BILKULONLINE
Ahmedabad, Nov 7: Scoda Tubes has raised ₹ 55 crore from Malabar India Fund Limited and Carnelian Bharat Amritkaal Fund. Both the funds have acquired a total of 9.96% stake in the company. The allotment represents 2.4 million shares at ₹125 per share (5.43% stake) to Mauritius based Malabar Investments and 2 million shares (4.53% stake) to Carnelian Bharat Amritkaal Fund led by Vikas Khemani. Scoda Tubes has recently submitted its Draft Red Herring Prospectus (DRHP) to raise ₹ 275 crore through a new issuance of shares with Monarch Networth Capital being the sole book running lead manager.
Scoda Tubes Limited, a renowned name in the Indian manufacturing sector, stands out with over 14 years of experience as a premier stainless-steel tubes and pipes producer. With a commitment to quality and innovation, Scoda offers a comprehensive product range, including seamless pipes, seamless tubes, seamless “U” tubes, instrumentation tubes, and welded tubes and “U” tubes—all marketed under the trusted brand “Scoda Tubes Limited.”
The company is backed by a team of seasoned promoters—Samarth Patel, Jagrutkumar Patel, Ravi Patel, Saurabh Patel, and Vipulkumar Patel—each bringing an impressive average of eight years of experience in the stainless steel and tubes industry.
To further enhance quality control and operational efficiency, Scoda has developed a hot piercing mill with an annual capacity of 20,000 MT, dedicated to producing mother hollow, the essential raw material for their seamless products. This strategic backward integration allows Scoda to reduce reliance on external suppliers, control production costs, and optimize the quality of its offerings. Any surplus mother hollow is sold in the open market, showcasing Scoda’s adaptability and market presence.
Scoda Tubes’ products serve a diverse clientele across engineering, EPC, and industrial companies in sectors such as Oil and Gas, Chemicals, Fertilizers, Power, Pharmaceuticals, Automotive, Railways, and Transportation, meeting the varied and demanding requirements of these industries with consistency and reliability.