Jindal Supreme (India), an integrated steel manufacturer of pipes, tubes and allied infrastructure products for over five decades, plans to raise ₹125 crore through an initial public offering on the mainboard.
The company will issue 1.34 crore equity shares in the price band of ₹88 – ₹93 a share. The issue will open for subscription on Wednesday.
The Book Running Lead Manager to the Offer is Sarthi Capital Advisors and Bigshare Services has been appointed as the Registrar.
Abhishek Jindal, Managing Director, Jindal Supreme (India), said that since its inception in 1974, the company has expanded its manufacturing capabilities and product portfolio to serve a range of infrastructure and industrial applications.
Going forward, the company’s focus will be to improve capacity utilisation, increase operational efficiency, expand market reach and grow its product offerings, he said. The IPO will support the company’s plans as it continues to strengthen the business and pursue long-term growth, he said.
Deepak Sharma, Director, Sarthi Capital Advisors said Jindal Supreme has built its business over five decades, with a focus on manufacturing, product diversification and serving infrastructure and industrial applications.
“We believe the company’s manufacturing capabilities, expanding product portfolio and focus on operational efficiency provide a foundation for its next phase of growth,” he added.