concerns around cash flow efficiency and dependency on key distributors remain, its consistent profitability, asset-backed expansion, and sector tailwinds make it attractive. We recommend SUBSCRIBE for long-term investors seeking exposure to India's precision engineering and export-oriented manufacturing ecosystem."

SBI Capital Securities has also assigned an 'apply' tag to the public issue, saying, “The company is valued at 9MFY25 annualized P/E and EV/EBITDA multiple of 21.8x/9.6x at post-issue capital of upper price band respectively. The company's Revenue/EBITDA/PAT achieved a CAGR of 44%/143%/235% to ₹400 cr/ ₹59 cr/ ₹18 cr during FY22-FY24. The industry forecast indicates healthy growth for the Indian SS pipes and tubes, which is projected to expand at a CAGR of 6% - 8% for the FY24-FY29E period. We recommend the investors to SUBSCRIBE to the issue at the cut-off price.”

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.

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