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Scoda Tubes IPO Day 3 update; check subscription status, GMP, listing date
Scoda Tubes IPO entered the day 3 of the subscription window with a subscription of 8.11 times. Scoda Tubes shares were commanding a grey market premium (GMP) of ₹22 or 15.71 per cent
SI Reporter New Delhi
Scoda Tubes IPO Day 3 subscription status: The three-day subscription window to bid for the initial public offering (IPO) of stainless-steel tubes and pipes manufacturing company Scoda Tubes is set to conclude today, Friday, May 30, 2025.
Scoda Tubes IPO, which opened for subscription on Wednesday, May 28, 2025, has received a decent response from investors so far. The NSE data shows that the ₹220 crore offering of Scoda Tubes received bids for 9,60,85,200 shares, against 1,18,46,169 shares on offer, resulting in an oversubscription of 8.11 times by the end of the second day of subscription.
The public offering witnessed the highest demand from the non-institutional investors (NIIs), who oversubscribed the category reserved for them by 20.21 times. This was followed by retail investors, who bid for 6.46 times the reserved quota, while the qualified institutional buyers (QIBs) portion was subscribed 1.93 times.
Scoda Tubes IPO details
Scoda Tubes IPO comprises an entirely fresh issue of 15.7 million equity shares with no offer for sale (OFS) component.
The public offering is available at a price band of ₹130-140 per share, with a lot size of 100 shares. Investors can bid for a minimum of 100 shares and in multiples thereof.
A retail investor would require a minimum of ₹14,000 to bid for one lot or 100 shares of Scoda Tubes IPO (taking the upper end of the IPO price into consideration). A retail investor can bid for a maximum of 14 lots or 1,400 shares, amounting to ₹1,96,000.
Scoda Tubes IPO grey market premium (GMP)
The unlisted shares of Scoda Tubes were commanding a strong premium in the grey market on the last day of its subscription window. Sources tracking unofficial market activities revealed that Scoda Tubes shares were seen trading at around ₹162 per share, reflecting a grey market premium (GMP) of ₹22 or 15.71 per cent over the upper end of the issue price.
Scoda Tubes IPO review
Analysts at the brokerage firm, Bajaj Broking, have assigned a neutral rating to the Scoda Tubes IPO, while Angel One has recommended investors to subscribe for the long term. READ MORE
Scoda Tubes IPO allotment date, listing date
As the subscription window closes today, the basis of allotment of Scoda Tubes shares is likely to take place on Monday, June 2, 2025, with the shares being credited to demat accounts on Tuesday, June 3, 2025.
Shares of Scoda Tubes are scheduled to make their D-Street debut on Wednesday, June 4, 2025, by listing on the BSE and NSE.
Scoda Tubes IPO objective
The company proposes to utilise the proceeds from the public offering to finance capital expenditure for expanding the production capacity of seamless and welded tubes and pipes, amounting to ₹77 crore. An amount of ₹110 crore, the company said, will be allocated towards funding a part of the company's incremental working capital requirements. The remaining will be used for general corporate purposes.
Scoda Tubes IPO registrar, lead managers
For the public issue, MUFG Intime India (erstwhile Link Intime) serves as the registrar, while Monarch Networth Capital is the sole book-running lead manager.
About Scoda Tubes
Scoda Tubes is a manufacturer of stainless-steel piping solutions. Its portfolio includes high-quality Austenitic, Martensitic, Duplex, and Super Duplex seamless pipes, tubes, and 'U' tubes, designed for durability across diverse industrial applications. The company operates a fully integrated manufacturing facility with advanced solar infrastructure.
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