Scoda Tubes, a Gujarat-based manufacturer of stainless-steel tubes and pipes, has raised Rs. 66 crore from anchor investors on the eve of its initial public offering, which opens on May 28. The IPO, entirely a fresh issue worth Rs. 220 crore, is priced between Rs. 130 and Rs. 140 per share. Funds will be deployed toward enhancing manufacturing capacity, meeting working capital needs, and general corporate activities. The offering has attracted notable institutional investors, underscoring strong market confidence.