IPO wrap: Scoda Tubes, NR Vandana Textile IPO see strong demand; Prostarm Info allotment to be finalised

It was action packed day for the primary market investors. Scoda Tubes IPO saw robust subscription, while Prostarm Info Systems IPO allotment status was finalised.

The initial public offer of Scoda Tubes, which manufactures stainless steel tubes and pipes, has been fully subscribed on the first day of subscription, and on Friday, it saw a total booking of 57.37 times, led by QIB and NII category.

It has received bids for over 63.7 crore shares as against 1.57 crore shares on offer, as per the data on stock exchanges till 5 PM.

The qualified institutional buyers (QIBs) subscribed to their category 72.9 times with bids for 22.9 crore shares against 31,42,943 shares on offer. The retail quota was booked 20.89 times, as they applied for over 11.4 crore shares compared to 55 lakh shares set aside for them.

The non-institutional investors placed bids for 28,691,3100 shares against 23,57,143 shares reserved for the category, leading to a 121 times subscription.

NR Vandana Textile IPO booked 101 times

NR Vandana Textile IPO witnessed strong demand on the final day, with a whopping subscription of 101 times till 5 pm on Day 3. The public offer opened for subscription on May 28 to raise ₹27.89 crore from investors.

Till 5:00 pm on the final day, the mainboard issue received applications for over 41.6 crore shares against 61 lakh shares on offer, leading to a subscription of over 101 times as per the NSE data.

The Qualified Institutional Buyers’ category was booked over 36 times with bids for 4.2 crore shares against 11.7 lakh shares on offer. The Non-Institutional Investors’ (NIIs) segment received bids for more than 37 crore shares against 29.4 lakh shares on offer, leading to a subscription of 126 times in the category.

Prostarm Info Systems IPO allotment

Prostarm Info Systems IPO allotment status is expected to be finalised today following a robust response during the three-day subscription period. Investors who applied for the public offer can visit the websites of the NSE, the BSE and registrar KFin Technologies to check bid finalisation details.