Jindal Supreme (India)
Steel pipes and tubes maker — MS black and galvanized pipes, metal beam crash barriers and GI tubular poles — for water supply, infrastructure, highways and rural electrification.
Last updated 1 Oct 2026, 12:06 am IST
- Price band
- ₹88 – ₹93
- Lot size
- 161
- Issue size
- ₹124.88 Cr (₹99.89 Cr fresh + ₹24.99 Cr OFS)
- Opens
- 16 Sept 2026
- Closes
- 18 Sept 2026
- Exchange
- Both
The numbers
- GMP
- ₹31 (~33.3%) (18 Sep, 9:37 AM; was ₹30 on 17 Sep)
- Subscription
- 31.54× (final day, 9:37 AM)
- Listing gain
- NSE +29.0% / BSE +31.1% (23 Sep)
- Listing date
- 23 Sept 2026
- Model prediction
- ~+39% expected → Strong Subscribe. Listed +29.0% NSE / +31.1% BSE (23 Sep), closed day 1 at +35.5%/+37.6%; call held and then some.
The Ticker Tales take
Jindal Supreme (India) has been making steel pipes and tubes since 1974 — MS black and galvanized pipes, metal beam crash barriers and GI tubular poles that go into water supply and plumbing, construction, roads and highways, bridges, oil and gas, agriculture and rural electrification. Most of the ₹124.88 crore issue is fresh money (₹99.89 crore) going into the company, with about ₹25 crore going to existing owners — the healthier shape for a first-time applicant. It is a commodity-steel business, though, so margins move with steel prices rather than with anything the company controls. Demand had been heavy and kept building, closing 31.54 times covered, with retail at 33.86 times, big-ticket investors at 27.35 times and institutions at 12.45 times, while the grey market premium climbed to ₹31, about 33% over the ₹93 issue price — we called it a Strong Subscribe expecting a 39% pop. It listed on 23 September at ₹120 on NSE, up 29.0%, and ₹121.90 on BSE, up 31.1% — a strong open close to our estimate — then kept climbing to close at ₹126 on NSE, up 35.5%, and ₹127.99 on BSE, up 37.6%. A clean call: the heavy demand and firming grey market translated almost exactly into the listing pop we expected, and then some.
More details
- Sector
- Steel pipes & tubes
- Registrar
- Bigshare Services
- Issue type
- Book-built (₹99.89 Cr fresh + ₹24.99 Cr OFS)
- Incorporated
- 1974
- Lead manager
- Sarthi Capital Advisors
- Anil Singhvi - Long-term call
- Not clearly stated
- Anil Singhvi - Listing-gain call
- Not clearly stated
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Calls here follow a set formula (GMP, subscription trends) plus Anil Singhvi's publicly shared view — not investment advice. Please do your own research before investing.