Scoda Tubes IPO Day 2 update: Check subscription status, GMP, key dates

Scoda Tubes IPO subscription status Day 2: Among the individual categories, NIIs led the demand by subscribing to the portion reserved for them by 10.54 times

Scoda Tubes IPO Day 2 subscription status: Scoda Tubes' initial public offering (IPO), which opened for subscription on Wednesday, May 28, 2025, has received a decent response from investors so far. The NSE data shows that the ₹220 crore offering of Scoda Tubes received bids for 5,05,65,400 shares, against 1,18,46,169 shares on offer, resulting in an oversubscription of only 5.06 times by 1:30 PM on Thursday, May 29.

 

Among the individual categories, non-institutional investors (NIIs) led the demand by subscribing to the portion reserved for them by 10.54 times. This was followed by retail investors, who bid for 4.55 times the reserved quota, and the qualified institutional buyers (QIBs) portion was subscribed by 1.85 times. 

Scoda Tubes IPO GMP

According to sources tracking unofficial markets, the unlisted shares of Scoda Tubes were trading at ₹162, commanding a GMP of ₹22 or 15.7 per cent against the upper band price of ₹140, on Thursday, in the grey market.

Scoda Tubes IPO details

The company plans to raise ₹220 crore through a fresh issue of 15.7 million equity shares. There is no offer-for-sale (OFS) component. The mainline IPO will close for subscription on Friday, May 30, 2025. The basis of the allotment of shares is expected to be finalised on or before Monday, June 2, 2025. Shares of Scoda Tubes are scheduled to be listed on both exchanges, NSE and BSE, tentatively on Wednesday, June 4, 2025.

 

The company has set the price band in the range of ₹130 to ₹140 per equity share. Retail investors can bid for a minimum of one lot consisting of 100 shares with an investment amount of ₹13,000.

 

MUFG Intime India, formerly Link Intime, is the issue registrar. Monarch Networth Capital is the sole book-running lead manager for the issue. 

 

According to the red herring prospectus (RHP), from the net issue proceeds, the company aims to utilise ₹76.99 crore for capital expenditure towards expanding production capacity of seamless and welded tubes and pipes, and ₹110 crore to partially fund incremental working capital requirements of the company. The remaining funds will be utilised for general corporate purposes.

About Scoda Tubes

Scoda Tubes is a stainless-steel tubes and pipes manufacturer based in India. The company's products are broadly categorised into seamless tubes and welded tubes or pipes. Its products are widely used by a diverse range of customers like engineering companies, EPC and industrial companies engaged in Oil and Gas, Chemicals, Fertilisers, Power, Pharmaceuticals, Automotive, Railways and Transportation sectors. It also operates a hot piercing mill for the production of mother hollow, which is the principal raw material for stainless-steel seamless products. Scoda Tubes' manufacturing plant is located at Ahmedabad-Mehsana Highway, Rajpur, Kadi, Mehsana, Gujarat in close proximity of around 30 kilometres from the Mundra port.