Jindal Supreme India files DRHP with SEBI to raise funds via IPO

Jindal Supreme India IPO: Steel pipes manufacturer Jindal Supreme India has filed a draft red herring prospectus (DRHP) with capital markets regulator Securities and Exchange Board of India (SEBI) to raise funds via an initial public offering (IPO).

The proposed initial share sale will be a mix of a fresh issuance of 1,07,41,149 shares and an offer for sale (OFS) component of 26,86,851 shares by promoter VVJ Enterprise Private Limited.

The net proceeds from the fresh issue will be utilised for repayment of certain outstanding borrowings and general corporate purposes.

"Our company expects that the listing of the equity shares will enhance our visibility and our brand image among our existing and potential customers and provide a market for our equity shares to the existing public shareholders of our company," the firm said in its DRHP.

Sarthi Capital Advisors is the issue's sole book-running lead manager, while Bigshare Services is the registrar.

The company's shares will be listed on the NSE and the BSE.

Half of the net offer will be set aside for qualified institutional buyers (QIBs), 35% for retail individual investors and 15% for non-institutional investors (NIIs).

About Jindal Supreme

Jindal Supreme (India) Ltd manufactures and supplies an array of steel pipes and tubes, catering to the needs of multiple infrastructure and industrial applications.

Its product portfolio includes mild steel black pipes, galvanised pipes, tubes, metal beam crash barriers, and galvanised iron tubular poles. These products are manufactured in various dimensions to meet customer needs. Each of its products is made as per the Indian Standards, ensuring durability, consistent quality and compliance with both domestic and international benchmarks.

These products are used in various industry segments like infrastructure & construction, road & highways, water supply and plumbing, bridges, chemicals, agriculture, oil & gas, rural electrification and others. Its manufacturing unit is located in Hisar, Haryana.