India-based stainless steel manufacturer Scoda Tubes Ltd, headquartered in Gujarat, is launching its Initial Public Offering (IPO) on May 28, 2025. The IPO, valued at ₹220 crore, has generated investor interest, with a grey market premium (GMP) of ₹22 suggesting a potential listing gain of nearly 15.7%. The issue is entirely a fresh issue of 1.57 crore equity shares and will remain open until May 30.
Scoda Tubes Ltd, a Gujarat-based stainless steel tubes and pipes manufacturer with over 14 years of industry experience, is all set to open its Initial Public Offering (IPO) on May 28, 2025. The company operates across sectors like oil and gas, power, chemicals, automotive, and railways, and has a global footprint including the US, Germany, and Italy.
The IPO, entirely a fresh issue of 1.57 crore equity shares, is priced in the range of ₹130 to ₹140 per share. Scoda Tubes aims to raise ₹220 crore through the offering, with the proceeds allocated toward expanding production capacity, meeting working capital needs, and general corporate purposes.
The IPO will remain open for subscription from May 28 to May 30, 2025. The minimum lot size for retail investors is 100 shares, requiring a minimum investment of ₹13,000.
Market watchers noted strong interest ahead of the opening, with the grey market premium (GMP) for Scoda Tubes shares at ₹22, implying a potential listing price of ₹162 and a listing gain of approximately 15.7%.
The anchor allotment is scheduled for May 27, while the final allotment is expected by June 2. The listing on both the BSE and NSE is tentatively set for June 4, 2025.
Key listed peers of Scoda Tubes include Ratnami Metals and Tubes, Venue Pipes, Welspun Specialty Solutions, and Suraj Limited. Monarch Networth Capital is the book-running lead manager (BRLM) for the issue, with MUFG Intime India Private Limited serving as the registrar.
