IPO
Stainless steel tubes manufacturer Scoda Tubes Rs.220-Cr IPO oversubscribed
Mehsana, Gujarat-based tubes and pipes manufacturer Scoda Tubes initial public offer (IPO) garnered subscription of 20 times. The investors booked 24.13 crore shares against 1.18 crore shares on offer. Earlier, the company raised INR 66 crore from anchor investors. The price band of the issue is fixed at INR 130-140 per share.The category for non-institutional investors attracted 58.28 times subscription while the quota for Retail Individual Investors (RIIs) got subscribed 12.27 times. The portion for Qualified Institutional Buyers (QIBs) received 6.11 times subscription.
For FY24, Scoda Tubes had reported about INR 400 Cr in Operating Income and about INR 18 Cr in PAT.
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