- Best listing: Maxwell Engineering Solutions at +90.0%
- Weakest: Vectras Enprocon at +1.0%
- Average listing gain: +35.9% across 4 IPOs
- GMP was within 10 points for 1 of 3
In this post
Four companies made their stock market debut on Friday, 6 November 2026. 4 opened above the issue price and 0 below. Maxwell Engineering Solutions had the strongest start, opening +90.0% at ₹300.2 against an issue price of ₹158; Vectras Enprocon was the weakest at +1.0%.
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 |
|---|---|---|---|---|---|---|---|
| Maxwell Engineering Solutions | SME | ₹158 | ₹269 (+70.3%) | ₹300.2 | +90.0% | ₹315.2 | +99.5% |
| HGS (India) | SME | ₹120 | ₹160 (+33.3%) | ₹160 | +33.3% | ₹168 | +40.0% |
| Johnsoncab Electricals | SME | ₹200 | ₹208 (+4.0%) | ₹238.5 | +19.3% | ₹237.7 | +18.9% |
| Vectras Enprocon | SME | ₹105 | — | ₹106 | +1.0% | ₹107.5 | +2.4% |
GMP vs the actual listing
The grey market came within 10 percentage points of the listing gain for 1 of 3 IPOs and within 5 points for 1. The biggest miss was Maxwell Engineering Solutions, which opened 19.8 points above what its GMP pointed to. Our GMP accuracy tracker keeps the running record across every listing.
SME listings
| IPO | Issue price | Listing price | Listing gain | Day-1 close | Subscribed |
|---|---|---|---|---|---|
| Maxwell Engineering Solutions | ₹158 | ₹300.2 | +90.0% | ₹315.2 (+99.5%) | 491.39x |
| HGS (India) | ₹120 | ₹160 | +33.3% | ₹168 (+40.0%) | 231.18x |
| Johnsoncab Electricals | ₹200 | ₹238.5 | +19.3% | ₹237.7 (+18.9%) | — |
| Vectras Enprocon | ₹105 | ₹106 | +1.0% | ₹107.5 (+2.4%) | — |
Maxwell Engineering Solutions
It raised ₹57.64 Cr in its IPO. Maxwell Engineering Solutions opened at ₹300.2 on NSE, +90.0% against the issue price of ₹158. The last GMP before listing was ₹111, pointing to about ₹269, so the listing came in 19.8 points above the grey market estimate. The shares closed the day at ₹315.2 (+99.5% against the issue price), above where they opened. The issue had been subscribed 491.39x overall. Maxwell Engineering Solutions IPO page
Vectras Enprocon
It raised ₹53.05 Cr in its IPO. Vectras Enprocon opened at ₹106 on BSE, +1.0% against the issue price of ₹105. The shares closed the day at ₹107.5 (+2.4% against the issue price), above where they opened. Vectras Enprocon IPO page
Maxwell Engineering Solutions opened at the 90% limit that SME shares are allowed on their first day, so their true demand may have been even higher than the listing price shows.
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 |
|---|---|---|---|---|---|
| Vedant Poly Fabs | SME | Mon, 9 Nov | ₹94 | ₹1 (+1.1%) | ₹95 |
| Antala Industries | SME | Wed, 11 Nov | ₹66 | — | — |
What the day tells us
- The average listing gain was +35.9%, and 4 of 4 listings opened at a premium.
- By the close, 3 of 4 had risen above their listing price and 1 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 6 Nov 2026?
Maxwell Engineering Solutions, HGS (India), Johnsoncab Electricals and Vectras Enprocon.
Which IPO gave the best listing gain on 6 Nov 2026?
Maxwell Engineering Solutions opened +90.0% at ₹300.2 against an issue price of ₹158 and closed the day at ₹315.2 (+99.5%).
How accurate was GMP on 6 Nov 2026?
GMP was within 10 percentage points of the listing gain for 1 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 6 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.
