Scoda Tubes Sets IPO Price Band, Eyes Expansion

Scoda Tubes has announced a price range of Rs 130-140 per share for its Rs 220-crore initial public offering. The IPO, opening from May 28 to May 30, will be used to expand production capacities, meet working capital needs, and fulfill general corporate purposes.

Stainless-steel tubes and pipes manufacturer Scoda Tubes has set its IPO price band between Rs 130 and Rs 140 per share, aiming to raise Rs 220 crore from the market.

The IPO opens for public subscription from May 28 to May 30, with anchor investors able to bid a day earlier, according to the company's statement.

Proceeds will be directed towards expanding production capacities and fulfilling working capital and corporate purposes, as half the issue is reserved for institutional buyers, 35% for retail investors, and 15% for non-institutional investors.

(With inputs from agencies.)