Scoda Tubes is a stainless-steel tubes and pipes manufacturer based in India having over 14 years of experience. Their 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”).

Scoda Tubes, an Book Built Issue Issue amounting to ₹ 220.00 Crores, consisting entirely an Fresh Issue of 157.14 Lakh Shares. The subscription period for the Scoda Tubes IPO opens on May 28, 2025, and closes on May 30, 2025. The allotment is expected to be finalized on or about Monday, June 02, 2025, and the shares will be listed on the BSE & NSE with a tentative listing date set on or about Wednesday, June 04, 2025.

The Share Price Band of Scoda Tubes IPO is set at ₹ 130 to ₹ 140 per equity share. The Market Capitalisation of the Scoda Tubes Limited at IPO price of ₹ 140 per equity share will be ₹ 838.73 Crores. The lot size of the IPO is 100 shares. Retail investors are required to invest a minimum of ₹ 14,000, while the minimum investment for High-Net-Worth Individuals (HNIs) is 15 lots (1,500 shares), amounting to ₹ 2,10,000.

MONARCH NETWORTH CAPITAL LIMITED is the book running lead manager of the Scoda Tubes IPO, while MUFG Intime India Private Limited is the registrar for the issue. 

Scoda Tubes Limited IPO GMP Today
The Grey Market Premium of Scoda Tubes Limited IPO is expected to be ₹ 15 based on the financial performance of the company. No real trading is done on the basis of Grey Market Premium that's why no real discovery of price can be done before the listing of shares on the stock exchange. The Grey Market Premium totally depends upon the Demand and Supply of the shares of the company in unorganized manner which is not recommended. The Grey Market Premium is mentioned for educational and informational purposes only

Scoda Tubes Limited IPO Live Subscription Status Today: Real-Time Update
As of 10:30 AM on 28 May, 2025, the Scoda Tubes Limited IPO live subscription status shows that the IPO subscribed 0.31 times on its First day of subscription period. Check the Scoda Tubes IPO Live Subscription Status Today at BSE.

Scoda Tubes IPO Anchor Investors Report
Scoda Tubes has raised ₹ 65.99 Crores from Anchor Investors at a price of ₹ 140 per shares in consultation of the Book Running Lead Managers. The company allocated 47,14,200 equity shares to the Anchor Investors. Check Full List of Scoda Tubes Anchor Investor List.

Note:- Equity Shares allotted to Anchor Investors (if any) are allotted from Qualified Institutional Buyers (QIBs) reservation portion.
Note:- The Number of shares offered shown IPO subscription section table is calculated at the lower end of the price band and Number of shares calculated in IPO details table section is calculated at upper end of the price band in case of Book Building Issue, so there can be difference. This is because we assume shares will be issued by the company at upper band as Anchor Investors also subscribe at upper band and shares will be issued at lower band only if in case of undersubscription of IPO.
Note:- Market Maker portion (if any) are not shown separately in subscription table and included in NIIs reservation portion.

Scoda Tubes Limited Day Wise IPO GMP Trend

Date	IPO Price	Expected Listing Price	GMP	Last Updated
23 May 2025	₹ 140	₹ 155	₹ 15 (10.71%)	10:00 PM; 23 May 2025

Scoda Tubes Limited IPO Allotment Date - Step by Step Guide to Check Allotment Status Online
Scoda Tubes IPO allotment date is 02 June, 2025, Monday. Scoda TubesIPO Allotment will be out on 2nd June, 2025 and will be live on Registrar Website from the allotment date. Check Scoda Tubes IPO Allotment Status here. Here's how you can check the allotment status:
- Navigate to the IPO allotment status page.
- Select Scoda Tubes Limited IPO from the dropdown list of IPOs
- Enter your application number, PAN, or DP Client ID.
- Submit the details to check your allotment status.
By following either of these methods, investors can quickly determine their allotment status and proceed accordingly with their investments.

Objectives of Scoda Tubes Limited IPO
Scoda Tubes proposes to utilise the Net Proceeds towards the following objects: 
1. ₹ 769.90 Million is required for capital expenditure towards expanding production capacity of seamless and welded tubes and pipes;
2. ₹ 1,100.00 Million is required for funding the part incremental working capital requirements of the Company;
3. General corporate purposes.

Refer to Scoda Tubes Limited RHP for more details about the Company.

Check latest IPO Review & analysis, Live IPO GMP today, Live IPO Subscription Status Today, Share Price, Financial Information and other details before applying in the IPO.

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About Scoda Tubes Limited

Business Overview

Scoda Tubes Limited, an Indian manufacturer of stainless-steel tubes and pipes with over 14 years of experience, operates across two primary categories: seamless and welded tubes and pipes. The company offers five key product lines: stainless steel seamless pipes, seamless tubes, seamless “U” tubes, instrumentation tubes, and welded tubes and “U” tubes.

Seamless pipes, made from SS round bars, are joint-free, while welded pipes are formed by welding SS coils. The company runs a hot piercing mill with a 20,000 MT annual capacity, enabling backward integration by producing mother hollow, the core raw material for seamless products.

Scoda Tubes serves engineering, EPC, and industrial companies across Oil & Gas, Chemicals, Fertilisers, Power, Pharmaceuticals, Automotive, Railways, and Transportation sectors. Products are marketed under the “Scoda Tubes Limited” brand in both domestic and international markets, including the United States, Germany, Italy, and other European countries through exclusive stockists.

Additional revenue is generated from job work services such as annealing, straightening, pickling, and marking. Raw materials are sourced from steel manufacturers, suppliers, and stockists based in India. As of December 31, 2024, exports reached 11 countries and sales were routed through 26 stockists globally. As of December 31, 2024, the workforce is a total of 503 employees, comprised of 153 permanent employees and 350 working on a contractual basis. The Bankers to the Company are Yes Bank Limited and HDFC Bank Limited.

Industry Analysis

Indian Stainless-Steel Industry Overview

India is a key global player in stainless steel production, with a diverse industry landscape that includes large corporations, public sector undertakings, and MSMEs. Major producers include Jindal Stainless Group, Viraj Group, SAIL, Rimjhim Ispat, Shah Alloys, Panchmahal Steel, Sunflag Steel, Ambica Steels, Synergy Steel, Mukand Ltd, and Laxcon Steels. While large firms manufacture a broad range of long and flat products, MSMEs, particularly in the north and west, focus on narrow-strip ‘patta’ steel primarily used in kitchenware.

The industry is highly integrated with global markets, both in sourcing raw materials and exporting finished goods. Domestic stainless steel prices are influenced by international trends and raw material costs.

Production and Trade Trends

India's stainless-steel production rose from 2.3 million tonnes in FY20 to 3.3 million tonnes in FY24, registering a CAGR of 10%. While flat products grew at a CAGR of 7%, long products surged at 18%.

Production remained steady in FY21 due to weak demand but rebounded sharply in FY22 with a 24% increase to meet pent-up requirements. FY23 saw stagnant output due to a spike in imports, particularly from China and Vietnam. Meanwhile, exports declined under pressure from cheaper international competition. FY24 production rose 20% year-on-year, driven by domestic demand and the government’s local manufacturing initiatives.

Demand Growth and Outlook

Stainless-steel demand in India increased at an 8% CAGR between FY22 and FY24. After a 12% dip in FY21 due to the pandemic, demand jumped 27% in FY22, fueled by renewed consumer purchases and government-led infrastructure spending.

FY23 and FY24 witnessed demand growth of 13% and 8% respectively, largely driven by a significant 19% and 25% rise in long product demand due to infrastructure push ahead of the 2024 elections. Additional drivers included housing initiatives, urbanization, improved consumer sentiment, and industrial expansion.

Looking ahead, domestic demand is projected to grow at a CAGR of 7–9% from FY24 to FY29, reaching 5.3–5.5 million tonnes annually. Key demand drivers will be the consumer goods, infrastructure, construction, automotive, and process industries.

Stainless-Steel Pipes and Tubes Industry

Domestic demand for stainless-steel pipes and tubes grew from 0.23 million tonnes in FY20 to 0.32 million tonnes in FY24, reflecting a CAGR of 9%. Welded pipes and tubes consistently comprised about 65% of the demand, while seamless variants made up the remaining 35%.

Demand is expected to rise at a CAGR of 6–8% through FY29, reaching 0.45–0.47 million tonnes. This growth will be led by strong momentum in sectors such as construction, automotive, oil and gas, chemical processing, and food & beverages.

Regional Demand Distribution

• West India (36–40%): Major consumption hub, driven by infrastructure investment and oil, gas, and chemical industries in Gujarat and Maharashtra.

• South India (25–28%): Strong demand from oil refineries, urban development, and automobile hubs in Tamil Nadu and Andhra Pradesh.

• North India (22–25%): Significant consumption from food processing, chemicals, and auto manufacturing.

• East India (12–14%): Lowest share, yet a notable contributor to national demand.

Business Strengths

1. Specialised Stainless-Steel Expertise
Exclusive focus on stainless-steel tubes and pipes has enabled deep operational expertise, efficient inventory management, and tailored offerings across length, thickness, and grades.

2. International Standards & Accreditations
Products are manufactured under ASTM, ASME, EN standards with certifications including ISO 9001:2015, PED 2014/68/EU, IBR, DNV, Lloyds Marine. Approvals position the company to serve demanding sectors across global markets.

3. Diverse Customer Base & Global Footprint
Serving Oil & Gas, Chemicals, Power, Pharma, Automotive, Railways, and more across India, Europe, and the U.S., through a network of authorised stockists.

4. Robust Quality Control
A dedicated quality control team conducts rigorous testing including spectrochemical analysis, eddy-current, ultrasonic, and dye penetration, ensuring compliance with international norms.

5. Strategically Located Integrated Facility
Manufacturing facility near Mundra Port and Inland Container Depot, featuring 18 seamless and 2 welded production lines, and a 20,000 MT per annum hot piercing mill for backward integration and cost control.

6. Experienced Leadership
Led by promoters with an average 8 years of domain experience, bringing in expertise in marketing, procurement, finance, and customer management.

7. Strong Financial Growth
Revenue grew from ₹1,940.28 million in FY22 to ₹3,998.61 million in FY24; Profit After Tax increased from ₹16.36 million to ₹183.00 million, reflecting a CAGR of 123.64%.

Business Strategies

1. Planned Capacity Expansion
Increased domestic demand and the imposition of anti-dumping duties on Chinese imports support the expansion of stainless-steel seamless tubes and pipes production capacity, enhancing utilization rates, operational efficiency, and margins.

2. Geographic Market Diversification
Exports reached 16 countries in FY24, including the U.S., Germany, and Spain. Strategic focus remains on expanding presence in key markets such as the U.S., Germany, Netherlands, Italy, Spain, France, Kuwait, and the UAE.

3. Brand Development Initiatives
Brand "Scoda Tubes Limited" continues to gain recognition through active participation in global and domestic industry expos such as Stainless Steel World (Netherlands), Wire & Tube (Germany), and Global Stainless-Steel Expo (India), reinforcing its position as a quality stainless-steel products manufacturer.

Business Risk Factors and Concerns

1. Stockist Dependency
Sales and distribution depend heavily on exclusive stockists in India and the U.S. Any termination or underperformance of these partners may adversely impact revenue and market presence.

2. Customer Concentration Risk
Revenue is concentrated among engineering, EPC, and industrial companies across core sectors like Oil & Gas, Chemicals, Power, and Transportation. Reduced activity or expenditure in these sectors could negatively affect financial outcomes.

3. Export Exposure
Exports contribute a significant portion of operational revenue. Changes in trade policies in key export markets such as Germany, the U.S., and Spain could restrict growth and affect profitability.

4. Single Facility Dependence
Manufacturing is entirely based at a single facility in Mehsana, Gujarat. Any disruption—including power outages, equipment failures, or regional instability—could impair operations and impact supply commitments.

5. Operational Risks
Business continuity is exposed to risks such as machinery failure, IT system downtime, industrial accidents, and manufacturing underperformance, all of which could hinder production efficiency and output.

Scoda Tubes faces key operational risks linked to its single manufacturing facility, export reliance, stockist network, and dependence on core industrial sectors. Market, policy, and operational disruptions can significantly impact business performance.