Jindal Supreme (India) Limited has launched its Initial Public Offering (IPO) on the mainboard of the Indian stock exchanges. The Jindal Supreme IPO opened for subscription on September 16, 2026, and will close on September 18, 2026. The company has fixed the IPO price band at ₹88 to ₹93 per equity share, with a lot size of 161 shares. The issue is proposed to be listed on both NSE and BSE.
Jindal Supreme (India) Subscription Status
Last updated on 17-Sep-2026 20:51:15
| Subscription Details (No. of Shares) | |||
|---|---|---|---|
| Category | Offered | Applied | Times |
| QIBs | 2685600 | 33565119 | 12.5 |
| HNIs | 2014200 | 76275843 | 37.87 |
| HNIs 10+ | 1342800 | 35525616 | 26.46 |
| HNIs 2+ | 671400 | 40750227 | 60.69 |
| Retail | 4699800 | 189589414 | 40.34 |
| Total | 9399600 | 299430376 | 31.86 |
| Application-Wise Breakup (Approx. no. of Apps) | |||
|---|---|---|---|
| Category | Reserved | Applied | Times |
| HNIs (10L+) | 596 | 3063 | 5.14 |
| HNIs (2-10L) | 298 | 16673 | 55.95 |
| Retail | 29191 | 969424 | 33.21 |
Total Applications: 989160
| Subscription Demand (in ₹ crore) | |||
|---|---|---|---|
| Category | Offered | Applied | Times |
| QIBs | 24.98 | 312.16 | 12.5 |
| FIIs | - | 0.09 | - |
| DIIs | - | 0.02 | - |
| Mutual funds | - | 0 | - |
| Others | - | 312.04 | - |
| HNIs | 18.73 | 709.37 | 37.87 |
| HNIs 10+ | 12.49 | 330.39 | 26.46 |
| HNIs 2+ | 6.24 | 378.98 | 60.69 |
| Retail | 43.71 | 1763.18 | 40.34 |
| Total | 87.42 | 2784.7 | 31.86 |
| 7% | 8% | 9% | 10% | 11% | 12% |
|---|---|---|---|---|---|
| ₹1.6 | ₹1.8 | ₹2 | ₹2.2 | ₹2.5 | ₹2.7 |
Day-wise Subscription (times)
| Category | Day 1 | Day 2 |
|---|---|---|
| QIBs | 1.02 | 12.5 |
| HNIs | 6.8 | 37.87 |
| HNIs 10+ | 4.06 | 26.46 |
| HNIs 2+ | 12.28 | 60.69 |
| Retail | 11.91 | 40.34 |
| Total | 7.7 | 31.85 |
Lot Size & Investment
| Category | Lot(s) | Qty | Amount | Reserved |
|---|---|---|---|---|
| Retail | 1 | 161 | 14973 | 29191 |
| sHNI | 14 | 2254 | 209622 | 298 |
| bHNI | 67 | 10787 | 1003191 | 596 |
Share Reservation
| Category | Shares Offered | % |
|---|---|---|
| Total | 13428000 | 100% |
| Anchor | 4028400 | 30% |
| QIB | 2685600 | 20% |
| HNI | 2014200 | 15% |
| Retail | 4699800 | 35% |
About the Company
IPO Details
Jindal Supreme IPO Overview
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Key Performance Indicators (KPI)
| KPI | Jun-26 | Mar-26 | Mar-25 |
|---|---|---|---|
| RONW | 8.20% | 26.28% | 38.85% |
| EPS (BASIC) | 2.05 | 5.59 | 6.02 |
| P/E PRE IPO | 16.64 | ||
| P/E POST IPO | 14.33 |
Company Financial (In ₹Crore)
| Period Ended | Jun-26 | Mar-26 | Mar-25 | Mar-24 |
|---|---|---|---|---|
| Assets | 232.65 | 248.41 | 200.33 | 181.15 |
| Total Income | 191.08 | 675.94 | 604.74 | 650.87 |
| Profit After Tax | 8.27 | 22.52 | 24.26 | 12.87 |
| EBITDA | 13.75 | 41.62 | 25.92 | 21.1 |
| NET Worth | 105.02 | 96.82 | 74.63 | 50.31 |
| Reserves and Surplus | 64.73 | 56.54 | 72.71 | 48.39 |
| Total Borrowing | 92.45 | 119.86 | 95.83 | 104.91 |
Peer Comparision (Valuation)
| Company | P/E (x) | CMP (₹) | Face Value (₹) |
|---|---|---|---|
| Jindal Supreme (India) Limited | 16.64 | 93.00 | 10 |
| Vibhor Steel Tubes Limited | 23.06 | 107.00 | 10 |
| Sambhv Steel Tubes Limited | 65.55 | 118.65 | 10 |
| Hi-Tech Pipes Limited | 22.31 | 84.09 | 1 |
Source: RHP,P/E ratio is calculated based on market price of equity shares on BSE as on August 11, 2026, divided by earning per share based on fiscal 2026.
Peer Comparision (Financial Performance).
| Company | RoNW (%) | EPS (Basic) (₹) |
|---|---|---|
| Jindal Supreme (India) Limited | 26.28% | 5.59 |
| Vibhor Steel Tubes Limited | 4.57% | 4.64 |
| Sambhv Steel Tubes Limited | 18.35% | 1.81 |
| Hi-Tech Pipes Limited | 6.07% | 3.77 |
About Company
Incorporated in 1974, Jindal Supreme (India) Ltd is engaged in the manufacturing and supply of steel pipes, tubes and related products used across infrastructure and industrial applications. Its product portfolio includes MS black pipes, tubes, galvanized pipes, metal beam crash barriers and GI tubular poles.
The company caters to a wide range of sectors, including water supply and plumbing, infrastructure and construction, roads and highways, bridges, oil and gas, chemicals, agriculture and rural electrification.
Jindal Supreme generates revenue primarily from the sale of MS steel black pipes, galvanized pipes, metal beam crash barriers and GI poles, along with other operating income. Its dealer network stood at 53 dealers as of December 2025, compared with 49, 34 and 30 dealers in Fiscal 2025, 2024 and 2023, respectively.
The company operates its manufacturing facility in Hisar, Haryana, which is equipped with raw material handling and preparation equipment, including an uncoiler, shear and end-cutting machine and coil accumulator.
As of June 30, 2025, the company had 231 employees and has built capabilities around a diversified product portfolio, backward integration and technology.
Strengths
Diversified Product Portfolio: The company manufactures a range of steel pipes, tubes, crash barriers and GI poles catering to multiple infrastructure and industrial applications. Its presence across several end-use sectors helps diversify its product offerings.
Backward Integration: Jindal Supreme has backward integration capabilities within its manufacturing operations. This supports greater control over production processes and raw material preparation.
Technological Capabilities: The company's manufacturing facility is equipped with specialised machinery for raw material handling and preparation. These capabilities support its manufacturing processes and product quality.
Risk Factors
Single Manufacturing Location: The company's manufacturing operations are concentrated at a single facility in Hisar, Haryana. Any disruption, breakdown, shutdown or adverse local or regional development affecting this facility could materially impact its business and financial performance.
High Working Capital Requirements: The company requires significant working capital to support its continued growth and operations. Any inability to meet its working capital requirements could adversely affect its results of operations.
Raw Material Price Volatility: Production costs are exposed to fluctuations in the prices of key raw materials, particularly Mild Steel Coils, MS Hot-Rolled Coil and galvanizing materials. Significant increases in these prices could raise production costs and adversely affect overall financial results.