Jindal Supreme shares list at 31% premium over IPO price on BSE

Jindal Supreme shares made a strong start on Wednesday, listing at a premium of up to 31% on the bourses. The stock opened at Rs 121.90 apiece on the BSE, up 31.08% over the issue price of Rs 93.

On the NSE, the stock opened at Rs 120, marking a premium of 29.03% over the offer price.

The listing matched unlisted market expectations, which had suggested a similar debut gain for the stock. Ahead of the debut, shares of the company were commanding a grey market premium (GMP) of around 31%, signalling expectations of a listing above the issue price.


The Rs 124.88 crore Jindal Supreme IPO comprised a fresh issue of 1.07 crore shares aggregating to Rs 99.89 crore and an offer for sale (OFS) of 26.87 lakh shares worth Rs 24.99 crore. The company had fixed the IPO price band at Rs 88–93 per share.

The IPO opened for subscription on September 16, 2026, and closed on September 18, 2026. The issue received an overwhelming overall subscription of 181.07 times. The retail investor portion was subscribed 149.34 times, while the non-institutional investor (NII) category witnessed 327.99 times subscription. The qualified institutional buyer (QIB) portion was subscribed 126.41 times.

Read more: NSE IPO Tracker: Catch all the highlights here

Sarthi Capital Advisors Pvt. Ltd. is the book-running lead manager for the issue, while Bigshare Services Pvt. Ltd. is acting as the registrar.

Jindal Supreme 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.

Financial Perfomance

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.

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About Jindal Supreme (India) Ltd.

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.

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