Scoda Tubes IPO Day 2: Check GMP Today, Date, Price Band, Lot Size, And Important Details

The Initial Public Offering (IPO) of Scoda Tubes Limited has opened to an enthusiastic response from investors, with robust subscription figures and encouraging signals from the grey market suggesting a healthy listing on the bourses next week.

Scoda Tubes IPO: Price band 

The IPO, which opened for subscription on May 28 and will close on May 30, is looking to raise Rs 220 crore through a fresh issue of equity shares. The price band has been fixed at Rs130 to Rs 140 per share, with a minimum application lot of 100 shares requiring an investment of Rs 14,000.

Also Read: Scoda Tubes IPO: Know GMP, Listing Price, Price band, Lot Size and Key Details | Republic World

Scoda Tubes IPO: GMP 

Market participants tracking unlisted space trends noted that Scoda Tubes is commanding a grey market premium (GMP) of Rs 22 per share over the upper price band, as per market watchers This puts the indicative listing price in the range of Rs 162, hinting at a potential listing gain of 15.71%—a strong showing for a small- to mid-sized public issue.

Scoda Tubes IPO: Market response 

By the morning of the second day, the issue had already been subscribed 3.43 times overall. The Non-Institutional Investors (NII) category led the charge with 4.51 times subscription, followed by retail investors at 3.54 times and Qualified Institutional Buyers (QIBs) at 1.43 times.

Scoda Tubes IPO: Usage of proceeds

Scoda Tubes had earlier revealed that the proceeds from the IPO will be deployed primarily to enhance production capabilities for its range of seamless and welded tubes, to meet working capital requirements, and for general corporate purposes. The company, known for its presence in the industrial and infrastructure segments, is eyeing capacity expansions to capture a larger share of domestic and international markets.

Scoda Tubes IPO: Listing, allotment and other details

The shares of Scoda Tubes are scheduled to be listed on both the NSE and BSE on June 4. Final allotments are expected to be announced on June 2, with demat credits likely by June 3.

About the company

Founded in 2008, Scoda Tubes operates a manufacturing facility in Mehsana, Gujarat, and specializes in stainless steel seamless and welded pipes. Its products are used across diverse sectors including oil and gas, power generation, chemicals, fertilizers, pharmaceuticals, and even the transportation and automotive industries. The company claimed that its facility has a production capacity of approximately 20,000 metric tons annually, which the company plans to scale up with the help of proceeds from the IPO.