Scoda Tubes IPO ends with 53.78x subscription
The offer received bids for 63.71 crore shares as against 1.18 crore shares on offer.
The initial public offer of Scoda Tubes received bids for 63,71,18,900 shares as against 1,18,46,169 shares on offer. The issue was subscribed 53.78 times.
The Non-Institutional Investors (NIIs) category was subscribed 113.03 times. The Qualified Institutional Buyers (QIBs) category was subscribed 69.51 times. The Retail Individual Investors (RIIs) category was subscribed 19.40 times.
The issue opened for bidding on 28 May 2025 and it closed on 30 May 2025. The price band of the IPO is fixed between Rs 130 and 140 per share.
The offer comprised a fresh issue of up to 15714286 equity shares at the upper price band of Rs 130 and 16923077 equity shares at the lower price band of Rs 140, aggregating Rs 220 crore.
The company proposes to utilize the net proceeds from the issue towards capital expenditure related to expanding production capacity of seamless and welded tubes and pipes amounting to Rs 76.99 crore, funding the part incremental working capital requirements of the company amounting to Rs 110 crore and the balance towards general corporate purposes.
The company is expanding capacity of stainless steel seamless products by approximately 10,000 tpa to reach a total capacity of 20,068 tpa and stainless steel welded products by approximately 12,130 tpa to reach a total capacity of 13,150 tpa. The total project cost is Rs 104.984 crore. The seamless manufacturing facility is expected to start commercial production by January 2026 and the welded manufacturing facility is expected to start commercial production by March 2026. As of December 31, 2024, the companys outstanding working capital facility in the form of short-term borrowings is Rs 118.616 crore.
Ahead of the IPO, Scoda Tubes on Tuesday, 27 May 2025, raised Rs 65.99 crore from anchor investors. The board allotted 4,714,200 shares at Rs 140 each to 6 anchor investors.
Scoda Tubes, incorporated in 2008, is a Gujarat-based manufacturer of stainless steel seamless and welded tubes and pipes. It operates a single manufacturing facility in Mehsana with a strong focus on seamless products, which contribute over 85% of revenue.
The company serves both domestic and international markets across industries like oil & gas, chemicals, power, pharma, and transportation, exporting to over 11 countries. Scoda is ISO and PED certified and markets its products under the brand Scoda Tubes.
The firm reported a consolidated net profit of Rs 24.91 crore and total income of Rs 361.17 crore for the nine months ended on 31 December 2024.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Hindu
an hour ago
- The Hindu
A good fix: On the IRCTC and ticket booking
The e-ticketing system of the Indian Railway Catering and Tourism Corporation Ltd. (IRCTC) is one of India's most widely used e-commerce platforms. Crores of Indian rail commuters and passengers use it to book their tickets, which makes it imperative that the system is run robustly. The scale of the operation is revealing — on May 22, 2025, the IRCTC processed a staggering 31,814 tickets in 60 seconds to set a new record. Yet, the popular e-ticketing system, especially the Tatkal booking part, is plagued by issues. Extremely high demand during peak hours, particularly during the designated Tatkal booking window period, often leads to crashes and slow performance. A major concern is that the system is exploited by ticketing agents who use unfair automated tools (or bots), leading to rapidly dwindling ticket availability for passengers. These issues are what prompted the IRCTC to announce two major steps. The first was a major digital overhaul of the ticketing infrastructure using anti-bot systems to prevent unauthorised automated bookings — a measure that led to the de-activation of a whopping 2.5 crore suspect user IDs. Implementation of a content delivery network also helped improve website performance. In addition, Aadhaar verification is necessary immediately after a ticket is booked. The IRCTC has also mandated Aadhaar authentication for all Tatkal bookings, from July 1, along with OTP-based authentication. Authorised agents have been restricted from booking Tatkal tickets during the first 30 minutes of the booking window period. The idea behind an e-ticketing platform and the provision of Tatkal booking of tickets are to provide equitable chances for passengers to travel. Despite more train services having been introduced over the years by the Indian Railways, which is a state monopoly, demand far outstrips supply, and passengers have to rely on advanced booking and Tatkal tickets for their travel. When agents use bots to game the system, it kills the purpose of equity. Therefore, the IRCTC's steps will bring relief to passengers. That said, the Indian Railways must focus not only on easing the process of ticketing but also on elevating the passenger experience in terms of increasing its train and track capacity to fulfil travel demand, ensuring safety and enhancing its facilities. Seen in this context, while these ticketing fixes are important, the true test for the Indian Railways will be its ability to move beyond just technical and administrative solutions and undertake a fundamental expansion of its services to serve India's large passenger clientele. In a way, meaningful expansion to meet the demand will also obviate the need for reworking technological solutions yet again in the future.
Time of India
an hour ago
- Time of India
Air India crash set to trigger over Rs 1,000 crore insurance claims
MUMBAI: The crash of an Air India Boeing 787 Dreamliner in Ahmedabad has set off what may become India's costliest aviation insurance claim, with potential liabilities crossing Rs 1,000 crore, which is more than the total annual premium for the country's aviation sector. Tired of too many ads? go ad free now While the aircraft's age may help contain hull loss, the crash, which reportedly killed over 240 people and caused collateral damage on the ground near the airport, is expected to result in significant liability payouts. Air India has insured its fleet through a $20-billion aviation programme. Hull and liability coverage are split, with Tata AIG, a group company, underwriting part of the risk alongside other domestic insurers. The reinsurance structure is led by a global consortium including AIG, with participation from public sector entities such as New India Assurance and GIC Re. Shares of both fell following the incident by 4% and 3%, respectively. Amit Agarwal, CEO and MD at Howden India, said that aircraft damage would be covered under the aviation hull all-risk section, which insures the current valuation of the aircraft, including spares and equipment. The Dreamliner involved (registration VT-ABN), delivered in 2013, was insured for approximately $115 million in 2021. "Whether the damage is partial or total, the loss would be covered based on the value declared by the airline. " While the hull loss is substantial, liability claims are expected to be larger. "The liability section which is likely the most significant component of the loss, could amount to millions of dollars," said Agarwal, referring to passenger deaths and potential third-party claims from the crash site. Tired of too many ads? go ad free now Under the Montreal Convention of 1999, compensation to passengers is calculated in Special Drawing Rights (SDRs), with a current value of 1,28,821 SDRs, or roughly $1,71,000 per passenger. Further clarity came from Hitesh Girotra of Prudent Insurance Brokers, who estimates the hull value at around $75-80 million. "The liability on the operator will have multiple angles," he said. "The nationality of the passengers will determine the minimum liability under the Montreal Convention. "Additionally, there is third-party property damage liability, and possibly loss of civilian lives where the aircraft crashed." The scale and complexity of the claim reflect the evolving nature of aviation insurance. Narendra Bharindwal, president of the Insurance Brokers Association of India, offered a broader context: "Insurance coverage for large commercial aircraft such as the Boeing 787 is substantial and structured globally." He added, "Hull values can range between $200-300 million and liability cover for international routes often exceeds $500 million. " Air India's aviation programme, like others of its size, is reinsured across global markets. No single insurer bears the entire risk.
Indian Express
3 hours ago
- Indian Express
India's first international fishery tech expo opens in Mumbai, over 6,000 visitors on day 1
India's first-ever International Fishery Tech Expo (IFT Expo 2025) was inaugurated in Mumbai on Thursday in a significant move towards upgrading the fisheries industry. On the first day, over 6,000 trade visitors visited the stalls of over 55 exhibitors from all over India and abroad that showcased recent advancements in fisheries technology. Maharashtra Ports Development Minister Nitesh Narayan Rane launched the three-day event. Dignitaries, including Kishor Tawade, Maharashtra's Commissioner of Fisheries, and officials from Gujarat, Karnataka, and Goa's fisheries departments were present on the occasion. Rane stated, 'This is a world-class platform that brings together technology, policy, and potential — all under one roof. Maharashtra is committed to becoming one of the top five states in fisheries, and events like this are essential to accelerating that journey'. He also emphasized Maharashtra's focus on the application of drones for coastal security and to expedite fisheries development schemes under the leadership of Chief Minister Devendra Fadnavis. The expo is being held at a time when the Union Budget has provided a historic Rs 2,703 crore for the fisheries sector in the 2025-26 fiscal, indicating a powerful thrust towards a tech-friendly 'Blue Economy.' Dr Sreenath K R, Director General of Fisheries Survey of India, said, 'India's fisheries sector is making global waves—exporting to over 130 countries and powered by transformative investments in infrastructure and innovation. Such expos are necessary to drive innovation and align with the Prime Minister's vision for sustainable, tech-driven growth.' IFT Expo 2025 features live exhibits and top-level conferences on issues such as smart aquaculture systems, AI-driven water quality monitoring, innovative aquafeeds, cold chain and refrigeration, and sustainable packaging. Exporters, researchers, fish farmers, policy-makers, and start-ups participated in serious discussions to frame the future of the fisheries industry. The expo seeks to create new partnerships, stimulate investments, and provide an avenue for knowledge-sharing.
