SUPREME
Jindal Supreme IPO Complete Review & Analysis
Detailed evaluation of issue structure, financial performance, five-decade manufacturing legacy, and valuation metrics on ipoind.com.
Mainboard IPO Research
Jindal Supreme IPO is structured as a book-built issue aiming to raise a total of ₹124.88 crores from the primary capital markets. The public offering comprises a fresh issue of 1.07 crore shares aggregating to ₹99.89 crores, alongside an offer for sale (OFS) of 26.87 lakh shares aggregating to ₹24.99 crores. Investors looking for comprehensive primary market intelligence, live subscription data, and grey market updates can rely entirely on ipoind.com for real-time synchronization.
₹88 to ₹93 per share
161 Shares (Min ₹14,973)
16 Sep – 18 Sep, 2026
Wed, Sep 23, 2026
1. Jindal Supreme IPO Timetable & Schedule (Tentative Roadmap)
The formal timeline for the book-built public issue outlines key milestones from bidding opening through final exchange listing. Retail and institutional participants must complete mandatory UPI mandate authorizations prior to the closing deadline:
| Milestone Event | Calendar Date |
|---|---|
| IPO Opening Date | Wed, Sep 16, 2026 |
| IPO Closing Date | Fri, Sep 18, 2026 |
| Basis of Allotment Finalization | Mon, Sep 21, 2026 |
| Initiation of Refunds & Demat Credit | Tue, Sep 22, 2026 |
| Listing Date (BSE & NSE) | Wed, Sep 23, 2026 |
2. Issue Structure, Lot Sizes & Investor Quotas
Bidding parameters are structured to accommodate different tiers of market participants. Investors can apply for a minimum of 161 equity shares and in multiples thereof. The category-wise reservation breakdown is governed by regulatory compliance standards:
- Qualified Institutional Buyers (QIB): Not more than 50% of the offer size is allocated to institutional funds, foreign portfolio investors, and domestic financial institutions.
- Retail Individual Investors (RII): Not less than 35% of the offer is reserved for retail applicants bidding up to ₹2,00,000, with mandatory cut-off price option enabled.
- Non-Institutional Investors (NII / HNI): Not less than 15% of the offer is designated for high-net-worth participants, subdivided into Small HNIs (sNII) and Big HNIs (bNII).
Retail and HNI Application Slabs
| Application Type | Lots | Shares | Total Amount (₹) |
|---|---|---|---|
| Retail (Min) | 1 | 161 | ₹14,973 |
| Retail (Max) | 13 | 2,093 | ₹1,94,649 |
| Small HNI (Min) | 14 | 2,254 | ₹2,09,622 |
| Big HNI (Min) | 67 | 10,787 | ₹10,03,191 |
3. Corporate Background & Manufacturing Legacy of Jindal Supreme
Guided by an “India First” philosophy and a strong belief in self-reliance, the Jindal family legacy has played an instrumental role in shaping India’s steel, power, mining, and infrastructure landscape. Forged in 1974 under the visionary leadership of Shri M.L. Jindal, Jindal Supreme (India) Limited has stood as a symbol of industrial excellence for over five decades. What began as a humble operation in Hisar, Haryana, with a single tube mill and an integrated galvanizing unit has today grown into a modern 16-acre manufacturing complex equipped with advanced ERW pipe mills, high-precision galvanizing plants, coil-slitting units, cutting-edge testing laboratories, and in-house R&D capabilities.
Strengthened over time by the leadership of Shri Janak Raj Jindal and Shri Abhishek Jindal, the company carries forward a legacy built on integrity, innovation, and national impact, pioneering early galvanizing technologies in India and contributing to flagship national missions such as Pradhan Mantri Awas Yojana and Ghar Ghar Jal Yojana. The company is primarily engaged in manufacturing and supplying steel pipes, tubes, hollow sections, galvanized products, metal beam crash barriers, and GI tubular poles catering to infrastructure and industrial applications.
Installed Capacities & Product Portfolio
- 90,000 MTPA: MS Black Pipes & Tubes.
- 45,000 MTPA: Galvanized Pipes & Tubes.
- 24,000 MTPA: Metal Beam Crash Barriers (W-Beam & Thrie-Beam introduced in Fiscal 2025).
- 12,000 MTPA: GI Tubular Poles (Introduced in Fiscal 2026 for street lighting and public utility infrastructure).
- Hollow Sections: RHS / SHS structural steel solutions.
Key Competitive Strengths & Quality Standards
Every product manufactured under the Jindal Supreme name stands for uncompromised strength, safety, and sustainability. To uphold the highest product standards, the company sources premium raw materials exclusively from industry leaders such as JSW and Jindal Steel, ensuring superior structural reliability.
- Over five decades of proven expertise and industrial leadership in steel manufacturing.
- Strategic manufacturing facility location in Hisar, Haryana, supported by strong dealer relationships (53 active dealers as of June 30, 2026).
- Certified quality management systems complying with international and national IS standards.
- Robust B2B business model combining direct institutional sales with an extensive northern state dealer network.
4. Restated Consolidated Financial Performance
The company’s financial discipline, revenue stability, and profitability trends are reflected across its comprehensive restated financial statements:
| Financial Metric (₹ Cr) | 30 Jun 2026 | FY 2026 | FY 2025 | FY 2024 |
|---|---|---|---|---|
| Total Assets | 232.65 | 248.41 | 200.33 | 181.16 |
| Total Income | 191.09 | 675.94 | 604.74 | 650.88 |
| Profit After Tax (PAT) | 8.28 | 22.53 | 24.27 | 12.87 |
| EBITDA | 13.76 | 41.63 | 25.92 | 21.11 |
| Net Worth | 105.02 | 96.82 | 74.64 | 50.31 |
| Total Borrowing | 92.46 | 119.87 | 95.84 | 104.92 |
5. Objectives of the Net Proceeds
The company intends to channelize fresh issue net proceeds toward strengthening its balance sheet and supporting corporate growth:
- Debt Repayment: Repayment or pre-payment, in full or in part, of certain outstanding borrowings availed by the company (Estimated allocation: ₹71.00 Cr).
- General Corporate Purposes: Supporting routine corporate growth initiatives, technological upgrades, and operational contingencies.
6. Key Performance Indicators (KPIs) & Valuation Ratios
Return on Equity (ROE): 26.28%
Return on Capital Employed (ROCE): 16.78%
Debt-to-Equity Ratio: 1.24
PAT Margin: 3.33% | EBITDA Margin: 6.16%
Diluted EPS (Post-Issue): ₹6.49
Price-to-Earnings (P/E Multiple): 14.33x
Net Asset Value (NAV): ₹24.04
Post-Issue Market Capitalization: ₹474.52 Cr
7. Corporate Promoters, Advisors & SEBI RHP Reference
Promoters: Abhishek Jindal and Sonam Jindal.
Book Running Lead Manager: Sarthi Capital Advisors Pvt. Ltd.
Registrar to the Issue: Bigshare Services Pvt. Ltd. (Contact: 8657578989 | Email: ipo@bigshareonline.com).
SEBI RHP Reference: Refer to the official Jindal Supreme IPO RHP document hosted by Sarthi Capital Advisors for comprehensive legal and financial disclosures.
Official Platform Tracking: All primary market updates, subscription multiples, and registrar links are continuously verified and updated on ipoind.com.
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Grey Market Premium (GMP) Notice: Figures regarding Grey Market Premium (GMP), Kostak rates, and subject-to-sauda deals reflect unofficial, unregulated over-the-counter market sentiment. These figures do not guarantee exchange listing prices or actual trading outcomes. Always evaluate official Draft Red Herring Prospectus (DRHP / RHP) documents filed with BSE/NSE and consult a certified financial advisor prior to executing financial bidding decisions.