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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 Jindal Supreme shares are scheduled to debut on both the BSE and NSE on September 23, 2026. Investors will be closely watching the stock’s opening performance, with the prevailing GMP pointing to strong pre-listing demand. 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 GMP Today The Jindal Supreme IPO GMP (Grey Market Premium) currently stands at Rs 29 per share, or around 31%, based on the upper end of the IPO price band of Rs 93 per share. At the prevailing GMP, the estimated listing price of Jindal Supreme shares works out to approximately Rs 122 per share. The Grey Market Premium (GMP) is an unofficial market indicator and is neither regulated nor guaranteed. GMP levels can fluctuate significantly before listing, and the actual listing price may differ from the estimated price based on grey market trends. Read more: 5 SME IPOs to open today: Check issue size, price band and key detail 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. 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. Disclaimer: The views/recommendations mentioned in this article, wherever applicable, are those of the respective SEBI-registered Research Analyst/brokerage and have been reproduced/reported with due attribution. They should not be construed as the views or recommendations of The Economic Times Digital or the journalist. Readers are advised to consider the original research report and make their investment decisions based on their own assessment. Brokerage disclaimers here (What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price (What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price
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