Steel Products Manufacturing - Listed on 23 September 2026
Jindal Supreme (Steel Products Manufacturing) closed its IPO window in 2026 and listed on NSE and BSE on 23 September 2026 at an upper band issue price of Rs 93, opening at Rs 120 for a listing gain of +29.0% and closing day one at Rs 126 (+35.5% on closing basis). The IPO was subscribed 362.14x overall - QIB 126.41x, HNI/NII 327.99x, Retail 149.34x. The total issue size was Rs 124.88 Cr (Fresh Issue Rs 99.89 Cr, OFS Rs 24.99 Cr). IPO GMP data, subscription trends across Day 1 - Day 3 and Nifty performance around the listing window are detailed below.
Steel Products Manufacturing
Jindal Supreme is a steel products manufacturer producing MS black pipes and tubes, galvanized pipes and tubes, metal beam crash barriers and GI tubular poles for infrastructure and industrial applications. Established in 1974, it operates from its manufacturing facility in Hisar, Haryana.
Issue structure, listing outcome and context
The ₹124.88 crore IPO comprised a ₹99.89 crore fresh issue and ₹24.99 crore offer for sale, priced at ₹93 per share at the upper end. Fresh issue proceeds were intended partly for repayment or pre-payment of outstanding borrowings and general corporate purposes. The stock listed on NSE at ₹120, a 29.03% premium to the issue price, and closed at ₹126, representing a 35.48% gain over the issue price.
Number of times each investor category subscribed by close of Day 3.
How overall subscription built up across the three-day issue window.
Grey market premium (GMP) tracked day-by-day across the IPO window. Absolute GMP is the premium in rupees over the upper issue price; GMP % is that premium as a percent of the issue price.
| Day | GMP (Rs) | GMP % |
|---|---|---|
| Day 1 | Rs 27 | +29.00% |
| Day 2 | Rs 27 | +29.00% |
| Day 3 | Rs 27 | +31.20% |
| Day 4 | Rs 31 | +33.30% |
| Day 5 | Rs 32 | +34.40% |
Comparison between market-based GMP prediction and IPOGyani's AI-powered listing gain prediction.
Prediction Accuracy: 1.9 pp (Highly accurate)
How the broader market moved around the Jindal Supreme IPO window. Helpful for isolating how much of the listing gain came from company fundamentals vs. market tailwind.
Jindal Supreme IPO listed at +29.0% versus the upper issue price of Rs 93 on 23 September 2026.
Jindal Supreme IPO was subscribed 362.14x overall. QIB portion was subscribed 126.41x, HNI / NII 327.99x and Retail 149.34x.
IPO GMP started at Rs 27 on Day 1 and moved to Rs 32 by the close of the issue window. See the day-by-day GMP table above for the full trajectory.