Scoda Tubes Secures Rs.65.99 Crore from Anchor Investors
In advance of its public offering tomorrow, stainless steel tube and pipe manufacturer Scoda Tubes received around Rs 66 crore from six institutional investors through an anchor book on May 27.
Retail and non-retail investors will be able to purchase shares in the Rs 220 crore initial public offering between May 28 and 30 at a price range of Rs 130 to Rs 140. Only 1.57 crore new shares are being issued as part of the IPO.
At the price of Rs 140 per share, the Ahmedabad-based company announced that it has finalized the distribution of 47.14 lakh equity shares to anchor investors.
Among the six investors in the anchor book, Malabar India Fund made the largest investment, purchasing shares valued at almost Rs 30 crore. MNCL Capital Compounder Fund came in second, purchasing shares valued at about Rs 16 crore.
Other anchor book investors in the company were Chhatisgarh Investments, IMAP India Capital Investment Trust, Aarth AIF Growth Fund, and Swyom India Alpha Fund.
The money raised from the IPO will be used by Scoda Tubes to meet its working capital needs and increase its production capacity of seamless and welded tubes and pipes.
The goal of the book-built Scoda Tubes IPO is to raise Rs.275 crore by issuing brand-new shares from the Indian stock market. The initial public offering (IPO) is scheduled to open tomorrow, Wednesday, May 28, 2025, and close on Friday, May 30, 2025.
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With a lot size of 100 shares each lot, the company has set the price range for the public offering between Rs.130 and Rs.140 per share. To finance the company's capital expenditure requirements, Scoda Tubes intends to use up to Rs.105 crore from the IPO funds to increase production capacity by 10,000 million tonnes annually and welded tubes and pipes by 12,130 MTPA.