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Jindal Supreme IPO Day 2: Issue subscribed over 17x, retail investors lead; check all key details
3 min read | Updated on September 17, 2026, 13:09 IST
SUMMARY
Until 1:08 PM, the initial share sale of the firm had received bids for 16.62 crore shares as compared to 93,99,600 shares on offer, as per exchange data.
Jindal Supreme is involved in the manufacturing and supply of various steel pipes, tubes and catering to the requirements of multiple infrastructure and industrial applications. | Image: jindalsupreme.com
The initial public offering (IPO) of Jindal Supreme India continues to see strong demand on its second day of subscription, with a total booking of 17.69 times so far on Thursday, September 17.
Until 1:08 PM, the initial share sale of the firm had received bids for 16.62 crore shares as compared to 93,99,600 shares on offer, as per exchange data.
The non-institutional investor (NII) category was subscribed 18.72 times, while the retail individual investor (RII) segment saw 26.24 times subscriptions. However, the Qualified Institutional Buyers (QIB) portion was booked 1.93 times.
The ₹125 crore IPO includes an offer for sale and a fresh issue. It is a book-building issue, comprising an offer for sale of ₹25 crore and a fresh issue of ₹100 crore. The minimum lot size for an application is 161 shares.
Sarthi Capital Advisors is the book-running lead manager for the issue, while Bigshare Services is acting as the registrar.
The steel pipes and tubes maker garnered ₹37.46 crore by issuing 40.28 lakh shares through its anchor investors. The three investors that participated in the anchor book with Craft Emerging Market Fund PCC emerged as the largest buyer, along with Craft Emerging Market Fund PCC, Minerva Emerging Opportunities Fund and Ekamya Pragati Scheme.
“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 red herring prospectus (RHP).
Jindal Supreme India IPO allotment and listing date
| Event | Date |
|---|---|
| Subscription dates | September 16 to September 18 |
| Allotment finalisation | September 21 |
| Refund initiation | September 22 |
| Credit of shares to Demat | September 22 |
| Listing date on NSE and BSE | September 23 |
Jindal Supreme (India) IPO Objective
The money raised from the IPO will be used towards the following objectives:
About Jindal Supreme India
Jindal Supreme (India) manufactures steel pipes and tubes for infrastructure and industrial applications. The business commenced operations in 1974 and now supplies mild steel (MS) black pipes and tubes, galvanised pipes, metal beam crash barriers and galvanised iron (GI) tubular poles.
Its products serve water supply, construction, roads, agriculture and electrification. Promoter Abhishek Jindal has been associated with the company since 2007 and has over 18 years of industry experience.
Jindal's manufacturing is concentrated at Hisar, Haryana, with pipe mills, welding and galvanising equipment, an in-house maintenance workshop and testing facilities.
Shares of Jindal Supreme India will be listed on both the National Stock Exchange and the Bombay Stock Exchange.
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