Jindal Supreme IPO 2026 — Key Details
Jindal Supreme (India) Limited makes steel pipes and tubes. It’s based in Hisar, Haryana. The company is coming out with an IPO to raise money from the public.
About the issue
The company wants to raise around ₹124.88 crore. This will happen in two parts:
- A fresh issue — new shares, with the money going to the company itself
- An offer for sale — existing shareholders selling some of their shares, with that money going to them, not the company
Price and lot size
- Price band: ₹88 to ₹93 per share
- Lot size: 161 shares (you can only apply in multiples of one lot)
- Minimum investment: ₹14,973 if you apply at the upper price band (₹93 × 161 shares)
Important dates
- Opens for subscription: September 16, 2026
- Closes for subscription: September 18, 2026
- Listing date: September 23, 2026
What the money will be used for
The fresh issue proceeds are mainly meant to reduce the company’s outstanding borrowings — in simple terms, pay off some of its existing debt.
A quick note
Things like the current GMP (grey market premium) and the exact allotment date usually change day to day while an IPO is open, so those numbers can go stale fast. If you want, I can look those up for you with current data.
Let me know if you’d like me to pull current GMP and allotment numbers once search is on.
The Jindal Supreme IPO comes at a time when investor interest in India’s primary market remains high, with several major issues also attracting attention, including the upcoming [NSE IPO 2026].
Jindal Supreme IPO 2026: Key Details
| Particular | Details |
|---|---|
| Company | Jindal Supreme (India) Limited |
| IPO Type | Mainboard |
| Issue Type | Book Building |
| IPO Open Date | September 16, 2026 |
| IPO Close Date | September 18, 2026 |
| Price Band | ₹88 – ₹93 |
| Face Value | ₹10 per share |
| Lot Size | 161 shares |
| Minimum Investment | ₹14,973 |
| Total Issue Size | ₹124.88 crore |
| Fresh Issue | ₹99.89 crore |
| Offer for Sale | ₹24.99 crore |
| Allotment Date | September 21, 2026 |
| Refund/Unblocking | September 22, 2026 |
| Demat Credit | September 22, 2026 |
| Listing Date | September 23, 2026 |
| Listing Exchanges | NSE and BSE |
| Registrar | Bigshare Services |
The offer consists of up to 1,07,41,149 fresh equity shares and up to 26,86,851 shares offered for sale by VVJ Enterprise Private Limited, a promoter-group selling shareholder.
Investors can refer to the official Red Herring Prospectus (RHP) filed with SEBI for detailed information about the Jindal Supreme IPO, including the company’s financials, risks and use of proceeds. Official Jindal Supreme RHP on SEBI.
Jindal Supreme IPO GMP Today
Jindal Supreme IPO GMP is around ₹27, according to unofficial grey-market indications. At the ₹93 upper price band, this implies an indicative price of around ₹120. However, GMP is unofficial and does not guarantee the actual listing price.
At the upper IPO price of ₹93, a ₹27 GMP implies an indicative grey-market price of approximately ₹120 per share, or about 29% above the upper issue price.
However, investors should treat GMP only as an unofficial market indicator. Grey-market premiums are not regulated exchange prices and can change before listing. They also do not guarantee the actual listing price.
Recent reported GMP levels have moved up from around ₹11 on September 9 to ₹27 by September 14-15.
Important: BizzTechDaily should not present ₹120 as the expected or guaranteed listing price. The article should clearly call it an indicative GMP-based price.
What Does Jindal Supreme Do?
Jindal Supreme (India) Limited is a steel products manufacturer with roots going back to 1974.
The company manufactures and supplies products including:
- Mild Steel (MS) black pipes and tubes
- Galvanized pipes and tubes
- Metal beam crash barriers
- Galvanized Iron (GI) tubular poles
Its products are used across sectors such as infrastructure, construction, water supply, plumbing, roads and highways, bridges, agriculture and rural electrification.
The company operates its manufacturing facility in Hisar, Haryana.
According to the available company information, the facility has installed capacity of around 1,71,000 MT per year, while the company had 53 dealers as of June 30, 2026.
The company expanded its product portfolio in recent years, including W-beam and Thrie-beam crash barriers and GI tubular poles.
More information about Jindal Supreme’s products, operations and corporate profile is available on the company’s official website. Jindal Supreme Official Website.
indal Supreme IPO: Where Will the Money Go?
This is one of the more important aspects of the IPO.
The company plans to use approximately ₹71 crore from the issue proceeds toward repayment or pre-payment of certain outstanding borrowings.
The remaining proceeds are intended for general corporate purposes.
That means a significant portion of the fresh capital is aimed at strengthening the company’s balance sheet rather than funding a large new manufacturing expansion.
The structure is:
Fresh Issue: ₹99.89 crore
→ Money goes to the company
Offer for Sale: ₹24.99 crore
→ Proceeds go to the selling shareholder
Total IPO: ₹124.88 crore
Jindal Supreme Financial Performance
The company’s financial performance presents a mixed picture.
Financials
| ₹ Crore | FY24 | FY25 | FY26 |
|---|---|---|---|
| Total Income | 650.88 | 604.74 | 675.94 |
| EBITDA | 21.11 | 25.92 | 41.63 |
| PAT | 12.87 | 24.27 | 22.53 |
| Net Worth | 50.31 | 74.64 | 96.82 |
| Total Borrowings | 104.92 | 95.84 | 119.87 |
For FY26, total income increased to approximately ₹675.94 crore from ₹604.74 crore in FY25.
However, profit after tax declined to ₹22.53 crore from ₹24.27 crore despite the higher revenue. EBITDA improved significantly to approximately ₹41.63 crore.
For the quarter ended June 30, 2026, the company reported total income of around ₹191.09 crore and PAT of approximately ₹8.28 crore.
This is worth highlighting because the revenue growth alone doesn’t tell the complete story. Investors should also look at margins, debt and profitability.
Jindal Supreme IPO Valuation
At the upper price band of ₹93, the company’s post-issue market capitalisation is estimated at around ₹474.5 crore.
The reported post-issue P/E works out to approximately 14.33x, based on the offer-document calculations.
For comparison, the offer document identifies companies such as Vibhor Steel Tubes, Sambhv Steel Tubes and Hi-Tech Pipes as listed peers.
The valuation therefore needs to be considered alongside the company’s profitability, debt levels, steel-price exposure and operating concentration rather than judged purely on the GMP.
Investors tracking the current IPO market can also read our detailed coverage of the [Hero Motors IPO 2026], including its issue details, valuation and listing timeline.
Strengths of Jindal Supreme
1. Long operating history
The company traces its origins to 1974, giving it decades of experience in the steel products industry.
2. Diversified product portfolio
Jindal Supreme manufactures pipes, tubes, crash barriers and GI tubular poles, allowing it to serve multiple infrastructure and industrial applications.
3. Improving EBITDA
EBITDA increased from approximately ₹25.92 crore in FY25 to ₹41.63 crore in FY26.
4. Fresh capital for debt reduction
A significant portion of the fresh issue is intended for repayment/pre-payment of borrowings, which could help reduce financial leverage.
5. Dealer network
The company had 53 dealers as of June 30, 2026, compared with 49 in FY25 and 34 in FY24.
Risks Investors Should Consider
The IPO also carries several risks that shouldn’t be ignored.
Single manufacturing location
Jindal Supreme’s operations are concentrated at its manufacturing facility in Hisar, Haryana. Any significant disruption at this facility could affect production and financial performance.
Steel price volatility
The company’s profitability is exposed to fluctuations in the prices of key raw materials, particularly steel coils and galvanizing materials.
This is particularly important because steel is a commodity business where input prices can move faster than selling prices.
Supplier concentration
The company relies heavily on its top suppliers for raw materials. This creates additional supply-chain risk.
Dependence on core products
Black pipes and galvanized pipes account for a substantial portion of the company’s revenue, making demand in these segments particularly important.
Profit declined in FY26
Although revenue increased in FY26, PAT declined from ₹24.27 crore to ₹22.53 crore. Investors therefore need to look beyond revenue growth.
Jindal Supreme IPO Allotment and Listing Timeline
The IPO timetable is as follows:
September 16, 2026: IPO opens
September 18, 2026: IPO closes
September 21, 2026: Allotment finalisation
September 22, 2026: Refunds/unblocking and demat credit
September 23, 2026: Expected listing on NSE and BSE
Investors should note that these dates are subject to the final exchange/registrar process.
Should You Apply for the Jindal Supreme IPO?
The Jindal Supreme IPO presents a combination of improving revenue and EBITDA, an established operating history and a debt-reduction objective, but it also comes with meaningful risks.
The positive side includes the company’s long operating history, expanding dealer network, stronger EBITDA and the use of IPO proceeds for debt repayment.
On the other hand, investors should consider the company’s exposure to steel prices, dependence on a single manufacturing location, supplier concentration and the decline in FY26 PAT.
The reported GMP of around ₹27 indicates positive unofficial market sentiment ahead of the issue, but GMP should not be treated as a substitute for fundamental analysis.
For investors evaluating the IPO, the key question is therefore not simply whether the shares could list at a premium, but whether Jindal Supreme’s earnings and margins can remain sustainable after listing.
Jindal Supreme IPO: Final Takeaway
The Jindal Supreme IPO 2026 is a relatively small mainboard issue of approximately ₹124.88 crore entering the market during a particularly busy IPO period.
With a price band of ₹88-₹93, a lot size of 161 shares and a minimum investment of ₹14,973, the issue is accessible to retail investors.
The company has a long operating history and has shown strong EBITDA improvement, while a large part of the fresh issue is earmarked for reducing borrowings.
However, investors should also account for commodity-price volatility, operational concentration and the company’s mixed recent profitability.
The IPO may attract attention because of its positive GMP, but the actual listing performance and long-term returns will ultimately depend on business performance, valuation and market conditions.
Disclaimer: This article is for informational and educational purposes only and should not be considered investment advice. Investors should read the company’s RHP and evaluate their own risk tolerance before investing.