Upcoming IPO: Jindal Supreme (India) Refiled DRHP with SEBI to Raise Capital

Jindal Supreme (India), a Haryana-based steel pipes and tubes manufacturer, has once again filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) to raise funds through an initial public offering (IPO), primarily aimed at reducing its debt burden.

Jindal Supreme (India) IPO Details

The proposed IPO comprises a total issue size of 1.34 crore shares, including a fresh issue of 1.07 crore equity shares and an offer-for-sale (OFS) of 26.86 lakh shares by promoter entity VVJ Enterprise, according to the DRHP submitted on April 13.

Notably, the company has retained the same issue structure as its earlier filing. Jindal Supreme had initially submitted draft papers in December 2025 but withdrew them in March 2026 before refiling now. Sarthi Capital Advisors has been appointed as the merchant banker for the proposed IPO.

Use of IPO Proceeds

From the fresh issue proceeds, the company plans to allocate ₹77 crore towards repayment of certain borrowings, with the remaining funds earmarked for general corporate purposes.

Also Read: NSE Aims for Year-End IPO: Plans 4–5% Stake Sale

About Jindal Supreme (India)

Founded in 1974 by the late Madan Lal Jindal, the grandfather of current promoter Abhishek Jindal, the company manufactures a wide range of products such as mild steel black pipes, tubes, galvanised pipes, metal beam crash barriers, and galvanised iron tubular poles. These products cater to diverse sectors, including water supply and plumbing, infrastructure and construction, roads and highways, bridges, oil and gas, chemicals, and agriculture.

On the financial side, Jindal Supreme reported a profit of ₹16.3 crore on revenue of ₹489.65 crore for the nine-month period ending December 2025. For the full fiscal year 2025, profit nearly doubled to ₹24.26 crore compared to ₹12.87 crore in the previous year. However, revenue declined by 9.1% year-on-year to ₹586.4 crore from ₹645.4 crore.

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