Jindal Supreme (India) Limited IPO

IPO Details

• Open date: TBA
• Close Date: TBA
• Minimum Investment: To be updated
• Lot Size: TBA
• Price Range: TBA
• Listing: BSE, NSE
• Issue Size: 1,34,28,000 equity shares (aggregating up to ₹[.] Cr)
• Listing Date: TBA

IPO Timeline

• Bidding Start: TBA
• Bidding Ends: TBA
• Allotment Finalisation: TBA
• Refund Initiation: TBA
• Demat Transfer: TBA
• Listing: TBA

About Jindal Supreme (India) Limited

Incorporated in 1974, Jindal Supreme (India) Limited is a manufacturer and supplier of a wide range of steel pipes, tubes, and related products used across infrastructure and industrial applications. The company’s product portfolio includes MS black pipes, galvanized pipes, metal beam crash barriers, and GI tubular poles, catering to sectors such as water supply and plumbing, infrastructure and construction, roads and highways, bridges, oil and gas, chemicals, agriculture, and rural electrification. With a manufacturing facility located at Hisar, Haryana, equipped with advanced machinery including slitting machines, tube mills, and galvanising plants, the company has established a strong presence in the steel products market.

Jindal Supreme (India) Limited IPO Overview

Jindal Supreme (India) Limited’s initial public offering is a book-built issue comprising a fresh issue of up to 1,07,41,149 equity shares and an offer for sale of up to 26,86,851 equity shares, with a total issue size of 1,34,28,000 equity shares. The initial DRHP was filed with SEBI on December 9, 2025, and subsequently withdrawn on March 23, 2026, before being refiled on April 13, 2026. The equity shares are proposed to be listed on BSE and NSE. Sarthi Capital Advisors Private Limited is the book-running lead manager, and Bigshare Services Private Limited is the registrar of the issue. The net proceeds from the fresh issue will be utilized towards repayment or pre-payment of certain outstanding borrowings amounting to ₹7,700.00 lakhs and general corporate purposes. The company’s shareholding pre-issue stands at 4,02,82,620 equity shares, which will increase to 5,10,23,769 equity shares post-issue.

Jindal Supreme (India) Limited Upcoming IPO Details

Category	Details
Issue Type	Book Built Issue IPO
Total Issue Size	1,34,28,000 shares (aggregating up to ₹[.] Cr)
Fresh Issue	1,07,41,149 shares (aggregating up to ₹[.] Cr)
Offer for Sale (OFS)	26,86,851 shares (aggregating up to ₹[.] Cr)
IPO Dates	TBA
Price Bands	TBA
Lot Size	TBA
Face Value	₹10 per share
Listing Exchange	BSE, NSE
Shareholding pre-issue	4,02,82,620 shares
Shareholding post-issue	5,10,23,769 shares

Jindal Supreme (India) Limited IPO Lots

Application	Lots	Shares	Amount
Retail (Min)	TBA	TBA	TBA
Retail (Max)	TBA	TBA	TBA
S-HNI (Min)	TBA	TBA	TBA
S-HNI (Max)	TBA	TBA	TBA
B-HNI (Min)	TBA	TBA	TBA

 

Jindal Supreme (India) Limited IPO Reservation

Investor Category	Shares Offered
QIB Shares Offered	Not more than 50% of the Offer
Retail Shares Offered	Not less than 35% of the Offer
NII (HNI) Shares Offered	Not less than 15% of the Offer

 Jindal Supreme (India) Limited IPO Valuation Overview

KPI	Value
Earnings Per Share (EPS)	₹4.05
Price/Earnings (P/E) Ratio	TBD
Return on Net Worth (RoNW)	19.74%
Net Asset Value (NAV)	₹22.48
Return on Equity (RoE)	18.00%
Return on Capital Employed (RoCE)	14.31%
EBITDA Margin	6.19%
PAT Margin	3.33%
Debt to Equity Ratio	1.02

Objectives of the IPO Proceeds

The Net Proceeds are intended to be utilized as per the details provided in the table below:

Particulars	Amount (in ₹ million)
Repayment/pre-payment, in full or in part, of certain outstanding borrowings availed by the Company	7,70.00
General corporate purposes*	[●]

*To be determined upon finalisation of the Offer Price and updated in the Prospectus prior to filing with the RoC. The amount utilized for general corporate purposes shall not exceed 25% of the Gross Proceeds.

Jindal Supreme (India) Limited Financials (₹ in Millions)

Particulars	December 31, 2025	March 31, 2025	March 31, 2024	March 31, 2023
Total Assets	2,153.48	2,003.32	1,811.58	1,346.25
Revenue from Operations	4,896.51	5,863.99	6,454.40	5,061.20
Profit After Tax	163.01	242.68	128.73	6.35
Reserves and Surplus	502.57	727.19	483.93	393.44
Total Borrowings	921.65	958.40	1,049.18	730.12
Total Liabilities	1,248.08	1,256.95	1,308.47	929.23

Financial Status of Jindal Supreme (India) Limited

SWOT Analysis of Jindal Supreme (India) Limited

Strengths and Opportunities	Weaknesses and Threats
Diversified product portfolio across MS pipes, galvanized pipes, and crash barriers	High dependence on northern Indian states for revenue concentration
Backward integration with in-house manufacturing capabilities	Intense competition from larger steel pipe manufacturers
Growing dealer network from 30 to 53 dealers over three years	Price volatility in steel raw materials affecting margins
Strong presence in infrastructure and construction sectors	Capital-intensive nature of manufacturing operations
Government infrastructure spending driving steel pipe demand	Regulatory and environmental compliance costs
India steel pipes market projected to reach 28.7 million tons by 2034	Availability of cheaper alternative materials like PVC and HDPE
Metal beam crash barrier market to reach INR 76,126 million by 2033	Fluctuations in global steel prices
Expansion of national highways and expressways creating demand	Delayed project execution affecting working capital
Increasing urbanization and construction activities	Inventory overhang of 30-40% in MS ERW segment
Government’s focus on road safety and infrastructure development	Technology obsolescence risks in manufacturing

 

Peer Group Comparison

Name of Company	Face Value (₹)	Sales (₹ in million)	EPS (₹)	P/E Ratio	RoNW (%)
Jindal Supreme (India) Limited	10	60,47.41	6.02	–	38.85
Peer Group
Vibhor Steel Tubes Limited	10	99,82.62	6.21	16.51	6.26
Sambhv Steel Tubes Limited	10	1,51,67.01	2.38	38.24	11.56
Hi-Tech Pipes Limited	1	3,06,95.25	3.98	17.93	5.80

 

Key Strategies for Jindal Supreme (India) Limited

Expansion of Existing Facility Through Internal Accruals

Jindal Supreme (India) Limited is establishing a new Metal Beam Crash Barrier manufacturing unit at its existing plant, which will double the overall production capacity from 24,000 MTPA to 48,000 MTPA upon completion, expected at the start of Fiscal 2027. The company is also establishing a new galvanising unit with installed capacity of 18,000 MTPA, enhancing total galvanising capacity to 63,000 MTPA. These expansions are being funded through internal accruals and are driven by rising demand from national highways and expressway projects.

Adding More Dealers

The company has a continuous focus on strengthening its market reach and penetration by expanding its network of dealers across key regions of India. By adding more distributors and dealers, the company aims to enhance market coverage in untapped geographies including Tier-II and Tier-III cities where demand for construction and infrastructure-related steel products is rising, and build long-term partnerships through credit and discounts, creating a reliable and stable sales channel that contributes to sustained revenue growth.

Capacity Utilization and Operational Efficiency

Jindal Supreme (India) Limited consistently focuses on improving capacity utilization and enhancing operational efficiency at its manufacturing facility. Optimum utilization of capacity ensures better absorption of fixed costs and supports higher profitability and return ratios. With planned capacity expansions across product categories, the company is focused on increasing operations smoothly and using its capacity effectively. The consistent focus on capacity utilisation and operational efficiency will result in improved margins, better cost competitiveness, and the ability to respond quickly to changing market demand.

FAQs

How can I apply for Jindal Supreme (India) Limited IPO?

You can apply via HDFCSky using UPI-based ASBA (Application Supported by Blocked Amount) through your bank account.

What is the total issue size of Jindal Supreme (India) Limited IPO?

The IPO comprises 1,34,28,000 equity shares including a fresh issue of 1,07,41,149 shares and an OFS of 26,86,851 shares.

When was the DRHP refiled with SEBI for Jindal Supreme (India) Limited IPO?

The DRHP was refiled with SEBI on April 13, 2026, after the initial filing on December 9, 2025, was withdrawn on March 23, 2026.

On which exchanges will Jindal Supreme (India) Limited shares be listed?

The equity shares are proposed to be listed on both BSE (Bombay Stock Exchange) and NSE (National Stock Exchange).

What is the face value of Jindal Supreme (India) Limited equity shares?
The face value of each equity share is ₹10 per share.

Infographic Content

Jindal Supreme (India) Limited IPO Highlights

Jindal Supreme (India) Limited is a manufacturer of steel pipes, tubes, and related products including MS black pipes, galvanized pipes, and metal beam crash barriers, serving infrastructure and industrial applications with a manufacturing facility at Hisar, Haryana.

• Offer Size:₹[.] Cr (Fresh Issue of 1,07,41,149 equity shares; OFS of 26,86,851 equity shares; Total 1,34,28,000 equity shares)
• Purpose:The net proceeds will be utilized for repayment/pre-payment of certain outstanding borrowings (₹7,700.00 lakhs) and general corporate purposes.
• Financials (Fiscal Year ended March 31, 2025):Revenue from Operations ₹5,863.99 million; Profit After Tax ₹242.68 million; ₹EPS 6.02
• ☑ Listing:Mainboard IPO on BSE & NSE