Scoda Tubes, Neptune Petrochemicals, and NR Vandana Tex IPOs open for subscription

A total of three initial public offerings, including one mainboard and two SME issues, opened for subscription on Wednesday, May 28. The initial share sales will conclude on May 30.

Their allotment status will be finalised on Monday, June 2, while the listing will occur on Wednesday, June 4.

Scoda Tubes IPO

The ₹220 crore mainboard issue of Scoda Tubes is solely a fresh issuance of 1.57 crore shares. The price band has been fixed at ₹130 to ₹140 per share. The IPO will conclude on Friday, May 30.

The funds raised will be utilised for capital expenditure towards expanding production capacity, working capital needs and corporate general purposes.

A retail investor can apply for 100 shares, needing a minimum investment of ₹13,000.

On Tuesday, the company raised ₹66 crore from anchor investors, including MNCL Capital Compounder Fund 2, Malabar India Fund, IMAP India Capital Investment Trust – Catalyst New India Fund, Aarth AIF Growth Fund, Swyom India Alpha Fund and Chhattisgarh Investments.

Scoda Tubes is a stainless-steel tube and pipes maker, serving a wide range of customers like EPC and industrial firms engaged in oil and gas, chemicals, power, fertilisers, etc.

Monarch Networth Capital is the sole book-running lead manager for the IPO, while MUFG Intime India is the registrar.

NR Vandana Tex Industries IPO

The objectives of the NSE SME issue are to fund working capital requirements, repayment of loans, and general corporate purposes.

Retail investors can bid for a minimum of 3000 shares, requiring an investment of ₹1,26,000. For high-net-worth individuals (HNIs), the minimum application size is 9,000 shares worth ₹2,70,000.

NR Vandana Tex Industries is involved in designing, manufacturing and wholesaling premium cotton textile products such as bed sheets, cotton sarees, and salwar suits. Its operations cover all stages of production, from cutting and embroidery to finishing, inspection, and packing.

Neptune Petrochemicals IPO

The ₹73.20 crore NSE SME IPO of Neptune Petrochemicals, with a price band of ₹115 to ₹122 per share, is a fresh issue of 60 lakh shares without any offer for sale component.

The company aims to utilise the net proceeds from the issue to meet working capital requirements, capital expenditure needs, and general corporate purposes.

A lot, consisting of 1,000 shares, is worth ₹1,15,000 for retail investors. For HNIs, the least investment is ₹2,44,000.

Neptune Petrochemicals is into the manufacturing and trading of bitumen products and emulsions.