- Price band fixed at ₹130 to ₹140 per equity share of face value of ₹10 each
- Bid /Issue will open on Wednesday, May 28, 2025 and close on Friday, May 30, 2025
- The anchor investor bidding date shall be Tuesday, May 27, 2025
- Bids can be made for a minimum of 100 Equity Shares and in multiples thereof
NE BUSINESS BUREAU
AHMEDABAD, MAY 24
City-based Scoda Tubes Limited on Saturday announced it has fixed the price band for the initial public offer (IPO) at ₹130-140 per share. The company aims to raise ₹220 crore through the offering. The IPO will be open for bidding from Wednesday, May 28 to Friday, May 30. The anchor investor bidding date shall be Tuesday, May 27, 2025.
Bids can be made for a minimum of 100 Equity Shares and in multiples of 100 Equity Shares thereafter.
The total Issue size of Equity Shares with face value ₹10 each aggregating up to ₹220 crore comprises only fresh issue of Equity Shares.
Of the total offering, 50% is reserved for Qualified Institutional Buyers (QIBs), 35% for retail investors, and 15% for Non-Institutional Investors (NIIs).
The company proposes to utilize the net proceeds from the issue towards the following objects –(i) Capital expenditure towards expanding production capacity of seamless and welded tubes and pipes estimated to be ₹ 76.99 crore; (ii) Funding the part incremental working capital requirements of the company estimated to be ₹ 110 crore and general corporate purposes.
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 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.
This Equity Shares are proposed to be listed on the BSE Limited and the National Stock Exchange of India Limited.
Monarch Networth Capital Limited is the Book Running Lead Manager to the Issue.
