Scoda Tubes IPO fully subscribed within hours of opening; from price band to lot size, key things to know

Scoda Tubes IPO: The initial public offer of Scoda Tubes, which manufactures stainless steel tubes and pipes, has been fully subscribed on the first day of subscription on Wednesday, May 28.

It has received bids for 1,55,04,100 shares as against 1,18,46,169 shares on offer, as per the data on stock exchanges until 1:40 pm.

The qualified institutional buyers (QIBs) subscribed to their category 1.37 times with bids for 46,53,500 shares against the allocation of 33,84,569 shares. The retail quota was booked 1.3 times as they applied for 76,70,900 shares compared to 59,23,100 shares set aside for them.

The non-institutional investors placed bids for 31,79,700 shares against 25,38,500 shares reserved for the category, leading to 1.25 times subscription.

Proceeds will be used to expand the production capacity, working capital needs and corporate general purposes.

The issue, with a price range of ₹130-₹140 per share, will conclude on May 30.

Scoda Tubes IPO: Lot size

The minimum lot size is 100 shares, costing at least ₹13,000.

Scoda Tubes IPO: Allotment and listing date

Scoda Tubes is engaged in making stainless-steel tubes and pipes, serving clients in EPC and industrial companies involved in oil and gas, fertilisers, chemicals, power, etc.

The company's shares are proposed to be listed on the BSE and NSE on June 4.