Jindal Supreme India has raised Rs 37.46 crore from anchor investors at Rs 93 per share ahead of its Rs 124.88 crore IPO opening on September 16. The company plans to use a significant portion of the fresh proceeds to reduce debt. Investors should note the company's concentration of operations in a single manufacturing plant in Hisar.
Jindal Supreme India Limited has completed its anchor investor round, securing Rs 37.46 crore just before the public opening of its initial public offering. The company allocated 40.28 lakh shares to these institutional investors at the upper price band of Rs 93 per share. The public subscription for the IPO is scheduled to open on September 16, 2026, and will remain open until September 18, 2026.
The total size of the IPO stands at Rs 124.88 crore, which includes a fresh issue of shares worth Rs 99.89 crore and an offer for sale of Rs 24.99 crore. A primary goal for the company is to improve its financial health by lowering its liabilities. The company has earmarked Rs 71 crore from the net fresh proceeds to repay or pre-pay a portion of its outstanding borrowings, which totaled Rs 92.46 crore as of June 30, 2026.
Jindal Supreme operates in the steel manufacturing sector, producing items such as mild steel black pipes, tubes, and infrastructure components used in water supply, plumbing, and rural electrification. For the financial year ending March 2026, the company reported a net profit of Rs 22.53 crore on revenue of Rs 675.94 crore. While revenue has shown growth, profitability experienced a contraction in the last financial year compared to the previous period.
Investors evaluating the offering should consider certain operational risks. A major factor is the company’s heavy concentration of operations at a single manufacturing facility located in Hisar, Haryana. Any production disruption, natural disaster, or local issues at this specific site could significantly affect the company's business and cash flow. Furthermore, the company is highly dependent on a small group of suppliers, with its top 10 suppliers accounting for over 70 percent of total purchases. This concentration poses a risk, as any supply shortage or delay could hinder the manufacturing process.
The business also requires significant working capital to fund its day-to-day operations and growth plans. The inability to manage this requirement effectively could create pressure on the balance sheet. Following the close of the subscription, the company's shares are expected to be listed on the BSE and NSE on September 23, 2026. The next steps for investors will be tracking the subscription trends during the three-day bidding window and monitoring how the company executes its debt reduction plan after listing.