Trending Now

Tubes and Pipes manufacturer Scoda Tubes Limited files draft papers to raise ₹ 275 crore via IPO


Bhubaneswar: Scoda Tubes Limited has filed its draft red herring prospectus (DRHP) with market regulator Securities and Exchange Board of India (SEBI) to raise funds through an initial public offering (IPO).

The IPO is a complete fresh issue of equity shares aggregating up to ₹ 275 crore. Proceeds from the fresh issue will be used for Capital expenditure towards expanding production capacity of seamless and welded tubes and pipes, Funding the part incremental working capital requirements of the Company and General corporate purposes.

The company is a stainless-steel tubes and pipes manufacturer based in India having over 14 years of experience. The products are broadly categorised into: (i) seamless tubes/pipes; and (ii) welded tubes and pipes, under five (5) product lines, namely, (i) stainless steel seamless pipes; (ii) stainless steel seamless tubes; (iii) stainless steel seamless “U” tubes; (iv) stainless steel instrumentation tubes; and (v) stainless steel welded tubes and “U” tubes (“Products” or “Stainless Steel Products”). The products are under the brand, “Scoda Tubes Limited”. These products are used by a diverse range of customers like engineering companies, EPC and industrial companies engaged in Oil and Gas, Chemicals, Fertilisers, Power, Pharmaceuticals, Automotive, Railways and Transportation sectors

As of August 31, 2024, the company’s manufacturing facility has a total installed capacity of 20,000 MT per annum of mother hollow, 10,068 MT per annum of seamless products and 164 1,020 MT per annum of welded products. The company caters to both domestic as well as international markets.

Samarth Patel, Jagrutkumar Patel, Ravi Patel, Saurabh Patel, Vipulkumar Patel are the promoters of the company having years of experience in the  stainless steel, seamless & welded tubes and pipes industry.

Monarch Networth Capital is the sole book-running lead manager to the issue.


Share It