Jindal Supreme (India) has received the Securities and Exchange Board of India’s (SEBI) approval to raise funds through initial public offering (IPO).
The company’s IPO consists of both a fresh issue of 1.07 crore equity shares and an offer-for-sale (OFS) component of 26.87 lakh equity shares by promoter VVJ Enterprise. Funds raised through the fresh issue will be used to repay debt. Shares of the company are proposed to be listed on the BSE and the NSE.
Jindal Supreme manufactures and supplies a wide range of steel pipes and tubes for diverse infrastructure and industrial applications.
