Summary
Jindal Supreme IPO is a book-built mainboard issue, with a total issue size of ₹124.88 crore, opening on 16 September 2026.
You can bid at ₹88.00–₹93.00 per share, with 1 lot comprising 161 shares.
The company has growing sales, improving EBITDA margins and established OEM relationships, while working capital and supplier concentration remain key risks.
Jindal Supreme IPO is a ₹124.88 crore book-built issue. The issue combines a fresh issue of 1.07 crore shares that sums to ₹99.89 crore and an offer-for-sale of 26.87 lakh shares aggregating to ₹24.99 crore.
The IPO opens for subscription on 16 September 2026 and closes on 18 September 2026. The allotment for the IPO shares is expected to be finalised on 21 September 2026. Jindal Supreme IPO will list on NSE and BSE, with the listing date tentatively fixed on 23 September 2026.
The IPO shares are set to issue at a price band of ₹88.00/share-₹93/share. The lot size is 161 shares for application. The amount of investment required by individual or retail investors is ₹14,973.00 based on the upper value of the price band.
Jindal Supreme (India) IPO–Key Details
The key information of the Jindal Supreme IPO is provided in the following table:
| IPO Open | 16 September 2026 |
| IPO Close | 18 September 2026 |
| Face value | ₹10.00/share |
| Price Band | ₹88.00/share–₹93.00/share |
| Issue price | – |
| IPO Lot Size | 161 shares |
| Offer-for-sale | 26,86,851 Equity Shares (₹25.00 crore) |
| Fresh issue | 1,07,41,149 Equity Shares (₹100.00 crore) |
| Issue Type | Mainboard/Bookbuilt IPO |
| Listing | NSE, BSE |
| Total Issue Size (₹ Crore) | ₹124.88 crore (1,34,28,000 Equity Shares) |
| Minimum Investment (Retail) | ₹14,973.00 |
Jindal Supreme (India) IPO–Timeline
The complete timeline for the Jindal Supreme (India) IPO is given below:
| Bid Open Date | 16 September 2026 |
| Bid Close Date | 18 September 2026 |
| Allotment | 21 September 2026 |
| Refunds Initiated | 22 September 2026 |
| Share Credit Date | 22 September 2026 |
| Listing | 23 September 2026 |
| UPI mandate Cut-off time | 18 September 2026 (5 PM) |
Jindal Supreme (India) Limited–Key Performance Indicators (KPIs)
The following are the KPIs of Jindal Supreme (India) Limited that highlight its financial performance and efficiency:
| KPIs | 2026 | 2025 | 2024 |
| ROE (%) | 26.28 | 38.85 | 27.98 |
| ROCE (%) | 16.78 | 22.37 | 13.92 |
| Debt-Equity Ratio (in times) | 1.24 | 1.28 | 2.09 |
| RoNW (%) | 26.28 | 38.85 | 27.98 |
| PAT Margin (%) | 3.33 | 4.01 | 1.98 |
| EBITDA Margin (%) | 6.16 | 4.42 | 3.27 |
| Price-Book Value | 3.87 | – | – |
Jindal Supreme (India) Limited–Financial Information
| 2026 | 2025 | 2024 | |
| Revenue | 67,538.72 | 58,639.93 | 64,543.98 |
| Assets | 24,841.33 | 20,033.21 | 18,115.76 |
| Profit/Loss After Tax | 2,252.91 | 2,426.84 | 1,287.28 |
Jindal Supreme (India) IPO–Subscription Status
| Date | QIB (Ex Anchor) | NII | Retail | Total |
|---|---|---|---|---|
| Sep 16 (Day 1) | 1.02 | 6.75 | 11.64 | 7.5 |
Jindal Supreme (India) IPO–Grey Premium Market (GMP)
Jindal Supreme IPO GMP is ₹27.00/share on 15 September 2026 (updated 11:57 AM). This brings the estimated listing price to ₹120.00, based on the upper price band of ₹93.00. This suggests a profit of 29.03%.
| GMP Date | GMP | Est. Listing Price (cap price + GMP) | Est. Profit* | Last Updated |
|---|---|---|---|---|
| 16-09-2026 Open | ₹25 ▼ | ₹118 (26.88%) | ₹4,025 | 16-Sep-2026 20:53 |
| 15-09-2026 | ₹27 ─ | ₹120 (29.03%) | ₹4,347 | 15-Sep-2026 23:30 |
| 14-09-2026 | ₹27 ─ | ₹120 (29.03%) | ₹4,347 | 14-Sep-2026 23:33 |
| 13-09-2026 | ₹27 ▲ | ₹120 (29.03%) | ₹4,347 | 13-Sep-2026 23:29 |
| 12-09-2026 | ₹25 ▲ | ₹118 (26.88%) | ₹4,025 | 12-Sep-2026 23:31 |
| 11-09-2026 | ₹21 ▲ | ₹114 (22.58%) | ₹3,381 | 11-Sep-2026 23:33 |
| 10-09-2026 | ₹19 ▲ | ₹112 (20.43%) | ₹3,059 | 10-Sep-2026 23:32 |
| 09-09-2026 | ₹11 ▲ | ₹104 (11.83%) | ₹1,771 | 9-Sep-2026 23:32 |
| 08-09-2026 | ₹0 ─ | ₹ (%) | 8-Sep-2026 14:40 |
Note: GMP is not an official measure and may fluctuate with market conditions, investor sentiment and IPO demand.
Jindal Supreme (India) IPO–Reservation
The Jindal Supreme IPO has reserved shares for the following investor categories:
| Investor Classification | % Allocation |
| QIBs | Maximum 50.00% |
| NIIs | Minimum 15.00% |
| Retail Investors | Minimum 35.00% |
Jindal Supreme (India) IPO–Lot Size
The key application and investment details for the Jindal Supreme IPO are as follows:
| Application | Lot Size | Shares | Amount |
| Retail Minimum Application | 1 | 161 | ₹14,973.00 |
| Retail Maximum Application | 13 | 2,093 | ₹1,94,649.00 |
| S-HNI Minimum Application | 14 | 2,254 | ₹2,09,622.00 |
| S-HNI Maximum Application | 66 | 10,626 | ₹9,88,218.00 |
| B-HNI Minimum Application | 67 | 10,787 | ₹10,03,191.00 |
Jindal Supreme (India) IPO–Anchor Investors Details
The details of the anchor investors participating in the Jindal Supreme (India) IPO:
| Bidding opens on | 15 September 2026 |
Jindal Supreme (India) IPO–Prospectus
Refer to the official offer documents registered with SEBI for further details:
About Jindal Supreme (India) Limited
Incorporation: 5 March 1974
Chairman & Managing Director: Abhishek Jindal
Jindal Supreme (India) Limited manufactures and supplies steel pipes, tubes and other infrastructure products from its facility in Hisar, Haryana. Established in 1974, the company serves institutional customers, infrastructure contractors, industrial buyers and dealers, primarily in northern India.
Its main products and business segments include:
- Steel Pipes and Tubes: Manufactures MS black and galvanised pipes and tubes for industrial and infrastructure applications.
- Crash Barriers: Produces W-beam and Thrie-beam barriers for road safety and highway infrastructure projects.
- GI Tubular Poles: Manufactures galvanised iron poles for street lighting, electrification and public utility projects.
| Name | |
| Book Running Lead Manager (BRLM) | Sarthi Capital Advisors Private Limited |
| Registrar | Bigshare Services Private Limited |
Objectives of Jindal Supreme (India) Limited
The Jindal Supreme IPO funds will be utilised for the following purposes:
| Particulars | Amount (in ₹ lakhs) |
| Repayment of borrowings | 7,100.00 |
| Corporate purposes | – |
Jindal Supreme Limited–Strengths
- Experienced leadership team: The company’s management team, including promoter Abhishek Jindal, who brings 18 years of industry experience, plays an active role in development and expansion.
- Strategic plant location: The manufacturing facility is located close to customers’ manufacturing plants, supporting faster delivery of customised steel products and lower logistical costs.
- Higher sales driving revenue growth: The company’s sales volume increased from 98,351 MT in FY2024 to 1,01,100 MT in FY2026, contributing to revenue growth from ₹64,543.98 lakh to ₹67,538.72 lakh.
- Better profitability: The expenses of the company fell from 97.68% in FY2024 to 95.54% in FY2026. This supported its profit to grow from ₹1,287.28 lakh to ₹2,252.91 lakh, despite a decline from ₹2,427 lakh in FY2025.
Jindal Supreme Limited–Risks
- Rising working capital needs: The company requires high working capital for its growth. Its working capital requirement stood at ₹13,147.25 lakh in FY2026, of which ₹8,981.82 lakh was funded through borrowings. This increases reliance on external financing.
- High dependence on key suppliers: The top 10 suppliers accounted for 76.23% of purchases in FY2026, making production vulnerable to delays or shortages in raw material supplies.
- Future share pledging could affect control: While the company’s promoters have not pledged their shares currently, any future encumbrance could affect promoter control, investor confidence and the market price.
- Pending legal matters: Outstanding proceedings include two criminal cases and five tax proceedings involving the company, directors and promoters, with ₹317.36 lakh in quantifiable amounts involved.
Jindal Supreme (India) IPO–Review
The company reflect improving operating performance and high EBITDA margins, indicating better cost management and business efficiency. Its established OEM relationships and growing sales volume also support its expansion plans.
While the company involves risks of high working capital needs and supplier concentration, its positive GMP creates a favourable market sentiment before listing. The investors, however, should consider the company’s recent moderation in profitability and pending legal matters.
Other Recent IPO List
Listed are the currently open and upcoming IPOs in India in 2026:
| National Stock Exchange IPO | Steamhouse India IPO |
| Manika Plastech IPO | OM Galaxy IPO |
| Rentomojo IPO | LCC Projects IPO |
| Manipal Payment & Identity Solutions IPO | Karamtara Engineering IPO |
Jindal Supreme (India) IPO FAQs
Jindal Supreme (India) IPO is a mainboard book-built issue comprising a fresh issue and an offer for sale. The IPO is priced at ₹88 to ₹93 per share and will list on NSE and BSE.
You can apply for the Jindal Supreme (India) IPO using the UPI facility or ASBA IPO application available through your bank account.
The Jindal Supreme (India) IPO has improving operating margins, higher sales volumes and established OEM relationships. However, investors should consider its working capital requirements, supplier concentration, legal proceedings and decline in profit from FY2025.
The Jindal Supreme IPO suggests expected listing returns of 29.03%, based on recent grey market estimates, as of 15 September.
The Jindal Supreme IPO will open for subscription on 16 September 2026 and close on 18 September 2026.
The Jindal Supreme IPO lot size is 161 shares. At the upper price band of ₹93 per share, one lot requires a minimum investment of ₹14,973 for retail investors.
The allotment of Jindal Supreme IPO shares is to be finalised on 21 September 2026. Additionally, the refunds and share credits are scheduled for 22 September 2026.
Jindal Supreme IPO shares are tentatively scheduled to list on NSE and BSE on 23 September 2026, following the completion of allotment, refunds and share credit.
