Steel pipes & tubes maker Jindal Supreme files IPO papers for debt reduction

Jindal Supreme IPO News

Haryana-based steel pipes and tubes manufacturer Jindal Supreme (India) has filed draft red herring prospectus (DRHP) with the SEBI to raise funds via initial public offering (IPO) of 1.34 crore shares for mainly debt reduction.

The company proposed to issue over 1.07 crore fresh shares, while promoter VVJ Enterprise will be selling 26.86 lakh shares via offer-for-sale, as per the draft papers filed on December 9. It is 100 percent owned by promoters.

Abhishek Jindal-promoted Jindal Supreme will utilise Rs 79 crore of fresh issue proceeds for repayment of certain outstanding borrowings, and the remainder funds for general corporate purposes.

As of June 2025, the company had total borrowings of Rs 90.23 crore on a consolidated basis.

Jindal Supreme that established by Late Madan Lal Jindal (the grandfather of Abhishek Jindal) and commenced its operations in 1974, manufactures steel pipes, and tubes, catering to the infrastructure and industrial applications.

The company, competing with listed peers like Vibhor Steel Tubes, Sambhv Steel Tubes, and Hi-Tech Pipes, has recorded profit of Rs 6.3 crore on revenue of Rs 171.4 crore for the quarter ended June 2025.

Profit in the fiscal 2025 grew sharply by 88.5 percent to Rs 24.3 crore compared to Rs 12.9 crore in previous year, but revenue during the same period dropped 9.1 percent to Rs 586.4 crore, down from Rs 645.4 crore.

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