Jindal Supreme made a robust debut on the stock exchanges, with shares closing at ₹126 on Wednesday, representing a 35.5% return over the issue price. According to The Hindu BusinessLine, the stock debuted at ₹120 on BSE, achieving a 35.5% premium over the IPO's upper price band of ₹93 per share. The stock has hit a high of ₹126 and a low of ₹120, with strong trading volumes demonstrating sustained investor confidence in the steel pipes manufacturer's prospects.
The initial public offering of Jindal Supreme was oversubscribed 181.07 times by the third and final day of bidding on September 18, according to NSE data. The category-wise subscription breakdown showed Qualified Institutional Buyers (QIB) subscribing 126.41 times, Non-Institutional Investors (NII) subscribing 327.99 times, and Retail Investors subscribing 149.34 times. As reported by The Hindu BusinessLine, the company commanded a market valuation of ₹653.05 crore following the successful listing. The issue opened for bidding on September 16, 2026, and closed on September 18, 2026, with the price band fixed between ₹88 and ₹93 per share.
The IPO was a book-build issue of ₹124.88 crore with a price band set between ₹88 and ₹93 per share. According to The Hindu BusinessLine, the issue comprised a fresh issue of 1.07 crore shares aggregating to ₹99.89 crore and an offer for sale of 26.87 lakh shares worth ₹24.99 crore. The offer for sale was by VVJ Enterprises, a promoter group company. The proceeds from the fresh issue will be used for payment of debt and general corporate purposes. Retail investors were required to bid for a minimum lot size of 161 shares, translating to a minimum investment of ₹14,973 at the upper end of the price band. Sarthi Capital Advisors Pvt. Ltd. served as the book running lead manager, while Bigshare Services Pvt. Ltd. acted as the registrar.
Ahead of the IPO, Jindal Supreme on Tuesday, September 15, 2026, raised ₹37.46 crore from anchor investors. As reported by Business Standard, the board allotted 40.28 lakh shares at ₹93 each to 5 anchor investors. Incorporated in March 1974, Jindal Supreme (India) Ltd. has been engaged in the manufacturing and supply of steel pipes, tubes and other steel products catering to infrastructure and industrial applications for over five decades. The company's product portfolio includes Mild Steel (MS) black pipes and tubes, galvanised pipes, metal beam crash barriers and Galvanised Iron (GI) tubular poles, with products finding application across water supply, infrastructure & construction, roads & highways, bridges, oil & gas, chemicals, agriculture, and rural electrification sectors.
The company reported a consolidated net profit of ₹8.28 crore and sales of ₹190.94 crore for the twelve months ended March 31, 2026. According to Business Standard, the business model is primarily focused on direct sales, primarily to institutional buyers for specific projects or applications like infrastructure contractors and industrial customers. In FY26, the contribution of income from sale of products to the revenue from operations was 91.56%, with 42.94% from MS black pipes/tubes, 26.54% from MS galvanized pipes, 17.41% from metal beam crash barriers, and 4.66% from GI tubular poles, while the balance 8.36% came from other operating income including sales of scrap and strip and zinc dross.
