Scoda Tubes shares in Wednesday’s trade saw muted listing in a range bound market. On both the exchanges, the stock listed at par at Rs 140 per share.
The subscription for the public issue opened between May 28- May 30, 2025 and on the whole the issue received a whopping 57.37 times oversubscription.
Zee Business Managing Editor Anil Singhvi held that the listed turned out to be very weak considering the oversubcription.
Issue details
The complete fresh issue worth Rs 220 crore received phenomenal demand across categories, with Qualified institutional buyers (QIBs) leaiding with 72.97 times subscription, while high-net-worth individuals (HNIs) and retail investors followed with 121.72 times and 20.89 times, respectively.
Scoda Tubes: Anchor investors and IPO details
Before starting its share sale on Tuesday, Scoda Tubes raised Rs 66 crore from anchor investors, showing strong confidence in the company.
The IPO price band is set between Rs 130 and Rs 140 per share. Monarch Networth Capital has been appointed as the book running lead manager (BRLM) for the issue. It is a fresh equity issue worth Rs 220 crore, meaning the company is raising new funds and is not including any offer-for-sale (OFS) shares.
Issue objectives
Capital expenditure towards expanding the production capacity of seamless and welded tubes and pipes
Funding the part incremental working capital requirements of the company
General corporate purposes
About Scoda Tubes
Scoda Tubes was incorporated on November 10, 2008. The company is a stainless-steel tubes and pipes manufacturer with over 14 years of experience. It offers seamless and welded products across five lines, serving diverse sectors such as oil and gas, chemicals, power, pharmaceuticals, automotive, and transportation. Additionally, it operates a hot piercing mill to produce mother hollow, the principal raw material for its stainless-steel seamless products.
