The Jindal Supreme IPO final subscription reached 181.07 times the shares offered when bidding closed on September 18. The final category mix matters more than an intraday headline: non-institutional demand was highest, while institutional and retail books were also more than 100 times covered.
- The issue received bids for about 170.20 crore shares against 93.996 lakh on offer.
- Non-institutional investors subscribed 327.99 times, retail 149.34 times and qualified institutions 126.41 times.
- The price band was ₹88–₹93 and the public issue closed September 18.
- Heavy demand changes allotment probability; it does not guarantee a listing gain.
Jindal Supreme IPO final subscription shows three-way demand
Exchange-derived final data reported by NDTV Profit, Economic Times and Moneycontrol puts total bids at 181.07 times the offer. Qualified institutional buyers applied for 126.41 times their reserved shares. Non-institutional investors led at 327.99 times, while the retail portion was covered 149.34 times.
The absolute numbers explain the scale. Business Today reported 1,70,19,79,461 bids against 93,99,600 shares offered; a later stock-exchange-data reading cited by Quest Securities showed 1,70,19,83,003 units, a tiny timing difference that leaves the 181.07-times ratio unchanged. Lapaas Voice uses the final reported ratio and notes the underlying count variation instead of manufacturing false precision.
| Investor category | Final subscription |
|---|---|
| Qualified institutions | 126.41x |
| Non-institutional investors | 327.99x |
| Retail investors | 149.34x |
| Total | 181.07x |
What oversubscription changes
Oversubscription is a demand-to-supply ratio, not a return forecast. Once valid bids exceed reserved shares, allocation rules determine who receives stock and how much. The exceptionally high retail and non-institutional coverage means many applicants will receive no allocation or only a fraction of the quantity requested.
The category spread is still informative. Institutional coverage above 100 times means the book was not supported only by smaller applications. At the same time, the much higher non-institutional ratio shows particularly concentrated demand from that bucket. None of those figures establishes whether the ₹93 upper-band valuation will be sustained after listing.
Ignore GMP and watch official allocation
Several reports paired the final book with a grey-market premium. GMP is unofficial and unregulated, so it is not part of this article’s evidence. The decision-useful next records are the basis of allotment, the final issue price and the September 23 exchange debut.
The offer includes fresh capital intended partly for debt repayment and general corporate purposes, according to the prospectus and independent coverage. Subscription strength does not change those uses. It changes the distribution of scarce shares among bidders.
The Jindal Supreme IPO final subscription result is therefore a completed demand event, not a recommendation. Its clearest consequence is allocation scarcity across every main investor category.
For context, Lapaas Voice has explained the difference between anchor demand and public bidding in the NSE IPO anchor allocation and the mechanics of a mixed offer in the A-One Steels IPO structure.
Jindal Supreme IPO final subscription FAQs
How many times was the IPO subscribed?
The final reported total was 181.07 times the shares offered.
Which category had the strongest demand?
Non-institutional investors led at 327.99 times, ahead of retail at 149.34 times and institutions at 126.41 times.
Does 181.07-times demand guarantee a listing gain?
No. Subscription measures demand during the offer. The listing price depends on subsequent market supply, demand and valuation.
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