Jindal Supreme (India) IPO
Jindal Supreme (India) IPO is a Mainboard book-built issue of ₹124.88 crore, comprising a Fresh Issue of ₹99.89 crore and an Offer for Sale of ₹24.99 crore. The price band is ₹88 to ₹93 per share, with a lot size of 161 shares. The IPO is scheduled to ope
Jindal Supreme (India) IPO Details
Jindal Supreme (India) IPO is scheduled to open for subscription on September 16, 2026 and close on September 18, 2026. The basis of allotment is expected on September 21, refunds are scheduled for September 22, and shares are expected to be credited to successful applicants' Demat accounts on September 22. The shares are scheduled to list on BSE and NSE on September 23, 2026.
Jindal Supreme (India) IPO GMP
Jindal Supreme IPO GMP is currently reported at ₹11, indicating an unofficial premium of about 11.83% over the upper IPO price of ₹93 and an indicative listing price of ₹104. GMP is sourced from informal grey-market activity, is not regulated or guaranteed, and can change rapidly before listing.
Jindal Supreme (India) IPO Timeline (Tentative)
Jindal Supreme (India) IPO is scheduled to open for subscription on September 16, 2026 and close on September 18, 2026. The basis of allotment is expected on September 21, refunds are scheduled to begin on September 22, and shares are expected to be credited to successful applicants' Demat accounts on September 22. The shares are scheduled to list on BSE and NSE on September 23, 2026.
| Event | Tentative Date |
|---|---|
| IPO Open Date | Wed, Sep 16, 2026 |
| IPO Close Date | Fri, Sep 18, 2026 |
| Basis of Allotment | Mon, Sep 21, 2026 |
| Initiation of Refunds | Tue, Sep 22, 2026 |
| Credit of Shares to Demat | Tue, Sep 22, 2026 |
| Listing Date | Wed, Sep 23, 2026 |
| IPO Opens | September 16, 2026 |
| IPO Closes | September 18, 2026 |
| Basis of Allotment | September 21, 2026 |
| Refund Initiation | September 22, 2026 |
| Credit of Shares to Demat | September 22, 2026 |
| Listing Date | September 23, 2026 |
Jindal Supreme (India) IPO Lot Size
The Jindal Supreme (India) IPO lot size is 161 shares. At the upper price band of ₹93 per share, one lot requires a minimum investment of ₹14,973. Retail investors can apply for up to 13 lots, amounting to ₹1,94,649 at the upper price band.
| Application | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 1 | 161 | 14,973 |
| Retail (Max) | 13 | 2,093 | 1,94,649 |
| S-HNI (Min) | 14 | 2,254 | 2,09,622 |
| S-HNI (Max) | 66 | 10,626 | 9,88,218 |
| B-HNI (Min) | 67 | 10,787 | 10,03,191 |
Jindal Supreme (India) IPO Reservation
Jindal Supreme (India) IPO has reserved not more than 50% of the issue for Qualified Institutional Buyers, not less than 15% for Non-Institutional Investors and not less than 35% for Retail Individual Investors. The reported pre-IPO EPS is ₹5.59 and post-IPO EPS is ₹6.49, with the valuation figures based on the upper price band of ₹93.
Jindal Supreme (India) IPO Subscription
Jindal Supreme (India) IPO has not yet opened for public subscription. Therefore, category-wise subscription figures are currently not available.
| Category | Subscription (times) |
|---|---|
| QIB | N.A. |
| NII | N.A. |
| RII | N.A. |
| Total | N.A. |
About Jindal Supreme (India)
Jindal Supreme (India) Limited, incorporated in 1974, is engaged in the manufacturing and supply of steel pipes, tubes and allied infrastructure products. Its product portfolio includes Mild Steel black pipes and tubes, galvanized pipes, metal beam crash barriers and galvanized iron tubular poles.
The company's products serve a range of applications across water supply and plumbing, infrastructure and construction, roads and highways, bridges, oil and gas, chemicals, agriculture and rural electrification. It operates a B2B business model, supplying products directly to institutional and industrial customers as well as through a dealer network.
Jindal Supreme operates its manufacturing facility at Hisar, Haryana. The company has expanded its product portfolio with crash barriers and GI tubular poles and has developed a dealer network primarily across northern India. As of June 30, 2026, the company had 53 dealers and 242 employees.
Strengths
- More than five decades of operating experience in steel pipes and infrastructure products.
- Diversified product portfolio serving multiple infrastructure and industrial applications.
- Established dealer network with direct institutional and industrial customers.
- Presence in products such as crash barriers and GI tubular poles in addition to steel pipes and tubes.
- Exposure to infrastructure, roads, water supply and rural electrification demand.
Risks to Consider
- Steel prices and raw-material costs can materially affect margins.
- The company operates in a competitive steel pipes and tubes industry.
- FY2026 PAT declined despite revenue growth, indicating pressure on profitability.
- The business has significant working-capital and borrowing requirements.
- Demand is linked to infrastructure, construction and industrial activity.
- Dependence on dealer and institutional channels creates customer and market concentration risks.
Jindal Supreme (India) Financials (₹ Cr)
Jindal Supreme (India) reported total income of ₹650.88 crore in FY2024, ₹604.74 crore in FY2025 and ₹675.94 crore in FY2026. PAT improved from ₹12.87 crore in FY2024 to ₹24.27 crore in FY2025 before declining to ₹22.53 crore in FY2026. As of June 30, 2026, the company reported ₹191.09 crore of total income and ₹8.28 crore of PAT.
| Period | Revenue | PAT | Total Assets | Net Worth |
|---|---|---|---|---|
| FY2024 | ₹650.88 Cr | ₹12.87 Cr | ₹181.16 Cr | ₹50.31 Cr |
| FY2025 | ₹604.74 Cr | ₹24.27 Cr | ₹200.33 Cr | ₹74.64 Cr |
| FY2026 | ₹675.94 Cr | ₹22.53 Cr | ₹248.41 Cr | ₹96.82 Cr |
KPIs & Valuation
At the IPO upper price of ₹93, Jindal Supreme (India) is valued at approximately 16.64x FY2026 earnings on a pre-issue basis and 14.33x on the reported post-IPO EPS basis. FY2026 EPS was ₹5.59, RoNW was 26.28%, ROCE was 16.78%, EBITDA margin was 6.16%, PAT margin was 3.33% and debt-to-equity was 1.24x.
Objects of the Issue
The Jindal Supreme (India) IPO comprises a Fresh Issue of ₹99.89 crore and an Offer for Sale of ₹24.99 crore. The company proposes to utilise the net proceeds from the Fresh Issue primarily for repayment or pre-payment of certain outstanding borrowings, with the remaining amount intended for general corporate purposes.
- The company proposed to utilise the IPO proceeds for:
- Repayment/pre-payment, in full or in part, of certain outstanding borrowings availed by the company, amounting to approximately ₹71.00 crore.
- General corporate purposes.
Promoters, Lead Managers & Registrar
Jindal Supreme (India) Limited is promoted by Abhishek Jindal and Sonam Jindal. Sarthi Capital Advisors Private Limited is the Book Running Lead Manager and Bigshare Services Private Limited is the Registrar to the Issue.
Promoters
Lead Managers (BRLM)
Registrar
| Name | Bigshare Services Pvt. Ltd. |
|---|---|
| Phone | +91 22 6263 8200 |
| ipo@bigshareonline.com | |
| Website | https://bigshareonline.com |
Jindal Supreme (India) IPO Review
Jindal Supreme (India) has an established operating history in steel pipes, tubes and allied infrastructure products, with a product portfolio that covers conventional pipes as well as crash barriers and GI tubular poles. Its presence across water supply, infrastructure, highways, agriculture and rural electrification provides exposure to several infrastructure-led demand segments.
A key positive is the company's long operating history and expanding product portfolio. The IPO also proposes to direct approximately ₹71 crore toward repayment or pre-payment of borrowings, which can help reduce financial leverage and interest-related pressure. The company reported revenue of ₹675.94 crore in FY2026 compared with ₹604.74 crore in FY2025.
However, profitability requires attention. PAT declined to ₹22.53 crore in FY2026 from ₹24.27 crore in FY2025 despite the increase in revenue. At the upper IPO price of ₹93, the reported pre-IPO P/E is approximately 16.64x based on FY2026 EPS of ₹5.59. Investors should therefore monitor margin performance, steel-price movements, debt levels and the company's ability to convert revenue growth into sustainable earnings.
How to Apply
Jindal Supreme (India) IPO applications can be made through ASBA or UPI using a registered stockbroker or bank. The IPO opens on September 16, 2026 and closes on September 18, 2026. The minimum retail application is 1 lot of 161 shares, requiring ₹14,973 at the upper price band of ₹93.
Through UPI
- Log in to your stockbroker app or website.
- Go to the IPO section.
- Select Jindal Supreme (India) IPO.
- Enter the number of lots you want to apply for.
- Select the bid price. Retail investors can generally choose Cut-off when available.
- Enter your valid UPI ID.
- Submit the IPO application.
- Open your UPI app when the mandate request arrives.
- Approve the mandate using your UPI PIN.
- The application amount will be blocked in your bank account. If shares are allotted, the required amount will be debited; otherwise, the blocked amount will be released.
Prospectus & Documents
Investors can refer to Jindal Supreme (India) Limited's DRHP, RHP and Prospectus for detailed information about the company's business, financial performance, risk factors, IPO structure and utilisation of the issue proceeds. The company provides its IPO documents through its investor-relations section.
Last updated Sep 10, 2026.