Jindal Supreme IPO Day 2: Subscription Surges 12.5x with GMP at 27%—Is It a Buy?

The Jindal Supreme IPO is currently experiencing strong interest among investors on Day 2 of its bidding, having been subscribed 12.53 times overall against the 93.99 lakh shares on offer. Importantly, retail investors have showcased particularly remarkable enthusiasm, with their reserved portion subscribed 19.13 times, indicating a robust appetite for this offering. The Rs 124.88 crore IPO consists of a fresh issue of 1.07 crore shares worth Rs 99.89 crore and an offer for sale of 26.87 lakh shares aggregating to Rs 24.99 crore, with a price band set at Rs 88–Rs 93 per share. Investors looking to participate need to invest a minimum of Rs 14,973 at the upper end of the price band for a lot size of 161 shares.

The Grey Market Premium (GMP) for the Jindal Supreme IPO currently stands at around 27%, translating to an estimated listing price of approximately Rs 118 per share based on the upper price band. This positive sentiment in the grey market indicates that traders and investors are optimistic about the stock’s impending performance; however, it is important to note that GMP can be volatile and does not guarantee actual listing gains. As subscription figures continue to rise, particularly among retail and non-institutional investors, this reflects robust demand as the IPO progresses toward its closing date on September 18, 2026.

For Indian investors, the strong demand and healthy GMP indicate promising prospects for the Jindal Supreme IPO, especially given the company’s established market position and growth in the steel products sector. As Jindal Supreme focuses on utilizing the IPO proceeds for debt repayment and overall corporate purposes, the financial health of the company can serve as a foundation for performance post-listing. Retail investors may view the IPO as an attractive long-term investment opportunity, especially given the anticipated growth in the steel market driven by infrastructure development in the country.

Source: The Economic Times

(Expert Note: This report was prepared by the Wealthova IPO team.)