Jindal Supreme Shares List At ₹120, Gain 29% Over ₹93 IPO Price

Mumbai, September 23: Jindal Supreme (India) shares made a strong debut on the NSE and BSE on Wednesday, listing at ₹120 per share against the IPO price of ₹93. The listing price represented a ₹27 premium, or 29.03%, over the issue price.

The debut came after Jindal Supreme’s ₹124.88 crore IPO, which comprised a fresh issue of 1.07 crore shares worth ₹99.89 crore and an offer for sale of 26.87 lakh shares worth ₹24.99 crore. The issue was subscribed 177.03 times overall.

Jindal Supreme Shares List At ₹120 Against ₹93 Issue Price

Jindal Supreme shares opened at ₹120 on the NSE and BSE, compared with the final IPO price of ₹93 per share.

The stock therefore started trading ₹27 above the issue price, translating into a 29.03% listing gain for investors allotted shares in the IPO.

The company had fixed the IPO price band at ₹88–93 per share and finalised the issue price at the upper end of the band.

Shares Rise To ₹126 By 10:32 AM

After listing at ₹120, Jindal Supreme shares moved higher during the morning session. At 10:32 AM IST on September 23, the stock was trading at ₹126.

At this level, the shares were ₹6, or 5%, above the listing price. Compared with the IPO price of ₹93, the stock was trading ₹33, or 35.48%, higher.

The stock had touched a high of ₹126 and a low of ₹120 in the market snapshot, with the volume-weighted average price at ₹121.14.

₹124.88 Crore IPO Included Fresh Issue And OFS

Jindal Supreme raised ₹124.88 crore through a combination of fresh issue and offer for sale.

The fresh issue comprised 1.07 crore shares aggregating ₹99.89 crore, while existing shareholders offered 26.87 lakh shares worth ₹24.99 crore through the OFS component.

The total issue comprised 1.34 crore shares.

IPO Received 177.03 Times Subscription

The Jindal Supreme IPO received overall subscription of 177.03 times, with bids for 1,66,39,99,400 shares against 93,99,600 shares offered, as per the final subscription data.

The QIB portion, excluding the anchor allocation, was subscribed 126.41 times. The NII category received 326.84 times subscription, while the retail portion was subscribed 141.75 times.

The issue received 37,51,547 applications by the close of bidding on September 18.

NII Category Saw 326.84 Times Subscription

The NII segment recorded the highest subscription among the major investor categories, receiving bids for 65,83,20,467 shares against 20,14,200 shares offered.

Within the NII category, applications above ₹10 lakh were subscribed 304.18 times, while the portion below ₹10 lakh received 372.15 times subscription.

Retail investors bid for 66,61,90,308 shares against 46,99,800 shares offered, resulting in subscription of 141.75 times.

Minimum Retail Application Was ₹14,973

The minimum retail application was fixed at 161 shares. At the issue price of ₹93 per share, the minimum application amount was ₹14,973.

The IPO also included an anchor allocation of 40,28,400 shares, which was excluded while calculating the public subscription figures.

Jindal Supreme Debut Follows Strong IPO Subscription

Jindal Supreme shares began trading at ₹120 on September 23, marking a ₹27 premium over the ₹93 issue price. The stock subsequently moved to ₹126 by 10:32 AM IST.

The listing followed a three-day IPO that attracted 177.03 times overall subscription, with particularly high demand recorded across the NII, QIB and retail categories.

Source:

• https://www.nseindia.com/get-quote/equity/JSIPL/Jindal-Supreme-(India)-Limited