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Jindal Supreme (India) Ltd IPO

Tech-led NBFC delivering AI/ML driven retail credit across Tier-2 & Tier-3 India.

Listed
Price Band ₹93 per share per share
Lot Size 161 Shares
Min. Investment ₹14973
Issue Size ₹124.88 Cr
Face Value ₹10
IPO Open 16 September 2026
IPO Close 18 September 2026
Allotment 21 Sep 2026
Listing 23 Sep 2026
Live demand

Subscription status for Jindal Supreme (India) Ltd IPO

As of 28 Sep 26, 6:25 PM. Will get Updated in every 30 minutes

QIB -

Qualified Institutional Buyers

NII -

Non-Institutional Investors

Retail -

Retail Individual Investors

Total -

Across all investor categories

Key dates

IPO schedule for Jindal Supreme (India) Ltd

From the day bidding opens to listing — every milestone you need to track.

IPO Open 16 Sep 2026
IPO Close 18 Sep 2026
Allotment 21 Sep 2026
Refund / Unblock 22 Sep 2026
Listing 23 Sep 2026
About the company

Who is Jindal Supreme (India) Ltd ?

Jindal Supreme (India) Limited was originally incorporated as 'Janak Steel Tubes Private Limited' at Haryana on March 05, 1974 with the Registrar of Companies, Delhi & Haryana. Subsequently, the name of the company was changed to Janak Steel Tubes Limited on November 22, 2001. Company was converted into Private Company and the name was changed to Janak Steel Tubes Private Limited on June 08, 2016. Subsequently, the name of the Company was changed from Janak Steel Tubes Private Limited to Jindal Supreme (India) Private Limited dated August 10, 2017 at RoC, Delhi. Subsequently, Company was converted into a Public Limited Company and the name was changed to Jindal Supreme (India) Limited and a fresh certificate of Incorporation has been issued by Registrar of Companies, Delhi on September 17, 2025.

Established in 1974 by Late Madan Lal Jindal, the Company's legacy was strengthened by Sh. Janak Raj Jindal and is now led by Abhishek Jindal, who brings over 18 years of industry experience in the MS Black and Galvanized Pipes/Tubes manufacturing industry and has played a key role in developing the product portfolio and diversification. Over the years, Company has expanded the product line to tap into emerging infrastructure development projects.

Presently, Company manufactures and supplies a wide range of steel pipes and tubes for infrastructure and industrial applications including, MS black pipes, tubes, galvanized pipes, metal beam crash barriers, and GI tubular poles, produced in sizes from 0.5 inch to 10 inch as per Indian Standards to ensure quality and durability. These products serve sectors such as water supply and plumbing, infrastructure & construction, roads & highways, bridges, oil and gas, chemicals, agriculture, rural electrification and others.

Company operate a manufacturing facility from Hisar, Haryana. In FY 2025, Company has commenced the manufacturing of metal beam crash barriers with W-beam and Thrie-beam crash barriers, which are primarily utilized for road safety and highway infrastructure projects. Following this, it diversified into the production of GI tubular poles, used for street lighting, electrification projects, and other public utility infrastructure.

Company has filed a Draft Red Herring Prospectus with SEBI & is planning to issue an aggregate of 1,34,28,000 equity shares of face value of Rs 10 each by way of its initial public offer, comprising a fresh issue of 1,07,41,149 equity shares and the offer for sale of 26,86,851 equity shares.

Financial track record

Financials at a glance

Three-year trajectory of revenue, profit and assets — restated as per the RHP.

Revenue PAT Total Assets
FY 2026
FY 2025
FY 2024
Metric (₹ Cr)FY 2026FY 2025FY 2024
Total Income675.94604.74650.88
EBITDA42.1844.2626.55
PAT22.5324.2712.87
AUM248.41200.33181.16

Strengths & Risks

A balanced look at what works in the company's favour and what investors should watch.

Strengths

  • Founder led Company supported by experienced and professional leadership team i.e Abhishek Jindal, Promoter and Managing Director.
  • Selling and Distribution network of having dealers 53, 53, 49 and 34 dealers for the period ended June 30, 2026, Fiscal 2026, Fiscal 2025 and Fiscal 2024 respectively.
  • Experienced Promoter and Management Team with an Employee Base of 242 employees as on June 30, 2026.

Risks

  • Operations at the company's Manufacturing Facility are concentrated at a single location in Hisar, Haryana, and its business is dependent on this facility; any disruption, breakdown, shutdown or adverse local or regional developments could materially and adversely affect the company's business, financial condition, results of operations and cash flows.
  • The Company requires significant amount of working capital for a continuing growth. Its inability to meet the company's working capital requirements may adversely affect its results of operations.
  • The company's top 10 suppliers contribute 72.31%, 76.23%, 70.92% and 75.73%, of its purchase during the period ended June 30, 2026 and for Fiscal 2026, Fiscal 2025 and Fiscal 2024. Any delay in or shortage from one or more of them may adversely affect the company operations.
  • The company's production costs are vulnerable to fluctuations in the prices of raw materials, especially Mild Steel Coils, MS Hot-Rolled Coil, and Galvanizing Materials. Price volatility in these key raw materials can significantly affect its production expenses and overall financial results.
  • The company's revenue from operations depends on sale of Black Pipes and Galvanized Pipes. Any changes in the demand or a decline in the demand of the said product, or delays in the placement of orders, may affect its ability to grow or maintain the company's sales, earnings, and cash flow.
  • The company derives a significant portion of its revenue from operations from the company's key customers and its top 10 customers contributed to 24.09%, 20.32%, 15.96% and 15.90%, of the company's revenue from operations during period ended June 30, 2026 and in Fiscal 2026, Fiscal 2025 and Fiscal 2024, respectively. Any decrease in revenue from operations from any of its key customers or any loss of these customers may adversely affect the company's business, financial condition, cash flows and results of operations.
  • In the past the Company had negative cash flows from its operating activities, investing activities as well as financing activities, further, the company may experience negative cash flows in the future.
  • The company has had instance of delays in payments of statutory dues by the Company. Any delays in payment of statutory dues may attract financial penalties from the respective government authorities and in turn may have an adverse impact on its business, financial condition, results of operations and cash flows.
  • The company derived 24.19 % of its revenue for the period June 30, 2026 and 28.55%, 30.60% and 29.44% of the company's revenue from operation from Haryana for the Fiscal 2026, Fiscal 2025 and Fiscal 2024 respectively. Any adverse developments, social and political developments and natural disaster affecting its operations in these regions could have an adverse impact on the company's revenue and results of operations.
  • The company's Promoters have not created any pledge or encumbrance over their equity shareholding in the Company, however, any future pledge or encumbrance may adversely affect control, investor confidence and the market price of its Equity Shares.

Jindal Supreme (India) Ltd IPO — frequently asked questions

The Jindal Supreme (India) Ltd IPO opens on 16 September 2026 and closes on 18 September 2026. Bidding is accepted from 10:00 AM on the open date until 5:00 PM on the close date. The IPO is available to all eligible investors including retail individual investors, non-institutional investors, and qualified institutional buyers.
The price band for Jindal Supreme (India) Ltd IPO is Rs 93 to Rs 93 per share. The lot size is 161 shares per lot, requiring a minimum investment of Rs 14973 at the upper price band. Investors must apply for a minimum of one lot and can apply for up to 161 lots as per SEBI guidelines.
You can apply for the Jindal Supreme (India) Ltd IPO through the Chola Securities app or web platform using UPI or ASBA. Log in to your account, navigate to the IPO section, select Jindal Supreme (India) Ltd from the open IPOs list, enter your bid quantity and price within the price band, and submit your application. You need an active demat account, a linked bank account, and a valid PAN to apply. Bidding closes on 18 September 2026 at 5:00 PM.
Allotment for Jindal Supreme (India) Ltd IPO is scheduled on 21 Sep 2026. Refunds or unblocking of funds for unsuccessful applicants will be processed on 22 Sep 2026. The shares are expected to list on 23 Sep 2026. You can check your allotment status on the Chola Securities IPO page or through the registrar's website using your PAN.
Chola Securities' research team has reviewed the Jindal Supreme (India) Ltd IPO based on the company's financials, business model, valuation, and sector outlook. The recommendation is available on this page. Investors are advised to read the full IPO note along with the company's Red Herring Prospectus before making an investment decision.
Yes, you can revise or withdraw your Jindal Supreme (India) Ltd IPO bid before the subscription window closes on 18 September 2026 at 5:00 PM. Revisions can include changing the quantity or price within the allowed price band. To withdraw, cancel your application through the platform before the closing time. Once the subscription period ends, no further changes are permitted.
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