Jindal Supreme (India) IPO GMP today is Rs 30. Investors can use this GMP along with price band and subscription status for a better IPO review.
Listed
Mainboard IPO
JSIPL
Jindal Supreme (India) IPO GMP & Allotment
Jindal Supreme (India) manufactures and supplies various steel products, primarily focusing on Mild Steel (MS) black pipes and tubes, MS galvanized pipes and tubes, metal beam crash barriers, and galvanized iron (GI) tubular poles. Operating from a single manufacturing facility in Hisar, Haryana, the company uses processes such as coil slitting, forming, degreasing, fluxing, and galvanizing to create products used across infrastructure, construction, plumbing, and rural electrification sectors. The company relies heavily on the demand for its core Black Pipes and Galvanized Pipes, which account for a significant portion of its sales. It serves its customer base through an established dealer network primarily in Northern India. Jindal Supreme (India) meets its raw material requirements by procuring mild steel coils, hot-rolled coils, and galvanizing materials from multiple suppliers.
- IPO Price Band
- ₹88.00 - ₹93.00
- Lot Size
- 161 Shares
- Bidding Closes
- 18 Sept 2026
- Listing Date
- 23 Sept 2026
Quick Answer & Highlights
Jindal Supreme (India) IPO GMP Today & Key Takeaways
Last updated: 18 Sept 2026
Jindal Supreme (India) IPO officially listed on 23 Sept 2026 at Rs 121.90, delivering a +31.08% listing gain compared to its issue price of Rs 124.88. Pre-listing, its final recorded Grey Market Premium (GMP) was ₹30.
Jindal Supreme (India) IPO officially listed on 23 Sept 2026 at ₹121.90, delivering a +31.08% listing gain compared to its issue price of ₹124.88. Pre-listing, its final recorded Grey Market Premium (GMP) was ₹30.
| Key Metric | Figure | Status / Context |
|---|---|---|
| Current GMP | ₹30 | +32.26% vs upper band (18 Sept 2026) |
| Est. Listing Price | ₹121.90 | +31.08% Est. Listing Gain |
| Price Band | ₹88.00 - ₹93.00 | Mainboard IPO |
| Retail Minimum Investment | ₹14,973 | 1 Lot (161 Shares) |
| Bidding Window | 16 Sept 2026 – 18 Sept 2026 | Listed |
| Allotment & Listing Dates | Allotment: 21 Sept 2026 | Listing: 23 Sept 2026 |
Current GMP Status
₹30
+32.26% vs upper band
Est. Listing Gain
+31.08%
Last Trend
18 Sept 2026
Listing Price
₹121.90
Retail Entry
₹14,973
IPO Details
Complete IPO information
| IPO Open Date | 16 Sept 2026 |
|---|---|
| IPO Close Date | 18 Sept 2026 |
| IPO Price Band | ₹88.00 - ₹93.00 |
| Lot Size | 161 Shares |
| Current GMP | ₹30 |
| Estimated Listing Gain | +31.08% |
| Issue Size | Approx ₹124.88 Cr |
| Fresh Issue | Approx ₹99.89 Cr |
| Issue Type | Mainboard |
| IPO Listing | BSE, NSE |
| Retail Quota | TBA |
| Registrar | TBA |
| Overall Subscription | 181.07x |
| Minimum Investment | ₹14,973 |
| DRHP Draft Prospectus | |
| RHP Draft Prospectus |
Demand Tracker
Subscription Status
| Category | Shares Reserved | Shares Applied | Subscription (x) |
|---|---|---|---|
| QIB | 26.86 | 3,394.89 | 126.41xx |
| NII | 20.14 | 6,606.43 | 327.99xx |
| Retail | 46.99 | 7,018.48 | 149.34xx |
| Overall Subscription | 93.99 | 17,019.79 | 181.07xx |
Analysis
IPO Snapshot & Investor Takeaways
At the upper end of its price band, Jindal Supreme (India) is priced at ₹93 per share. With a minimum lot size of 161 shares, a retail investor applying for one lot would need approximately ₹14,973 to participate in this Mainboard issue.
The latest recorded Grey Market Premium for Jindal Supreme (India) stands at ₹30, implying an estimated listing gain of around 32.26% over the issue price if it holds until listing. This is up ₹7 from its previously recorded level. GMP reflects informal grey-market sentiment rather than a guaranteed outcome, and can change at any point until the day of listing.
As of the latest update, Jindal Supreme (India)'s IPO was subscribed 181.07x overall, with a category-wise breakdown of Retail 149.34x, QIB 126.41x, NII 327.99x.
Among the strengths highlighted in Jindal Supreme (India)'s IPO documents: Founder-led management team with extensive industry expertise.; Well-established distribution network featuring 53 dealers across Northern India..
Investors should also weigh the risk factors Jindal Supreme (India) has disclosed, including: Geographic concentration risk due to relying on a single manufacturing facility in Haryana..
A share of Jindal Supreme (India)'s issue proceeds is earmarked for Repayment Of Borrowings: 71 (71.08%).
Mainboard IPOs list on the main platform of BSE/NSE, typically involve larger issue sizes, and draw participation across retail, HNI and institutional (QIB) investor categories.
Timeline
IPO roadmap at a glance
✓
Bidding Opens
16 Sept 2026
✓
Bidding Closes
18 Sept 2026
✓
Allotment
21 Sept 2026
✓
Listing
23 Sept 2026
| Event / Milestone | Scheduled Date | Status |
|---|---|---|
| Bidding Opens | 16 Sept 2026 | Completed |
| Bidding Closes | 18 Sept 2026 | Completed |
| Allotment | 21 Sept 2026 | Completed |
| Listing | 23 Sept 2026 | Completed |
Grey Market Premium
Daily GMP status
| Date | GMP | Change | Gain |
|---|---|---|---|
| 18 Sept 2026 | ₹32.00 | +₹7.00 | 34.41% |
| 17 Sept 2026 | ₹25.00 | -₹2.00 | 26.88% |
| 16 Sept 2026 | ₹27.00 | +₹27.00 | 29.03% |
| 11 Sept 2026 | ₹0.00 | - | 0.00% |
Swipe to see more →
Market Lot
Application size breakdown
| Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail Minimum | 1 Lot | 161 | ₹14,973 |
| Retail Maximum | 13 Lot | 2,093 | ₹1,94,649 |
| S-HNI Minimum | 14 Lot | 2,254 | ₹2,09,622 |
| S-HNI Maximum | 66 Lot | 10,626 | ₹9,88,218 |
| B-HNI Minimum | 67 Lot | 10,787 | ₹10,03,191 |
Swipe to see more →
Fund Utilization
Objects of the Issue & Official Documents
- Repayment Of Borrowings 71 (71.08%)
- General Corporate Purpose 28.89 (28.92%)
Issue Notes
Important takeaways before applying
Strengths
- Founder-led management team with extensive industry expertise.
- Well-established distribution network featuring 53 dealers across Northern India.
- Diversified steel product portfolio mitigating reliance on a single segment.
- Robust manufacturing capabilities with a total installed capacity of 1,71,000 MTPA.
- Strategically located manufacturing facility in Hisar, Haryana, for operational efficiency.
Risks
- Geographic concentration risk due to relying on a single manufacturing facility in Haryana.
- Heavy reliance on the top 10 suppliers for over 70% of total raw material purchases.
- Profit margins are highly vulnerable to price volatility in key steel raw materials.
- Significant revenue dependence on the market demand for Black and Galvanized Pipes.
- Customer concentration risk, as top buyers contribute a substantial portion of total revenue
Analysis
Jindal Supreme IPO Reservation
The Jindal Supreme IPO reservation is divided among qualified institutional buyers, non-institutional investors and retail investors. As per the current issue structure, 50% of the shares are reserved for QIB investors excluding the anchor portion, while NII investors and retail investors are allocated 15% and 35%, respectively.
The anchor investor allocation and share quantities for the other categories are currently shown as pending. The final number of shares available to each category will depend on the issue structure and the final prospectus details.
| Investor Category | Share Offered | -% Shares |
|---|---|---|
| Anchor Investor | – Shares | -% |
| QIB (Ex. Anchor) | – Shares | 50% |
| NII Shares Offered | – Shares | 15% |
| Retail Shares Offered | – Shares | 35% |
Note: Reservation figures are based on the current Jindal Supreme IPO information provided above and may be updated with the final issue details.
Analysis
Jindal Supreme IPO Anchor Investors
Jindal Supreme IPO anchor investor bidding is scheduled for September 15, 2026, one day before the public issue opens. The anchor allocation process allows eligible institutional investors to participate before the issue opens for other investor categories.
The number of shares offered and the total anchor size are currently shown as pending. The anchor investor list and final allocation details can be updated once the relevant issue documents are available.
| Particular | Details |
|---|---|
| Anchor Bidding Date | September 15, 2026 |
| Shares Offered | [.] Shares |
| Anchor Size | [.] Cr. |
| Lock-in Period End Date 50% Shares (30 Days) | 2026 |
| Lock-in Period End Date 50% Shares (90 Days) | 2026 |
Note: Anchor investor allocation figures are based on the current Jindal Supreme IPO information provided above and may be updated after the final anchor allocation is announced.
Analysis
Jindal Supreme (India) IPO Dates
| Particular | Dates |
|---|---|
| IPO Open Date | 16 Sept 2026 |
| IPO Close Date | 18 Sept 2026 |
| Basis of Allotment | 21 Sept 2026 |
| Refunds | 22 Sept 2026 |
| Credit to Demat Account | 22 Sept 2026 |
| IPO Listing Date | 23 Sept 2026 |
Note: The timeline for Jindal Supreme (India) IPO is tentative and subject to change.
Analysis
Jindal Supreme IPO Promoters and Holding Pattern
The promoter of Jindal Supreme is Abhishek Jindal. The company's shareholding pattern shows the ownership held by the promoter and promoter group before the IPO and the expected holding after the issue.
Before the IPO, the promoter and promoter group hold 100% of the company's shares. Following the IPO, their holding is expected to reduce to 73.68%, while the remaining 26.32% will be held by other shareholders.
| Particular | Pre IPO Shares | Pre IPO % Shares | Post IPO Shares | Post IPO % Shares |
|---|---|---|---|---|
| Promoter and Promoter Group | 4,02,82,620 | 100% | 37,595,769 | 73.68% |
| Others* | – | -% | 13,428,000 | 26.32% |
| Total | 4,02,82,620 | 100% | 51,023,769 | 100% |
Note: The holding pattern is based on the shareholding details provided above and represents the pre-IPO and post-IPO ownership structure.
Analysis
Jindal Supreme (India) Objects of the Issue & Utilisation of Proceeds
| Purpose | Crores |
|---|---|
| Purpose | INR crores (%) |
| Repayment/pre-payment of certain outstanding borrowings | 71 (71.08%) |
| General corporate purposes | 28.89 (28.92%) |
Note: Objectives are as specified in the DRHP/RHP documents of Jindal Supreme (India).
Analysis
Jindal Supreme About IPO
Jindal Supreme, founded in March 1974, is one of the leading manufacturers and suppliers of steel pipes, tubes, and other steel products. Its product portfolio includes Mild Steel (MS) black pipes and tubes, galvanized pipes, metal beam crash barriers, and Galvanized Iron (GI) tubular poles. These products are used in various applications such as water supply and plumbing, infrastructure and construction, roads and highways, bridges, oil and gas, chemicals, agriculture and rural electrification, among others.
Moreover, in FY25, Jindal started to manufacture W-beam and Thrie-beam metal crash barriers used on highways and roads to improve safety. Later, in FY26, it started making GI tubular poles used for street lighting. Its manufacturing facility is located in Hisar which is equipped with mills, welding plants, galvanizing plants, and other machinery.
Analysis
Jindal Supreme (India) Company Financials
| Period | Revenue | Expense | PAT | Assets |
|---|---|---|---|---|
| 2024 | 650.88 Cr. | 635.80 Cr. | 12.87 Cr. | 181.16 Cr. |
| 2025 | 604.74 Cr. | 572.35 Cr. | 24.27 Cr. | 200.33 Cr. |
| 2026 | 675.94 Cr. | 645.79 Cr. | 22.53 Cr. | 248.41 Cr. |
| June 2026 | 191.09 Cr. | 180.05 Cr. | 8.28 Cr. | 232.65 Cr. |
Note: Financial numbers for Jindal Supreme (India) are in ₹ Crores unless stated otherwise.
Analysis
Jindal Supreme (India) Company Valuation – FY2026
| KPI | Values |
|---|---|
| ROE | 26.28% |
| ROCE | 16.78% |
| EBITDA Margin | 6.16% |
| PAT Margin | 3.33% |
| Debt to Equity Ratio | 1.24 |
| Earning Per Share (EPS) | 5.59 (Basic) |
| Price/Earning P/E Ratio | - |
| Return on Net Worth (RoNW) | 26.28% |
| Net Asset Value (NAV) | 24.04 |
Note: Valuation KPIs for Jindal Supreme (India) are computed for FY2026.
Analysis
Jindal Supreme (India) IPO Peer Group Comparison
| Company | EPS | PE Ratio | RoNW % | NAV | Income |
|---|---|---|---|---|---|
| Vibhor Steel Tubes Limited | 4.64 | 23.06 | 4.57% | – | 8.79 Cr. |
| Sambhv Steel Tubes Limited | 1.81 | 65.55 | 18.35% | – | 142.15 Cr. |
| Hi-Tech Pipes Limited | 3.77 | 22.31 | 6.07% | – | 76.16 Cr. |
Note: Peer group comparisons for Jindal Supreme (India) are sourced from DRHP filings.
Analysis
Jindal Supreme IPO Lead Managers aka Merchant Bankers
- Sarthi Capital Advisors Pvt. Ltd.
Comparison
Compare Jindal Supreme (India) IPO with similar IPOs
FAQ
Jindal Supreme (India) IPO FAQs
Based on the latest Grey Market Premium (GMP) of Rs 30 and an issue price of Rs 93, the estimated listing price for Jindal Supreme (India) IPO is Rs 123.00 (approx 32.26% listing gain). Actual listing price is determined by market demand on the listing day.
Jindal Supreme (India) IPO price band is Rs 88.00 to Rs 93.00. Check the latest issue price, lot size and GMP together before applying.
Jindal Supreme (India) IPO open date is 16 Sept 2026, close date is 18 Sept 2026, and listing date is 23 Sept 2026.
Jindal Supreme (India) IPO lot size is 161 shares. The minimum retail investment is Rs 14,973.
Jindal Supreme (India) is classified as a Mainboard IPO. This helps investors quickly understand the issue category and exchange segment.
Jindal Supreme (India) IPO subscription status currently shows Retail 149.34x, QIB 126.41x, NII 327.99x, Overall 181.07x.
Jindal Supreme (India) manufactures and supplies various steel products, primarily focusing on Mild Steel (MS) black pipes and tubes, MS galvanized pipes and tubes, metal beam crash barriers, and galvanized iron (GI) tubular poles. Operating from a single manufacturing facility in Hisar, Haryana, the company uses processes such as coil slitting, forming, degreasing, fluxing, and galvanizing to create products used across infrastructure, construction, plumbing, and rural electrification sectors. The company relies heavily on the demand for its core Black Pipes and Galvanized Pipes, which account for a significant portion of its sales. It serves its customer base through an established dealer network primarily in Northern India. Jindal Supreme (India) meets its raw material requirements by procuring mild steel coils, hot-rolled coils, and galvanizing materials from multiple suppliers.
Jindal Supreme (India) IPO issue size is 124.88 and the expected allotment date is 21 Sept 2026.
In our empirical study of 117 Indian IPO listings, positive GMP was followed by a positive listing gain 69.8% of the time. However, as an exact forecast, the median variation between GMP-implied gain and actual listing price was 8 percentage points. GMP reflects informal market sentiment and should always be evaluated alongside company valuation and fundamentals.
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