Jindal Supreme (India) jumps on debut
The stock debuted at Rs 121.90 on the BSE, a premium of 31.08% over its issue price.
So far, the stock has hit a high of Rs 127.99 and a low of Rs 120. On the BSE, over 10.55 lakh shares of the company were traded in the counter so far.
The initial public offer of Jindal Supreme (India) was subscribed 181.07 times. The issue opened for bidding on 16 September 2026 and closed on 18 September 2026. The price band of the IPO is fixed between Rs 88 and 93 per share.
The offer comprised a fresh issue of 1,07,41,149 equity shares of Rs 10 each and an offer for sale of 26,86,851 equity shares by VVJ Enterprises, a promoter group company.
Of the net proceeds from the fresh issue, the company intends to use Rs 71 crore towards prepayment or repayment, in full or in part, of certain outstanding borrowings availed by the company and balance towards general corporate purposes.
Ahead of the IPO, Jindal Supreme on Tuesday, 15 September 2026, raised Rs 37.46 crore from anchor investors. The board allotted 40.28 lakh shares at Rs 93 each to 5 anchor investors.
Jindal Supreme (India), founded by Late Madan Lal Jindal in 1974, is engaged in the manufacturing and supply of a different range of steel pipes and tubes catering to the requirements of multiple infrastructure and industrial applications.
The product portfolio of the company includes mild steel (MS) black pipes, tubes, galvanized pipes, metal beam crash barriers, and galvanized iron (GI) tubular poles of various dimensions. Products find application in various industry segments like water supply and plumbing, infrastructure & construction, roads & highways, bridges, oil & gas, chemicals, agriculture, rural electrification and others.
The business model of the company 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% [42.94% from fromMS black pipes/tubes, 26.54% from MS galvanized pipes, 17.41% from metal beam crash barriers, and 4.66% from GI tubular poles] and the balance 8.36% from other operating income, including sales of scrap and strip and zinc dross.
The firm reported a consolidated net profit of Rs 8.28 crore and sales of Rs 190.94 crore for the twelve months ended on 31 March 2026.
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