Jindal Supreme India Sets IPO Price Band at ₹88-93 to Raise ₹125 Crore

Jindal Supreme (India) Limited has finalized the parameters for its maiden public issue, launching a ₹124.88 crore initial public offering (IPO) on Wednesday, September 16, 2026. The Haryana-based manufacturer of steel pipes and infrastructure products has set a price band of ₹88 to ₹93 per equity share having a face value of ₹10 each.

The book-built issue is scheduled to close for bidding on Friday, September 18, 2026, while the anchor investor allocation will be conducted a day prior, on Tuesday, September 15, 2026. At the upper end of the price band, the post-issue market capitalization of Jindal Supreme is estimated at around ₹474.52 crore.

Here are the key aspects of the Jindal Supreme (India) IPO:

Issue Structure and Breakdown

The public offer aggregates up to ₹124.88 crore and comprises two distinct parts:

• A fresh issue of 1.07 crore equity shares amounting to ₹99.89 crore.
• An offer for sale (OFS) of 26.86 lakh equity shares aggregating to ₹24.99 crore by promoter group entity VVJ Enterprise Private Limited (formerly J J Jindal Infin Private Limited).

Because proceeds from the OFS component go directly to the selling promoter, Jindal Supreme will receive only the net proceeds from the fresh capital raise.

Lot Size and Retail Participation

Retail investors can bid for a minimum of 161 equity shares and in multiples of 161 shares thereafter. At the cut-off price of ₹93 per share, the minimum investment amount required for a single retail lot stands at ₹14,973.

Key IPO Timeline

The bidding and allotment schedule for the issue is as follows:

• Anchor bidding date: September 15, 2026
• Public issue opening date: September 16, 2026
• Public issue closing date: September 18, 2026
• Finalization of basis of allotment: September 21, 2026
• Initiation of refunds and Demat credit: September 22, 2026
• Expected listing date: September 23, 2026, on both the BSE and the National Stock Exchange of India (NSE)

Utilization of IPO Proceeds

The company intends to utilize the ₹99.89 crore net proceeds from the fresh issue predominantly for deleveraging. Specifically, ₹71 crore is earmarked for the full or partial prepayment or repayment of outstanding borrowings, while the remaining ₹28.89 crore will be deployed for general corporate purposes. The retirement of debt is projected to trim interest costs and strengthen the firm's balance sheet flexibility.

Business Operations and Capabilities

Originally incorporated in 1974 as Janak Steel Tubes Private Limited, the company operates primarily in the steel piping segment from its manufacturing plant in Hisar, Haryana. Jindal Supreme manufactures Mild Steel (MS) black pipes, MS galvanized pipes, metal beam crash barriers, and galvanized iron (GI) tubular poles.

Its products cater to a range of downstream end-user sectors, including water distribution, construction, highways and bridges, rural electrification, and general industrial engineering. The company possesses an installed manufacturing capacity of 1,71,000 metric tonnes per annum (MTPA) and relies on a regional distribution network spanning 53 dealers across Northern India.

Financial Snapshot

For the financial year ended March 31, 2026, Jindal Supreme reported:

• Total income of ₹675.94 crore, compared to ₹604.74 crore in FY25.
• Operating EBITDA of ₹42.18 crore, compared to ₹44.26 crore in the prior fiscal year.
• Profit after tax (PAT) of ₹22.53 crore, down from ₹24.27 crore in FY25.

Intermediaries

Sarthi Capital Advisors Private Limited is acting as the sole book-running lead manager for the issue, and Bigshare Services Private Limited serves as the registrar to the offer.

Tags: Jindal Supreme India BSE NSE SEBI Sarthi Capital Advisors Iron and Steel