Stainless steel tubes and pipes maker Scoda Tubes has raised nearly Rs 66 crore from six institutional investors via anchor book on May 27, ahead of its public issue which opens tomorrow.
The Rs 220 crore maiden public issue will open for retail and non-retail investors between May 28-30 at a price band of Rs 130-140 per share. The IPO consists of solely fresh issue of 1.57 crore shares.
The Ahmedabad-based company on Tuesday said it has finalised allocation of 47.14 lakh equity shares to anchor investors at a price of Rs 140 per share.
Malabar India Fund invested the maximum amount amongst six investors in the anchor book, acquiring nearly Rs 30 crore worth shares, followed by MNCL Capital Compounder Fund which bought nearly Rs 16 crore worth shares.
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Aarth AIF Growth Fund, IMAP India Capital Investment Trust, Chhatisgarh Investments, and Swyom India Alpha Fund were other investors in the company via anchor book.
Scoda Tubes intends to utilise IPO proceeds for expanding production capacity of seamless and welded tubes and pipes, and working capital requirements.
Monarch Networth Capital is acting as the merchant banker for Scoda Tubes IPO.
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