Scoda Tubes IPO: The preliminary public providing (IPO) of Scoda Tubes, a stainless-steel tubes and pipes maker, has been subscribed to 29.20 occasions to this point on the second day of the bidding course of on Thursday, Could 29.
On the final depend (11:54 am), total subscription is at 32,70,56,956 shares towards 1,12,00,000 shares on provide, in keeping with the BSE knowledge.
Class-wise subscription standing
The Certified Institutional Patrons (QIBs) have utilized a bid for 1,32,38,518 shares towards 32,00,000 shares, whereas the retial buyers’ potion fetched 21.61 subscriptions or 12,10,27,452 shares towards 56,00,000 shares.
Anchor buyers
On Tuesday, forward of its share sale, the corporate raised Rs 66 crore from anchor buyers.
Scoda Tubes IPO: Worth band, BRMLs, registrar, vital dates, different particulars
The corporate has mounted the value band for the IPO between Rs 130 and Rs 140 per share.
BRLM
Monarch Networth Capital has been appointed because the e-book operating lead supervisor (BRLM) for the problem.
The IPO contains a contemporary problem of fairness shares amounting to Rs 220 crore, which implies the providing doesn’t embrace any provide on the market (OFS) part.
Utilisation of IPO proceeds
The proceeds from the problem shall be allotted in the direction of the growth of manufacturing capability for seamless and welded tubes and pipes, assembly working capital necessities, and addressing normal company functions.
What does Scoda Tubes do?
Scoda Tubes is a producer specialising in stainless-steel tubes and pipes. It serves a broad spectrum of purchasers, together with engineering, procurement, and building (EPC) companies, in addition to industrial enterprises working in sectors similar to oil and gasoline, chemical compounds, fertilisers, and energy.
