Jindal Supreme IPO has entered its first day of bidding today, 16 September. The ₹125 crore IPO will remain open for subscription till Friday, 18 September.
Ahead of the issue, Jindal Supreme IPO latest grey market premium (GMP) stood at ₹27, suggesting an estimated listing gain of 29.03%. According to InvestorGain, the IPO was commanding a GMP of ₹27. With the upper price band fixed at ₹93 per share, the estimated listing price works out to ₹120. This indicates a potential listing premium of 29.03% over the issue price.
Jindal Supreme IPO subscription status
The bidding for Jindal Supreme IPO will begin at 10:00 am on Wednesday, 16 September, 2026.
Jindal Supreme IPO review
Brokerage firm Swastika Invesmart has given ‘subscribe’ rating to the Jindal Supreme IPO, saying that the company operates in a low-margin commodity market, the shift into value-added crash barriers combined with aggressive balance sheet de-leveraging post-IPO creates a solid fundamental case for medium-term tracking.
“Established steel-pipe/tube manufacturer with a diversified product mix (MS pipes, GI pipes, crash barriers, tubular poles) and a 50+ year operating history in Hisar. Priced at a discount to peers, with strong RoNW. Thin absolute margins (PAT margin ~3–4%) and heavy dependence on steel/raw-material cost movements, plus declining GI-pipe capacity utilisation, warrant monitoring. Transitioning towards higher-margin crash barriers (recently expanded capacity by 75%) and GI poles provides tailwinds from highway and utility tendering,” the firm said in a note.
Jindal Supreme IPO details
Jindal Supreme IPO is a book-built issue worth ₹124.88 crore. The offering comprises a fresh issue of 1.07 crore equity shares aggregating to ₹99.89 crore and an offer for sale (OFS) of 26.87 lakh shares valued at ₹24.99 crore.
The company fixed the IPO price band at ₹88– ₹93 per share. Retail investors could bid for a minimum of 161 shares, requiring an investment of ₹14,973 at the upper end of the price band.
The company intends to utilise the net proceeds from the issue to partially repay or pre-pay, either fully or partly, certain outstanding borrowings along with the accrued interest, amounting to ₹71 crore. The remaining proceeds will be utilised for general corporate purposes.
The allotment of shares for the Jindal Supreme (India) IPO is expected to be finalised on Monday, September 21. The shares are scheduled to be listed on both the NSE and BSE, with the tentative listing date set for Wednesday, September 23.
Sarthi Capital Advisors Pvt. Ltd. is the book running lead manager for the issue, while Bigshare Services Pvt. Ltd. is acting as the registrar.
Established in March 1974, Jindal Supreme (India) Limited manufactures and supplies steel pipes, tubes and other steel products for infrastructure and industrial applications. With more than five decades of operations, the company’s product portfolio includes Mild Steel (MS) black pipes and tubes, Galvanized Iron (GI) tubular poles, galvanized pipes and metal beam crash barriers.
The company manufactures these products in various sizes and specifications in line with applicable Indian Standards. Its products are used in a range of sectors, including water supply and plumbing, roads and highways, bridges, oil and gas, chemicals, infrastructure and construction, agriculture, and rural electrification.
Disclaimer: This story is for educational purposes only. Please consult with an investment advisor before making any investment decisions.
