Jindal Supreme opens IPO seeking ₹124.88cr with ₹27 gray-market premium
Business
Jindal Supreme, a well-known name in steel pipes, tubes and other steel products, just opened its IPO for subscription.
The company is aiming to raise ₹124.88 crore, and the offer is live until September 18.
With a gray market premium of ₹27 per share, there's buzz about a possible 29.03% listing gain, so it's definitely catching some attention.
Minimum bid 161 shares allotment Sep21
If you're thinking about applying, the minimum bid is 161 shares (about ₹14,973 at the top price band of ₹93 each).
Most of the money raised will go toward paying off ₹71 crore in loans and covering general business needs.
Allotment results are expected by September 21, with shares set to list on NSE and BSE on September 23.