Scoda Tubes IPO Subscribed 2 Times on Opening Day; Retail Bids at 2.03x
By HDFC SKY | Updated at: May 31, 2025 07:30 PM IST
Mumbai, May 28, 2025 — The initial public offering (IPO) of Scoda Tubes Limited, a Gujarat-based manufacturer of stainless steel tubes and pipes, saw a strong start on Day 1, with an overall subscription of 2.00 times the offer size.
IPO Snapshot
| Detail | Info |
|---|---|
| Issue Opens | May 28, 2025 |
| Issue Closes | May 30, 2025 |
| Price Band | ₹130 – ₹140 per share |
| Issue Size | ₹220 crore (Fresh Issue only) |
| Listing Exchange | NSE & BSE Mainboard |
| Lot Size | 100 shares |
| Allotment Date | [To be announced] |
| Listing Date | [To be announced] |
Subscription Status (Day 1)
As per consolidated data from NSE:
- Total Bids: 2,36,66,200 for 1,18,46,169 shares
- Overall Subscription: 2.00x
- Retail Investors: 2.03x
- QIBs: 1.40x
- NIIs: 2.71x
- HNIs (above ₹10 lakh): 2.48x
- Others (₹2–10 lakh): 3.18x
Price Point Demand
There was notable demand at the higher end of the price band:
- At ₹140: 1,69,12,600 shares bid
- At Cut-off Price: 63,42,100 shares
Company Overview
Established in 2008, Scoda Tubes Limited manufactures both seamless and welded stainless steel pipes for various sectors, including oil and gas, power, chemicals, and transportation. It operates a fully integrated manufacturing plant in Gujarat, which includes an in-house hot piercing mill for seamless production.
FY24 Financial Highlights
- Revenue: ₹3,998.61 million
- Profit After Tax: ₹183 million
- EBITDA Margin: 14.70%
- Return on Equity (ROE): 28.77%
- Total Borrowings: ₹2,026.63 million
Key Stakeholders
- Lead Manager: Monarch Networth Capital Limited
- Registrar: Link Intime India Pvt Ltd (Email: scodatubes.ipo@linkintime.co.in)
Investor Insights
Strong interest from the retail and HNI segments indicates positive sentiment. However, concerns noted in the Draft Red Herring Prospectus include high dependency on a few key clients and a working capital-intensive business model. Final QIB participation and market sentiment will be crucial for listing gains.
Disclaimer: This content is only for informational purpose. It does not make any recommendation to act or invest. Please read the offer documents carefully before investing. Investments are subject to market risks and other risks. There is no guarantee of the actual returns that will be given.
