Jindal Supreme (India) Ltd IPO
Steel
Price Band
₹88 – ₹93
Lot Size
161
Minimum Bid Quantity
161
Minimum Investment
₹14973
Issue Size
₹124.88Cr
Opens
2026-09-16
Closes
2026-09-18
Listing
23-09-2026
Subscription Status
Qualified Institutional Buyers
126.41 x
Non-Institutional Investor
327.76 x
Retail Individual Investor
147.76 x
Total
180.23 x
IPO Details
Issue Type
EQUITY
Face Value
₹10
Tick Size
1
ISIN
INE1DLO01028
Pre-Apply Available
No
Daily Bidding Time
10:00:00 - 17:00:00
About the Company
Jindal Supreme (India) Limited is engaged in the manufacture and supply of steel pipes, tubes, and related products for infrastructure and industrial applications. Its product portfolio includes mild steel (MS) black pipes and tubes, galvanised pipes and tubes, metal beam crash barriers, and galvanised iron (GI) tubular poles. These products are used in water supply and plumbing, infrastructure and construction, roads and highways, bridges, oil and gas, chemicals, agriculture, rural electrification, and other applications. The company primarily sells its products directly to institutional buyers, including infrastructure contractors and industrial customers, and also supplies through a network of dealers, mainly in northern states of India. The company commenced operations in 1974 and has expanded its product portfolio over the years. Its manufacturing facility is located in Hisar, Haryana, and is equipped with machinery, mills, welding plants, and galvanising plants, along with an in-house maintenance workshop and testing equipment.
Pros
- • The company’s manufacturing facility is located in Hisar, Haryana, which it states provides logistical and cost advantages due to its proximity to the manufacturing plants of its customers. The location also enables the company to supply customised steel products closer to their end-use locations.
- • The company has increased its sales volume over the period under review. Total sales volume increased from 98,351 MT in FY24 to 101,100 MT in FY26, while EBITDA, excluding other income, increased from Rs 21.11 crore to Rs 41.63 crore during the same period.
- • The company has expanded its product portfolio into metal beam crash barriers and GI tubular poles. It commenced manufacturing W-beam and Thrie-beam crash barriers in FY25 and added GI tubular poles to its product portfolio in FY26, catering to road safety, street lighting, electrification, and public utility applications.
Cons
- • The company’s manufacturing operations are concentrated at a single facility in Hisar, Haryana, making its business dependent on the continuous functioning of this location. Any disruption caused by machinery breakdown, power or utility failure, natural disasters, severe weather, civil unrest, or adverse social, economic, or political developments in the region could result in production delays, higher costs, and loss of revenue. The company also does not have a formal documented disaster recovery or business continuity plan or specific business interruption insurance, which could increase the impact of prolonged disruptions.
- • The company is dependent on a limited group of suppliers for its raw material purchases. Its top 10 suppliers accounted for Rs 474.12 crore (76.23%), Rs 388.98 crore (70.92%), and Rs 456.61 crore (75.73%) of total purchases in FY26, FY25, and FY24, respectively. Any disruption in supplies or inability of these suppliers to meet requirements could result in higher procurement costs, production delays, and pressure on profit margins.
- • A significant portion of the company’s revenue is derived from the sale of black pipes and galvanised pipes. Revenue from black pipes stood at Rs 290.26 crore (42.98%), Rs 271.51 crore (46.30%), and Rs 317.47 crore (49.19%) in FY26, FY25, and FY24, respectively. Revenue from galvanised pipes stood at Rs 179.42 crore (26.57%), Rs 209.63 crore (35.75%), and Rs 288.01 crore (44.62%) during the same periods. Any decline in demand for either product, increased competition, or inability to maintain sales could adversely affect the company’s revenue, profitability, and cash flows.
Get real-time IPO alerts on WhatsApp
Opening reminders • Subscription updates • GMP alerts • Allotment results
Start WhatsApp Alerts