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Business Standard
14 hours ago
- Business
- Business Standard
Ola Electric shares dip over 4% after Q4 loss widens and revenue fall
Shares of Ola Electric on Friday ended over 4 per cent lower after the firm reported a consolidated net loss of Rs 870 crore in the fourth quarter ended March 31, 2025. The stock dropped 4.26 per cent to settle at Rs 50.97 on the BSE. During the day, it tanked 9.71 per cent to Rs 48.07. At the NSE, shares of the firm ended at Rs 50.85, down 4.48 per cent. During the day, it tumbled 9.72 per cent to Rs 48.06. Ola Electric on Thursday reported a consolidated net loss of Rs 870 crore in the fourth quarter ended March 2025, while noting that it is targeting profitability in the current fiscal. The company had reported a net loss of Rs 416 crore in the January-March quarter of 2023-24. The revenue from operations declined to Rs 611 crore compared to Rs 1,598 crore in the year-ago period, Ola Electric said in a regulatory filing. For FY25, the company reported a net loss of Rs 2,276 crore against Rs 1,584 crore in 2023-24. Its revenue from operations declined to Rs 4,514 crore against Rs 5,010 crore in FY24. Ola Electric said it is targeting profitability in FY26. "FY26 will be focused on scaling revenue and operating leverage as the company marches towards sustainable profitability," the company said. Ola Electric said that its gross margins improved by 38 per cent in FY25 while the first quarter of FY26 saw an improvement of 10 percentage points in gross margins over Q4 FY25. Scoda Tubes IPO booked 54x on last day Scoda Tubes' initial public offering (IPO), which concluded on Friday, garnered 54 times more demand than shares on offer. The qualified institutional buyers portion saw 70x subscription, high net worth individual portion 113 x and retail portion 19x. The ₹220 crore offering generated bids of over ₹8,800 crore. Scoda Tubes, a manufacturer of stainless-steel tubes and pipes, raised ₹220 crore in fresh capital through the IPO.
Economic Times
18 hours ago
- Business
- Economic Times
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)
Time of India
20 hours ago
- Business
- Time of India
Scoda Tubes IPO subscribed 53 times on final day of bidding
Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel 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 initial share sale got bids for 63,70,52,700 shares against 1,18,46,169 shares on offer, as per NSE 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 Tubes on Tuesday raised Rs 66 crore from anchor 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) issue has a price band of Rs 130-140 per of the issue will be used to expand the production capacity of seamless and welded tubes and pipes, working capital requirements and general corporate 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.
Business Standard
21 hours 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.
Mint
a day ago
- Business
- Mint
Scoda Tubes IPO Day 3 Live: Issue subscribed 10.51x so far. Check GMP, subscription status, more. Apply or not?
Scoda Tubes IPO Day 3 Live: The public offering for Scoda Tubes, a manufacturer of stainless-steel tubes and pipes, has garnered an impressive response during its first two days and will close today (Friday, May 30). Scoda Tubes IPO price band was established at ₹ 130-140 per share. The company's valuation stands at approximately ₹ 840 crore at the highest point of the price range, according to brokerages. Fifty percent of the total issue size has been allocated for qualified institutional buyers, 35 percent for retail investors, and the remaining 15 percent for non-institutional investors. The firm specializes in manufacturing stainless-steel tubes and pipes, serving a wide variety of clients, including EPC and industrial companies involved in sectors such as oil and gas, chemicals, fertilizers, and power, among others. As per red herring prospectus (RHP), the Ratnamani Metals & Tubes Ltd (with a P/E of 31.93 times), Venus Pipes & Tubes Ltd (with a P/E of 30.77 times), Welspun Specialty Solutions Ltd (with a P/E of 27.15 times), and Suraj Ltd (with a P/E of 34.79 times). The initial public offer of Scoda Tubes IPO has been subscribed 19.17 times on the second day of subscription, as per BSE data. The initial share sale received bids for 22,70,84,900 shares against 1,18,46,169 shares on offer, as on 12:54 IST, according to BSE. The portion for retail investors received 11.74 times subscription while the quota for non-institutional investors subscribed 54.38 times to the issue. The qualified institutional buyers (QIBs) portion has been booked 5.76 times. On the first bidding day, Scoda Tubes IPO subscription status was 2.06 times. According to Canara Bank Securities has provided insights on Scoda, which is currently valued at a P/E ratio of 30.43x and a P/B ratio of 8.76x based on FY24 projections. These figures are in line with industry averages, which stand at approximately 31.96x for P/E and 9.56x for P/B. Although there are concerns regarding cash flow efficiency and reliance on key distributors, Scoda's consistent profitability, strategic asset-backed expansion, and favorable trends in the sector contribute to its appeal. As a result, the brokerage suggests that long-term investors consider subscribing, especially those looking to invest in India's precision engineering and export-oriented manufacturing sectors. SBICAP Securities is valued at 9MFY25 with an annualised P/E ratio and an EV/EBITDA multiple of 21.8x/9.6x, based on the post-issue capital at the upper price limit. During the FY22-FY24 timeframe, the company experienced a CAGR of 44% in revenue, 143% in EBITDA, and 235% in PAT, reaching ₹ 400 crore, ₹ 59 crore, and ₹ 18 crore, respectively. According to industry forecasts, the Indian SS pipes and tubes sector is expected to grow significantly, with a projected CAGR of 6% - 8% for the FY24-FY29E period. The brokerage advises investors to SUBSCRIBE to the issue at the cut-off price. According to Sachin Jasuja, Founding partner and Head of Equities at Centricity, Scoda Tubes is a stainless-steel tubes and pipes manufacturer with 14+ years of experience, focused on seamless products backed by backward integration via an in-house hot piercing mill. It serves diverse industries like oil & gas, power, and pharma, both domestically and across 11 countries. One-third of revenue comes from exports, and ongoing global market uncertainty remains a key risk. The company offers job work services and holds quality certifications and approvals from major PSU and private clients. 'Financially, Scoda maintains decent metrics (ROE/ROCE ~13.5%, margins ~12%). However, growth has moderated in the last 9 months, and an earnings CAGR above 20% seems unlikely. Current valuations (implied P/E ~35–40) appear fair. Overall, Scoda presents a stable but moderately growing business with reasonable financial and expansion potential, though near-term upside may be capped without stronger demand visibility,' said Jasuja. Scoda Tubes IPO from the Gujarat-based company involves a complete fresh issue of equity shares totaling up to ₹ 220 crore, with no offer for sale (OFS) component included. The funds raised through this issue will primarily be allocated towards expanding the production capacity for seamless and welded tubes and pipes, meeting working capital needs, and addressing general corporate purposes. Monarch Networth Capital is serving as the book-running lead manager for this IPO. Scoda Tubes IPO GMP today is +22. This indicates Scoda Tubes share price is trading at a premium of ₹ 22 in the grey market, according to Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Scoda Tubes share price is indicated at ₹ 162 apiece, which is 15.71% higher than the IPO price of ₹ 140. According to the activities observed in the grey market over the last eight sessions, the IPO GMP is showing an upward trend today, indicating a solid listing is anticipated. The minimum GMP recorded is ₹ 16.00, and the maximum GMP is ₹ 22, as noted by experts at 'Grey market premium' indicates investors' readiness to pay more than the issue price.
