Jindal Supreme shares list at 29% premium on NSE; here's how much investors made per lot

The stock is listed at ₹120 per share on the National Stock Exchange (NSE), reflecting a premium of 29.03% over the IPO issue price of ₹93 apiece.

On the BSE, it started trading at ₹121.90, up 31.08% from the issue price.

Jindal Supreme share price: Here's how much investors made per lot

The ₹124.88 crore initial public offering was a mix of a fresh issue of 1.07 crore shares worth ₹99.89 crore and an offer-for-sale (OFS) component of 26.87 lakh shares aggregating to ₹24.99 crore by promoter group entity VVJ Enterprise Pvt Ltd.

The funds raised will be used for debt clearance 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 red herring prospectus.

The IPO was subscribed 181.07 times, as it got bids for 1,70,19,83,003 shares against 93,99,600 shares on offer, as per the data on the NSE website.

The category for non-institutional investors (NIIs) was subscribed a whopping 327.99 times. The quota for retail investors fetched 149.34 times subscription, while the part for qualified institutional buyers (QIBs) was booked 126.41 times subscription.

Jindal Supreme (India) Limited manufactures steel pipes, tubes and other steel products. It serves infrastructure and industrial applications. Its products include galvanised pipes, mild steel black pipes and tubes, metal beam crash barriers and galvanised iron tubular poles. These products are used across roads and highways, bridges, water supply and plumbing, infrastructure and construction, oil and gas, chemicals, agriculture and rural electrification, among other applications.