Jindal Supreme (India) Ltd is set to open its ₹125 crore initial public offering on September 16, giving investors an opportunity to participate in the steel products manufacturer's public market debut. The company has fixed the price band at ₹88 to ₹93 per equity share, with the issue scheduled to close on September 18.
The IPO is a mainboard issue and is expected to list on both the BSE and NSE on September 23. For retail investors, the minimum application will require one lot of 161 shares, translating to an investment of ₹14,973 at the upper end of the price band.
The key dates investors need to watch
The three-day subscription window will begin on Wednesday, September 16, and end on Friday, September 18. The basis of allotment is scheduled for September 21.
Successful applicants are expected to receive shares in their demat accounts on September 22, while refunds for unsuccessful applications are also scheduled to begin the same day. Trading in the company's shares is expected to start on September 23, subject to the completion of the listing process.
| IPO Event | Date |
|---|---|
| IPO Opens | September 16, 2026 |
| IPO Closes | September 18, 2026 |
| Basis of Allotment | September 21, 2026 |
| Refund Initiation | September 22, 2026 |
| Credit of Shares | September 22, 2026 |
| Expected Listing | September 23, 2026 |
The timeline means investors will have a relatively short period between the closing of the issue and the expected stock market debut.
Price band fixed at ₹88–₹93 per share
Jindal Supreme has set a price band of ₹88 to ₹93 for its IPO. The issue carries a face value of ₹10 per equity share.
Investors will need to bid for a minimum of 161 shares and can apply in multiples of that lot size. At the upper price band of ₹93, one lot costs ₹14,973.
The offer is structured as a book-built issue, allowing investors to place bids within the announced price range. The final allocation and issue price will be determined through the book-building process.
A mix of fresh shares and offer for sale
The public issue is expected to raise approximately ₹124.88 crore, commonly rounded to ₹125 crore.
According to available IPO details, the offer includes both a fresh issue of shares and an offer for sale. The fresh issue comprises up to 1.07 crore shares aggregating to about ₹100 crore, while the offer for sale consists of up to 26.87 lakh shares worth around ₹25 crore.
The distinction is important for investors.
Money raised through the fresh issue goes to the company and can be used for its stated corporate purposes. Proceeds from the offer for sale, on the other hand, go to the selling shareholder rather than directly to Jindal Supreme.
The company's disclosed objectives include repayment or prepayment of certain borrowings and general corporate purposes.
What does Jindal Supreme do?
Jindal Supreme (India) operates in the steel products and infrastructure supply segment. The company manufactures and supplies products used across industrial and infrastructure applications.
Its portfolio includes:
- Mild steel black pipes
- Steel tubes
- Galvanized pipes
- Metal beam crash barriers
- Galvanized iron tubular poles
The company operates an integrated manufacturing facility in Hisar, Haryana. Its business places it within India's broader infrastructure and industrial supply chain, where demand can be influenced by construction activity, government infrastructure spending and industrial investment.
What the IPO means for retail investors
For retail investors, the first number to consider is the minimum investment requirement.
At the upper price band, one application lot requires ₹14,973. Investors can apply for additional lots in multiples of 161 shares, subject to applicable IPO rules and category limits.
The maximum retail application details available for the issue indicate that investors should remain within the prescribed ₹2 lakh retail application limit. Investors applying above the retail limit may fall into a different investor category.
| IPO Detail | Information |
|---|---|
| Price Band | ₹88–₹93 |
| Face Value | ₹10 |
| Lot Size | 161 Shares |
| Minimum Investment | ₹14,973 |
| Issue Size | About ₹125 Crore |
| IPO Type | Mainboard Book-Built Issue |
| Expected Listing | BSE and NSE |
Steel sector exposure brings its own risks
Jindal Supreme's IPO arrives at a time when investors are closely watching companies linked to India's manufacturing and infrastructure sectors.
Steel-related businesses can benefit from strong infrastructure activity, but they are also exposed to changes in raw material costs, competition and broader economic conditions. Demand for pipes, tubes and other industrial products can fluctuate depending on construction activity and capital spending.
For IPO investors, understanding the company's business model is as important as following the issue dates.
Investors may want to examine the company's financial performance, debt position, revenue growth, profitability, customer concentration and risk factors before making an investment decision. The red herring prospectus remains one of the most important documents for evaluating these factors. SEBI published the company's IPO filing on September 8.
A busy week ahead for IPO investors
Jindal Supreme's September 16 opening places the issue in an active period for India's primary market.
The IPO will give investors exposure to a company operating in the steel products and infrastructure supply space, with the issue structured to raise funds for debt-related purposes and general corporate requirements while also including an offer-for-sale component.
Subscription figures will become available once bidding opens. Until then, investors have time to review the prospectus and compare the company's financial and operational profile with other businesses in the sector.
The ₹88–₹93 price band, ₹14,973 minimum investment and September 23 expected listing date will be the key numbers to watch as Jindal Supreme prepares for its market debut.
FAQs
When will the Jindal Supreme IPO open?
The IPO is scheduled to open for subscription on September 16, 2026.
What is the closing date for the Jindal Supreme IPO?
The issue is scheduled to close on September 18, 2026.
What is the Jindal Supreme IPO price band?
The price band has been fixed at ₹88 to ₹93 per equity share.
What is the minimum investment required?
Retail investors need to apply for at least one lot of 161 shares, requiring ₹14,973 at the upper price band.
What is the total issue size?
The IPO is valued at approximately ₹124.88 crore, generally rounded to ₹125 crore.
Is Jindal Supreme a mainboard IPO?
Yes. Jindal Supreme is listed as a mainboard IPO and its shares are expected to list on both BSE and NSE.
When will Jindal Supreme shares be allotted?
The basis of allotment is scheduled for September 21, 2026.
When is the Jindal Supreme IPO expected to list?
The company's shares are expected to list on the BSE and NSE on September 23, 2026.
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