Ahmedabad-based company Scoda Tubes is launching its ₹220 crore IPO, which will open for public subscription on May 28 and close on May 30.
Anchor investors can place their bids a day earlier, on May 27.
Scoda Tubes manufactures stainless steel tubes and pipes, supplying to several industries including engineering, oil and gas, chemicals, fertilizers, power, pharmaceuticals, automotive, railways, and transport.
IPO Details
Scoda Tubes’ IPO will include only fresh equity shares. There will be no offer for sale, meaning the entire amount raised will go directly to the company.
The allotment of shares will be finalized on June 2, and listing will take place on the BSE and NSE on June 4.
This IPO will be the fourth mainboard IPO opening that week, after Prostarm Info Systems, Aegis Vopak Terminals, and Schloss Bangalore (Leela Hotels).
Use of IPO Funds
Scoda Tubes plans to use:
₹77 crore to expand its manufacturing capacity for seamless and welded tubes and pipes,
₹110 crore to meet working capital needs, and
The remaining funds for general corporate purposes.
IPO Reservation and Lead Manager
The IPO is reserved as follows:
50% for Qualified Institutional Buyers (QIBs),
35% for retail investors, and
15% for non-institutional investors (NIIs).
Monarch Networth Capital is the merchant banker managing this issue.
Financial Performance of Scoda Tubes
From April to December 2024, Scoda Tubes earned ₹361.2 crore in revenue and made a profit of ₹24.9 crore.
For the full year FY 2023-24, the company’s profit increased by 77% to ₹18.3 crore, and revenue grew by 31% to ₹400 crore.
Earlier, on October 21, 2024, Scoda Tubes raised ₹55 crore through a pre-IPO placement of 44 lakh equity shares at the IPO price of ₹125 per share.
Investors included Malabar India Fund and Carnelian Bharat Amrutakal Fund.
