Jindal Supreme IPO Opens September 16: Price Band and Key Details

Mumbai | 10 September 2026 

Jindal Supreme’s IPO will open for public subscription on 16 September 2026 and close on 18 September 2026, with equity shares likely to list on the stock exchanges on 23 September 2026. The price band has been fixed at ₹88 to ₹93 per share, valuing the company at ₹475 crore. The one-day anchor investor bidding will open on 15 September 2026, and the basis of allotment is expected to be finalised by 21 September 2026. 

What Is The Structure Of The Jindal Supreme IPO? 

The Haryana-based steel pipes and tubes maker’s IPO comprises a fresh issue of 1.07 crore equity shares, aggregating up to ₹99.89 crore, and an offer for sale (OFS) of 26.87 lakh shares, aggregating up to ₹24.99 crore, by promoter entity VVJ Enterprise. Investors can bid for a minimum of 161 equity shares, and in multiples of 161 shares thereafter. 

Up to half the issue has been reserved for qualified institutional buyers, with at least 35% reserved for retail investors and at least 15% for non-institutional investors. 

Important dates 

What Is The Latest GMP For Jindal Supreme IPO? 

Shares of Jindal Supreme were commanding a grey market premium (GMP) of ₹13 as of 1:30 pm on 10 September 2026, according to InvestorGain. At the upper price band of ₹93, this GMP implies an estimated listing price of ₹106 per share, a potential listing gain of 13.98% over the upper issue price. 

GMP is an unofficial, informal indicator and does not guarantee the actual listing price or future performance of the stock. 

What Changed Since Jindal Supreme Filed Its DRHP? 

Jindal Supreme refiled its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) in April 2026, which the regulator approved in July 2026. 

What Does Jindal Supreme Do? 

Incorporated in March 1974, Jindal Supreme has manufactured and supplied steel pipes, tubes and other steel products for infrastructure and industrial applications for over five decades. Its product portfolio includes mild steel black pipes and tubes, galvanised pipes, metal beam crash barriers and galvanised iron tubular poles, used across water supply and plumbing, infrastructure and construction, roads and highways, bridges, oil and gas, chemicals, agriculture and rural electrification. It competes with listed peers Vibhor Steel Tubes, Sambhv Steel Tubes and Hi-Tech Pipes. 

The company’s manufacturing facility is located in Hisar, Haryana. It follows a business-to-business model, selling directly to institutional and industrial customers as well as through a dealer network, and had 53 dealers and 242 employees as of 30 June 2026. 

What Is Jindal Supreme’s Financial Performance? 

Jindal Supreme reported a profit of ₹22.5 crore for the year ended March 2026, down 7.2% from ₹24.3 crore in the previous year, primarily due to a decline in other income. Revenue for the same period rose 15.2% to ₹675.4 crore, from ₹586.4 crore. For the quarter ended June 2026, the company reported a profit of ₹8.2 crore on revenue of ₹190.9 crore. 

How Will Jindal Supreme Use The IPO Proceeds? 

Of the ₹71 crore in net fresh issue proceeds, Jindal Supreme will use the funds to repay loans, against total borrowings of ₹92.46 crore as of June 2026. The remaining proceeds will be used for general corporate purposes. Proceeds from the offer for sale will go to the selling shareholder, VVJ Enterprise. 

Stay updated on Indian equity and commodity markets. Read more market news on PL Capital. 

Disclaimer: Investments in securities market are subject to market risks, read all the related documents carefully before investing.

This is a knowledge-sharing initiative by PL Capital. The information provided is only for educational purposes and should not be considered as financial advice & has no influence on the investment/trading decisions of any investors.

For detailed disclaimers/disclosure and Mandatory terms and conditions please visit our website https://www.plindia.com/regulatory-content/