The Jindal Supreme IPO opens for subscription today, September 16, 2026, kicking off a three-day bidding window for investors. Ahead of the issue opening, the IPO is attracting attention in the grey market, where its Grey Market Premium (GMP) stands at around 29%, indicating strong market expectations for its potential listing performance.
The Rs 124.88 crore Jindal Supreme IPO comprises a fresh issue of 1.07 crore shares worth Rs 99.89 crore and an offer for sale (OFS) of 26.87 lakh shares aggregating to Rs 24.99 crore.
The IPO will remain open for subscription from September 16 to September 18, 2026. The allotment is expected to be finalized on September 21, 2026, while the shares are proposed to be listed on both the NSE and BSE on September 23, 2026, subject to the applicable schedule.
Jindal Supreme has fixed the IPO price band at Rs 88–Rs 93 per share. The lot size is 161 shares, meaning retail investors need to invest a minimum of Rs 14,973 when applying at the upper end of the price band.
Sarthi Capital Advisors Pvt. Ltd. is the book-running lead manager for the issue, while Bigshare Services Pvt. Ltd. is the registrar.
Jindal Supreme IPO GMP Today
The Jindal Supreme IPO GMP is currently Rs 27, or around 29%, based on the upper end of the IPO price band of Rs 93 per share. At the prevailing GMP, the IPO’s estimated listing price stands at around Rs 120 per share.
GMP Note: The Grey Market Premium (GMP) is an unofficial market indicator and is not regulated or guaranteed. GMP trends can change before listing, and the actual listing price may differ significantly from the estimated price.
IPO Objects of the Issue
The company proposes to utilise the Rs 71 crore net IPO proceeds primarily towards the repayment or pre-payment of certain outstanding borrowings, either in full or in part. The remaining amount, if any, will be used for general corporate purposes.
Jindal Supreme (India) total income increased by 12% from Rs 605 crore in FY25 to Rs 676 crore in FY26. Despite the growth in revenue, profit after tax (PAT) declined by 7% from Rs 24 crore in FY25 to Rs 23 crore in FY26.
About Jindal Supreme (India) Ltd.
Incorporated in March 1974, Jindal Supreme (India) Limited is a steel products manufacturer with over five decades of experience. The Company manufactures MS black pipes and tubes, galvanized pipes, metal crash barriers and GI tubular poles for infrastructure and industrial applications. Its products are used across water supply and plumbing, construction, roads and highways, bridges, oil & gas, agriculture and rural electrification. The Company expanded into W-beam and Thrie-beam crash barriers in FY2025 and GI tubular poles in FY2026.
The Company operates primarily through a B2B model, serving institutional and industrial customers, infrastructure contractors and dealers. Its manufacturing facility is located in Hisar, Haryana, with in-house mills, welding and galvanizing plants, maintenance and testing facilities. As of June 30, 2026, the Company had 53 dealers and 242 employees, with a strong dealer presence across northern India.
