Archive · 2 Jun 2025
Prostarm and Scoda Tubes IPOs Oversubscribed on Final Day of Bidding
Two companies, Prostarm Info Systems and Scoda Tubes, recently offered their shares to the public through IPOs.
People really wanted to buy shares of both companies, shown by high subscription rates.
Prostarm, a power solutions company, plans to use the money raised for its business.
Scoda Tubes, a stainless steel tube and pipe maker, will use the money to expand its production capacity.
Both IPOs were very popular, with shares potentially starting to trade on the stock exchange in early June.
Prostarm Info Systems IPO was subscribed 47.79 times on its final day, with the retail portion booked 27.17 times.
Scoda Tubes IPO was subscribed 45 times on its final day, NII portion booked 106.29 times.
Prostarm Info Systems aims to raise funds through a fresh issue of shares with proceeds used for working capital and debt repayment.
Scoda Tubes is raising funds to expand production capacity and for working capital.
Both IPOs opened on May 27 and closed May 29 and 30 respectively and are expected to list on the stock exchanges in early June.
- Who
- Prostarm Info Systems and Scoda Tubes.
- What
- IPOs of Prostarm Info Systems and Scoda Tubes were oversubscribed.
- When
- Bidding process ended May 29 and 30; Allotment expected in early June.
- Where
- Both companies are based in India, with shares to be listed on BSE and NSE.
- Why
- Prostarm to raise funds for working capital, debt repayment, and subsidiary stake acquisition. Scoda Tubes for production expansion and working capital.
Prostarm Info Systems
Scoda Tubes
N/A
Prostarm Info Systems
N/A
Scoda Tubes
N/A
- Prostarm Info Systems GMP
- ₹20
- Scoda Tubes GMP
- 16%
- Prostarm Info Systems Issue Size
- ₹168 crore
- Scoda Tubes IPO Price Band
- ₹130-140
- Prostarm Info Systems Revenue FY24
- ₹258 crore
- Scoda Tubes Revenue FY24
- ₹400 crore
