Scoda tubes iPo: The Ahmedabad company Skoda Tubes is bringing its IPO of Rs 220 crore. It will open on May 28. Closing will take place on 30 May. Anchor investors will be able to bid on 27 May. The company makes stainless steel tubes and pipes. It provides services to many industries like engineering, oil and gas, chemicals, fertilizers, power, pharmaceuticals, automotive, railway and transport.
There will be only new shares in the public issue of Scoda Tubes. There will be no offer for sale. This means that the entire money received from IPO will go to the company. After the closing of the issue, the allotment will be finalized by June 2. This will be followed by the listing of shares on BSE, NSE on 4 June. This issue will be the fourth IPO opening in the mainboard segment next week. The remaining 3 mainboards are IPO, Prostarm Info Systems, Aegis Vopak Terminals and Schloss Bangalore (Leela Hotels).
How to use IPO money
Skoda Tubes wants to use Rs 77 crore from its IPO to increase the production capacity of seamless and welded tubes and pipes. 110 crore is intended to be used to meet the growing working capital needs. The remaining money will be used for general corporate purposes.
50 percent of the Scoda Tubes IPO is reserved for qualified institutional buyers, 35 percent for retail investors and 15 percent is reserved for non -institutional investors. Monark Networth Capital is a merchant banker for this issue.
Financial status of scoda tubes
Skoda Tubes recorded a revenue of Rs 361.2 crore and a profit of Rs 24.9 crore during the period of April-December 2024. The profit for FY 2023-24 increased by 77 percent to Rs 18.3 crore. Revenue increased by 31 percent to Rs 400 crore. On 21 October 2024, in the pre-IPO round, Skoda Tubes raised Rs 55 crore through pre-IPO placements of 44 lakh equity shares at an IPO price of Rs 125 per share. Malabar India Fund and Carnelian India Amritkal Fund were investors in the pre-IPO round.