In May 2025, India’s IPO market made a strong comeback after a three-month pause, with seven companies stepping forward to launch their offerings. The month saw over ₹6,700 crore raised through IPOs, reflecting renewed investor confidence and a more stable secondary market. Among the standout listings were Leela Hotels, aiming to raise ₹3,500 crore, and Aegis Vopak Terminals, targeting ₹2,800 crore. Retail investor participation saw a significant rise, and businesses aligned with ESG (Environmental, Social, and Governance) principles drew notable attention; around 60% of Indian investors now weigh ESG factors when evaluating IPO opportunities. The technology sector also continued to hold sway, with several SaaS, cloud computing, and AI companies expected to hit the markets later in 2025.
Against this backdrop, Scoda Tubes Limited is set to open its IPO on May 28, 2025. Here is a detailed insight into Scoda Tubes Limited, its IPO, and the industry outlook.
About Scoda Tubes Ltd.
Established in 2008, Scoda Tubes Limited manufactures stainless and welded pipes and tubes. Its products are used in the oil and gas, pharmaceuticals, railways, fertilisers, chemicals, transportation, automotive, and power sectors. Scoda Tubes owns a hot piercing mill that produces mother hollows. For those unaware, these mother hollows are the primary raw materials for stainless steel production.
The company operates a manufacturing facility in Mehsana, Gujarat. As of fiscal year 2024, it has a network of 49 stockists in India and abroad. Scoda Tubes Ltd. exports its products to 16 countries, including France, Germany, Spain, the United States, and the Netherlands.
Scoda Tubes Ltd. IPO Details
With the IPO launch, Scoda Tubes Ltd. intends to channelise the funds towards capital expenditure of around ₹76.99 crores to improve the production capacity of its welded tubes and pipes. In addition, ₹110 crores will be utilised to fund working capital requirements. The balance will be used to meet general corporate purposes.
Important IPO Timeline
| IPO Open Date | May 28, 2025 |
| IPO Close Date | May 30, 2025 |
| Allotment Date (Tentative) | June 02, 2025 |
| Initiation of Refunds | June 03, 2025 |
| Credit of Shares to Demat | June 03, 2025 |
| Listing Date (Tentative) | June 04, 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on May 30, 2025 |
Key IPO Details
Here is the table on the Scoda Tubes Ltd. IPO Review:
| Face Value | ₹10 per share |
| Issue Price Brand | ₹130 to ₹140 per share |
| Lot Size | 100 Shares |
| Total Issue Size | 1,57,14,286 shares (aggregating up to ₹220 Cr) |
| Fresh Issue | 1,57,14,286 shares (aggregating up to ₹220 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing at | BSE, NSE |
| Shareholding Pre-issue | 4,41,94,700 shares |
Lot Size of Scoda Tubes Ltd. IPO
Here is the table of lot sizes for each category of investors:
| Application | Lots | Shares | Amount |
| Retail (Min) | 1 | 100 | ₹14,000 |
| Retail (Max) | 14 | 1,400 | ₹1,96,000 |
| S-HNI (Min) | 15 | 1,500 | ₹2,10,000 |
| S-HNI (Max) | 71 | 7,100 | ₹9,94,000 |
| B-HNI (Min) | 72 | 7,200 | ₹10,08,000 |
Scoda Tubes Ltd. Financials
The Scoda Tubes IPO has a market capitalisation of ₹838.73 crore. As of March 31, 2024, its key performance indicators showcase a Return on Equity (ROE) of 28.77%, and a Return on Capital Employed (ROCE) of 15.92%. The Return on Net Worth (RoNW) mirrors the ROE at 28.77%, affirming consistent profitability relative to equity investments. Moreover, the company has a Profit After Tax (PAT) margin of 4.58%.
Other financial details of the company include the following:
Key Company Financials
| Period Ended | 31 Dec 2024
(Crores) |
31 Mar 2024
(Crores) |
31 Mar 2023
(Crores) |
31 Mar 2022
(Crores) |
| Assets | ₹428.49 | ₹330.42 | ₹238.26 | ₹156.06 |
| Revenue | ₹363.48 | ₹402.49 | ₹307.79 | ₹195.05 |
| Profit After Tax | ₹24.91 | ₹18.30 | ₹10.34 | ₹1.64 |
| Net Worth | ₹143.55 | ₹63.61 | ₹45.31 | ₹34.98 |
| Reserves and Surplus | ₹99.35 | ₹62.33 | ₹44.03 | ₹33.69 |
| Total Borrowing | ₹202.16 | ₹202.66 | ₹139.31 | ₹109.90 |
Scoda Tubes Ltd.: Industry Outlook
- The global stainless steel pipes and tubes market was valued at $34.16 billion in 2024 and is projected to grow to $51.87 billion by the year 2033.
- Increased government spending on smart cities, metro projects, and industrial corridors is driving demand for stainless steel pipes.
- The Indian government’s ₹111 lakh crore National Infrastructure Pipeline (NIP) is fuelling demand for stainless steel pipes in railways, highways, and urban development.
- Metro rail projects and smart city initiatives are increasing the need for corrosion-resistant stainless steel tubes.
- Scoda Tubes integrates solar-powered infrastructure, reducing its carbon footprint. The global green steel market is expected to reach $364.5 billion by 2032, favouring eco-friendly manufacturers.
Top Upcoming IPOs to Watch (23rd–27th June 2025)
- Kalpataru Ltd IPO
- HDB Financial Services Ltd IPO
- Globe Civil Projects Ltd IPO
- Ellenbarrie Industrial Gases Ltd IPO
- Suntech Infra Solutions Ltd IPO
Conclusion
Scoda Tubes Ltd. presents an interesting investment opportunity because of its strong presence in the stainless-steel tubes and pipes industry, catering to diverse sectors like Oil & Gas, Chemicals, and Pharmaceuticals. The company has shown consistent financial growth, increasing revenues, and strategic expansion plans. However, potential investors should consider risks, such as dependency on a limited group of distributors, delays in project execution, and vulnerability to fluctuations in industrial demand.
