Jindal Supreme Shares List at 31% Premium at ₹121.90 on BSE

Jindal Supreme (India) shares made a strong stock market debut on September 23, 2026, listing at ₹120 per share on the NSE against the IPO issue price of ₹93 per share.

The NSE listing represented a premium of 29.03% over the issue price. On the BSE, Jindal Supreme (India) shares debuted at ₹121.90 per share, representing a higher listing premium of 31.08%.

The listing followed the company’s ₹124.88 crore mainboard IPO, which was open for subscription from September 16 to September 18, 2026. The issue received an overall subscription of 181.07 times by the end of the bidding period.

The IPO comprised a fresh issue of up to ₹99.89 crore and an offer for sale (OFS) of up to ₹24.99 crore.

Jindal Supreme (India) IPO Listing Details

Jindal Supreme (India) launched its ₹124.88 crore IPO through a combination of a fresh issue and an offer for sale.

The bidding window opened on September 16 and closed on September 18, 2026. The IPO price band was fixed at ₹88 to ₹93 per share, with the issue price set at the upper end of the band at ₹93 per share.

The IPO received an overall subscription of 181.07 times by the end of the bidding period.

Jindal Supreme (India) subsequently made its stock market debut on September 23, 2026, with its shares listing at ₹120 per share on the NSE.

Compared with the IPO issue price of ₹93, the NSE listing price represented a premium of 29.03%.

On the BSE, the shares opened at ₹121.90 per share, translating into a listing premium of 31.08% over the issue price.

• Issue Price: ₹93 per share
• NSE Listing Price: ₹120 per share
• NSE Listing Premium: 29.03%
• BSE Listing Price: ₹121.90 per share
• BSE Listing Premium: 31.08%
• Price Band: ₹88 to ₹93 per share
• IPO Size: Up to ₹124.88 crore
• Fresh Issue: Up to ₹99.89 crore
• Offer for Sale: Up to ₹24.99 crore
• Overall Subscription: 181.07 times
• Lot Size: 161 shares
• Minimum Investment at Upper Price: ₹14,973
• Face Value: ₹10 per equity share
• IPO Open Date: September 16, 2026
• IPO Close Date: September 18, 2026
• Listing Date: September 23, 2026
• Exchanges: BSE and NSE

First-Day Trading Performance

Listing Price: Jindal Supreme (India) share price debuted at ₹120 per share on the NSE on September 23, 2026, compared with the IPO issue price of ₹93.

The NSE debut represented a gain of ₹27 per share over the issue price, translating into a listing premium of 29.03%.

On the BSE, Jindal Supreme (India) shares listed at ₹121.90 per share. This was ₹28.90 above the ₹93 issue price, representing a listing premium of 31.08%.

The market debut followed Jindal Supreme (India)’s ₹124.88 crore IPO, which received an overall subscription of 181.07 times during the bidding period from September 16 to September 18, 2026.

The listing performance meant that Jindal Supreme (India) entered the secondary market substantially above the price at which shares were allotted to IPO investors.

Growth Drivers and Challenges

Growth Drivers

Strong IPO Subscription: Jindal Supreme (India)’s IPO received an overall subscription of 181.07 times, reflecting demand significantly above the shares available in the public issue.

Fresh Issue Proceeds: Of the ₹124.88 crore IPO, up to ₹99.89 crore was raised through the fresh issue component, providing capital directly to the company.

Debt Repayment: The company intends to use part of the fresh issue proceeds towards repayment or pre-payment of certain outstanding borrowings.

Diversified Product Portfolio: Jindal Supreme (India) manufactures MS black pipes, galvanised pipes, metal beam crash barriers and GI tubular poles for a range of industrial and infrastructure applications.

Infrastructure Exposure: The company serves sectors including water supply, roads and highways, oil and gas, agriculture and rural electrification.

Product Expansion: The company entered the metal beam crash barrier segment in FY2025 and expanded into GI tubular poles in FY2026.

Challenges

Post-Listing Price Movement: Following the strong listing premium, Jindal Supreme (India)’s share price will be influenced by secondary-market demand and broader market conditions.

Offer for Sale Component: Up to ₹24.99 crore of the IPO consisted of an offer for sale, meaning this portion of the proceeds goes to the selling shareholders rather than the company.

Institutional Customer Exposure: The company primarily serves institutional customers, infrastructure contractors, industrial clients and steel product dealers, making demand from these customer segments relevant to its operations.

Infrastructure Demand: Demand for several of the company’s products is linked to activity across infrastructure-focused sectors such as roads, water supply and rural electrification.

Post-IPO Performance: Following the completion of the IPO, the company’s share price will be influenced by liquidity, investor demand and its operating and financial performance.

IPO Subscription and Investor Allocation

Jindal Supreme (India)’s ₹124.88 crore IPO received an overall subscription of 181.07 times during the bidding period.

The IPO opened for subscription on September 16 and closed on September 18, 2026.

The overall subscription preceded the company’s September 23 stock market debut, when shares listed substantially above the ₹93 issue price on both exchanges.

The key IPO details included:

• Overall Subscription: 181.07 times
• IPO Size: Up to ₹124.88 crore
• Fresh Issue: Up to ₹99.89 crore
• Offer for Sale: Up to ₹24.99 crore
• Issue Price: ₹93 per share
• Price Band: ₹88 to ₹93 per share
• Lot Size: 161 shares

Minimum Investment and Lot Size

Jindal Supreme (India) had set its IPO lot size at 161 shares.

At the upper-end issue price of ₹93 per share, an application for one lot of 161 shares amounted to ₹14,973.

The IPO price band was fixed at ₹88 to ₹93 per share, with the issue price set at the upper end of the range.

The key application details included:

• Final Issue Price: ₹93 per share
• Lot Size: 161 shares
• Minimum Investment: ₹14,973
• Price Band: ₹88 to ₹93 per share
• Face Value: ₹10 per equity share

Business and IPO Overview

Founded in 1974, Jindal Supreme (India) Limited manufactures steel pipes, tubes and infrastructure products for industrial and construction applications.

Its product portfolio includes MS black pipes, galvanised pipes, metal beam crash barriers and GI tubular poles.

The company serves sectors including water supply, roads and highways, oil and gas, agriculture and rural electrification. Its customers primarily include institutional buyers, infrastructure contractors, industrial clients and steel product dealers served through a direct sales network.

Jindal Supreme (India) expanded its infrastructure product portfolio by entering the metal beam crash barrier segment in FY2025 and the GI tubular pole segment in FY2026.

The company entered the public markets through a ₹124.88 crore IPO comprising a fresh issue of up to ₹99.89 crore and an offer for sale of up to ₹24.99 crore.

The IPO was open for bidding from September 16 to September 18, 2026, with a price band of ₹88 to ₹93 per share. The issue price was set at ₹93 per share.

The company intends to utilise the net proceeds from the fresh issue towards repayment or pre-payment, in full or in part, of certain outstanding borrowings and general corporate purposes.

The IPO received an overall subscription of 181.07 times.

Jindal Supreme (India) made its stock market debut on September 23, 2026, listing at ₹120 per share on the NSE and ₹121.90 per share on the BSE.

Compared with the ₹93 issue price, the shares debuted at premiums of 29.03% on the NSE and 31.08% on the BSE.