Latest news with #PED
Business Standard
a day ago
- Business
- Business Standard
Scoda Tubes IPO subscribed 53.78 times
The offer received bids for 63.70 crore shares as against 1.12 crore shares on offer. The initial public offer of Scoda Tubes received bids for 63,70,47,300 shares as against 1,18,46,169 shares on offer, according to stock exchange data at 17:30 IST on Friday (30 May 2025). The issue was subscribed 53.78 times. The issue opened for bidding on 28 May 2025 and it will close on 30 May 2025. The price band of the IPO is fixed between Rs 130 and 140 per share. An investor can bid for a minimum of 100 equity shares and in multiples thereof. The offer comprises 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
2 days ago
- Business
- Business Standard
Scoda Tubes IPO subscribed 8.11 times
The offer received bids for 9.60 crore shares as against 1.12 crore shares on offer. The initial public offer of Scoda Tubes received bids for 9,60,85,200 shares as against 1,18,46,169 shares on offer, according to stock exchange data at 17:00 IST on Thursday (29 May 2025). The issue was subscribed 8.11 times. The issue opened for bidding on 28 May 2025 and it will close on 30 May 2025. The price band of the IPO is fixed between Rs 130 and 140 per share. An investor can bid for a minimum of 100 equity shares and in multiples thereof. The offer comprises 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 byapproximately 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
3 days ago
- Business
- Business Standard
Scoda Tubes IPO subscribed 2.06 times
The offer received bids for 2.43 crore shares as against 1.18 crore shares on offer. The initial public offer of Scoda Tubes received bids for 2,43,53,100 shares as against 1,18,46,169 shares on offer, according to stock exchange data at 17:00 IST on Wednesday (28 May 2025). The issue was subscribed 2.06 times. The issue opened for bidding on 28 May 2025 and it will close on 30 May 2025. The price band of the IPO is fixed between Rs 130 and 140 per share. An investor can bid for a minimum of 100 equity shares and in multiples thereof. The offer comprises 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 byapproximately 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.
New Straits Times
4 days ago
- Business
- New Straits Times
Asean 2045: Govt to enhance scope of regional energy cooperation
PUTRAJAYA: The Energy Transition and Water Transformation Ministry has voiced its full support for the Kuala Lumpur Declaration on Aseab 2045: Our Shared Future, calling it a pivotal step towards realising the Asean Economic Community Strategic Plan. Deputy Prime Minister Datuk Seri Fadillah Yusof, who is also in charge of ministry, said the ministry is committed to enhancing regional energy cooperation by finalising strategic frameworks and action plans under the Priority Economic Deliverables (PED), aimed at fostering a just and structured energy transition. He said among key initiatives undertaken to reach the goals is the upcoming Asean Plan of Action for Energy Cooperation (APAEC) 2026–2030, which will serve as the framework for long-term regional energy strategies towards a resilient, inclusive, and sustainable energy system across Asean by 2045. Fadillah also underscored the importance of advancing the Asean Power Grid (APG) through the implementation of a Memorandum of Cooperation, which will facilitate interconnectivity between member states' electricity grids. "This will accelerate regional grid integration and enable broader adoption of clean energy sources and pave the way for cross-border power trading and greater use of renewable energy," he said in a statement today. Fadillah said two other regional agreements, namely the Trans Asean Gas Pipeline Agreement (TAGP) and the Asean Petroleum Security Agreement (APSA), will serve as foundational frameworks to ensure secure and reliable supply chains of natural gas and petroleum, which are essential for supporting a phased transition to low-carbon energy systems, especially in power generation. "Through these initiatives, the ministry is committed to supporting the Kuala Lumpur Declaration of Asean 2045, including efforts to position energy transition as a strategic pillar in building a more sustainable, inclusive, and resilient Asean Economic Community. "This commitment aligns with Malaysia Madani, the national development framework that champions sustainability, well-being, and innovation. "It also strengthens regional collaboration for the shared benefit of all Asean communities," he said. Yesterday, Asean leaders adopted the Kuala Lumpur Declaration on Asean 2045: Our Shared Future, which set the foundation to guide the region's development and cooperation over the next two decades. The declaration, endorsed during the 46th Asean Summit here, represents a significant milestone in the bloc's commitment to building a more resilient, innovative, dynamic and people-centred regional community. According to the Declaration, Asean member states reaffirmed their collective resolve to enhance regional unity, promote inclusive and sustainable development and strengthen institutional capacity to respond effectively to existing and future megatrends. The document also envisions Asean as the epicentre of growth in the Indo-Pacific region, with a strong emphasis on regional solidarity, a shared identity and equitable access to economic opportunities among its people. – Benama
Barnama
5 days ago
- Business
- Barnama
ASEAN 2045: PETRA To Enhance Scope Of Regional Energy Cooperation
Deputy Prime Minister who is also Energy Transition and Water Transformation Minister Datuk Seri Fadillah Yusof PUTRAJAYA, May 27 (Bernama) -- The Ministry of Energy Transition and Water Transformation (PETRA) has voiced its full support for the Kuala Lumpur Declaration on ASEAN 2045: Our Shared Future, calling it a pivotal step towards realising the ASEAN Economic Community Strategic Plan. Deputy Prime Minister Datuk Seri Fadillah Yusof, who is also in charge of PETRA, said the ministry is committed to enhancing regional energy cooperation by finalising strategic frameworks and action plans under the Priority Economic Deliverables (PED), aimed at fostering a just and structured energy transition. He said among key initiatives undertaken to reach the goals is the upcoming ASEAN Plan of Action for Energy Cooperation (APAEC) 2026–2030, which will serve as the framework for long-term regional energy strategies towards a resilient, inclusive, and sustainable energy system across ASEAN by 2045. Fadillah also underscored the importance of advancing the ASEAN Power Grid (APG) through the implementation of a Memorandum of Cooperation, which will facilitate interconnectivity between member states' electricity grids. 'This will accelerate regional grid integration and enable broader adoption of clean energy sources and pave the way for cross-border power trading and greater use of renewable energy,' he said in a statement today. Fadillah said two other regional agreements, namely the Trans ASEAN Gas Pipeline Agreement (TAGP) and the ASEAN Petroleum Security Agreement (APSA), will serve as foundational frameworks to ensure secure and reliable supply chains of natural gas and petroleum, which are essential for supporting a phased transition to low-carbon energy systems, especially in power generation. 'Through these initiatives, PETRA is committed to supporting the Kuala Lumpur Declaration of ASEAN 2045, including efforts to position energy transition as a strategic pillar in building a more sustainable, inclusive, and resilient ASEAN Economic Community. 'This commitment aligns with Malaysia MADANI, the national development framework that champions sustainability, well-being, and innovation. It also strengthens regional collaboration for the shared benefit of all ASEAN communities,' he said. Yesterday, ASEAN leaders adopted the Kuala Lumpur Declaration on ASEAN 2045: Our Shared Future, which set the foundation to guide the region's development and cooperation over the next two decades.
