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Jindal Supreme (India) IPO Details
Issue Date
16 Sep - 18 Sep'26
Price Band
₹88 - ₹93
Lot Size
161 Shares
IPO Size
₹125 Cr
Listing At
NSE,BSE
Overall Subscription
177.92x
Jindal Supreme (India) IPO Listing Details
Listing On
23 Sep'26
Issue Price
₹93
Listed Price
--
Retail Gain/Listing Gain
--
Schedule of Jindal Supreme (India) IPO
IPO Open Date
16/09/2026
IPO Close Date
18/09/2026
Basis of Allotment
21/09/2026
Refund Initiation
22/09/2026
Credit of Shares
22/09/2026
Listing on exchange
23/09/2026
Jindal Supreme (India) IPO Subscription Status Live
(Last updated on 18 Sep 2026 04:45 PM)
Day | Total | QIB | Retail | NII |
|---|---|---|---|---|
Day 1 16-Sep-2026 | 5.2x | 1.02x | 11.43x | 6.62x |
Day 2 17-Sep-2026 | 31.01x | 12.49x | 39.13x | 36.77x |
Day 3 18-Sep-2026 | 177.92x | 126.41x | 143.4x | 327.14x |
About Jindal Supreme (India) IPO
The Jindal Supreme (India) Limited IPO, a mainboard IPO, opens on Wednesday, September 16, 2026 and closes on Friday, September 18, 2026. The allotment of shares will take place on Monday, September 21, 2026. The credit of shares to the demat account will take place on Tuesday, September 22, 2026. The initiation of refunds will take place on Tuesday, September 22, 2026. The listing of shares will take place on Wednesday, September 23, 2026.
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 1,07,41,149 shares aggregating up to ₹100 crore. The offer for sale portion includes up to 26,86,851 shares of ₹10 aggregating up to ₹25 crore. The total number of shares and aggregate amount are up to 1,34,28,000 shares aggregating up to ₹125 crore.
Jindal Supreme (India) Limited IPO's price band is set at ₹88 to ₹93 per share. The lot size for an application is 161. The minimum amount of investment required by a retail investor is ₹14,973 (161 shares) based on the upper price
Jindal Supreme (India) Limited manufactures MS black pipes, galvanized pipes and tubes, metal beam crash barriers, and GI tubular poles from a single integrated facility at Hisar, Haryana.
Objectives of Jindal Supreme (India) IPO
- Repayment or pre-payment, in full or in part, of certain outstanding borrowings availed by the company.
- General corporate purposes.
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Jindal Supreme (India) IPO Review
indal Suprem IPO is coming up, and here are 5 important points investors should know about the company and its IPO.
The IPO has an issue size of ₹124.88 crore, comprising 80% fresh issue and 20% OFS. The OFS is being offered by VVJ Enterprise Private Limited, a promoter-group entity. However, main promoter Abhishek Jindal, who holds around 81% stake pre-IPO, is not selling his shares.
The fresh issue of around ₹100 crore will primarily be used for debt repayment, with approximately ₹71 crore allocated for this purpose. The company's Debt-to-Equity ratio stands at 1.32, and debt repayment is expected to reduce annual interest costs from around ₹9 crore to ₹2.5 crore.
Jindal Supreme IPO | 5 Things You Should Know Before Applying
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Jindal Supreme (India) IPO Valuation
Detail | Information |
|---|---|
Upper Price Band | ₹93 |
Fresh Issue | Up to 1,07,41,149 shares (₹100 crore) |
Offer for Sale | Up to 26,86,851 shares (₹25 crore) |
EPS Diluted (in ₹) for FY 26 | 5.59 |
IPO Lot Size
Application | Lots | Shares | Amount |
|---|---|---|---|
Individual investors (Retail) (Min) | 1 | 161 | ₹14,973 |
Individual investors (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 |
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 |
Anchor Investor Allocation for Jindal Supreme IPO
Rank | Anchor Investor | No. of Shares | Anchor Portion (%) | Amount (Cr) |
|---|---|---|---|---|
1 | Craft Emerging Market Fund PCC - Arbitrage Strategy Fund | 13,40,104 | 33.26% | 12.46 |
2 | Craft Emerging Market Fund PCC-Citadel Capital Fund | 10,75,319 | 26.69% | 10.00 |
3 | Minerva Emerging Opportunities Fund Limited | 5,37,659 | 13.35% | 5.00 |
4 | Ekamya Pragati Scheme - I | 5,37,659 | 13.35% | 5.00 |
5 | Craft Emerging Market Fund PCC- Elite Capital Fund | 5,37,659 | 13.35% | 5.00 |
Note: The above table shows the top five anchor investors in the Jindal Supreme IPO based on their percentage share of the Anchor Investor Portion.
Industry Outlook
Steel pipes and tubes are a core downstream segment of the steel sector. Demand is driven by construction, water management, power generation, oil and gas transmission, and renewable energy. The Indian steel pipes and tubes market was estimated at USD 14,415.83 million in 2026 and is projected to reach approximately USD 23,932.99 million by 2036, a compound annual growth rate of 5.20% over the period. Government infrastructure spending on urban water supply, highways, and industrial corridors anchors this demand.
The wider global market is large. It stood at USD 245,999.02 million in 2026 and is projected to reach USD 395,563.29 million by 2036, reflecting a CAGR of 4.86%. China, India, and Japan account for a significant share of ERW and seamless pipe output. India ranks among the world’s largest producers and consumers of steel pipes and tubes. Domestic steel supply supports this trajectory. India’s finished steel production rose from 113.597 MT in Fiscal 2022 to 146.688 MT in Fiscal 2025, while consumption climbed from 105.752 MT to 152.129 MT over the same period.
About Jindal Supreme (India)
Jindal Supreme (India) Limited manufactures and supplies steel pipes and tubes for infrastructure and industrial applications. Its portfolio spans MS black pipes and tubes, galvanized pipes and tubes, metal beam crash barriers, and GI tubular poles, made in dimensions from 0.5 inch to 10 inch. Products serve water supply and plumbing, infrastructure and construction, roads and highways, bridges, oil and gas, chemicals, and rural electrification. Manufacturing runs on German ERW and galvanizing technology at a single integrated site.
Strengths of Jindal Supreme (India)
- Diverse Product Portfolio with ERW, seamless, galvanized and pre galvanized pipes.
- Strong Backward Integration supporting cost control and consistent quality.
- Advanced Manufacturing Capabilities with modern production and finishing technologies.
- Strong Regulatory Compliance with BIS, ASTM and API standards.
- Extensive Distribution Network enabling wide domestic and export reach.
- Strong Brand Recognition and established market credibility.
- High Operational Efficiency through automation, ERP systems and supply chain optimization.
Risks of Jindal Supreme (India)
- High Capital Intensity requiring significant investment in manufacturing facilities and modern equipment.
- Raw Material Price Volatility affecting margins due to fluctuations in steel and zinc prices.
- Energy Intensive Manufacturing leading to high power consumption and elevated operating costs.
- Fragmented Market with several unorganized players limiting consolidation and efficiency gains.
- Dependence on Skilled Labour requiring trained manpower for efficient operation of advanced technologies.
Jindal Supreme (India) Financials
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Year | Year Data |
|---|---|
FY24 | 645.44 |
FY25 | 586.4 |
FY26 | 675.39 |
Peer Comparison
Company Name | Revenue from Operations (Cr) | EPS (₹) | P/E Ratio | RoNW (%) |
|---|---|---|---|---|
Jindal Supreme (India) Limited | 675.39 | 5.59 | - | 26.28% |
Vibhor Steel Tubes Limited | 1149.35 | 4.64 | 23.06 | 4.57% |
Sambhv Steel Tubes Limited | 2413.24 | 1.81 | 65.55 | 18.35% |
Hi-Tech Pipes Limited | 4200.07 | 3.77 | 22.31 | 6.07% |
Notes: (1) P/E ratio is calculated based on the market price of equity shares on BSE as on August 11, 2026, divided by earnings per share based on Fiscal 2026.
(2) RoNW: return on net worth is calculated as profit after tax divided by average net worth.
(3) The figures for the Company are based on the restated financial results for Fiscal 2026. The figures for the peer group are based on audited results for Fiscal 2026.
Anchor Investor Bidding Date
Tuesday, September 15, 2026
IPO Registrar and Book Running Lead Managers
Registrar Details
Bigshare Services Private Limited
Email: ipo@bigshareonline.com
Tel No: 022 - 6263 8200
Book Running Lead Manager
Sarthi Capital Advisors Private Limited
Jindal Supreme (India) Contact Details
9th KM, O P Jindal Marg, Hisar Cantt, Hisar - 125006, Haryana
Email: cs@jindalsupreme.com
Phone: 016 6223 6500
Jindal Supreme (India) Business Model
The company earns its revenue through the manufacture and sale of steel pipes, tubes, crash barriers, and GI tubular poles to institutional and industrial buyers. Direct sales to infrastructure contractors and industrial customers contributed 68.18% of revenue from operations in Fiscal 2026, while the dealer network across Northern India contributed 31.82%. Value-added products such as metal beam crash barriers and GI tubular poles support a richer sales mix, and backward integration across sourcing, forming, welding, and galvanization helps control input quality and cost.
Jindal Supreme (India) Growth Trajectory
Jindal Supreme (India) Limited's Total Income for FY26 was ₹675.94 crore, whereas in FY25 and FY24 it was ₹604.74 crore and ₹650.88 crore, respectively.
The Profit After Tax for FY26 was ₹22.53 crore, whereas in FY25 and FY24 it was ₹24.27 crore and ₹12.87 crore, respectively.
Their EBITDA for FY26 was ₹41.63 crore, whereas in FY25 and FY24 it was ₹25.92 crore and ₹21.10 crore, respectively.
Jindal Supreme (India) Market Position
Jindal Supreme (India) Limited operates from an integrated 16-acre facility at Hisar, Haryana, and sells mainly across Northern India through 53 dealers and direct institutional relationships. Capacity spans 90,000 MTPA of MS black pipes, 45,000 MTPA of galvanized pipes, 24,000 MTPA of crash barriers, and 12,000 MTPA of GI tubular poles, supporting infrastructure, water, and road-safety demand.
As of 31 March 2026, the company's Total Income, Profit After Tax, and EBITDA were ₹675.94 crore, ₹22.53 crore, and ₹41.63 crore, respectively.
Jindal Supreme (India) Profit and Loss Statement (in ₹ crore)
Parameter | FY 26 | FY 25 | FY 24 |
|---|---|---|---|
Total Income | 675.94 | 604.74 | 650.88 |
Profit Before Tax | 30.15 | 32.39 | 15.07 |
Profit After Tax | 22.53 | 24.27 | 12.87 |
EPS (Diluted) ₹ | 5.59 | 6.02 | 3.20 |
EBITDA | 41.63 | 25.92 | 21.10 |
Jindal Supreme (India) Limited Balance Sheet (in ₹ crore)
Parameter | FY 26 | FY 25 | FY 24 |
|---|---|---|---|
Profit Before Tax | 30.15 | 32.39 | 15.07 |
Net Cash from Operating Activities | (5.69) | 5.74 | 20.20 |
Net Cash from Investing Activities | (9.86) | 11.89 | (43.05) |
Net Cash from Financing Activities | 15.54 | (17.66) | 22.87 |
Cash & Cash Equivalents | 0.01 | 0.01 | 0.04 |
Note: () denotes negative
How to apply for Jindal Supreme (India) 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.
Jindal Supreme (India) IPO FAQs
The Jindal Supreme (India) IPO opens for subscription from 16-09-2026 to 18-09-2026, with a total issue size of ₹125 Cr. The IPO price band is ₹88 to ₹93 per share with a lot size of 161. The company aims to list the shares on BSE & NSE on 23-09-2026.
The Jindal Supreme (India) IPO will open for subscription on 16-09-2026 and will close on 18-09-2026 for investors.
The minimum lot size for the Jindal Supreme (India) IPO is 161 equity shares, requiring a minimum investment of ₹14973 for retail investors applying in the IPO.
The price band of the Jindal Supreme (India) IPO has been fixed at ₹88 to ₹93 per equity share.
You can apply for the Jindal Supreme (India) IPO online through the Kotak Neo Website or the Kotak Neo App using UPI or ASBA during the IPO subscription period.
Jindal Supreme (India) IPO allotment will take place on 21-09-2026.
You can check the Jindal Supreme (India) 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.
Jindal Supreme (India) shares will list on the stock exchanges on 23-09-2026.
You can find detailed information about the Jindal Supreme (India) IPO, including its business operations, financial performance, risk factors, and IPO objectives, in the Draft or Red Herring Prospectus (RHP).
Abhishek Jindal is the Chairman & Managing Director of Jindal Supreme (India) 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.
