Jindal Supreme (India) IPO: Price Band, Lot Size, Financials & Review
Jindal Supreme (India) IPO listed on BSE & NSE on Wed, 23 Sep 2026. The issue was subscribed 181.07x overall.
- Open Date
- 16 Sep 2026
- Close Date
- 18 Sep 2026
Last updated
- Price band
- ₹88 – ₹93
- Lot size
- 161 shares
- Min. investment
- ₹14,973
- Issue size
- ₹124.88 Cr
- Last GMP
- +₹29
- Subscribed
- 🔥 181.07x
Jindal Supreme (India) IPO details
Jindal Supreme (India) IPO is a ₹124.88 Cr book-building IPO on the Mainboard segment, listing on BSE & NSE. It combines a fresh issue of ₹99.89 Cr (79.99%) with an offer for sale of ₹24.99 Cr (20.01%) by existing shareholders. Only the fresh issue money goes to the company.
The issue was open from Wed, 16 Sep 2026 to Fri, 18 Sep 2026. Allotment was finalised on Mon, 21 Sep 2026, and the shares listed on BSE & NSE on Wed, 23 Sep 2026.
The price band is ₹88 to ₹93 per share and the lot size is 161 shares, so the minimum retail application is ₹14,973. Retail investors can apply for up to 13 lots (2,093 shares, ₹1,94,649).
Bigshare Services Pvt Ltd is the registrar, and Sarthi Capital Advisors Private Limited is the book running lead manager.
Grey market premium (GMP)
Day-wise GMP →The last Jindal Supreme (India) IPO GMP before listing was +₹29 (+31.18% against the upper price band of ₹93), implying an estimated listing price of ₹122. Across 10 days of tracking, GMP ranged from +₹25 (16 Sep) to +₹30 (17 Sep).
| Last GMP | +₹29 |
|---|---|
| GMP vs upper band | +31.18% |
| Estimated listing price | ₹122 |
| Highest (17 Sep) | +₹30 |
| Lowest (16 Sep) | +₹25 |
Grey market trading is unofficial and unregulated. GMP is a sentiment indicator, not a guarantee of the listing price. See the Jindal Supreme (India) IPO day-wise GMP.
Subscription
Day-wise subscription →Jindal Supreme (India) IPO was subscribed 181.07x overall: QIB 126.41x, NII 327.99x and retail 149.34x.
| Category | Subscribed |
|---|---|
| QIB | 126.41x |
| NII | 327.99x |
| └ bNII (above ₹10 lakh) | 304.18x |
| └ sNII (₹2–10 lakh) | 375.61x |
| Retail | 149.34x |
| Total | 181.07x |
Final figures at the close of bidding on 18 Sep 2026. Category-wise bids, application-wise breakup and allotment chances are on the Jindal Supreme (India) IPO day-wise and category-wise subscription page.
Share reservation by category
| Category | Shares offered | Share of issue |
|---|---|---|
| Anchor Investors | 40,28,400 | 30.00% |
| Qualified Institutions | 26,85,600 | 20.00% |
| Non-Institutional | 20,14,200 | 15.00% |
| └ BNII | 13,42,800 | 5.00% |
| └ SNII | 6,71,400 | 10.00% |
| Retail Investors | 46,99,800 | 35.00% |
| Total | 1,34,28,000 | 100.00% |
Shares offered include the anchor investor portion, which is allotted a day before the issue opens. Subscription figures exclude anchors, so category sizes on the subscription page are smaller.
Jindal Supreme (India) IPO lot size
| 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 |
Amounts at the upper end of the price band.
Issue structure and valuation
It combines a fresh issue of ₹99.89 Cr (79.99%) with an offer for sale of ₹24.99 Cr (20.01%) by existing shareholders. Only the fresh issue money goes to the company.
At the upper price band of ₹93, the issue is priced at 16.64x pre-issue earnings and 14.33x post-issue earnings per share.
Listed peers with positive earnings trade at a median P/E of 23.06x (3 companies).
Promoter holding falls from 100.00% before the issue to 73.68% after it.
| EPS (pre-issue) Latest earnings per share before the issue | ₹5.59 |
|---|---|
| P/E (pre-issue) Upper price band ÷ pre-issue EPS | 16.64x |
| EPS (post-issue) EPS on the enlarged share capital | ₹6.49 |
| P/E (post-issue) Upper price band ÷ post-issue EPS | 14.33x |
| Promoter holding (pre-issue) | 100.00% |
| Promoter holding (post-issue) | 73.68% |
Jindal Supreme (India) Limited financials
Between 31 Mar 2025 and 31 Mar 2026, Income rose from ₹604.74 Cr to ₹675.94 Cr, and profit after tax fell from ₹24.27 Cr to ₹22.53 Cr. The PAT margin for 31 Mar 2026 was 3.33%.
| Period ended | 30 Jun 2026 | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|---|
| Assets | 232.65 | 248.41 | 200.33 | 181.16 |
| Total Income | 191.09 | 675.94 | 604.74 | 650.88 |
| Profit After Tax | 8.28 | 22.53 | 24.27 | 12.87 |
| EBITDA | 13.76 | 41.63 | 25.92 | 21.11 |
| Net Worth | 105.02 | 96.82 | 74.64 | 50.31 |
| Reserve & Surplus | 64.56 | 56.28 | 72.17 | 47.90 |
| Total Borrowings | 92.46 | 119.87 | 95.84 | 104.92 |
₹ in crore, as stated in the prospectus.
Key performance indicators
| KPI | Jun 2026 | Mar 2026 | Mar 2025 | Mar 2024 |
|---|---|---|---|---|
| ROE % | 8.20 | 26.28 | 38.85 | 27.98 |
| ROCE % | 6.14 | 16.78 | 22.37 | 13.92 |
| Debt / Equity | 0.88 | 1.24 | 1.28 | 2.09 |
| RoNW % | 8.20 | 26.28 | 38.85 | 27.98 |
| Pat Margin % | 4.33 | 3.33 | 4.01 | 1.98 |
Peer comparison
| Company | Face value | P/E | EPS (basic) | EPS (diluted) | RoNW | NAV |
|---|---|---|---|---|---|---|
| Jindal Supreme (India) Ltd | 10 | — | 5.59 | 5.59 | 26.28% | 0.00 |
| Vibhor Steel Tubes Ltd | 10 | 23.06 | 4.64 | 4.64 | 4.57% | 0.00 |
| Sambhv Steel Tubes Ltd | 10 | 65.55 | 1.81 | 1.81 | 18.35% | 0.00 |
| Hi-Tech Pipes Limited | 1 | 22.31 | 3.77 | 3.77 | 6.07% | 0.00 |
From the prospectus. P/E is shown as — when earnings are zero or negative, or not reported for the issuer before listing.
Objectives
The company intends to allocate the net proceeds from the offering to the following objectives.
| Sr | Objective |
|---|---|
| 1 | Repayment/pre-payment, in full or in part, of certain Outstanding borrowings availed by our Company |
| 2 | General Corporate Purposes |
About Jindal Supreme (India) Limited
Incorporated in March 1974, Jindal Supreme (India) Limited (“the Company”) has been engaged in the manufacturing and supply of steel pipes, tubes and other steel products for over five decades. The Company's products cater to a broad range of infrastructure, construction and industrial applications.
The Company's product portfolio comprises Mild Steel (MS) black pipes and tubes, galvanized pipes, metal beam crash barriers and Galvanized Iron (GI) tubular poles. These products are manufactured in various dimensions in accordance with applicable Indian Standards and are used across several end-use sectors, including water supply and plumbing, infrastructure and construction, roads and highways, bridges, oil and gas, chemicals, agriculture and rural electrification, among others.
Over the years, the Company has progressively diversified its product portfolio to capitalize on emerging opportunities in the infrastructure and road safety sectors. During Fiscal 2025, the Company commenced manufacturing W-beam and Thrie-beam metal crash barriers, which are primarily used for road safety applications in highway and infrastructure projects. During Fiscal 2026, the Company further expanded its product portfolio by commencing the manufacture of GI tubular poles, which are used in street lighting, electrification projects and other public utility infrastructure applications.
The Company primarily operates under a business-to-business (B2B) business model, with direct sales to institutional and industrial customers, including infrastructure contractors. In addition, the Company markets and distributes its products through an established dealer network, enabling it to serve a wider customer base and strengthen its presence across its target markets.
Manufacturing Facilities
The Company's manufacturing facility is located in Hisar, Haryana. The facility is equipped with mills, welding plants, galvanizing plants and other manufacturing machinery, supported by an in-house maintenance workshop and testing equipment. These facilities enable the Company to undertake various manufacturing, processing, maintenance and quality-testing activities.
The Company has established a dealer network primarily across the northern states of India. Its distribution strategy is focused on expanding its dealer base, strengthening its presence across existing markets and increasing sales volumes through its existing dealer network.
Dealer and Employee Base
As of June 30, 2026, the Company had 53 dealers and an employee base of 242 employees. The Company continues to focus on expanding its distribution network, increasing customer and dealer engagement, and enhancing its product portfolio to address growing opportunities across infrastructure, construction, road safety and public utility applications.
Promoters
- Abhishek Jindal
Contact details
Jindal Supreme (India) Ltd.
9th KM
O P Jindal Marg
Hisar Cantt
Hisar, Haryana, 125006
Phone: 016 6223 6500
Email: janaksteel@gmail.com
Website: http://www.jindalsupreme.com/
Jindal Supreme (India) IPO FAQs
- What is the Jindal Supreme (India) IPO price band?
- The Jindal Supreme (India) IPO price band is ₹88 to ₹93 per share.
- What is the Jindal Supreme (India) IPO lot size and minimum investment?
- The Jindal Supreme (India) IPO lot size is 161 shares. The minimum retail investment is ₹14,973 for one lot at the upper price band. Retail investors can apply for up to 13 lots (2,093 shares), costing ₹1,94,649.
- When was Jindal Supreme (India) IPO open for subscription?
- Jindal Supreme (India) IPO was open for subscription from Wed, 16 Sep 2026 to Fri, 18 Sep 2026.
- What is the Jindal Supreme (India) IPO subscription status?
- Jindal Supreme (India) IPO was subscribed 181.07x overall: QIB 126.41x, NII 327.99x and retail 149.34x. Day-wise and category-wise figures are on the subscription page.
- What was the Jindal Supreme (India) IPO GMP before listing?
- The last Jindal Supreme (India) IPO GMP before listing was +₹29 (+31.18% against the upper price band of ₹93), implying an estimated listing price of ₹122. Across 10 days of tracking, GMP ranged from +₹25 (16 Sep) to +₹30 (17 Sep). GMP is an unofficial grey market indicator and can change quickly.
- What is the Jindal Supreme (India) IPO allotment date?
- The Jindal Supreme (India) IPO basis of allotment was finalised on Mon, 21 Sep 2026. You can check your allotment status on the Bigshare Services Pvt Ltd website.
- What is the Jindal Supreme (India) IPO listing date?
- Jindal Supreme (India) IPO listed on BSE & NSE on Wed, 23 Sep 2026.
- Is the Jindal Supreme (India) IPO a fresh issue or an offer for sale?
- It combines a fresh issue of ₹99.89 Cr (79.99%) with an offer for sale of ₹24.99 Cr (20.01%) by existing shareholders. Only the fresh issue money goes to the company.
- Who are the registrar and lead managers of the Jindal Supreme (India) IPO?
- The registrar for the Jindal Supreme (India) IPO is Bigshare Services Pvt Ltd, and the book running lead manager is Sarthi Capital Advisors Private Limited.
Data is compiled from the prospectus, stock exchanges and market sources and is for information only. It is not investment advice; read the RHP before applying.