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Jindal Supreme IPO Subscribed 39x by Retail!
18 Sep
Summary
- Retail investors subscribed to 39.74 times the offered shares.
- The IPO's grey market premium indicates strong listing expectations.
- Proceeds will repay borrowings and fund general corporate purposes.
The Jindal Supreme IPO is nearing the close of its bidding period on September 18, 2026, having witnessed substantial investor interest. Overall, the issue has been subscribed 31.50 times against the shares on offer.
Retail individual investors have shown exceptional enthusiasm, with their portion being subscribed an impressive 39.74 times. Non-institutional investors followed suit, subscribing 37.60 times, while qualified institutional buyers subscribed 12.50 times.
The grey market premium (GMP) currently stands at Rs 25 per share, approximately 27% above the upper price band, signaling positive market sentiment for the listing.
Jindal Supreme intends to utilize the Rs 71 crore in net IPO proceeds mainly for the repayment or pre-payment of certain outstanding borrowings. Remaining funds will support general corporate purposes.
The company, a steel products manufacturer with over five decades of experience, produces MS black pipes, galvanized pipes, metal crash barriers, and GI tubular poles. Its manufacturing facility is located in Hisar, Haryana. The IPO is scheduled to finalize allotment on September 21 and list on NSE and BSE on September 23.
Industry analysis suggests a positive outlook for the steel pipes and tubes market in India, with growth driven by infrastructure development and rising steel consumption. Jindal Supreme is considered well-positioned to benefit from these sector trends, especially with its recent expansion into crash barriers and GI tubular poles.
