Jindal Supreme IPO Day 3: Issue subscribed 65x so far; steps to check allotment status on NSE, BSE

The initial public offering (IPO) of Jindal Supreme India continues to see robust subscription on its third day of bidding. The issue has received 65.05x bookings so far on Friday, September 18.

Until 11:52 AM, the initial share sale of the firm had received bids for 61.14 crore shares as compared to 93,99,600 shares on offer, as per exchange data.

The non-institutional investor (NII) category was subscribed 114.70 times, while the retail individual investor (RII) segment saw 73.58 times subscriptions. However, the Qualified Institutional Buyers (QIB) portion was booked 12.88 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.

Shares of Jindal Supreme India will be listed on both the National Stock Exchange and the Bombay Stock Exchange.

Jindal Supreme India IPO allotment and listing date

Jindal Supreme (India) IPO Objective

The money raised from the IPO will be used towards the following objectives:

Steps to check Jindal Supreme IPO allotment status on NSE

• Visit the NSE IPO allotment status page at https://www.nseindia.com/invest/check-trades-bids-verify-ipo-bids

• Chose ‘Equity & SME IPO bid details’

• Select ‘Jindal Supreme’ from the list of IPO names.

• Enter your application number and PAN details.

• Click ‘Submit’ to view the status of your IPO allotment.

Steps to check Jindal Supreme IPO allotment status BSE

• Visit the BSE IPO allotment status page: https://www.bseindia.com/investors/appli_check.aspx

• Select ‘Jindal Supreme’ as the issue type.

• From the dropdown menu, select ‘Jindal Supreme’. Identify yourself using either PAN details or the IPO application number.

• Click on the ‘I’m not a robot’ tab and press the ‘Search’ button to see the allotment details.

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.