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    Jindal Supreme (India) IPO

    Updated 11 Sept 2026, 5:03 pm.

    Open Demat Account
    GMP disclaimer: GMP is unofficial and unregulated. It is not a recommendation or a reliable estimate of listing price or returns. Consider the RHP and your own risk assessment before applying.

    Minimum investment (Retail)

    ₹14,973

    1 lot · 161 shares at the upper price band

    Price band

    ₹88–93

    Latest GMP

    ₹17

    +18.3% of the ₹93 upper band

    Est. listing price

    ₹106

    Issue size

    ₹124.88 Cr

    GMP history

    Each point is a recorded observation from the scheduled data sync.

    ObservedGMPEst. listing price
    11 Sept 2026, 5:03 pm₹17₹106
    11 Sept 2026, 5:01 pm₹13₹106
    11 Sept 2026, 12:50 pm₹17₹106
    11 Sept 2026, 12:49 pm₹13₹106
    11 Sept 2026, 8:05 am₹17₹106
    11 Sept 2026, 8:03 am₹13₹106
    11 Sept 2026, 7:00 am₹16₹106
    11 Sept 2026, 6:55 am₹13₹106
    11 Sept 2026, 6:50 am₹13₹106
    11 Sept 2026, 6:28 am₹13₹106
    10 Sept 2026, 6:17 pm₹16₹106
    10 Sept 2026, 5:37 pm₹13₹106
    10 Sept 2026, 5:30 pm₹13₹106
    10 Sept 2026, 5:00 pm₹16₹106
    10 Sept 2026, 4:59 pm₹13₹106
    10 Sept 2026, 12:56 pm₹13₹106
    10 Sept 2026, 12:55 pm₹13₹106
    10 Sept 2026, 11:20 am₹13₹106
    10 Sept 2026, 8:08 am₹11₹104
    10 Sept 2026, 6:13 am₹11₹104
    10 Sept 2026, 6:10 am₹11₹104
    10 Sept 2026, 6:09 am₹11₹104
    9 Sept 2026, 5:09 pm₹11₹104

    GMP is an unofficial, unregulated grey-market estimate — not a prediction of listing performance.

    Issue details

    Board
    Mainboard
    Price band
    ₹88–93
    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
    ₹106
    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.

    Full issue details

    Details as published for this issue, read 11 Sept 2026, 5:10 pm. Verify against the RHP before applying.

    IPO Details

    IPO Date16 to 18 Sep, 2026
    Listing DateWed, Sep 23, 2026 T
    Face Value₹ 10 per share
    Price Band₹88 to ₹93
    Lot Size161 Shares
    Sale TypeFresh capital cum OFS
    Issue TypeBookbuilding IPO
    Listing AtBSE, NSE
    Total Issue Size1,34,28,000 shares (agg. up to ₹ 125 Cr)
    Fresh Issue1,07,41,149 shares (agg. up to ₹ 100 Cr)
    Offer for Sale26,86,851 shares of ₹ 10 (agg. up to ₹ 25 Cr)
    Share Holding Pre Issue4,02,82,620 shares
    Share Holding Post Issue5,10,23,769 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 CategoryShares
    QIBNot more than 50% of the Offer
    RetailNot less than 35% of the Offer
    NIINot less than 15% of the Offer

    IPO Lot Size

    ApplicationLotsSharesAmount
    Retail (Min)1161₹14,973
    Retail (Max)132093₹1,94,649
    S-HNI (Min)142254₹2,09,622
    S-HNI (Max)6610626₹9,88,218
    B-HNI (Min)6710787₹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)

    Period Ended30 Jun 202631 Mar 202631 Mar 202531 Mar 2024
    Assets232.65248.41200.33181.16
    Total Income191.09675.94604.74650.88
    Profit After Tax8.2822.5324.2712.87
    EBITDA13.7641.6325.9221.11
    NET Worth105.0296.8274.6450.31
    Reserves and Surplus64.5656.2872.1747.90
    Total Borrowing92.46119.8795.84104.92
    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.

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    IPO Objects of the Issue

    #Issue ObjectsEst Amt (₹ Cr.)
    1Repayment/pre-payment, in full or in part, of certain outstanding borrowings71.00
    2General Corporate Purposes
    Total71.00

    The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:

    Key Performance Indicator (KPI)

    KPIJun 30, 2026Mar 31, 2026
    ROE8.20%26.28%
    ROCE6.14%16.78%
    Debt/Equity0.881.24
    RoNW8.20%26.28%
    PAT Margin4.33%3.33%
    EBITDA Margin7.20%6.16%
    NAV26.0724.04
    Price to Book Value3.573.87

    Check IPO Peer Comparison here.

    IPO Valuation

    Valuation MetricPre IPOPost IPO
    EPS (₹)5.596.49
    P/E (x)16.6414.33
    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

    CategoryPre IPOPost IPO
    Promoter and Promoter Group100%73.68%
    Public26.32%
    Total100%100%

    Company Promoters: Abhishek Jindal and Sonam Jindal.

    Offer For Sale - Selling Shareholder

    NameCategoryNo. of Shares OfferedAmount (₹ cr.)
    VVJ Enterprise Pvt.Ltd.Promoter26,86,85124.99
    Total26,86,85124.99

    Jindal Supreme IPO Recommendations

    Review BySubscribeMay ApplyNeutralAvoid
    Brokers0000
    Members0000

    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