Scoda Tubes Limited, a Gujarat, India-based stainless-steel pipe and tube manufacturer, launched its ₹220 crore IPO on May 28, 2025. The public offering, priced at ₹130–₹140 per share, is already subscribed 1.29 times by mid-day. The IPO closes on May 30, with listing expected on June 4. Backed by strong growth, technical strength, and expert recommendations, the IPO holds long-term potential.
Scoda Tubes Limited, a Gujarat-based manufacturer of precision stainless-steel pipes and tubes, launched its ₹220 crore initial public offering (IPO) today, aiming for listing on both the BSE and NSE. The IPO, which opened on May 28 and will close on May 30, has already seen robust demand from investors.
Founded with a focus on seamless and welded stainless steel products, Scoda Tubes caters to the infrastructure, automotive, and engineering sectors. With backward integration, international certifications, and export-driven operations, the company is positioning itself as a key player in the high-margin, precision-engineering space.
By 1:27 PM on May 28, the IPO was subscribed 1.29 times overall. The retail portion was booked 1.27 times, while non-institutional investors (NII) and qualified institutional buyers (QIB) subscribed 1.23 and 1.37 times respectively.
The IPO is priced between ₹130 and ₹140 per equity share, with a minimum lot size of 100 shares. A retail investor can invest between ₹14,000 to ₹1,96,000 depending on the number of lots. The company plans to use the proceeds for business expansion and working capital requirements. The share allotment is expected to be finalized on May 31, with listing slated for June 4.
According to the grey market, the shares are currently trading at a premium of ₹23, indicating positive investor sentiment.
Brokerages are optimistic. Canara Bank Securities has assigned a ‘Subscribe’ rating, highlighting Scoda Tubes’ consistent profitability and sector alignment. SBI Capital Markets echoed the sentiment, citing healthy industry growth forecasts and solid financial performance with a 44% CAGR in revenue over FY22–FY24.
Link Intime India Pvt. Ltd. has been appointed as the registrar for the issue.
With strong fundamentals and a favorable outlook, experts suggest this IPO may be a solid bet for long-term investors interested in India’s growing precision engineering and export manufacturing segment.
