Scoda Tubes IPO Closes Today: Check Subscription Status, GMP Today
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Unlisted shares of Scoda Tubes Ltd are currently trading at Rs 162 apiece in the grey market, which is a 15.71 per cent premium or GMP over the IPO price of Rs 140.
Scoda Tubes IPO Day 3: The initial public offering of Scoda Tubes Ltd is going to be closed today, Friday, May 30. It has received a strong response from investors. Till 10:09 am on the final day of bidding on Friday, the Rs 220-crore IPO received a 10.26 times subscription, garnering bids for 11,28,23,100 shares as against 1,10,00,086 shares on offer.
The retail and NII participation stood at 7.73 times and 27.03 times, respectively. Its qualified institutional buyer (QIB) category got a 2.10 times subscription, according to data from exchanges.
The three-day IPO was opened on Wednesday, May 28. It received a 2.24 times subscription on the first day of bidding and a 8.77 times subscription on Day 2.
Scoda Tubes IPO Price
The price band has been fixed in the range of Rs 140 apiece.
Scoda Tubes IPO GMP Today
According to market observers, unlisted shares of Scoda Tubes Ltd are currently trading at Rs 162 apiece in the grey market, which is a 15.71 per cent premium or GMP over the IPO price of Rs 140. It indicates listing gains for investors on June 3, the tentative listing date.
The shares will be listed on both BSE and NSE.
The GMP is based on market sentiments and keeps changing. 'Grey market premium' indicates investors' readiness to pay more than the issue price.
The minimum lot size for an application is 100. The minimum amount of investment required by retail investors is Rs 14,000. The bidding can be done in multiple of 100.
Scoda Tubes on Tuesday raised Rs 66 crore from anchor investors.
The Gujarat-based company's IPO is entirely a fresh issue of equity shares, aggregating up to Rs 220 crore with no offer for sale (OFS) component.
The issue, with a price band of Rs 130-140 per share, will conclude on May 30.
Proceeds of the issue will be used to expand the production capacity of seamless and welded tubes and pipes, working capital requirements and general corporate purposes.
The company is a stainless-steel tubes and pipes manufacturer, catering to a diverse range of customers like EPC, and industrial companies engaged in oil and gas, chemicals, fertilisers, power, etc.
Monarch Networth Capital is the book-running lead manager to the IPO.
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