Jindal Supreme (India) IPO- Complete Overview
Jindal Supreme (India) IPO is a Mainboard IPO with an issue size of Rs. 124.88 Cr by Jindal Supreme (India) Limited, which is for more than 50 years in the production and distribution of steel pipes, tubes, and other steel products for industrial and infrastructural uses.
Metal beam crash barriers, galvanized pipes, mild steel (MS) black pipes and tubes, and galvanized iron (GI) tubular poles are among its product offerings. Water supply and plumbing, infrastructure and construction, roads and highways, bridges, oil and gas, chemicals, agriculture, and rural electrification are just a few of the uses for these goods, which are produced in different sizes in accordance with current Indian Standards.
In order to take advantage of new infrastructure prospects, the company has gradually expanded the range of products it offers. It started producing W-beam and Thrie-beam metal crash barriers in Fiscal 2025, mainly for highway infrastructure projects and traffic safety.
This new IPO is to be launched on 16 Sep 2026, and its ‘initial public offering’ will end on 18 Sep 2026.
Jindal Supreme (India) IPO Details
This Mainline IPO comprises a combination of a fresh issue of 1.07 Cr shares (Rs. 99.89 Cr) and an offer for sale of 0.26 Cr shares (Rs. 24.99 Cr). The Jindal Supreme (India) IPO listing date (expected) might be Wednesday, Sep 23, 2026, and the listing on the BSE and NSE.
The Jindal Supreme (India) IPO price band is Rs. 88 to Rs. 93.
IPO Timetable (Tentative)
The Jindal Supreme (India) IPO date is from 16 Sep to 18 Sep, with IPO allotment on Sep 21, refund initiation on Sep 22, and listing on Sep 23, 2026.
|
Events |
Date |
|
IPO Opening Date |
Sep 16, 2026 |
|
IPO Closing Date |
Sep 18, 2026 |
|
IPO Allotment Date |
Sep 21, 2026 |
|
Refund Initiation |
Sep 22, 2026 |
|
IPO Listing Date |
Sep 23, 2026 |
If you want to apply for the IPO, click to open a Demat Account.
Industry Overview & Outlook
The Indian steel pipes and tubes market was estimated at USD 14415.83 million in 2026 and is projected to reach approximately USD 23932.99 million by 2036, reflecting a compound annual growth rate (CAGR) of 5.20% over the period.
Jindal Supreme (India) Financial Performance
(Amount in Cr)
|
Particulars |
31 Mar 2026 |
31 Mar 2025 |
31 Mar 2024 |
|
Assets |
248.41 |
200.33 |
181.16 |
|
Total Income |
675.94 |
604.74 |
650.88 |
|
Profit After Tax |
22.53 |
24.27 |
12.87 |
|
EBITDA |
41.63 |
25.92 |
21.11 |
|
NET Worth |
96.82 |
74.64 |
50.31 |
|
Reserves and Surplus |
56.28 |
72.17 |
47.90 |
|
Total Borrowing |
119.87 |
95.84 |
104.92 |
Cash Flows
The cash flows for various activities are shown below:
(Amount in Mn)
|
Net Cash Flow In Multiple Activities |
31 Mar 2026 |
31 Mar 2025 |
31 Mar 2024 |
|
Net Cash Flow Operating Activities |
(568.73) |
573.98 |
2,020.02 |
|
Net Cash Flow Investing Activities |
(985.79) |
1,188.71 |
(4,304.55) |
|
Net Cash Flow Financing Activities |
1,554.38 |
(1,765.58) |
2,287.46 |
Jindal Supreme (India) - Business Model
Jindal Supreme (India) Limited manufactures and supplies steel pipes, tubes, and related products mainly for infrastructure and industrial use. The company earns most of its money by manufacturing and selling MS black pipes, galvanized pipes, and increasingly crash barriers and tubular poles, primarily through direct institutional sales, with a growing dealer network in northern India.
The company follows a dual-channel model:
Direct sales (primarily to institutional buyers such as infrastructure contractors and industrial customers) — this is the dominant channel.
Dealer network (mainly in northern Indian states) — the company has been expanding this channel.
Revenue Bifurcation
(Source RHP)
The Objective of the Issue
-
Repayment/pre-payment, in full or in part, of certain outstanding borrowings. ~ Rs. 71 Cr.
-
General Corporate Purposes.
Peers of Jindal Supreme (India)
|
Name of Company |
Face Value (₹) |
EPS (₹) Basic |
P/E (x) |
|
Vibhor Steel Tubes Limited |
10 |
4.64 |
23.06 |
|
Sambhv Steel Tubes Limited |
10 |
1.81 |
65.55 |
|
Hi-Tech Pipes Limited |
1 |
3.77 |
22.31 |
Evaluation of P/E Ratio
Considering the period ended on FY 2026 with an EPS of Rs. 5.59 from the last year, the resulting P/E ratio is 16.63x.
Jindal Supreme (India) IPO Valuation
|
KPI |
Value (Mar 31, 2026) |
|
ROE |
26.28% |
|
ROCE |
16.78% |
|
Debt/Equity |
1.24 |
|
RoNW |
26.28% |
|
PAT Margin |
3.33% |
|
EBITDA Margin |
6.16% |
IPO's Strengths
-
Strong dealer and customer relationships.
-
Strategic location of manufacturing facility.
-
Track record of healthy financial performance.
-
Experienced promoter and professional management team.
IPO's Weaknesses
-
Entry barriers and expansion require significant investment in ERW mills, galvanizing plants, and modern equipment.
-
Dependence on steel prices and zinc for galvanizing impacts margins.
-
Manufacturing requires significant power consumption, affecting costs and sustainability targets.
Jindal Supreme (India) IPO GMP Today
Jindal Supreme (India) IPO GMP is Rs. 11 as of September 09, 2026, when this information was written. With the upper price band of Rs. 93, Jindal Supreme (India) IPO's estimated listing price is Rs. 104. The expected listing gain/loss per share is 11.83%.
IPO Other Details
|
IPO Opening & Closing Date |
16 Sep 2026 to 18 Sep 2026 |
|
Face Value |
Rs. 10 per Share |
|
Issue Price |
Rs. 88 to Rs. 93 |
|
Lot Size |
161 Shares |
|
Issue Size |
1,34,28,000 shares (Rs. 125 Cr) |
|
Offer for Sale |
26,86,851 shares (Rs. 25 Cr) |
|
Fresh Issue |
1,07,41,149 shares (Rs. 100 Cr) |
|
Listing At |
BSE, NSE |
|
Issue Type |
Book-built IPO |
|
Registrar |
Bigshare Services Pvt. Ltd. |
IPO Grey Market Premium
The current IPO GMP is available at our live IPO GMP page, where you can get the GMP today for open Mainboard and SME IPOs.
Jindal Supreme (India) IPO Lot Size
The IPO allows retail investors to invest in a minimum and maximum of 1 Lot (161 Shares) amounting to Rs. 14973 and 13 Lots (2093 Shares) for Rs. 1,94,649, respectively, while for HNI investors, the minimum Lot is 14 (2254 Shares) amounting to Rs. 2,09,662.
|
Minimum Lot Investment (Retail) |
1 Lot |
|
Maximum Lot Investment (Retail) |
13 Lots |
|
S-HNI (Minimum) |
14 Lots |
|
S-HNI (Maximum) |
66 Lots |
|
B-HNI (Minimum) |
67 Lots |
Jindal Supreme (India) IPO Reservation
|
Institutional Share Portion |
50% |
|
Retail Investors' Share Portion |
35% |
|
Non-Institutional Shares Portion |
15% |
Promoters and Management of Jindal Supreme (India) Ltd.
-
Abhishek Jindal
-
Sonam Jindal.
|
Pre-Issue Promoter Shareholding |
100% |
|
Post-Issue Promoter Shareholding |
73.68% |
IPO Lead Managers
- Sarthi Capital Advisors Pvt. Ltd.
Dividend Policy
The company has not paid a dividend during the last three FYs.
Jindal Supreme (India) IPO Review: Subscribe or Avoid?
Jindal Supreme is a long-standing manufacturer of MS black pipes, galvanized pipes, crash barriers and GI poles, with recent product diversification and a strong northern India focus. FY26 revenue stood at ₹676 Cr with PAT of ₹22.5 Cr, improved EBITDA, but elevated debt and volatile cash flows remain visible.
Before making any decision to subscribe or avoid, you should consult your SEBI-registered financial advisor.
Jindal Supreme (India) IPO News
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Finowings IPO Analysis
Hope you enjoyed the Finowings IPO Analysis. We tried our best to give every required detail about the company that you should know before applying to the IPO.
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