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Business Standard
02-06-2025
- Business
- Business Standard
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.
Business Standard
29-05-2025
- Business
- Business Standard
Aegis Vopak Terminals IPO ends with 2.09x subscription
The offer received bids for 14.43 crore shares as against 6.90 crore shares on offer. The initial public offer of Aegis Vopak Terminals received bids for 14,43,72,942 shares as against 6,90,58,296 shares on offer. The issue was subscribed 2.09 times. The Qualified Institutional Buyers (QIBs) category was subscribed 3.30 times. The Retail Individual Investors (RIIs) category was subscribed 0.77 times. The Non-Institutional Investors (NIIs) category was subscribed 0.56 times. The issue opened for bidding on 26 May 2025 and it closed on 28 May 2025. The price band of the IPO is fixed between Rs 223 and 235 per share. The offer comprised a fresh issue of up to 119,148,936 equity shares at the upper price band of Rs 235 and 125,560,538 equity shares at the lower price band of Rs 223, aggregating to Rs 2,800 crore. The company will use the IPO proceeds to repay borrowings worth Rs 2,015.95 crore, fund Rs 671.3 crore towards acquiring a cryogenic LPG terminal at Mangalore, and for general corporate purposes. As of 31 March 2025, total borrowings stood at Rs 2,474.17 crore. The Mangalore terminal, with a total capex of Rs 968 crore, is expected to commence operations by June 2025. The project is being developed by Sea Lord Containers, a wholly owned subsidiary of Aegis Logistics and part of the promoter group. Ahead of the IPO, Aegis Vopak Terminals on Friday, 23 May 2025, raised Rs 1,259.99 crore from anchor investors. The board allotted 53,617,021 shares at Rs 235 each to 32 anchor investors. Aegis Vopak Terminals is India's largest third-party tank storage operator for LPG and liquid products, with a total capacity of 1.5 million cubic meters for liquids and 70,800 tonnes for LPG as of 31 December 2024. The company accounts for approximately 11.5% of Indias total LPG static storage capacity and 25.5% of third-party liquid storage capacity. Aegis Vopak is a joint venture between Aegis Logistics (50.1%) and Vopak India BV (47.4%), part of Dutch-based Royal Vopak, a global leader in tank storage with 77 terminals in 23 countries. The company is expanding LPG storage capacity to 200,800 tonnes by FY26 and recently added 101,900 cubic meters of liquid storage at its JNPA terminal in Navi Mumbai. The firm reported a consolidated net profit of Rs 85.8910 crore and total income of Rs 464.18 crore for the nine months ended on 31 December 2024.
