- Best listing: Carver Roboweld at +12.5%
- Weakest: Ajwa Projects at 0.0%
- Average listing gain: +6.1% across 3 IPOs
- GMP was within 10 points for 3 of 3
In this post
Three companies made their stock market debut on Wednesday, 4 November 2026 (1 on the mainboard and 2 on the SME platforms). 2 opened above the issue price and 0 below. Carver Roboweld had the strongest start, opening +12.5% at ₹90 against an issue price of ₹80; Ajwa Projects was the weakest at 0.0%.
Below: each listing price against the issue price and the last grey market premium (GMP), where the shares closed on day one, and how the issues were subscribed. Listing prices are the first trades on NSE, or BSE for issues listed only there.
Listing day at a glance
| IPO | Board | Issue price | GMP estimate | Listing price | Listing gain | Day-1 close | Close vs issue |
|---|---|---|---|---|---|---|---|
| Carver Roboweld | SME | ₹80 | ₹85 (+6.3%) | ₹90 | +12.5% | ₹94.5 | +18.1% |
| M.K.Sons Fine Jewels | Mainboard | ₹162 | ₹168.5 (+4.0%) | ₹171.6 | +5.9% | ₹162.2 | +0.1% |
| Ajwa Projects | SME | ₹203 | ₹204 (+0.5%) | ₹203 | 0.0% | ₹192.85 | -5.0% |
GMP vs the actual listing
The grey market came within 10 percentage points of the listing gain for 3 of 3 IPOs and within 5 points for 2. The biggest miss was Carver Roboweld, which opened 6.3 points above what its GMP pointed to. Our GMP accuracy tracker keeps the running record across every listing.
Mainboard listings
M.K.Sons Fine Jewels
It raised ₹330.48 Cr in its IPO. M.K.Sons Fine Jewels opened at ₹171.6 on BSE, +5.9% against the issue price of ₹162. The last GMP before listing was ₹6.5, pointing to about ₹168.5, so the listing came in 1.9 points above the grey market estimate. The shares closed the day at ₹162.2 (+0.1% against the issue price), below where they opened. The issue had been subscribed 5.09x overall (QIB 1.84x, NII 14.12x, retail 3.08x). M.K.Sons Fine Jewels IPO page
SME listings
| IPO | Issue price | Listing price | Listing gain | Day-1 close | Subscribed |
|---|---|---|---|---|---|
| Carver Roboweld | ₹80 | ₹90 | +12.5% | ₹94.5 (+18.1%) | — |
| Ajwa Projects | ₹203 | ₹203 | 0.0% | ₹192.85 (-5.0%) | — |
Carver Roboweld
It raised ₹28.29 Cr in its IPO. Carver Roboweld opened at ₹90 on BSE, +12.5% against the issue price of ₹80. The last GMP before listing was ₹5, pointing to about ₹85, so the listing came in 6.3 points above the grey market estimate. The shares closed the day at ₹94.5 (+18.1% against the issue price), above where they opened. Carver Roboweld IPO page
Ajwa Projects
It raised ₹38.05 Cr in its IPO. Ajwa Projects opened at ₹203 on BSE, 0.0% against the issue price of ₹203. The last GMP before listing was ₹1, pointing to about ₹204, so the listing came in 0.5 points below the grey market estimate. The shares closed the day at ₹192.85 (-5.0% against the issue price), below where they opened. Ajwa Projects IPO page
Next listings
These IPOs are due to list in the coming days. The GMP estimate is where the grey market expects them to open; as today showed, the actual listing can differ.
| IPO | Board | Listing date | Issue price | GMP | GMP estimate |
|---|---|---|---|---|---|
| Bombay Coated & Special Steels | Mainboard | Thu, 5 Nov | ₹82 | ₹8.5 (+10.4%) | ₹90.5 |
| Antala Industries | SME | Thu, 5 Nov | ₹67 | — | — |
| Maxwell Engineering Solutions | SME | Fri, 6 Nov | ₹158 | ₹75 (+47.5%) | ₹233 |
| Vectras Enprocon | SME | Fri, 6 Nov | ₹105 | — | — |
| HGS (India) | SME | Fri, 6 Nov | ₹120 | ₹23 (+19.2%) | ₹143 |
| Johnsoncab Electricals | SME | Fri, 6 Nov | ₹200 | ₹6 (+3.0%) | ₹206 |
| Vedant Poly Fabs | SME | Mon, 9 Nov | ₹94 | ₹1 (+1.1%) | ₹95 |
What the day tells us
- The average listing gain was +6.1%, and 2 of 3 listings opened at a premium.
- By the close, 1 of 3 had risen above their listing price and 2 had fallen below it.
- Listing prices for every IPO are on the IPO listing today page, and year-wise results on the IPO report card.
Frequently asked questions
Which IPOs listed on 4 Nov 2026?
Carver Roboweld, M.K.Sons Fine Jewels and Ajwa Projects.
Which IPO gave the best listing gain on 4 Nov 2026?
Carver Roboweld opened +12.5% at ₹90 against an issue price of ₹80 and closed the day at ₹94.5 (+18.1%).
How accurate was GMP on 4 Nov 2026?
GMP was within 10 percentage points of the listing gain for 3 of 3 IPOs. GMP is unofficial and can differ sharply from the listing price.
This update is compiled automatically from IPO Darbaar's IPO database at 9:45 PM IST on 4 November 2026. Dates, prices and GMP come from offer documents and market sources and can change; the linked IPO pages always show the latest figures. This is not investment advice.
IPOs in this post
For information and education only; not investment advice. Figures come from offer documents, exchange and SEBI filings and IPO Darbaar data as of the date of publishing. Grey market premium (GMP) is unofficial.
