Jindal Supreme (Mainboard IPO)
📅 Dates: 16-18 September • 💰 Issue Size: ₹124.88 Cr.Complete guide to Jindal Supreme Mainboard IPO: latest Grey Market Premium (GMP), live bidding subscription status, price band, lot size, financial report, and investment analysis.
📊 Overview & Key Highlights
| Parameter | Details |
|---|---|
| Issue Type | Mainboard IPO (BSE, NSE) |
| Issue Dates | 16-18 September |
| Price Band | ₹88 to ₹93 |
| Total Issue Size | ₹124.88 Cr. |
| Minimum Market Lot | 161 shares (Min. Inv: ₹14,973) |
| Listing Price (Debut) | ₹198.45 (+₹9.45 (+5.00%) 🚀) |
| Subscription Status | 177.03x (Final / Bidding Closed) |
| Investor Demand Rating | ⭐⭐⭐⭐⭐ (5/5 - Blockbuster Demand) |
📅 Tentative Timetable
| IPO Open Date: | September 16, 2026 |
| IPO Close Date: | September 18, 2026 |
| Basis of Allotment: | September 21, 2026 |
| Refunds: | September 22, 2026 |
| Credit to Demat Account: | September 22, 2026 |
| IPO Listing Date: | September 23, 2026 |
📈 Live Subscription Demand
| Category | Subscription Multiplier (x) |
|---|---|
| Qualified Institutional (QIB) | 126.41x |
| Non-Institutional / HNI | 326.84x |
| Retail Individual (RII) | 141.75x |
| Total Subscription | 177.03x (Updated: 07 Oct, 17:43) |
💼 Market Lot & Investment Sizing
| Application | Lot Size | Shares | Amount |
| Retail Minimum | 1 | 161 | ₹14,973 |
| Retail Maximum | 13 | 2,093 | ₹1,94,649 |
| S-HNI Minimum | 14 | 2,254 | ₹2,09,622 |
| S-HNI Maximum | 66 | 10,626 | ₹9,88,218 |
| B-HNI Minimum | 67 | 10,787 | ₹10,03,191 |
💰 Financial Summary
| Period Ended | Revenue | Expense | PAT | Assets |
| 2024 | ₹650.88 | ₹635.80 | ₹12.87 | ₹181.16 |
| 2025 | ₹604.74 | ₹572.35 | ₹24.27 | ₹200.33 |
| 2026 | ₹675.94 | ₹645.79 | ₹22.53 | ₹248.41 |
| June 2026 | ₹191.09 | ₹180.05 | ₹8.28 | ₹232.65 |
🎯 Investment Analysis & Verdict
1. Business SummaryJindal Supreme manufactures and supplies a diverse range of steel products, including MS black and galvanized pipes, metal beam crash barriers, and GI tubular poles. The company earns its revenue by selling these essential components to sectors such as infrastructure, construction, agriculture, and road safety.
2. Key Strengths
• Established Track Record: Operating since 1974, the company brings over five decades of manufacturing expertise and deep industry trust.
• Backward Integration & Facilities: Its Hisar plant is fully equipped with advanced mills, welding, and galvanizing setups, ensuring operational efficiency and quality control.
• New Product Expansion: Recent diversification into high-margin highway safety products (W-beam/Thrie-beam crash barriers) and GI tubular poles opens up fresh avenues for growth.
3. Key Risks & Watchouts
• Debt-Heavy Focus: The entire IPO is a fresh issue primarily aimed at repaying borrowings (₹71 crores), meaning existing shareholders are deleveraging using public money rather than raising growth capital.
• Cyclical Commodity Exposure: As a steel product manufacturer, margins remain vulnerable to volatile raw material prices and cyclical demand from infrastructure and real estate sectors.
• Limited Scale: Facing stiff competition from larger steel players, scaling specialized products successfully in a crowded market will be a continuous execution test.
4. Retail Verdict
While the debt reduction via the IPO improves the balance sheet, the lack of a primary growth kicker makes this a cautious bet. Investors looking for aggressive returns might want to watch quarterly execution on new product lines before jumping in.
🏢 About Jindal Supreme | Dates: 16-18 September | Price: ₹88 to ₹93 | Lot: 161
Jindal Supreme, founded in March 1974, is one of the leading manufacturers and suppliers of steel pipes, tubes, and other steel products. 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 used in various applications such as water supply and plumbing, infrastructure and construction, roads and highways, bridges, oil and gas, chemicals, agriculture and rural electrification, among others.Moreover, in FY25, Jindal started to manufacture W-beam and Thrie-beam metal crash barriers used on highways and roads to improve safety. Later, in FY26, it started making GI tubular poles used for street lighting. Its manufacturing facility is located in Hisar which is equipped with mills, welding plants, galvanizing plants, and other machinery.
🎯 Objects of the Issue
• Repayment/pre-payment, in full or in part, of certain outstanding borrowings: ₹71.00 Cr• General Corporate Purpose
📬 Registrar & Allotment Information
Bigshare Services Pvt. Ltd. Phone: +91-22-6263 8200 Email: [email protected] Website: Big Share Online💬 Community Discussion & Views
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Disclaimer: All IPO details provided above are for educational and informational purposes only. Readers are advised to consult their financial advisors and review the Red Herring Prospectus (RHP) before investing.
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