India's Scoda Tubes jumps 5% in trading debut

Scoda Tubes

04/06/2025 09:21

** Indian stainless steel tubes and pipes maker Scoda Tubes SCOD.NS climbs 5% to 147 rupees on first day of trading

** Stock opened flat at 140 rupees

** Co valued at $102.5 million as of 1:42 p.m. IST

** Its IPO consisted solely of fresh issue of shares worth up to 2.2 billion rupees

** IPO was subscribed 53.78 times; portion set aside for non-institutional investors subscribed 113.03 times, qualified institutional buyers subscribed 69.51x

** Proceeds will be used for expanding production capacity, funding working capital requirements and general corporate purposes

 (Reporting by Manvi Pant in Bengaluru)

 ((Manvi.Pant@thomsonreuters.com; +918447554364;))