Mumbai: The initial public offering (IPO) of Scoda Tubes, a stainless-steel tubes and pipes manufacturer, is set to close today, Friday, May 30, 2025. The IPO opened for subscription on Wednesday, May 28, 2025.
By the end of Day 2, the Rs 220 crore IPO received 9,60,85,200 bids for shares against 1,18,46,169 available shares. This means the issue was oversubscribed 8.11 times.
Retail and NII Investors Lead the Way
The IPO got the most interest from non-institutional investors (NIIs). This group oversubscribed their portion 20.21 times.
Retail investors also showed strong interest, oversubscribing their share by 6.46 times.
Qualified institutional buyers (QIBs) subscribed 1.93 times their allocated shares.
IPO Details at a Glance
Scoda Tubes IPO includes a fresh issue of 1.57 crore shares, with no offer-for-sale (OFS) part.
Price band: Rs 130 to Rs 140 per share
Lot size: 100 shares
Minimum investment: Rs 14,000 (at Rs 140)
Maximum investment for retail investors: Rs 1,96,000 (1,400 shares)
GMP Shows Positive Sentiment
In the grey market, Scoda Tubes shares are trading at Rs 162, which is Rs 22 higher than the upper IPO price of Rs 140.
This gives a grey market premium (GMP) of 15.71 per cent, showing a positive outlook from unofficial markets.
Expert Views on Scoda Tubes IPO
Angel One recommends subscribing to the IPO for the long term.
Bajaj Broking, however, has given a neutral rating.
Use of IPO Funds
Scoda Tubes will use the IPO money as follows:
- Rs 77 crore for expanding tube and pipe production
- Rs 110 crore for working capital
- The rest for general corporate purposes
Listing and Allotment Dates
Allotment date: Monday, June 2, 2025
Demat credit: Tuesday, June 3, 2025
Listing date: Wednesday, June 4, 2025
The shares will list on both NSE and BSE.
About Scoda Tubes
Scoda Tubes makes high-quality stainless-steel tubes and pipes.
Their products include Austenitic, Martensitic, Duplex, and Super Duplex grades.
The company has a fully integrated plant with advanced solar infrastructure.
Lead Managers and Registrar
Lead Manager: Monarch Networth Capital
Registrar: MUFG Intime India (formerly Link Intime)
