Scoda Tubes IPO subscribed 53 times on final day of bidding
New Delhi, The initial public offer of stainless-steel tubes and pipes manufacturer Scoda Tubes received 53.78 times subscription on the closing day of bidding on Friday.
ADVERTISEMENT The initial share sale got bids for 63,70,52,700 shares against 1,18,46,169 shares on offer, as per NSE data.
The category for non-institutional investors fetched 113.03 times subscription while the category for Qualified Institutional Buyers (QIBs) got subscribed 69.51 times. The quota for Retail Individual Investors (RIIs) received 19.39 times subscription.
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 has a price band of Rs 130-140 per share.
ADVERTISEMENT 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.
(You can now subscribe to our ETMarkets WhatsApp channel)
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
19 minutes ago
- Time of India
Reliance Infra targets Rs 3,000 cr defence exports in 2 yrs
Reliance Infrastructure Ltd , the flagship company of Anil Ambani's Reliance Group, is targeting Rs 3,000 crore from the export of 155 mm ammunition and aggregates by the end of financial year 2027, sources said. In the current year itself, the company is estimated to export Rs 1,500 crore of large calibre ammunition. Reliance Infrastructure has already clocked exports of up to Rs 100 crore of artillery ammunition and aggregates and is aiming to be among the top three exporters of defence equipment in India, sources aware of the matter said. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like When the Camera Clicked at the Worst Possible Time Read More Undo The key export market for Reliance includes countries in the European Union, focusing on large restocking demand for artillery ammunition. According to the experts, the market size for restocking is estimated at Rs 4,00,000 crore. Live Events Sources said Reliance has been able to make inroads in the highly competitive markets of the European Union and South East Asia. When contacted, a Reliance Infrastructure spokesperson confirmed that the ammunition export is the key priority of the company as it develops Dhirubhai Ambani Defence City (DADC) in Ratnagiri , Maharashtra, with a capital outlay of Rs 5,000 crore. The company has been allotted 1,000 acres of land in Watad Industrial Area of Ratnagiri, Maharashtra to develop DADC. It will be the largest greenfield project in the defence sector in India by any private sector company. The company is setting up an integrated explosives and ammunition manufacturing plant in DADC. Recently, Reliance Defence also announced a strategic partnership with Dusseldorf-based Rheinmetall AG . The collaboration between the companies will include the supply of explosives and propellants for medium and large caliber ammunition to Rheinmetall by Reliance. Furthermore, the two companies intend to engage in joint marketing activities for selected products and aim to further extend their cooperation based on future opportunities. In order to support this collaboration, Reliance Defence will set up a greenfield manufacturing facility in Ratnagiri, Maharashtra. The manufacturing facility will have an annual capacity to produce up to 200,000 artillery shells, 10,000 tons of explosives and 2,000 tons of propellants. This new facility will help Reliance Defence achieve its objective of being amongst the top three defence exporters in the country.
Time of India
30 minutes ago
- Time of India
New indoor shooting range in Nalanda soon: Dy CM
Patna: The state govt has decided to construct a new indoor shooting range in Nalanda. It will be the first such modern facility in the east and northeast India, said deputy CM Samrat Choudhary on Sunday. Choudhary, who also holds the finance portfolio in the Nitish Kumar govt, said an administrative approval has been given to an amount of over Rs 24 crore for the construction of a 25x50-metre shooting range on a vacant land in Kalyan Bigha of Nalanda district, which is also the native place of CM Kumar. "A 25x50-metre outdoor range will also be developed in the eastern and south-eastern side of the indoor shooting range. The new shooting range will provide the best of facilities to the players to practice for competitions," he said. The deputy CM added an existing 14-year-old 10-metre indoor shooting range at Kalyan Bigha is the second-best in the country, but it does not serve the purpose because of the absence of a 25x50-metre range. The existing indoor range, inaugurated on May 14, 2011, first operated from the panchayat bhavan for more than five years, before the CM inaugurated a 35-lane range on Jan 1, 2017. Choudhary said this was the first such large and modern shooting range in eastern and northeastern India. "Here, scoring is also done automatically and online. Many national level matches have been held here. This is the second shooting range of this kind in the country after Bhopal in Madhya Pradesh, where weapons are also provided to the players," he said. Patna: The state govt has decided to construct a new indoor shooting range in Nalanda. It will be the first such modern facility in the east and northeast India, said deputy CM Samrat Choudhary on Sunday. Choudhary, who also holds the finance portfolio in the Nitish Kumar govt, said an administrative approval has been given to an amount of over Rs 24 crore for the construction of a 25x50-metre shooting range on a vacant land in Kalyan Bigha of Nalanda district, which is also the native place of CM Kumar. "A 25x50-metre outdoor range will also be developed in the eastern and south-eastern side of the indoor shooting range. The new shooting range will provide the best of facilities to the players to practice for competitions," he said. The deputy CM added an existing 14-year-old 10-metre indoor shooting range at Kalyan Bigha is the second-best in the country, but it does not serve the purpose because of the absence of a 25x50-metre range. The existing indoor range, inaugurated on May 14, 2011, first operated from the panchayat bhavan for more than five years, before the CM inaugurated a 35-lane range on Jan 1, 2017. Choudhary said this was the first such large and modern shooting range in eastern and northeastern India. "Here, scoring is also done automatically and online. Many national level matches have been held here. This is the second shooting range of this kind in the country after Bhopal in Madhya Pradesh, where weapons are also provided to the players," he said.
India.com
31 minutes ago
- India.com
From bank accounts to new mobile connections and more: What is KYC and why is it mandatory for availing key services?
Representational Image What is KYC: From opening a new bank account to purchasing a new SIM card, or availing any financial service like credit cards, bank loans, etc, KYC is the first step required by the service provider to authenticate their customer. But what exactly is KYC, and why is it mandatory to avail key services in India? Let us find out. What is KYC and what are the required documents it needs? In layman's terms, KYC or Know Your Customer is a process used by a service provider or company, such as a bank or a telecom service provider, to ensure that their customer is a real entity, and the details furnished by him/her to avail a service, are not fake or fraudulent. KYC process requires government-issued documents that the company can use to authenticate the identity, address, and other details of the customer. Depending on the service, the most commonly required documents for KYC process include the Aadhaar card, PAN card, passport, voter ID card, and/or driving license. Most KYC processes require customers to provide copies of these documents in person or via live photo or video verification. Why banks, financial services, digital wallets require KYC? KYC is a mandatory process in banks, and indeed the entire financial sector, as it significantly reduces the chances of financial crimes like money laundering, fraud accounts, etc. KYC ensures that the person availing any financial services, like taking out a loan or opening a new bank account, is the same one in submitted documents. Banks and other financial institutions can provide limited services without KYC, and may even freeze bank accounts if the process is not completed on time. Similarly, digital wallets like Paytm, PhonePe, Google Pay, Amazon Pay, etc, have limited functionality without KYC, which is required to enjoy full access to their services. Why new mobile connections need KYC? Akin to financial services, telecom service provider require KYC before issuing and activating a new SIM card to ensure that the person availing the service is the same one in the documents. Today, mobile operators commonly use Aadhaar-based eKYC where a customer's identity verified via OTP. Various KYC methods Apart from Aadhaar-based eKYC, customers can also opt for a physical KYC by filling up relevant forms and submitting photocopies of the required documents. Additionally, several bank services require Video KYC in which a bank agent confirms the identity and details of the customer via a live video call.
