New Delhi, June 4 (H.S.): Scoda Tubes, a stainless steel tube and pipe manufacturer, made a flat entry in the stock market today, listing at ₹1240 on BSE and NSE, unchanged from its IPO price of ₹140. Following the initial listing, buying support pushed the shares up to ₹145 by 11 am, resulting in a profit of 3.57% for IPO investors. The company's IPO, amounting to ₹220 crore, was available for subscription from May 28 to May 30, and was oversubscribed by 57.37 times overall. The Qualified Institutional Buyers (QIB) portion was subscribed 72.97 times, Non-Institutional Investors (NII) 121.72 times, and retail investors 20.89 times. A total of 1,57,14,286 new shares, with a face value of ₹10, were issued. The raised funds will enhance production capacity, cover working capital needs, and support general corporate purposes. The company has seen consistent financial growth, with net profit rising from ₹1.64 crore in 2021-22 to ₹10.34 crore in 2022-23, reaching ₹18.30 crore in 2023-24, and revenue increasing to ₹402.49 crore at a CAGR of over 43%.

Hindusthan Samachar / Jun Sarkar