Scoda Tubes IPO: The initial public offering (IPO) of Scoda Tubes, a stainless-steel tubes and pipes maker, has been subscribed to 8.11 times so far on the second day of the bidding process on Thursday, May 29.
Category-wise subscription status
On Thursday, an overall subscription is at 9,61,29,600 shares against 1,18,46,169 shares on offer, according to the BSE data.
The Qualified Institutional Buyers (QIBs) have applied a bid for 65,46,000 shares against 33,84,569 shares, while the retial investors’ potion fetched 6.46 times subscription or 3,82,84,100 shares against 59,23,100 shares.
Anchor investors
On Tuesday, ahead of its share sale, the company raised Rs 66 crore from anchor investors.
Scoda Tubes IPO: Price band, BRMLs, registrar, important dates, other details
The company has fixed the price band for the IPO between Rs 130 and Rs 140 per share.
BRLM
Monarch Networth Capital has been appointed as the book running lead manager (BRLM) for the issue.
The IPO comprises a fresh issue of equity shares amounting to Rs 220 crore, which means the offering does not include any offer for sale (OFS) component.
Utilisation of IPO proceeds
The proceeds from the issue will be allocated towards the expansion of production capacity for seamless and welded tubes and pipes, meeting working capital requirements, and addressing general corporate purposes.
What does Scoda Tubes do?
Scoda Tubes is a manufacturer specialising in stainless steel tubes and pipes. It serves a broad spectrum of clients, including engineering, procurement, and construction (EPC) firms, as well as industrial enterprises operating in sectors such as oil and gas, chemicals, fertilisers, and power.
