Scoda Tubes IPO, May 23 -- The price band for the initial public offer (IPO) of Scoda Tubes has been set at Rs.130-140 per share. The company aims to raise Rs.275 crore through the offering.

The IPO will be open for bidding from Wednesday, May 28 to Friday, May 30. Of the total offering, 50% is reserved for Qualified Institutional Buyers (QIBs), 35% for Retail Investors, and 15% for Non-Institutional Investors (NIIs).

Gujarat-based Scoda Tubes is entirely a fresh issue of equity shares aggregating up to Rs.275 crore. Regarding the IPO proceeds, up to Rs.105 crore will be used for capital expenditures to expand the production capacity of seamless tubes and pipes by 10,000 million tonnes per annum and welded tubes and pipes by 12,130 MTPA...