Jindal Supreme India IPO To Open On 16 September; Shares Likely To List On 23 September
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Jindal Supreme India will open its IPO for subscription on 16 September. The issue includes a fresh share sale and an offer-for-sale by promoter entity VVJ Enterprise. The steel pipes maker plans to use ₹71 crore of fresh proceeds to repay loans.
Jindal Supreme India is set to open its initial public offering (IPO) on 16 September, with the shares likely to list on the stock exchanges on 23 September. The anchor book will open for a day on September 15, while the public issue will close on September 18.
The company had refiled its draft IPO papers with the Securities and Exchange Board of India (SEBI) in April 2026. The capital markets regulator approved the issue in July.
The Jindal Supreme IPO comprises a fresh issue and an offer-for-sale (OFS) by promoter entity VVJ Enterprise. The IPO allotment is expected to be finalised by 21 September. The company is expected to announce the price band later this week.
Jindal Supreme IPO: Key Details
Jindal Supreme, which makes steel pipes and tubes, caters to sectors including water supply and plumbing, infrastructure, construction, roads and highways, oil and gas, chemicals, agriculture and rural electrification. Its listed peers include Vibhor Steel Tubes, Sambhv Steel Tubes and Hi-Tech Pipes.
Jindal Supreme IPO Issue Structure And Timeline
IPO opening date | 16 September 2026 |
IPO closing date | 18 September 2026 |
Anchor book | 15 September 2026 |
Expected allotment | 21 September 2026 |
Expected listing | 23 September 2026 |
Fresh issue | 1.07 crore shares |
OFS | 26.86 lakh shares |
Merchant banker | Sarthi Capital Advisors |
Fresh Issue Proceeds To Reduce Debt
Of the ₹71 crore in net proceeds from the fresh issue, Jindal Supreme plans to use the funds to repay loans. The company had total borrowings of ₹92.46 crore as of June 2026. The balance of the fresh issue proceeds will be used for general corporate purposes.
Proceeds from the OFS will go to the selling shareholder, VVJ Enterprise.
Revenue Rises Despite Profit Decline
Jindal Supreme reported revenue of ₹675.4 crore in FY26, up 15.2% from ₹586.4 crore a year earlier. Profit, however, fell 7.2% to ₹22.5 crore, compared with ₹24.3 crore in FY25, primarily due to lower other income.
For the quarter ended June 2026, revenue stood at ₹190.9 crore, while profit was ₹8.2 crore.
The IPO comes as Jindal Supreme seeks to strengthen its balance sheet while continuing to operate across multiple industrial and infrastructure-linked end markets.
Also Read - Adani Airports To Raise ₹9,825 Crore From Global Investors At $18 Billion Valuation
This article is for informational purposes only and should not be considered investment advice from Kotak Neo. For compliance T&C and disclaimers, Visit www.kotakneo.com/disclaimer
Vishwa has spent 10+ years across fintech and FMCG doing what most people miss, connecting the dots, catching trends before they trend, and finding the angle nobody else thought to ask about.
At Kotak Neo, she drives content strategy for neoshorts, Kotak News Desk, and Investing Guide, turning market noise into something worth reading.
When she's not decoding markets, she trades charts for canvases, chasing art, painting, and architecture across cities she's yet to explore.
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