Scoda Tubes Lists At Par, Then Hits Upper Circuit
By Ankur Chandra | Updated at: Jun 4, 2025 03:23 PM IST
Mumbai | June 4, 2025 – Scoda Tubes Ltd made a strong debut on the National Stock Exchange (NSE) today, listing at ₹140 per share and swiftly climbing to ₹144.90, marking a 3.5% intraday gain shortly after the market opened. The stock also touched its upper circuit limit of ₹147.00 within minutes of listing, reflecting robust investor sentiment following its ₹2,200 million IPO.
This marks the first day of public trading for the Gujarat-based stainless steel tube manufacturer after closing its book-built issue on May 30, 2025. Scoda Tubes, with over 14 years of operational history, operates a backward-integrated production facility, including a 20,000 MTPA hot piercing mill that strengthens its control over costs and supply chain.
Listing Day Performance Snapshot
| Metric | Value |
|---|---|
| Listing Date | June 4, 2025 |
| Issue Size | ₹2,200 million |
| Face Value | ₹10 |
| Listing Price | ₹140.00 |
| Last Traded Price | ₹144.90 |
| % Change | +3.50% |
| Intraday High / Low | ₹147.00 / ₹135.10 |
| Traded Volume | 36.32 lakh shares |
| Traded Value | ₹51.69 crore |
| Market Capitalisation | ₹868.68 crore |
| Price Band | ₹133.00 – ₹147.00 |
| VWAP | ₹142.34 |
Scoda Tubes IPO Sees Massive Oversubscription, Driven by Strong Demand Across Investor Categories
As of May 30, 2025, Scoda Tubes IPO witnessed a total oversubscription of 53.78 times, according to NSE data. The subscription details by category are as follows:
- Qualified Institutional Buyers (QIBs): 69.51x
- Retail Individual Investors (RIIs): 19.4x
- Non-Institutional Investors (NIIs): 113.03x
- Others: 0x
The IPO offered a total of 15,714,286 shares, with allocations reserved as:
- QIBs: 3,142,857 shares (20%)
- NIIs: 2,357,143 shares (15%)
- RIIs: 5,500,000 shares (35%)
- Others: 30%
IPO Details and Fund Utilisation
The IPO was a 100% fresh issue, with no offer for sale (OFS) component. Ahead of the IPO, Scoda Tubes had raised ₹550 million through a Pre-IPO Placement to Malabar India Fund and Carnelian Bharat Amritkaal Fund at ₹125 per share.
Planned Use of Net Proceeds:
| Purpose | Amount (₹ Mn) |
|---|---|
| Expansion of seamless and welded tube production | 769.90 |
| Incremental working capital | 1,100.00 |
| General corporate purposes (incl. Pre-IPO deployment) | Remaining |
A portion of these funds has already been deployed, including ₹279.94 million toward capex as per statutory auditor certification.
Financial Overview (₹ in million)
| Metric | Dec 31, 2024 | FY24 | FY23 | FY22 |
|---|---|---|---|---|
| Revenue from Operations | 3,611.71 | 3,998.61 | 3,051.28 | 1,940.28 |
| PAT | 249.14 | 183.00 | 103.36 | 16.36 |
| EPS (₹) | 6.08 | 4.60 | 2.60 | 0.72 |
| Net Worth | 1,435.46 | 636.12 | 453.11 | 349.78 |
| Total Borrowings | 2,021.64 | 2,026.63 | 1,393.08 | 1,098.95 |
About Scoda Tubes Ltd
Founded in 2008, Scoda Tubes Ltd manufactures stainless steel seamless and welded tubes and pipes, serving critical sectors such as oil & gas, power, chemicals, pharmaceuticals, and transport. The company’s advanced facility in Gujarat supports backward integration through its hot piercing mill, enhancing operational efficiency and ensuring raw material consistency.
Scoda Tubes Posts Strong Financial Growth in FY24 with 77% Rise in Net Profit
Scoda Tubes recorded a remarkable financial performance in the fiscal year 2024, with revenue increasing to ₹402.49 crore, driven by robust demand from its core industries. The company’s net profit surged to ₹18.3 crore, representing a significant 77% increase compared to the previous year. This growth underscores Scoda Tubes’ operational strength and solid financial momentum ahead of its IPO.
Market Outlook
The positive debut of Scoda Tubes signals strong investor confidence, buoyed by the company’s solid financial growth and strategic expansion plans. With the stock hitting its upper circuit on Day 1 and high trading volumes, attention will now shift to how well the company delivers on its projected growth and capital utilisation in upcoming quarters.
REF: https://www.nseindia.com/get-quotes/equity?symbol=SCODATUBES
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