Scoda Tubes Share Price Surges 5% on Market Debut Despite Flat Listing

Market Performance Snapshot

• Listing price: ₹140 (NSE & BSE)
• Day's high: ₹147 (5% upper circuit)
• Current market cap: ₹880.66 Crore
• IPO price band: ₹130-140 per share

IPO Receives Overwhelming Response

Scoda Tubes' maiden public offering witnessed exceptional investor interest:

• IPO size: ₹220 Crore
• Total subscription: 54 times
• Shares bid for 63.70 Crore

Company Fundamentals

The stainless steel manufacturer stands out with the following:

• Specialization in tube and pipe production
• Backward-integrated manufacturing model
• Reduced third-party supplier dependence
• Enhanced cost efficiency

Utilization of IPO Proceeds

Funds will be allocated towards:

• Capacity expansion for seamless/welded tubes
• Working capital requirements
• General corporate purposes

Key Takeaways

• The stock gained 5% despite the flat debut
• Record 54x subscription shows strong investor confidence
• A self-sufficient manufacturing model boosts efficiency