Latest news with #ScodaTubesLimited
Time of India
6 days ago
- Business
- Time of India
Scoda Tubes shares list flat at Rs 140 on NSE, BSE
Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Shares of Scoda Tubes Limited made a flat market debut on Wednesday, June 4. The stock listed at Rs 140 apiece on both the BSE and NSE, offering no gains over its IPO price despite a strong response to the company saw a strong investor interest in its Rs 220 crore initial public offering (IPO). The IPO, which was entirely a fresh issue of 1.57 crore equity shares, received an overwhelming response from investors, with the offer being subscribed 57.37 times to market observers, the grey market premium (GMP) for Scoda Tubes IPO stood at Rs 20 just ahead of the listing. With the IPO's cap price set at Rs 140, the estimated listing price was expected to be around Rs 160 per share, implying a likely listing gain of 14.29%. However, the stock failed to live up to the unlisted market GMP is not always a guaranteed predictor of listing performance, it does offer a glimpse into investor sentiment. In this case, the positive premium suggests modest gains on listing day, especially considering the strong subscription retail portion was subscribed 20.89 times, the qualified institutional buyers (QIBs) bid 72.97 times, and non-institutional investors (NIIs) led the charge with 121.72 times the broader market conditions may influence listing day volatility, investors are keenly watching Scoda Tubes' debut, anticipating a steady start backed by fundamentals and market Tubes, incorporated in 2008, manufactures a diverse range of stainless steel tubes and pipes, including seamless and welded variants. The company serves critical sectors such as oil and gas, chemicals, fertilizers, power, and pharmaceuticals. Its products are exported to 16 countries and sold across India through a network of stockists and proceeds from the IPO will be used to expand the company's production capacity and fund working capital needs. Scoda Tubes is also investing in modernizing its manufacturing facility in Gujarat to meet rising demand for quality stainless steel products both domestically and a strong order book and healthy margins, the company reported a net profit of Rs 24.91 crore for the nine months ended December 2024, up from Rs 18.30 crore in FY24. Its strong return ratios and high promoter holding have further boosted investor confidence.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
Mint
28-05-2025
- Business
- Mint
Scoda Tubes IPO Day 1 Live: GMP, review to subscription status. Good or bad for investors?
Scoda Tubes IPO: The initial public offering (IPO) of Scoda Tubes Limited hit the Indian primary market today. The public issue will remain open until 30 May 2025. Scoda Tubes IPO will remain open from Wednesday to Friday this week. The company has fixed the Scoda Tubes IPO price band at ₹ 130 to ₹ 140 per equity share. The public issue aims to raise ₹ 220 crore by issuing fresh shares, which is proposed for listing on the BSE and the NSE. Ahead of the Scoda Tubes IPO subscription opening, shares of the company are trading at a premium of ₹ 23 per equity share in the grey market today. 1] Scoda Tubes IPO GMP: Company shares are trading at a premium of ₹ 23 in the grey market today. 2] Scoda Tubes IPO price: The company has fixed price band of the public issue at ₹ 130 to ₹ 140 per equity share. 3] Scoda Tubes IPO subscription date: The public issue has opened today and will remain open until 30 May 2025. 4] Scoda Tubes IPO size: The company aims to raise ₹ 220 crore from its initial public offerings. 5] Scoda Tubes IPO lot size: Bidders can apply in lots, and one lot comprises 100 company shares. 6] Scoda Tubes IPO allotment date: The most likely date for finalization of share allocation is 31 May 2025. In case of any delay, as 31 May is Saturday, applicants can expect share allotment on Monday next week. 7] Scoda Tubes IPO registrar: MUFG Intime India Private Limited or Link Intime India Private Limited has been appointed official registrar of the book build issue. 8] Scoda Tubes IPO investment limit: A retail bidder can apply for a minimum of one lot and a maximum of 14 lots. So, one would require at least ₹ 14,000 ( ₹ 140 x 100) to apply for the public issue, whereas one can pump a maximum of ₹ 1,96,000 [14 x ( ₹ 140 x 100)] into this initial offer. 9] Scoda Tubes IPO listing date: The most likely date for the share listing is 4 June 2025, which is Wednesday next week. 10] Scoda Tubes IPO review: Assigning a 'subscribe' tag to the book build issue, Canara Bank Securities said, "Scoda Tubes Limited's technical specialization, backward integration, and global certification profile support its position as a long-term player in the precision stainless-steel manufacturing space. Rising export contributions, high-margin seamless product focus, and alignment with industrial and infrastructure growth trends bolster its long-term scalability. At the upper price band of ₹ 140, Scoda is valued at a P/E of 30.43x and a P/B of 8.76x on FY24 basis, reasonably in line with industry peers (~31.96x P/E and ~9.56x P/B). While concerns around cash flow efficiency and dependency on key distributors remain, its consistent profitability, asset-backed expansion, and sector tailwinds make it attractive. We recommend SUBSCRIBE for long-term investors seeking exposure to India's precision engineering and export-oriented manufacturing ecosystem." SBI Capital Securities has also assigned an 'apply' tag to the public issue, saying, 'The company is valued at 9MFY25 annualized P/E and EV/EBITDA multiple of 21.8x/9.6x at post-issue capital of upper price band respectively. The company's Revenue/EBITDA/PAT achieved a CAGR of 44%/143%/235% to ₹ 400 cr/ ₹ 59 cr/ ₹ 18 cr during FY22-FY24. The industry forecast indicates healthy growth for the Indian SS pipes and tubes, which is projected to expand at a CAGR of 6% - 8% for the FY24-FY29E period. We recommend the investors to SUBSCRIBE to the issue at the cut-off price.' Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
Mint
23-05-2025
- Business
- Mint
Scoda Tubes IPO: Price band declared at ₹130 to ₹140; GMP, date, other details you should know
Scoda Tubes IPO: The price band for the initial public offer (IPO) of Scoda Tubes has been set at ₹ 130-140 per share. The company aims to raise ₹ 275 crore through the offering. The IPO will be open for bidding from Wednesday, May 28 to Friday, May 30. Of the total offering, 50% is reserved for Qualified Institutional Buyers (QIBs), 35% for Retail Investors, and 15% for Non-Institutional Investors (NIIs). Gujarat-based Scoda Tubes is entirely a fresh issue of equity shares aggregating up to ₹ 275 crore. Regarding the IPO proceeds, up to ₹ 105 crore will be used for capital expenditures to expand the production capacity of seamless tubes and pipes by 10,000 million tonnes per annum and welded tubes and pipes by 12,130 MTPA. ₹ 110 crore will be used for incremental working capital requirements. The remaining funds will be used for general corporate purposes. Meanwhile, the GMP of the Scoda Tubes IPO, as per the market sources, on Friday was 0. Scoda Tubes Limited is an Indian manufacturer of stainless-steel tubes and pipes, catering to both domestic and international markets. Its product range includes seamless and welded tubes and pipes, polished tubes, stainless steel seamless and welded U-tubes, as well as instrumentation tubes. The company serves a wide array of industries, such as oil and gas, chemicals, fertilizers, pharmaceuticals, power, automobiles, EPC, and railways. In the domestic market, Scoda Tubes distributes its products primarily through a network of stockists, while in international markets like Italy, Germany, Austria, and Eastern Europe, it operates through both direct sales and international stockists. Scoda Tubes aims to grow by expanding its reach and strengthening its distribution network. However, investors should be aware of key risks such as high dependence on a few major customers and stockists, which exposes the company to concentration risk. Additionally, the business operates in a competitive and cyclical industry that is sensitive to raw material price fluctuations and global economic conditions. Any disruption in its supply chain or decline in demand from key sectors could significantly impact its performance. Scoda Tubes has recorded profit of ₹ 24.9 crore on revenue of ₹ 361.2 crore for the nine months period ended December 2024. Profit for the fiscal 2024 grew by 77 per cent to ₹ 18.3 crore and revenue increased by 31 per cent to ₹ 400 crore compared to previous financial year.
Mint
23-05-2025
- Business
- Mint
Scoda Tubes IPO: Price band declared at ₹130 to ₹140; GMP, date, other details you should know
Scoda Tubes IPO: The price band for the initial public offer (IPO) of Scoda Tubes has been set at ₹ 130-140 per share. The company aims to raise ₹ 275 crore through the offering. The IPO will be open for bidding from Wednesday, May 28 to Friday, May 30. Of the total offering, 50% is reserved for Qualified Institutional Buyers (QIBs), 35% for Retail Investors, and 15% for Non-Institutional Investors (NIIs). Gujarat-based Scoda Tubes is entirely a fresh issue of equity shares aggregating up to ₹ 275 crore. Regarding the IPO proceeds, up to ₹ 105 crore will be used for capital expenditures to expand the production capacity of seamless tubes and pipes by 10,000 million tonnes per annum and welded tubes and pipes by 12,130 MTPA. ₹ 110 crore will be used for incremental working capital requirements. The remaining funds will be used for general corporate purposes. Meanwhile, the GMP of the Scoda Tubes IPO, as per the market sources, on Friday was 0. Scoda Tubes Limited is an Indian manufacturer of stainless-steel tubes and pipes, catering to both domestic and international markets. Its product range includes seamless and welded tubes and pipes, polished tubes, stainless steel seamless and welded U-tubes, as well as instrumentation tubes. The company serves a wide array of industries, such as oil and gas, chemicals, fertilizers, pharmaceuticals, power, automobiles, EPC, and railways. In the domestic market, Scoda Tubes distributes its products primarily through a network of stockists, while in international markets like Italy, Germany, Austria, and Eastern Europe, it operates through both direct sales and international stockists. Scoda Tubes aims to grow by expanding its reach and strengthening its distribution network. However, investors should be aware of key risks such as high dependence on a few major customers and stockists, which exposes the company to concentration risk. Additionally, the business operates in a competitive and cyclical industry that is sensitive to raw material price fluctuations and global economic conditions. Any disruption in its supply chain or decline in demand from key sectors could significantly impact its performance. Scoda Tubes has recorded profit of ₹ 24.9 crore on revenue of ₹ 361.2 crore for the nine months period ended December 2024. Profit for the fiscal 2024 grew by 77 per cent to ₹ 18.3 crore and revenue increased by 31 per cent to ₹ 400 crore compared to previous financial year. Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before taking any investment decisions.
