Flat Debut! Scoda Tubes shares list at ₹140, same as IPO price
The IPO, valued at ₹ 220 crore, was open for subscription from May 28 to May 30.
The IPO concluded on an strong note, receiving bids amounting to 57.37 times the shares on offer over the three-day bidding period. A total of 63.11 crore shares were bid for, compared to the 1.10 crore shares available. The retail investor portion was subscribed 20.89 times, while the non-institutional investor (NII) category saw a subscription of 121.72 times. Meanwhile, the Qualified institutional buyers (QIBs) portion was booked 72.97 times.
Scoda Tubes IPO was a completely fresh issue comprising 1.57 crore shares, with no offer-for-sale component. The minimum application size was set at 100 shares, requiring a minimum investment of ₹ 14,000 from retail investors.
Scoda Tubes intends to deploy the proceeds from its initial public offering (IPO) towards multiple strategic objectives, including capital expenditure aimed at expanding its manufacturing capacity. A portion of the funds will also be allocated to meet working capital requirements, while the remainder will be used for general corporate purposes, supporting the company's broader growth and operational plans.
Monarch Networth Capital Ltd is acting as the book-running lead manager for the Scoda Tubes IPO, while MUFG Intime India Private Limited, also known as Link Intime, has been appointed as the registrar to the issue.
Established in 2008 and headquartered in Gujarat, Scoda Tubes has built a strong presence in the stainless steel segment, focusing on the production of seamless and welded pipes and tubes. These products are integral to various sectors such as oil and gas, chemicals, power generation, and infrastructure development.
The company operates a fully integrated manufacturing facility that houses advanced machinery and quality testing equipment, enabling it to meet both domestic and export-grade standards. As part of its growth strategy, Scoda Tubes continues to export a portion of its output to international markets, reflecting its commitment to quality and global competitiveness.
Scoda Tubes reported a significant financial upswing in the fiscal year 2024. Revenue surged to ₹ 402.49 crore, supported by a sharp rise in demand across key user industries. The company also posted a net profit of ₹ 18.3 crore, marking a notable 77 percent jump over the previous year. These numbers highlight the company's operational efficiency and financial momentum in the run-up to its IPO.
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