1,016 Views| 24 Oct 2026
J Pan Tubular Components Pvt IPO Details
Issue Date
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Price Band
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Lot Size
-- Shares
IPO Size
N/A
Listing At
BSE, NSE
Overall Subscription
--x
About J Pan Tubular Components IPO
The J Pan Tubular Components IPO, a mainboard IPO, opens on TBA and closes on TBA. The allotment of shares will take place on TBA. The credit of shares to the demat account will take place on TBA. The initiation of refunds will take place on TBA. The listing of shares will take place on TBA.
The equity shares offered through the IPO are proposed to be listed on the BSE and the NSE.
The offer consists of both a fresh issue and an offer for sale component. The fresh issue will include up to 49,20,000 shares aggregating up to ₹TBA crores. The offer for sale portion includes up to 2,60,000 shares aggregating up to ₹TBA crores. The total number of shares and aggregate amount are yet to be finalised.
J Pan Tubular Components IPO's price band is set at ₹TBA to ₹TBA per share. The lot size for an application is TBA. The minimum amount of investment required by a retail investor is ₹TBA (TBA shares) (based on upper price).
The Company manufactures and supplies tubular, forged, and machined components to original equipment manufacturers across white goods, electrical equipment manufacturing, tubing components and fittings, and metal manufacturing.
Objectives of J Pan Tubular Components IPO
- Funding the capital expenditure requirements towards expansion of the Sanand Facility at Sanand, Gujarat.
- Funding the capital expenditure requirements towards setting up of a new manufacturing facility at Sri City, Andhra Pradesh.
- Repayment and/or pre-payment, in full or in part, of borrowing availed by the Company.
- General corporate purposes.
J Pan Tubular Components IPO Valuation
Detail | Information |
|---|---|
Upper Price Band | TBA |
Fresh Issue | Up to 49,20,000 shares (₹TBA crores) |
Offer for Sale | Up to 2,60,000 shares (₹TBA crores) |
EPS Diluted (in ₹) for FY 26 | 11.12 |
J Pan Tubular Components Pvt IPO Lot Size
Application | Lots | Shares | Amount |
|---|---|---|---|
Individual investors (Retail) (Min) | TBA | TBA | TBA |
Individual investors (Retail) (Max) | TBA | TBA | TBA |
S-HNI (Min) | TBA | TBA | TBA |
S-HNI (Max) | TBA | TBA | TBA |
B-HNI (Min) | TBA | TBA | TBA |
IPO Share Offer and Subscription Details
Investor Category | Shares Offered |
|---|---|
QIBs | Not more than 50% of the net offer |
Non-institutional Investors (NIIs) | Not less than 15% of the net offer |
Retail-individual Investors (RIIs) | Not less than 35% of the net offer |
Industry Outlook
Tubing components and fittings carry fluids, gases, and refrigerants across HVAC, refrigeration, automotive, and industrial systems. Copper, brass, and aluminium dominate the material mix because of their thermal conductivity, corrosion resistance, and pressure-handling capability. Between FY 2021 and FY 2026, the Indian tubing components and fittings market expanded from ₹144.9 billion to ₹202.2 billion, a compound annual growth rate of 6.9%.
D&B Research estimates the Indian copper and brass tubing and fittings market will grow from ₹202.2 billion in FY 2026 to ₹270.1 billion by FY 2030, passing through ₹217.4 billion, ₹233.7 billion, and ₹251.2 billion in the intervening years.
About J Pan Tubular Components
The Company manufactures tubular, forged, and machined components for original equipment manufacturers. Its customers include LG Electronics (India) Limited, Haier Appliances (India) Private Limited, Bosch Home Comfort India Limited, Daikin Airconditioning India Private Limited, and Ecofrost Technologies Private Limited. During Fiscal 2026 it served 61 customers, of which 19 had been associated with the Company in each of the three preceding Fiscals.
Four product lines make up the portfolio. HVAC components contributed ₹364.14 crores, or 77.84% of revenue from operations, in Fiscal 2026, followed by VRV components at 13.94%, refrigerator components at 5.54%, and brass components at 2.68%. HVAC components are available in outside diameter ranges from 1.80 mm to 108 mm and wall thicknesses from 0.4 mm to 3.2 mm, manufactured to customer specification. Brass, copper, and aluminium are the base metals.
Manufacturing runs across five sites — Noida in Uttar Pradesh, Neemrana in Rajasthan, Pune in Maharashtra, Bengaluru in Karnataka, and Sanand in Gujarat.
Strengths of J Pan Tubular Components
- Focus on manufacturing of tubular components i.e. HVAC components, refrigerator components, brass components and VRV components.
- Strategic location of our Manufacturing Facilities.
- Established relationship with customers & geographical footprint.
- Established relationship with suppliers.
- Advanced manufacturing infrastructure and integrated brass processing capabilities.
- Wide product portfolio catering to various end user industries.
Risks of J Pan Tubular Components
- Significant dependent on HVAC components.
- Availability and cost of raw materials.
- Heavy Dependence on White goods (HVAC & Refrigerator) industries.
- Demand for our products is subject to seasonality and cyclicality.
- Strategic location of our Manufacturing Facilities.
- Unexpected loss, shutdown or slowdown of operations at any of our Manufacturing Facility.
J Pan Tubular Components Financials (in ₹ crores)
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Year | Year Data |
|---|---|
FY24 | 301.7 |
FY25 | 389.08 |
FY26 | 468.09 |
Peer Comparison
Company Name | Revenue from Operations (Cr) | P/E Ratio | EPS (Diluted) (₹) | NAV per share (₹) |
|---|---|---|---|---|
J Pan Tubular Components — Standalone | 468.09 | TBA | 11.12 | 59.76 |
The Anup Engineering Limited | 822.29 | 41.97 | 54.99 | 344.96 |
KRN Heat Exchanger and Refrigeration Limited | 600.06 | 100.04 | 12.30 | 92.35 |
Note: All the financial information for listed industry peers mentioned above is on a consolidated basis (unless otherwise available only on standalone basis) and is sourced from the annual reports / annual results as available of the respective company for the Fiscal 2026 submitted to stock exchanges.
Anchor Investor Bidding Date: TBA
IPO Registrar
Bigshare Services Private Limited
Phone: +91 22 6263 8200
Email: ipo@bigshareonline.com
Book Running Lead Manager
Hem Securities Limited
J Pan Tubular Components Contact Details
B-2/31, 32 & 42, Site-B, Surajpur Industrial, Area, Greater Noida,
Gautam Buddha, Nagar – 201306, Uttar Pradesh, India.
E-mail Id: cs@jpantubular.com
Telephone: +91-120-25
J Pan Tubular Components Business Model
The company earns its revenue through the manufacture and sale of tubular, forged, and machined components supplied to original equipment manufacturers on a purchase-order basis. Products are made to customer-specific sizes, dimensions, configurations, and metal grades, and are priced against those specifications. White goods customers air-conditioner and refrigerator manufacturers accounted for 93.09% of revenue from operations in Fiscal 2026, with electrical equipment manufacturing contributing 5.36% and the balance coming from tubing components and fittings, metal manufacturing, testing and calibration, energy, plastic, and rubber.
J Pan Tubular Components Growth Trajectory
J Pan Tubular Components Limited's Total Income for FY 26 was ₹469.58 crores, whereas in FY 25 and FY 24 it was ₹390.45 crores and ₹302.56 crores, respectively.
The Profit After Tax for FY 26 was ₹17.56 crores, whereas in FY 25 and FY 24 it was ₹20.48 crores and ₹8.57 crores, respectively.
Their EBITDA for FY 26 was ₹39.79 crores, whereas in FY 25 and FY 24 it was ₹39.23 crores and ₹20.56 crores, respectively.
J Pan Tubular Components Market Position
The Company operates five manufacturing facilities across India Surajpur Industrial Area in Greater Noida, Neemrana in Rajasthan, Ranjangaon in Pune, Bengaluru in Karnataka, and Sanand in Gujarat covering a total area of 32,351.84 square meters. Maharashtra contributed 40.49% of domestic sales in Fiscal 2026, followed by Rajasthan at 29.33% and Uttar Pradesh at 14.43%. The Bengaluru site operates under Export Oriented Unit infrastructure.
The client base comprises 61 customers as of Fiscal 2026, including LG Electronics (India) Limited, Haier Appliances (India) Private Limited, Bosch Home Comfort India Limited, Daikin Airconditioning India Private Limited, and Ecofrost Technologies Private Limited. As of 31 March 2026, the company's Total Income, Profit After Tax, and EBITDA were ₹469.58 crores, ₹17.56 crores, and ₹39.79 crores, respectively.
J Pan Tubular Components Profit and Loss Statement (in ₹ crores)
Parameter | FY 26 | FY 25 | FY 24 |
|---|---|---|---|
Total Income | 469.58 | 390.45 | 302.56 |
Profit Before Tax | 24.35 | 27.65 | 10.91 |
Profit After Tax | 17.56 | 20.48 | 8.57 |
EPS (Diluted) ₹ | 11.12 | 13.51 | 5.68 |
EBITDA | 39.79 | 39.23 | 20.56 |
Note: The financial data for FY26 and FY24 is presented on a standalone basis, while the financial data for FY25 is presented on a consolidated basis.
J Pan Tubular Components Balance Sheet (in ₹ crores)
Parameter | FY 26 | FY 25 | FY 24 |
|---|---|---|---|
Profit Before Tax | 24.35 | 27.65 | 10.91 |
Net Cash from Operating Activities | 11.57 | 12.07 | 16.72 |
Net Cash from Investing Activities | (27.17) | (27.06) | (18.25) |
Net Cash from Financing Activities | 15.69 | 15.16 | 0.19 |
Closing Cash & Cash Equivalents | 0.45 | 0.48 | 0.31 |
Note: () denotes negative
How to apply for J Pan Tubular Components IPO?
- Step 1: Log in to your Kotak Neo Demat account to access IPO investments. Next, select the current IPO section.
- Step 2: Specify IPO details. Enter the number of lots and the price you wish to apply for.
- Step 3: Enter UPI ID. After entering your UPI ID, click submit. This will place your bid with the exchange.
- Step 4: Mandate Notification. Your UPI app will receive a mandate notification to block funds.
- Step 5: Approve Request. Your funds will be blocked once you approve the mandate request on your UPI.
J Pan Tubular Components Pvt IPO FAQs
The J Pan Tubular Components Pvt IPO opens for subscription from [-] to [-], with a total issue size of [-]. The IPO price band is ₹[-] per share with a lot size of [-]. The company aims to list the shares on BSE & NSE on [-].
The J Pan Tubular Components Pvt IPO will open for subscription on [-] and will close on [-] for investors.
The minimum lot size for the J Pan Tubular Components Pvt IPO is [-] equity shares, requiring a minimum investment of ₹[-] for retail investors applying in the IPO.
The price band of the J Pan Tubular Components Pvt IPO has been fixed at ₹[-] per equity share.
You can apply for the J Pan Tubular Components Pvt IPO online through the Kotak Neo Website or the Kotak Neo App using UPI or ASBA during the IPO subscription period.
J Pan Tubular Components Pvt IPO allotment will take place on [-].
You can check the J Pan Tubular Components Pvt IPO allotment status online on the registrar’s website or on the NSE and BSE IPO allotment pages using your application number, PAN, or demat account details.
J Pan Tubular Components Pvt shares will list on the stock exchanges on [-].
You can find detailed information about the J Pan Tubular Components Pvt IPO, including its business operations, financial performance, risk factors, and IPO objectives, in the Draft or Red Herring Prospectus (RHP).
Jignesh Panchal is the Chairman and Managing Director of J Pan Tubular Components Limited.
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This article is for informational purposes only and does not constitute financial advice. It is not produced by the desk of the Kotak Securities Research Team, nor is it a report published by the Kotak Securities Research Team. The information presented is compiled from several secondary sources available on the internet and may change over time. Investors should conduct their own research and consult with financial professionals before making any investment decisions. Read the full disclaimer here.
Investments in securities market are subject to market risks, read all the related documents carefully before investing. Brokerage will not exceed SEBI prescribed limit. The securities are quoted as an example and not as a recommendation. SEBI Registration No-INZ000200137 Member Id NSE-08081; BSE-673; MSE-1024, MCX-56285, NCDEX-1262.
