The initial public offering (IPO) of Scoda Tubes, the stainless steel tubes and pipes maker, has been booked 45 times so far on the third and final day of the bidding process, on Friday (May 30).
The IPO, which opened on May 27 and will close today, received a strong response from investors across categories.
Non Institutional Investors (NII) retained their lead in the subscription rally, by booking their reserved portion by a whopping 106.29 times. Next is the Qualified Institutional Buyers (QIBs), at 47.66 times. Retail investors meanwhile subscribed their reserved portion around 16.78 times.
The company is selling its shares in a fixed price band of ₹130-140 for its IPO, which consists of solely fresh issue of 1.57 crore shares, with no offer-for-sale segment.
In the grey market, shares of Scoda Tubes are commanding a premium of 16% today. Grey market is an unofficial ecosystem where shares start trading before the allotment in the IPO and continue till the listing day. Most investors track the grey market premium (GMP) to get an idea of the listing price.
The entire IPO proceeds will be received by the company. The IPO proceeds will be utilised for expanding production capacity of seamless and welded tubes and pipes, and working capital requirements.
Incorporated in 2008, Scoda Tubes manufactures stainless-steel seamless and welded tubes and pipes. It serves sectors like oil & gas, power, and pharmaceuticals, with exports to 16 countries. The company has backward integration via a hot piercing mill and operates from Mehsana, Gujarat.
Scoda Tubes has recorded profit of ₹25 crore on revenue of ₹361 crore for the nine months period ended December 2024. Profit for the fiscal 2024 grew by 77% to ₹18 crore and revenue increased by 31% to ₹400 crore compared to previous financial year.
Monarch Networth Capital Ltd the book-running lead manager of the Scoda Tubes IPO.
The allotment for the Scoda Tubes IPO is expected to be finalised on June 2, while the shares will be listed on BSE, NSE with a tentative listing date fixed as June 4.
The IPO, which opened on May 27 and will close today, received a strong response from investors across categories.
Non Institutional Investors (NII) retained their lead in the subscription rally, by booking their reserved portion by a whopping 106.29 times. Next is the Qualified Institutional Buyers (QIBs), at 47.66 times. Retail investors meanwhile subscribed their reserved portion around 16.78 times.
The company is selling its shares in a fixed price band of ₹130-140 for its IPO, which consists of solely fresh issue of 1.57 crore shares, with no offer-for-sale segment.
In the grey market, shares of Scoda Tubes are commanding a premium of 16% today. Grey market is an unofficial ecosystem where shares start trading before the allotment in the IPO and continue till the listing day. Most investors track the grey market premium (GMP) to get an idea of the listing price.
The entire IPO proceeds will be received by the company. The IPO proceeds will be utilised for expanding production capacity of seamless and welded tubes and pipes, and working capital requirements.
Incorporated in 2008, Scoda Tubes manufactures stainless-steel seamless and welded tubes and pipes. It serves sectors like oil & gas, power, and pharmaceuticals, with exports to 16 countries. The company has backward integration via a hot piercing mill and operates from Mehsana, Gujarat.
Scoda Tubes has recorded profit of ₹25 crore on revenue of ₹361 crore for the nine months period ended December 2024. Profit for the fiscal 2024 grew by 77% to ₹18 crore and revenue increased by 31% to ₹400 crore compared to previous financial year.
Monarch Networth Capital Ltd the book-running lead manager of the Scoda Tubes IPO.
The allotment for the Scoda Tubes IPO is expected to be finalised on June 2, while the shares will be listed on BSE, NSE with a tentative listing date fixed as June 4.
First Published: May 30, 2025 3:34 PM IST
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