Jindal Supreme Leads Subscription Surge as SS Retail and Hero Motors IPOs Close Today — September 18, 2026

The bustling Indian primary market witnessed the final day of bidding on Friday for three prominent initial public offerings: Jindal Supreme (India) Limited, SS Retail Limited, and Hero Motors Limited. Across the spectrum of infrastructure materials, consumer electronics retail, and auto components, all three issues saw brisk bidding, with Jindal Supreme leading the momentum following massive oversubscriptions.

The three public offerings opened for subscription on September 16 and close on September 18. Share allotment for all three companies is scheduled to be finalized on September 21, followed by their market debut on both the National Stock Exchange (NSE) and BSE on September 23.

Jindal Supreme (India) Spearheads Primary Market Rush

Hisar-based steel pipe and infrastructure product manufacturer Jindal Supreme (India) has emerged as the frontrunner in terms of demand intensity. The company’s ₹124.88 crore public issue had already been subscribed over 31.50 times by the end of Day 2, driven by widespread retail and non-institutional investor participation.

Key Details of Jindal Supreme IPO:

• Issue Size: ₹124.88 crore, consisting of a fresh issue of ₹99.89 crore (1.07 crore equity shares) and an offer for sale (OFS) of ₹24.99 crore (26.87 lakh equity shares) by VVJ Enterprise Private Limited.
• Price Band: ₹88 to ₹93 per share, with a minimum lot size of 161 shares.
• Capital Utilization: Net proceeds from the fresh issue will primarily fund debt repayment worth ₹71 crore, with the remainder reserved for general corporate purposes.
• Business Profile: The company manufactures mild steel black pipes, galvanized tubes, crash barriers, and tubular poles catering to highway infrastructure and water supply projects.

SS Retail Sees Strong Buying Interest

Multi-brand electronics retailer SS Retail Limited also drew significant bids on its final subscription day. By midday on Friday, the ₹500 crore issue was subscribed nearly 26 times, spurred by heavy bidding in the Non-Institutional Investor (NII) segment.

Key Details of SS Retail IPO:

• Issue Size: ₹500 crore, comprising a fresh issue of ₹360 crore and an OFS component of ₹140 crore.
• Price Band: ₹403 to ₹424 per share, with a lot size of 35 equity shares.
• Capital Utilization: The fresh capital is earmarked for setting up new stores and retail fit-outs in fiscal years 2027 and 2028, funding incremental working capital requirements, and general corporate purposes.
• Business Profile: The firm operates more than 500 multi-brand stores across Maharashtra, Karnataka, Madhya Pradesh, Goa, and Gujarat, specializing in smartphones and accessories in Tier II, Tier III, and deeper regional pockets.

Hero Motors Witnesses Steady Participation

Auto component maker Hero Motors Limited, which launched the largest issue of the trio at ₹1,000 crore, reported solid engagement, clearing more than 7 times total subscription on its final day. Ahead of the public issue, Hero Motors secured ₹299.99 crore from anchor investors.

Key Details of Hero Motors IPO:

• Issue Size: ₹1,000 crore, comprising a fresh issue of ₹600 crore alongside an OFS worth ₹400 crore offloaded by promoters Hero Cycles Limited and OP Munjal Holdings.
• Price Band: ₹79 to ₹84 per share, with an application lot size of 178 shares.
• Capital Utilization: Fresh issue proceeds will be used for debt clearance of ₹190 crore, capacity expansion equipment at its Gautam Buddha Nagar manufacturing plant (up to ₹200 crore), inorganic acquisitions, and corporate requirements.
• Business Profile: Hero Motors designs and manufactures powertrain solutions, transmissions, and alloy assemblies for global automotive OEMs, with expanding exposure to electric vehicles and e-mobility drive systems.

With the closing of bids today, market participants now await the final share allotment statuses on September 21, before trading commences on September 23.

Tags: Jindal Supreme India SS Retail Hero Motors IPO BSE NSE