Mumbai: Scoda Tubes Limited, a leading manufacturer of seamless and welded tubes and pipes, has announced the price band for its ₹220 crore Initial Public Offering (IPO) at ₹130 to ₹140 per equity share.
The IPO will open for public subscription on Wednesday, May 28, 2025, and will close on Friday, May 30, 2025.
With a face value of ₹10 per share, the floor price is 13x and the cap price is 14x the face value. Investors can bid for a minimum of 100 equity shares and in multiples thereof. The Anchor Investor bidding will take place on Tuesday, May 27, 2025.
The Scoda Tubes IPO comprises a fresh issue only, with total proceeds aimed at:
- Expanding production capacity for seamless and welded tubes (₹76.99 crore)
- Funding incremental working capital requirements (₹110 crore)
General corporate purposes
The equity shares will be listed on both BSE and NSE, with NSE as the designated stock exchange. The issue is being made under Regulation 6(1) of the SEBI ICDR Regulations through the Book Building Process, and Monarch Networth Capital Ltd is acting as the Book Running Lead Manager (BRLM).
Structured Allocation for Investors
- QIBs: Not more than 50% of the issue, with up to 60% reserved for anchor investors.
- Non-Institutional Bidders: Not less than 15% of the issue.
- Retail Individual Bidders: Not less than 35% of the issue.
All investors, except anchor investors, must participate through the ASBA (Application Supported by Blocked Amount) process using UPI or designated bank accounts.
This IPO marks a significant milestone for Scoda Tubes, as it looks to scale operations and meet growing demand across industrial sectors with enhanced production capabilities and improved liquidity.
For more details, investors can access the Red Herring Prospectus (RHP) here.
