The Jindal Supreme (India) IPO entered its final day of bidding on September 18, 2026. The mainboard IPO opened on September 16 with a price band of ₹88 to ₹93 per share. The issue comprises a fresh issue of ₹99.89 crore and an offer for sale of ₹24.99 crore, taking the total issue size to ₹124.88 crore. The shares are scheduled to list on NSE and BSE on September 23, 2026.
| Particular | Details |
|---|---|
| IPO Name | Jindal Supreme (India) IPO |
| IPO Dates | Sep 16–18, 2026 |
| IPO Type | Mainboard |
| Price Band | ₹88–₹93 |
| Issue Size | ₹124.88 Cr |
| Fresh Issue | ₹99.89 Cr |
| OFS | ₹24.99 Cr |
| Lot Size | 161 Shares |
| Min Investment | ₹14,973 |
| Allotment | Sep 21, 2026 |
| Refund | Sep 22, 2026 |
| Demat Credit | Sep 22, 2026 |
| Listing Date | Sep 23, 2026 |
| Listing | NSE & BSE |
| Registrar | Bigshare Services |
Jindal Supreme IPO GMP Today
The latest reported Jindal Supreme IPO GMP is around ₹25–₹30 per share, depending on the grey-market tracker and time of update. IPOMarkets reported ₹25 on September 17, while IPOWatch and NDTV Profit reported ₹30.
At the upper IPO price of ₹93, a ₹30 GMP indicates an unofficial implied price of around ₹123, while a ₹25 GMP indicates around ₹118.
GMP is an unofficial and unregulated indicator. It can change quickly before listing and does not guarantee the actual listing price.
Jindal Supreme IPO Subscription Status
The Jindal Supreme IPO subscription has received substantial demand during the first two days. According to NSE-linked data reported on September 17, the issue was subscribed 31.50 times overall.
The retail portion was subscribed 39.74 times, NII 37.60 times and QIB 12.50 times by the end of September 17.
| Investor Category | Subscription |
|---|---|
| QIB | 12.50x |
| NII | 37.60x |
| Retail | 39.74x |
| Overall | 31.50x |
The final subscription figure will be available after bidding closes on September 18.
Jindal Supreme IPO Lot Size and Minimum Investment
The Jindal Supreme IPO lot size is 161 shares. At the upper price band of ₹93, one minimum retail application requires ₹14,973.
| Particular | Details |
|---|---|
| Lot Size | 161 Shares |
| Upper Price | ₹93 |
| Minimum Investment | ₹14,973 |
| Face Value | ₹10 |
Jindal Supreme (India) Company Business
Jindal Supreme (India) Limited is a steel pipes and tubes manufacturer based in Hisar, Haryana. The company manufactures products including black steel pipes, galvanized steel pipes, crash barriers and GI tubular poles.
Its products serve infrastructure, construction, industrial and other applications. The company has an established distribution network and operates a manufacturing facility in Haryana with reported installed capacity of approximately 1,71,000 metric tonnes per annum.
The company's product portfolio provides exposure to multiple applications within the steel-pipe and tube market rather than relying on only one finished product category.
Jindal Supreme IPO Manufacturing and Distribution
The company's manufacturing facility is located in Hisar, Haryana, and its distribution network includes 53 dealers across Northern India. The geographic concentration of manufacturing and distribution is therefore an important part of the company's operating profile.
The company supplies steel products through its established dealer network as well as to customers across relevant infrastructure and industrial applications. Its performance is therefore linked partly to construction, infrastructure and broader steel demand.
Jindal Supreme IPO Financial Performance
Jindal Supreme reported total income of approximately ₹675.94 crore in FY26, compared with ₹604.74 crore in FY25. FY26 profit after tax stood at approximately ₹22.53 crore, compared with ₹24.27 crore in FY25.
| Financial Year | Total Income | PAT |
|---|---|---|
| FY24 | ₹650.88 Cr | ₹12.87 Cr |
| FY25 | ₹604.74 Cr | ₹24.27 Cr |
| FY26 | ₹675.94 Cr | ₹22.53 Cr |
The financial history shows revenue movement across the three years, while profit has varied. Investors should therefore consider margins, steel-price cycles, working capital and debt alongside headline revenue.
Jindal Supreme IPO Financial Ratios
Based on the available IPO financial information, FY26 reported RoNW of around 26.28%, ROCE of approximately 16.78% and a debt-to-equity ratio of about 1.24x. The reported NAV was approximately ₹26.07 per share.
At the upper IPO price of ₹93, the post-issue valuation is reported at around 14.3 times earnings based on the relevant IPO financial calculations.
These ratios should be considered alongside the cyclical nature of the steel industry and the company's leverage.
Jindal Supreme IPO Objects of the Issue
The fresh issue is intended primarily to strengthen the company's balance sheet. Approximately ₹71 crore of the fresh proceeds is proposed for repayment or prepayment of certain borrowings. The remaining funds are intended for general corporate purposes.
| Use of IPO Funds | Details |
|---|---|
| Debt Repayment/Prepayment | ₹71 Cr |
| General Corporate Purpose | Balance |
The IPO therefore includes a significant debt-reduction component, while the OFS proceeds will go to the selling shareholders.
Jindal Supreme IPO Strengths
The Jindal Supreme IPO has several notable business characteristics:
- Established steel pipes and tubes manufacturing business.
- Diversified portfolio of steel products.
- Installed manufacturing capacity of around 1,71,000 MTPA.
- Distribution network of 53 dealers.
- Presence in infrastructure and industrial applications.
- Manufacturing facility in Hisar, Haryana.
- IPO proceeds include a substantial debt-repayment component.
- Reported FY26 RoNW of approximately 26.28%.
These points describe the company's business and financial profile and do not indicate future share-price performance.
Jindal Supreme IPO Risks
The Jindal Supreme IPO is exposed to fluctuations in steel and other raw-material prices. Changes in input costs can affect margins if higher costs cannot be passed on to customers.
The company also has geographic concentration because its manufacturing operations are centred in Haryana. According to IPO-related disclosures, the top 10 suppliers account for more than 70% of total raw-material purchases, creating supplier concentration exposure.
Demand for black and galvanized pipes is another important factor, as construction and infrastructure activity can influence order volumes. Debt levels, working-capital requirements and customer concentration should also be monitored.
Jindal Supreme IPO Important Dates
The Jindal Supreme IPO opened on September 16 and closes on September 18, 2026. The basis of allotment is expected on September 21, refunds and demat credit are scheduled for September 22, and the shares are proposed to list on NSE and BSE on September 23.
| Event | Date |
|---|---|
| IPO Opens | Sep 16, 2026 |
| IPO Closes | Sep 18, 2026 |
| Allotment | Sep 21, 2026 |
| Refund | Sep 22, 2026 |
| Demat Credit | Sep 22, 2026 |
| Listing | Sep 23, 2026 |
Jindal Supreme IPO Key Highlights
- Jindal Supreme (India) IPO issue size is ₹124.88 crore.
- Price band is ₹88–₹93 per share.
- Fresh issue is ₹99.89 crore.
- OFS component is ₹24.99 crore.
- Lot size is 161 shares.
- Minimum investment is ₹14,973.
- Latest reported GMP is around ₹25–₹30.
- Subscription reached 31.50x by September 17.
- Retail subscription reached 39.74x.
- NII subscription reached 37.60x.
- QIB subscription reached 12.50x.
- FY26 total income was approximately ₹675.94 crore.
- FY26 PAT was approximately ₹22.53 crore.
- ₹71 crore of fresh proceeds is planned for debt repayment/prepayment.
- Shares are scheduled to list on NSE and BSE on September 23.
Jindal Supreme IPO Review
The Jindal Supreme IPO is a ₹124.88 crore mainboard issue from a steel pipes and tubes manufacturer with manufacturing operations in Haryana and a distribution network across Northern India. The company has a diversified product portfolio covering black pipes, galvanized pipes, crash barriers and GI tubular poles.
The IPO includes ₹99.89 crore of fresh capital, with a substantial portion proposed for debt repayment, along with a ₹24.99 crore OFS. The issue has received strong subscription demand, while the reported GMP has remained in the ₹25–₹30 range across different trackers.
Investors tracking the IPO should consider the company's steel-price exposure, supplier and customer concentration, debt position, geographic concentration and financial performance alongside subscription and GMP data.
Jindal Supreme IPO Conclusion
The Jindal Supreme (India) IPO closes on September 18, 2026, with a price band of ₹88–₹93 and an issue size of ₹124.88 crore. The company operates in the steel pipes and tubes segment and has a manufacturing facility in Hisar, Haryana.
The latest reported GMP is around ₹25–₹30, while the IPO had received 31.50 times subscription by the end of September 17. Investors should treat GMP as an unofficial indicator and review the company's financial statements, IPO documents, debt position, business risks and final subscription figures before making an investment decision.
Disclaimer: Jindal Supreme IPO GMP is unofficial and unregulated. GMP and subscription figures can change frequently. Investors should verify the latest IPO documents and exchange disclosures before making any investment decision.
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