Jindal Supreme IPO Day 2: Issue subscribed 31.50 times

Jindal Supreme (India) Ltd's IPO saw a remarkable 31.50 times subscription on its second day of bidding, according to the National Stock Exchange (NSE). The company's ₹125-crore offering received bids for 29,60,44,868 shares, while 93,99,600 shares were available for subscription. The retail quota was subscribed 39.74 times, with non-institutional investors and Qualified Institutional Buyers (QIBs) each receiving 37.60 and 12.50 times subscription respectively.

The IPO, priced between ₹88-93 per share, comprised a fresh issue of 1.07 crore equity shares and an Offer-for-Sale (OFS) of 26.86 lakh shares by VVJ Enterprise Pvt Ltd. The proceeds are intended for debt repayment and general corporate purposes, with the shares set to be listed on both BSE and NSE on September 23. Sarthi Capital Advisors is the book-running lead manager, and Bigshare Services acts as the registrar.