Scoda Tubes IPO is scheduled to open on Wednesday, May 28, and close on Friday, May 30. The details on allocation to anchor investors for Scoda Tubes IPO will be out Tuesday, May 27. Scoda Tubes IPO price band has been fixed in the range of ₹130 to 140 per equity share of face value of ₹10.
Scoda Tubes is a manufacturer of stainless-steel tubes and pipes, serving a wide array of clients including engineering, procurement, and construction (EPC) firms, as well as industrial companies in the oil and gas, chemicals, fertilizers, and power sectors.
The company markets its products under the brand name “Scoda Tubes Limited.” Their offerings are utilized by various customers, such as engineering firms, EPC contractors, and industries involved in oil and gas, chemicals, fertilizers, power, pharmaceuticals, automotive, railways, and transportation. Additionally, the company operates a hot piercing mill that produces mother hollows, which serve as the key raw material for their stainless-steel seamless products. At present, their hot piercing mill has an annual production capacity of 20,000 metric tons.
The company has a single manufacturing facility that is strategically situated on the Ahmedabad-Mehsana Highway in Rajpur, Kadi, Mehsana, Gujarat.
As per the red herring prospectus (RHP), the company’s listed peers are Ratnamani Metals & Tubes (with a P/E of 31.93), Venus Pipes & Tubes (with a P/E of 30.77), Welspun Specialty Solutions (with a P/E of 27.15), and Suraj (with a P/E of 34.79).
Scoda Tubes IPO GMP today
Scoda Tubes IPO GMP today is +18. This indicates Scoda Tubes share price was trading at a premium of ₹18 in the grey market, according to investorgain.com.
Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Scoda Tubes share price is indicated at ₹158 apiece, which is 12.86% higher than the IPO price of ₹140.
According to the grey market activities observed over the last four sessions, today’s IPO GMP is trending upwards and is anticipated to have a strong listing. The minimum GMP recorded is ₹16.00, whereas the maximum GMP is ₹18, as per the experts at investorgain.com.
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
Scoda Tubes IPO details
Scoda Tubes IPO consists solely of a new issuance of equity shares, totaling up to ₹220 crore, without any component for an offer for sale (OFS).
The funds raised from this issue will be allocated to increasing the production capacity for seamless and welded tubes and pipes, meeting working capital needs, and covering general corporate expenses.
Monarch Networth Capital Ltd serves as the book-running lead manager for the Scoda Tubes IPO, while MUFG Intime India Private Limited (Link Intime) is designated as the registrar for the offering.
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