Chandigarh: Scoda Tubes Limited (“STL” or “The Company”) shall open its Bid / Issue in relation to its initial public offer of Equity Shares on Wednesday, May 28, 2025.
The Anchor Investor Bidding Date shall be Tuesday, May 27, 2025. The Bid/Issue will open on Wednesday, May 28, 2025 for subscription and will close on Friday, May 30, 2025. Bids can be made for a minimum of 100 Equity Shares and in multiples of 100 Equity Shares thereafter. (“Bid Details”)
The Price Band of the Issue has been fixed at ₹130 to ₹140 per Equity Share. (“Issue Price”)
The total Issue size of Equity Shares with face value ₹ 10 each aggregating up to ₹ 2,200 million (₹ 220 crore) comprises only of fresh issue of Equity Shares. (“Total Issue Size”)
The company proposes to utilize the net proceeds from the issue towards the following objects –(i) Capital expenditure towards expanding production capacity of seamless and welded tubes and pipes estimated to be ₹ 769.90 million (₹ 76.99 crore); (ii) Funding the part incremental working capital requirements of the company estimated to be ₹ 1,100 million (₹ 110 crore) and general corporate purposes. (the “Objects of the Issue”)
This Equity Shares are being offered through the “Red Herring Prospectus” of the Company dated May 22, 2025 filed with Registrar of Companies, Ahmedabad at Gujarat(“RHP”) and are proposed to be listed on the BSE Limited (“BSE”) and the National Stock Exchange of India Limited (“NSE”). For the purposes of the Issue, the Designated Stock Exchange shall be NSE.
Further, 5% of the Net QIB Portion shall be available for allocation on a proportionate basis to Mutual Funds only, and the remainder of the Net QIB Portion shall be available for allocation on a proportionate basis to all QIB Bidders, including Mutual Funds, subject to valid Bids being received from them at or above the Issue Price. However, if the aggregate demand from Mutual Funds is less than 5% of the Net QIB Portion, the balance Equity Shares available for allocation in the Mutual Fund Portion will be added to the remaining Net QIB Portion for proportionate allocation to QIBs.
