Scoda Tubes IPO Day 3: Check GMP today , Price Band, Lot size and other details

The initial public offering (IPO) of Scoda Tubes Limited is set to close today and has seen robust investor participation across the board. The third and final day of bidding reflects strong demand, with the issue being oversubscribed multiple times by institutional and retail investors alike.

Scoda Tubes IPO: GMP

Investor confidence in the offering is also reflected in the grey market, where shares of Scoda Tubes are commanding a premium of Rs 22 per share. Based on this, the estimated listing price stands at Rs 162 — nearly 15.71% higher than the upper end of the price band, signaling strong expectations of a positive debut.

Also Read: Scoda Tubes IPO Day 2: Check GMP Today, Date, Price Band, Lot Size, And Important Details | Republic World

Scoda Tubes IPO: Market Response

By mid-morning on Day 3, the IPO had received bids for more than 13.87 crore shares against the 1.18 crore shares on offer, translating to an overall subscription of 11.72 times. Retail investors subscribed 8.55 times their allotted quota, while the portion reserved for non-institutional investors (NIIs) was subscribed 32.05 times. Qualified institutional buyers (QIBs) also showed steady interest, bidding 2.01 times their allocation.

Scoda Tubes IPO: Price Band 

Priced in a band of Rs 130 to Rs 140 per equity share, the Scoda Tubes IPO aims to raise Rs 220 crore through a fresh issue of shares. Investors are required to bid in lots of 100 shares. 

Scoda Tubes IPO: Usage of Proceeds

The company revealed that the proceeds from the IPO will primarily be used to fund capital expenditure of Rs 77 crore aimed at expanding the company’s manufacturing capacity. An additional Rs 110 crore has been earmarked to meet incremental working capital requirements, with the remainder allocated toward general corporate purposes.

Scoda Tubes IPO: Listing Date 

The issue opened on May 28 and will close on May 30, with the company expected to list on both the BSE and NSE on June 4. The issue is being managed by Monarch Networth Capital, with MUFG Intime India Private Limited acting as the registrar.

About the company 

Founded in 2008, Scoda Tubes is a Gujarat-based manufacturer of stainless steel seamless and welded pipes. Its manufacturing facility is located in Mehsana, and the company serves a diverse client base across industries such as oil and gas, power, chemicals, fertilizers, pharmaceuticals, automotive, and transportation. The firm also has a notable global footprint, with exports contributing over 28% to its revenue in the first nine months of FY25.