Jindal Supreme IPO
Updated 15 Sept 2026, 8:00 pm.
Minimum investment (Retail)
₹14,973
1 lot · 161 shares at the upper price band
Price band
₹93
Latest GMP
₹27
+29.0% of the ₹93 upper band
Est. listing price
₹120
Issue size
₹124.88 Cr
GMP history
Each point is a recorded observation from the scheduled data sync.
| Observed | GMP | Est. listing price |
|---|---|---|
| 15 Sept 2026, 8:00 pm | ₹27 | ₹120 |
| 15 Sept 2026, 2:12 pm | ₹27 | ₹120 |
| 15 Sept 2026, 2:10 pm | ₹27 | ₹120 |
| 15 Sept 2026, 12:09 am | ₹27 | ₹120 |
| 15 Sept 2026, 12:08 am | ₹27 | ₹120 |
| 14 Sept 2026, 2:27 pm | ₹27 | ₹120 |
| 14 Sept 2026, 2:25 pm | ₹27 | ₹120 |
| 12 Sept 2026, 9:50 pm | ₹23 | ₹114 |
| 12 Sept 2026, 9:49 pm | ₹21 | ₹114 |
| 12 Sept 2026, 5:41 pm | ₹21 | ₹114 |
| 12 Sept 2026, 5:40 pm | ₹21 | ₹114 |
| 12 Sept 2026, 1:26 pm | ₹21 | ₹114 |
| 12 Sept 2026, 1:25 pm | ₹21 | ₹114 |
| 11 Sept 2026, 10:33 pm | ₹17 | ₹106 |
| 11 Sept 2026, 10:31 pm | ₹13 | ₹106 |
| 11 Sept 2026, 6:20 pm | ₹17 | ₹106 |
| 11 Sept 2026, 6:19 pm | ₹13 | ₹106 |
| 11 Sept 2026, 1:35 pm | ₹17 | ₹106 |
| 11 Sept 2026, 1:33 pm | ₹13 | ₹106 |
| 11 Sept 2026, 12:30 pm | ₹16 | ₹106 |
| 11 Sept 2026, 12:25 pm | ₹13 | ₹106 |
| 11 Sept 2026, 12:20 pm | ₹13 | ₹106 |
| 11 Sept 2026, 11:58 am | ₹13 | ₹106 |
| 10 Sept 2026, 11:47 pm | ₹16 | ₹106 |
| 10 Sept 2026, 11:07 pm | ₹13 | ₹106 |
| 10 Sept 2026, 11:00 pm | ₹13 | ₹106 |
| 10 Sept 2026, 10:30 pm | ₹16 | ₹106 |
| 10 Sept 2026, 10:29 pm | ₹13 | ₹106 |
| 10 Sept 2026, 6:26 pm | ₹13 | ₹106 |
| 10 Sept 2026, 6:25 pm | ₹13 | ₹106 |
| 10 Sept 2026, 4:50 pm | ₹13 | ₹106 |
| 10 Sept 2026, 1:38 pm | ₹11 | ₹104 |
| 10 Sept 2026, 11:43 am | ₹11 | ₹104 |
| 10 Sept 2026, 11:40 am | ₹11 | ₹104 |
| 10 Sept 2026, 11:39 am | ₹11 | ₹104 |
| 9 Sept 2026, 10:39 pm | ₹11 | ₹104 |
GMP is an unofficial, unregulated grey-market estimate — not a prediction of listing performance.
Issue details
- Board
- Mainboard
- Price band
- ₹93
- Issue size
- ₹124.88 Cr
- Lot size
- 161
- Opens
- 16 Sept 2026
- Closes
- 18 Sept 2026
- Allotment
- 21 Sept 2026
- Listing
- 23 Sept 2026
- Est. listing price
- ₹120
- Listing price
- Awaited
- Listing gain
- Awaited
- Registrar
- Bigshare Services Pvt.Ltd.
- Minimum investment
- ₹14,973 (1 lot · 161 shares)
- Face value
- ₹10 per share
- Issue type
- Bookbuilding IPO
- Sale type
- Fresh capital cum OFS
- Fresh issue
- ₹100 Cr
- Offer for sale
- ₹25 Cr
- Listing at
- BSE, NSE
- Refunds
- 22 Sept 2026
- Shares credited
- 22 Sept 2026
- Promoter holding
- 100% before · 73.68% after
- Lead managers
- Sarthi Capital Advisors Pvt.Ltd.
Offer documents & links
Full issue details
Details as published for this issue, read 15 Sept 2026, 12:21 am. Verify against the RHP before applying.
IPO Details
| IPO Date | 16 to 18 Sep, 2026 |
|---|---|
| Listing Date | Wed, Sep 23, 2026 T |
| Face Value | ₹ 10 per share |
| Price Band | ₹88 to ₹93 |
| Lot Size | 161 Shares |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Total Issue Size | 1,34,28,000 shares (agg. up to ₹ 125 Cr) |
|---|---|
| Fresh Issue | 1,07,41,149 shares (agg. up to ₹ 100 Cr) |
| Offer for Sale | 26,86,851 shares of ₹ 10 (agg. up to ₹ 25 Cr) |
| Share Holding Pre Issue | 4,02,82,620 shares |
| Share Holding Post Issue | 5,10,23,769 shares |
IPO Timetable (Tentative)
- IPO Open
- Wed, Sep 16, 2026
- IPO Close
- Fri, Sep 18, 2026
- Allotment
- Mon, Sep 21, 2026
- Refund
- Tue, Sep 22, 2026
- Credit of Shares
- Tue, Sep 22, 2026
- Listing
- Wed, Sep 23, 2026
Issue Reservation
| Investor Category | Shares |
|---|---|
| QIB | Not more than 50% of the Offer |
| Retail | Not less than 35% of the Offer |
| NII | Not less than 15% of the Offer |
IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 161 | ₹14,973 |
| Retail (Max) | 13 | 2093 | ₹1,94,649 |
| S-HNI (Min) | 14 | 2254 | ₹2,09,622 |
| S-HNI (Max) | 66 | 10626 | ₹9,88,218 |
| B-HNI (Min) | 67 | 10787 | ₹10,03,191 |
Investors can bid for a minimum of 161 shares and in multiples thereof.
IPO Subscription Details
About Jindal Supreme (India) Ltd.
Incorporated in March 1974 , Jindal Supreme (India) Limited has been engaged in the manufacturing and supply of steel pipes, tubes and other steel products catering to infrastructure and industrial applications for over five decades. 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 manufactured in various dimensions as per applicable Indian Standards and are used across water supply and plumbing, infrastructure and construction, roads and highways, bridges, oil and gas, chemicals, agriculture and rural electrification, among other applications.
The Company has progressively diversified its product portfolio to address emerging infrastructure opportunities. In Fiscal 2025, it commenced manufacturing W-beam and Thrie-beam metal crash barriers, primarily used for road safety and highway infrastructure projects. In Fiscal 2026, it further expanded into GI tubular poles, which are used for street lighting, electrification projects and other public utility infrastructure. The Company primarily follows a B2B business model, with direct sales to institutional and industrial customers, including infrastructure contractors, while also serving customers through its dealer network.
The Company's manufacturing facility is located in Hisar, Haryana, and is equipped with mills, welding plants, galvanizing plants and other machinery, supported by an in-house maintenance workshop and testing equipment. The Company has developed a network of dealers, primarily across the northern states of India, and focuses on expanding its dealer base and increasing volumes from existing dealers.
As of June 30, 2026, the Company had 53 dealers and an employee base of 242 employees.
Competitive Strengths
Strong dealer and customer relationships.
Strategic location of manufacturing facility.
Track record of healthy financial performance.
Experienced promoter and professional management team.
Diversified product portfolio with customisation capabilities.
Established presence in steel pipes and tubes manufacturing.
Company Financials (Restated Consolidated)
Total Income
Profit After Tax
EBITDA
NET Worth
| Period Ended | 30 Jun 2026 | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|---|
| Assets | 232.65 | 248.41 | 200.33 | 181.16 |
| Total Income | 191.09 | 675.94 | 604.74 | 650.88 |
| Profit After Tax | 8.28 | 22.53 | 24.27 | 12.87 |
| EBITDA | 13.76 | 41.63 | 25.92 | 21.11 |
| NET Worth | 105.02 | 96.82 | 74.64 | 50.31 |
| Reserves and Surplus | 64.56 | 56.28 | 72.17 | 47.90 |
| Total Borrowing | 92.46 | 119.87 | 95.84 | 104.92 |
| Amount in ₹ Crore |
Jindal Supreme (India) Ltd.'s revenue increased by 12% and profit after tax (PAT) dropped by 7% between the financial year ending with March 31, 2026 and March 31, 2025.
Recently Listed IPOs in Iron & Steel Products
| Company | Issue Type | Issue Size | Issue Price | PE Ratio | Listing Day Close | Listing Gain/Loss % | LTP |
|---|---|---|---|---|---|---|---|
| Behari Lal Engineering Ltd. | Mainboard | ₹301.62 Cr | ₹285 | 17.21 | ₹502.20 | +76.21% | ₹442.15 |
| Rajputana Stainless Ltd. | Mainboard | ₹254.98 Cr | ₹122 | 21.1 | ₹113.03 | -7.35% | ₹190.10 |
| VMS TMT Ltd. | Mainboard | ₹148.50 Cr | ₹99 | 22.24 | ₹99.65 | +0.66% | ₹44.12 |
| Anubhav Plast Ltd. | SME | ₹24.00 Cr | ₹80 | 10.67 | ₹76.00 | -5.00% | ₹46.00 |
| Kasturi Metal Composite Ltd. | SME | ₹17.61 Cr | ₹64 | 23.59 | ₹63.16 | -1.31% | ₹52.01 |
| Shri Kanha Stainless Ltd. | SME | ₹46.28 Cr | ₹90 | 16.23 | ₹83.60 | -7.11% | ₹22.80 |
| Mittal Sections Ltd. | SME | ₹52.91 Cr | ₹143 | 31.15 | ₹108.70 | -23.99% | ₹24.50 |
| M P K Steels (I) Ltd. | SME | ₹25.74 Cr | ₹79 | 9.04 | ₹83.50 | +5.70% | ₹95.00 |
View More »
Key Performance Indicator (KPI)
ROE
ROCE
RoNW
PAT Margin
EBITDA Margin
| KPI | Jun 30, 2026 | Mar 31, 2026 |
|---|---|---|
| ROE | 8.20% | 26.28% |
| ROCE | 6.14% | 16.78% |
| Debt/Equity | 0.88 | 1.24 |
| RoNW | 8.20% | 26.28% |
| PAT Margin | 4.33% | 3.33% |
| EBITDA Margin | 7.20% | 6.16% |
| NAV | 26.07 | 24.04 |
| Price to Book Value | 3.57 | 3.87 |
Check IPO Peer Comparison here.
IPO Valuation
| Valuation Metric | Pre IPO | Post IPO |
|---|---|---|
| EPS (₹) | 5.59 | 6.49 |
| P/E (x) | 16.64 | 14.33 |
| Market Cap at Offer Price | ₹374.63 Cr. | ₹474.52 Cr |
Disclaimer
The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
The Pre IPO EPS is calculated based on Pre issue shareholding as on date of RHP and the latest FY earnings as of March 31, 2026 available in RHP.
The Post Issue EPS is calculated based on the Post issue shareholding and annualized FY earnings of June 30, 2026 available in RHP.
Shareholding Structure
Pre IPO
- Promoter and Promoter Group100%
Post IPO
- Promoter and Promoter Group73.68%
- Public26.32%
| Category | Pre IPO | Post IPO |
|---|---|---|
| Promoter and Promoter Group | 100% | 73.68% |
| Public | — | 26.32% |
| Total | 100% | 100% |
Company Promoters: Abhishek Jindal and Sonam Jindal.
Offer For Sale - Selling Shareholder
| Name | Category | No. of Shares Offered | Amount (₹ cr.) |
|---|---|---|---|
| VVJ Enterprise Pvt.Ltd. | Promoter | 26,86,851 | 24.99 |
| Total | — | 26,86,851 | 24.99 |
Jindal Supreme IPO Recommendations
| Review By | Subscribe | May Apply | Neutral | Avoid |
|---|---|---|---|---|
| Brokers | 0 | 0 | 1 | 0 |
| Members | 0 | 0 | 0 | 0 |
IPO Registrar
Bigshare Services Pvt.Ltd.
8657578989/8069219065/8069219060
ipo@bigshareonline.com
IPO Lead Manager(s)
Sarthi Capital Advisors Pvt.Ltd.
Contact Details
Jindal Supreme (India) Ltd. Address
9th KM
O P Jindal Marg
Hisar Cantt
Hisar, Haryana , 125006
016 6223 6500
janaksteel@gmail.com
Jindal Supreme IPO in the news
Recent coverage in the financial press. Headlines are the publishers' own; verify details with the RHP.
Jindal Supreme (India) IPO To Open On September 16, 2026
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