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Scoda Tubes IPO Allotment Finalized Ahead of June 4 Debut

Grey market premiums climbing past 13% underscore strong demand that drove a 57-fold subscription for the Rs220 crore issue

Scoda Tubes IPO GMP
Scoda Tubes IPO Allotment Status
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Overview

  • The IPO allotment was finalised on June 2 with refunds and share transfers scheduled for June 3 ahead of the June 4 listing on BSE and NSE.
  • Investors placed bids for over 63 crore shares against 1.1 crore available, resulting in a 57.37 times subscription.
  • Grey market premiums around Rs 20 per share point to potential listing gains of about 14–15% over the Rs 130–140 price band.
  • The Rs 220 crore IPO comprised a fresh issue of 1.57 crore equity shares priced between Rs 130 and Rs 140 each.
  • Scoda Tubes will use the proceeds to expand seamless and welded tube capacity, bolster working capital and support general corporate purposes.