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
