Scoda Tubes IPO listing date has been scheduled for tomorrow (Wednesday, June 4). Scoda Tubes IPO allotment was finalised yesterday (Monday, June 2). For those who have been allocated shares, the crediting of shares to demat accounts will occur today, Tuesday, June 3. The process of refunding those who have not yet received their shares will likewise be finished today.
The initial public offer of stainless-steel tubes and pipes manufacturer Scoda Tubes opened on Wednesday, May 28, and ended on Friday, May 30. By the conclusion of the bidding period, the offering received a healthy response, particularly from non-institutional investors (NIIs) who subscribed 113.03 times, followed by qualified institutional buyers (QIBs) at 69.51 times. Retail investors showed a subscription rate of 19.39 times. Notably, on the third day of the IPO, the Scoda Tubes IPO subscription status stood at 53.78 times.
Scoda Tubes specializes in the production of stainless-steel tubes and pipes, serving a wide array of clients, including EPC and industrial firms involved in sectors such as oil and gas, chemicals, fertilizers, and power. Scoda Tubes IPO price band was set between ₹130 and ₹140 per share. The company secured ₹66 crore from its anchor investors.
Scoda Tubes IPO GMP today
Let’s check what does Scoda Tubes IPO GMP today signal ahead of listing.
Scoda Tubes IPO GMP today is +18.5. This indicates Scoda Tubes share price is trading at a premium of ₹18.5 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 ₹158.5 apiece, which is 13.21% higher than the IPO price of ₹140.
According to the grey market trends from the past 12 sessions, the current GMP ( ₹18.5) indicates a downward movement. The lowest GMP recorded is ₹16.00, whereas the highest is ₹22, 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 offer for sale (OFS) element.
The funds raised from this issue will be allocated towards increasing the production capacity of seamless and welded tubes and pipes, meeting working capital needs, and for general corporate purposes.
Monarch Networth Capital serves as the lead manager for the IPO’s book-running process.
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