Haryana-based Jindal Supreme refiles IPO papers with SEBI

Haryana-based steel pipes and tubes maker Jindal Supreme (India) has refiled its draft papers with the Securities and Exchange Board of India to raise funds via IPO for the main purpose of debt reduction.

The 1.34 crore shares initial public offering (IPO) comprises of fresh issuance of 1.07 crore equity shares, and an offer-for-sale of 26.86 lakh shares by promoter entity VVJ Enterprise, as per the DRHP filed on April 13.

The company has not made any changes in the number of shares issuing via IPO. Earlier, it had filed preliminary papers with SEBI in December 2025, which subsequently were withdrawn in March 2026.

Incorporated in 1974 by late Madan Lal Jindal, the grandfather of promoter Abhishek Jindal, Jindal Supreme manufactures mild steel black pipes, tubes, galvanized pipes, metal beam crash barriers, and galvanized iron tubular poles which are used in several industry segments like water supply and plumbing, infrastructure & construction, road & highways, bridges, oil & gas, chemicals, and agriculture.

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The company proposed to utilise Rs 77 crore of proceeds from fresh issue for repayment of certain borrowings, and the remainder funds for general corporate purposes.

If the IPO plans fructify this year, the public issue money may help the company reduce debt burden significantly. It had total borrowings of Rs 92.16 crore on a consolidated basis and accrued interest on borrowings, as of December 2025.

On the financial front, profit was Rs 16.3 crore and revenue of Rs 489.65 crore for nine months period ended December 2025. Profit in the fiscal 2025 nearly doubled to Rs 24.26 crore from Rs 12.87 crore in previous year, however, revenue during the same period fell 9.1 percent to Rs 586.4 crore from Rs 645.4 crore.

Sarthi Capital Advisors is appointed as the merchant banker for the Jindal Supreme IPO.