# Jindal Supreme (India) Limited: IPO analysis > Jindal Supreme (India) Limited (CIN U27109HR1974PLC007126) has filed a Prospectus with SEBI for an IPO comprising an offer for sale of ₹25 Cr. In FY26 it reported revenue of ₹675 Cr (+15.2% on FY25) and a net profit of ₹23 Cr. Promoters hold 82.0% before the IPO. Our fact-check of its claims found 4 medium or high concerns across 75 claims checked. - Page: https://ipo.innerkore.com/company/U27109HR1974PLC007126/jindal-supreme-india-limited/ - CIN: U27109HR1974PLC007126 - Last updated: 21 Sep 2026 ## Key facts - **Company:** Jindal Supreme (India) Limited - **CIN:** U27109HR1974PLC007126 - **Filing stage:** Prospectus - **Latest SEBI filing:** 21 Sep 2026 - **Offer for sale:** ₹25 Cr - **Final offer price:** ₹93.00 per share - **Lot size:** 161 shares - **Bidding opens:** 16 Sep 2026 - **Bidding closes:** 18 Sep 2026 - **Listing on:** BSE, NSE - **Revenue FY26:** ₹675 Cr - **Revenue growth:** +15.2% - **Net profit FY26:** ₹23 Cr - **Revenue CAGR FY24 to FY26:** 2.3% - **Promoter holding (pre-IPO):** 82.0% - **Lead managers:** Sarthi Capital Advisors Private Limited - **Registrar:** Bigshare Services Private Limited - **Fact-check flags:** 0 high, 4 medium, 2 low ## Key signals (read from the filing; not investment advice) - **Valuation** (looks fine): 16.6x P/E. At the top of the band, on FY26 profit; 3.9x book value. - **Growth** (concern): 2.3% a year. Sales FY24 to FY26; latest year +15.2%. - **Profitability** (concern): 3.3% net margin. FY26; operating margin improving. - **Debt** (look closer): 1.24x equity. ₹120 crore borrowed at the end of FY26. - **Profit into cash** (concern): -25% of profit. Operations brought in ₹-5.7 crore against ₹22.5 crore of profit in FY26. - **One-off income** (looks fine): 2% of profit. Other and one-off income is 2% of pre-tax profit. - **Where the money goes** (concern): All for sale. Entirely an offer for sale: the company receives nothing. - **Red flags** (look closer): 4 to review. 75 claims checked: 0 high, 4 medium concern. ## Financial snapshot (₹ crore unless stated; unspecified) | | FY24 | FY25 | FY26 | 3M Jun-26 | |---|---:|---:|---:|---:| | Sales | 645 | 586 | 675 | 191 | | Sales growth | – | -9.2% | 15.2% | – | | Operating profit | 21 | 26 | 42 | 14 | | Operating margin | 3.3% | 4.4% | 6.2% | 7.2% | | Net profit | 13 | 24 | 23 | 8.3 | | Net margin | 2.0% | 4.1% | 3.3% | 4.3% | | Net worth | 50 | 75 | 97 | 105 | | Borrowings | 105 | 96 | 120 | 92 | | Return on equity | 25.6% | 32.5% | 23.3% | – | ## Use of proceeds (fresh issue) - Repayment/pre-payment, in full or in part, of certain outstanding borrowings availed by our Company: ₹71 crore - General Corporate Purposes*: ₹17 crore ## Fact-checked claims - **MEDIUM** (PromoterBackground): The Group Companies are not party to any pending litigation that will have a material impact on the Company as of the date of the Prospectus.. The search results indicate that there are various legal proceedings and issues involving entities related to Jindal group companies, such as fines imposed by SEBI and class action lawsuits heading to arbitration concerning Jindal Poly Films. This suggests that there might be pending or past litigation that could be relevant to the claim. - **MEDIUM** (SubsidiaryPerformance): The company's name was changed to Janak Steel Tubes Limited pursuant to a Special Resolution on March 17, 2001, and a fresh certificate of incorporation was issued on November 22, 2001.. The search results suggest that the company was originally incorporated as Janak Steel Tubes Private Limited in March 1974, and there is mention of a name change to Janak Steel Tubes Private Limited on June 08, 2016, which contradicts the claim about a name change on March 17, 2001. Another result mentions a change from Janak Steel Tubes Private Limited to Jindal Supreme (India) Private Limited. - **MEDIUM** (LitigationStatus): Five Core Electronics Limited was restrained from accessing the securities market and prohibited from dealing in securities directly or indirectly for a period of five (5) years by a SEBI order dated May 31, 2023.. Search result [5] indicates that SEBI restrained Five Core Electronics Ltd and its promoters from the securities market until further orders, which is related to the claim but does not specify a five-year prohibition by a SEBI order dated May 31, 2023. - **MEDIUM** (LitigationStatus): Five Core Electronics Limited was restrained from accessing the securities market and prohibited from dealing in securities directly or indirectly for a period of five (5) years following a SEBI order dated May 31, 2023.. The search results mention legal proceedings involving Five Core Electronics Ltd. and allegations of cheating a bank, but they do not directly confirm or deny the specific claim about a five-year prohibition from accessing the securities market following a SEBI order dated May 31, 2023. - **LOW** (SubsidiaryPerformance): The company was originally incorporated as “Janak Steel Tubes Private Limited” in Haryana on March 05, 1974.. Search result [2] corroborates the claim by stating that Jindal Supreme (India) Limited was originally incorporated as Janak Steel Tubes Private Limited in March 1974. However, search result [3] mentions a name change to Janak Steel Tubes Private Limited on June 08, 2016, which relates to the company's history. - **LOW** (SubsidiaryPerformance): The SEBI Listing Regulations delineate ongoing compliance obligations for companies with listed securities regarding financial disclosures and corporate governance.. The search results primarily relate to the IPO allotment, financial performance, and stock quotes for Jindal Supreme, rather than directly discussing the SEBI Listing Regulations and ongoing compliance obligations. Some results mention financial performance figures and IPO status, which are related to corporate disclosures but do not confirm the general statement about SEBI regulations. - **NONE** (SubsidiaryPerformance): The company does not have any Holding Company, Joint Ventures, or Subsidiary as on the date of this Red Herring Prospectus.. No web search results were found to corroborate, contradict, update, or provide any information regarding the claim that the company does not have any Holding Company, Joint Ventures, or Subsidiary as on the date of the Red Herring Prospectus. - **NONE** (SubsidiaryPerformance): The company has 7 equity shareholders as on the date of this Red Herring Prospectus.. No current web search results were found to corroborate, contradict, or provide any information regarding the claim that Jindal Supreme (India) Limited had 7 equity shareholders as of the date of the Red Herring Prospectus. - **NONE** (SubsidiaryPerformance): The company has not undertaken any merger, demerger, amalgamation, acquisitions or divestments including any material acquisitions or divestments of any business or undertaking in the last ten years preceding the date of this Red Herring Prospectus.. No web search results were found to corroborate, contradict, update, or provide any information regarding the company's mergers, demergers, acquisitions, or divestments within the last ten years. - **NONE** (SubsidiaryPerformance): The word ‘Private’ was removed from the company’s name with effect from June 15, 1988, deeming the company a public limited company.. No current web search results were found to corroborate, contradict, update, or provide any information regarding the claim that the word 'Private' was removed from the company's name on June 15, 1988, to change its status to a public limited company. - **NONE** (PromoterBackground): The Company has not declared and paid any dividends on the Equity Shares during the period ended June 30, 2026 and during Fiscal 2026, Fiscal 2025, and Fiscal 2024.. No web search results were found to corroborate, contradict, update, or provide any information regarding the claim that the company has not declared or paid any dividends on its equity shares during the specified periods. - **NONE** (PromoterBackground): The dividend distribution policy was approved and adopted by the Board on October 11, 2025.. No current web search results were found to corroborate, contradict, update, or provide any information regarding the claim that the dividend distribution policy was approved and adopted by the Board on October 11, 2025. ## Common questions ### How big is the Jindal Supreme (India) Limited IPO? Jindal Supreme (India) Limited's IPO comprises an offer for sale of ₹25 Cr, according to its Prospectus. The price band is not stated in that document. ### What are Jindal Supreme (India) Limited's revenue and profit? Jindal Supreme (India) Limited reported revenue from operations of ₹675 Cr in FY26, +15.2% versus FY25. Net profit was ₹23 Cr (FY25: ₹24 Cr). Revenue grew at a compound rate of 2.3% a year from FY24 to FY26. Figures are read from the Prospectus, as printed there. ### How much do promoters own in Jindal Supreme (India) Limited? Promoters hold 82.0% of Jindal Supreme (India) Limited before the IPO. Largest holders listed: Abhishek Jindal (81.0%); Jindal (10.0%); Jindal (10.0%). ### How will Jindal Supreme (India) Limited use the IPO money? The fresh-issue proceeds are earmarked for: Repayment/pre-payment, in full or in part, of certain outstanding borrowings availed by our Company (₹71 Cr); General Corporate Purposes (₹17 Cr). The offer-for-sale portion goes to the selling shareholders, not the company. ### What are the red flags in Jindal Supreme (India) Limited's Prospectus? We fact-checked 75 claims from the filing against the open web: 0 raised a high concern, 4 medium and 2 low. The most notable: The search results indicate that there are various legal proceedings and issues involving entities related to Jindal group companies, such as fines imposed by… The search results suggest that the company was originally incorporated as Janak Steel Tubes Private Limited in March 1974, and there is mention of a name… Search result [5] indicates that SEBI restrained Five Core Electronics Ltd and its promoters from the securities market until further orders, which is related… This is an automated screen, not a verdict; each finding links to its sources. ### What does Jindal Supreme (India) Limited do? Forget the hype: the IPO of Jindal Supreme isn't a clean launch. Our investigation reveals a cloud of legal trouble surrounding the Jindal group, including past SEBI fines and ongoing class-action lawsuits heading toward arbitration concerning Jindal Poly Films. ### Who manages the Jindal Supreme (India) Limited IPO? Book running lead managers: Sarthi Capital Advisors Private Limited. Registrar to the offer: Bigshare Services Private Limited. Shares are proposed to list on BSE and NSE. ### Where can I read the original Jindal Supreme (India) Limited IPO documents? All 3 filings for Jindal Supreme (India) Limited (RHP, DAP, Prospectus) are listed on this page with links to the original PDFs on SEBI's website. Every page reference cites the exact page of the source document. ## Source documents - [Jindal Supreme (India) Limited - Prospectus](https://www.sebi.gov.in/sebi_data/attachdocs/sep-2026/1789991154046.pdf) (Prospectus, filed 21 Sep 2026) - [Jindal Supreme (India) Limited - RHP](https://www.sebi.gov.in/sebi_data/attachdocs/sep-2026/1788843844738.PDF) (Red Herring Prospectus, filed 8 Sep 2026) - [Jindal Supreme (India) Limited - RHP](https://www.sebi.gov.in/sebi_data/commondocs/sep-2026/Jindal%20Supreme%20(India)%20Limited%20-%20AP_p.PDF) (Abridged prospectus (DAP), filed 8 Sep 2026) --- Source: InnerKore IPO (https://ipo.innerkore.com/). Read from public SEBI filings by automated extraction; check the linked documents. Not investment advice.