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Total Issue Size
Fresh Issue + Offer For Sale
Fresh Issue (FI)
Proceeds go to the company
Offer For Sale (OFS)
Proceeds go to the existing investors
Capital expenditure for capacity expansion
Funding expansion of production capacity for seamless and welded tubes and pipes.
Working capital requirements
Funding incremental working capital needs of the company.
General corporate purposes
Balance net proceeds for general corporate purposes.
(₹ in Crore)
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Scoda Tubes Limited is a stainless-steel tubes and pipes manufacturer incorporated in 2008 and based in Kadi, Mehsana district, Gujarat. The company produces both seamless and welded stainless steel products, including seamless pipes, seamless tubes, seamless U-tubes, instrumentation tubes, and welded tubes and U-tubes, from an integrated manufacturing facility. Its products serve a range of industrial end markets, including oil and gas, chemicals, fertilizers, power generation, pharmaceuticals, automotive, railways, and transportation. The company has built a diversified customer base spanning domestic and international markets and holds a number of global quality accreditations relevant to these industries. Its promoter group consists of Samarth Patel, Jagrutkumar Patel, Ravi Patel, Saurabh Patel, and Vipulkumar Patel. Over recent fiscal years the company has shown steady growth in revenue and profitability alongside an expanding asset base, and it has been investing in additional production capacity. It sells primarily through a network of stockists, and its scale of operations and quality-control track record support its position as a value-added supplier within the stainless-steel long-products segment.
Scoda Tubes raised about Rs 66 crore from anchor investors a day ahead of the IPO opening, allotting shares at the upper price band of Rs 140. Malabar India Fund was the largest participant at close to Rs 30 crore, followed by MNCL Capital Compounder Fund 2 at about Rs 16 crore, with further allocations to Aarth AIF Growth Fund, IMAP India Capital Investment Trust (Catalyst New India Fund), Chhattisgarh Investments, and Swyom India Alpha Fund.
Source: RHP • Analysis provided for informational purposes
Last Updated: 13 July 2026, 11:25 PM
Focus on value-added products
Specializes in higher-value stainless-steel long products rather than commodity-grade output, supporting stronger margins.
Global quality accreditations
Holds a range of industry certifications that support sales into demanding sectors such as oil and gas and pharmaceuticals.
Diversified international customer base
Serves a wide mix of customers across geographies, reducing reliance on any single buyer or market.
Integrated manufacturing facility
Operates from a single strategically located facility that supports efficient production and logistics.
Strong quality control
Maintains low product rejection rates, reflecting consistent manufacturing quality.
Track record of growth
Has shown steady revenue and profit growth alongside ongoing capacity expansion.
Reliance on a limited stockist network
Sales are concentrated through a small number of stockists, and underperformance or termination of these relationships could hurt distribution.
Exposure to unsecured loan recalls
Lenders can recall unsecured borrowings at any time, which could strain cash flow if it happens unexpectedly.
Dependence on third-party logistics
The company relies on outside transport providers to move products and raw materials, exposing it to delays and cost increases.
MUFG Intime India Private Limited
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