IPO Allotment Today (4 Nov 2026): Maxwell, HGS, Vectras & Johnsoncab — Check Status, GMP, Listing Date
Four SME IPOs that closed for subscription on 3 November 2026 are finalising their basis of allotment today, 4 November 2026: Maxwell Engineering Solutions, HGS (India), Vectras Enprocon and Johnsoncab Electricals. All four are tentatively scheduled to list on 6 November 2026. If you applied, today is the day to check whether shares were allotted to you — refunds and demat credit for successful applicants are scheduled for 5 November.
All four issues opened on 30 October and closed on 3 November, together raising roughly ₹201 crore. Demand varied sharply: Maxwell was subscribed several hundred times, while Vectras closed at under 5 times. Here is the complete allotment picture, registrar-wise status-check steps, and the unofficial grey market signals ahead of Friday's listings.
Allotment at a glance: 4 SME IPOs finalising today
| IPO | Issue size | Issue price | Final subscription | Registrar | Listing (tentative) |
|---|---|---|---|---|---|
| Maxwell Engineering Solutions | ₹57.64 crore | ₹150–158 | ~491 times | KFin Technologies | 6 Nov, NSE Emerge |
| HGS (India) | ₹34.56 crore | ₹120 (fixed price) | ~231 times | KFin Technologies | 6 Nov, NSE Emerge |
| Vectras Enprocon | ₹53.05 crore | ₹99–105 | ~4 times | MUFG Intime India | 6 Nov, BSE SME |
| Johnsoncab Electricals | ₹56.02 crore | ₹190–200 | ~22 times | Maashitla Securities | 6 Nov, BSE SME |
Subscription figures are as reported by exchange-derived trackers on 4 November; final exchange figures should be confirmed on the registrar or exchange allotment pages. Allotment and listing dates are tentative and subject to exchange confirmation.
Maxwell Engineering Solutions IPO allotment
Maxwell Engineering Solutions, a precision engineering company making components for underwater pelletising systems, was the standout of this batch. Its ₹57.64 crore issue — a pure fresh issue of 36.48 lakh shares — was subscribed about 491 times, according to Moneycontrol, with heavy demand across categories. The price band was ₹150–158 per share, with a lot size of 800 shares and a minimum retail application of 1,600 shares (₹2,52,800 at the upper band).
On the morning of 4 November, Maxwell shares were commanding a grey market premium (GMP) of around 50% — roughly ₹79–80 over the ₹158 upper band — as per InvestorGain data cited by Moneycontrol. GMP is unofficial and unregulated; it signals sentiment, not a guaranteed listing price. With subscription near 500 times, allotment for retail applicants will be by lottery, and most applicants will not receive shares.
- Registrar: KFin Technologies — check via the KFin IPO status portal or the NSE IPO application status page.
- Listing: NSE Emerge, tentatively 6 November 2026.
- Lead manager: JDA Capital Services.
HGS (India) IPO allotment
HGS (India), a New Delhi-based maker of geophones, seismic cables and geophysical connectors used in oil-and-gas, mineral and defence research, closed its ₹34.56 crore IPO at about 231.18 times subscription. Non-institutional investors led at 425.02 times, followed by retail at 235.70 times and qualified institutional buyers at 137.90 times. The issue was priced at a fixed ₹120 per share (23.26 lakh fresh shares plus a 5.54 lakh share offer for sale).
Unofficial grey market reports on 4 November put the HGS premium at roughly ₹24–30 over the ₹120 issue price (about 20–25%), implying an indicative price of around ₹144–150 — an unofficial estimate only, not a listing forecast. The company reported FY26 revenue of about ₹45.16 crore and net profit of about ₹11.64 crore.
- Registrar: KFin Technologies — check via the KFin IPO status portal or the NSE IPO application status page.
- Listing: NSE Emerge, tentatively 6 November 2026.
- Lead manager: HEM Securities.
Vectras Enprocon IPO allotment
Vectras Enprocon's ₹53.05 crore book-built issue (40.56 lakh fresh shares worth ₹42.59 crore plus a 9.96 lakh share offer for sale worth ₹10.46 crore) was the quietest of the four, closing at roughly 4 times subscription — QIB 1.88 times, NII about 5.21 times and retail about 4.45 times, per exchange-derived data. The price band was ₹99–105 per share, with a 1,200-share lot and a minimum retail application of 2,400 shares (₹2,52,000 at the upper band). With modest oversubscription, retail applicants stand a materially better allotment chance here than in Maxwell or HGS.
- Registrar: MUFG Intime India (formerly Link Intime) — check via the MUFG Intime IPO allotment portal or the BSE IPO application status page.
- Listing: BSE SME, tentatively 6 November 2026.
- Lead manager: Beeline Capital Advisors.
Johnsoncab Electricals IPO allotment
Johnsoncab Electricals' ₹56.02 crore issue — an entirely fresh issue of 28.01 lakh shares — closed at about 22.2 times subscription (QIB 20.19 times, NII 31.48 times, retail 17.98 times). The price band was ₹190–200 per share, with a 600-share lot and a minimum retail application of 1,200 shares (₹2,40,000 at the upper band). Unofficial grey market reports on 4 November indicated a premium of roughly ₹13 (about 6.5%) over the ₹200 upper band — again, unofficial and subject to change.
- Registrar: Maashitla Securities — check via the Maashitla allotment portal or the BSE IPO application status page.
- Listing: BSE SME, tentatively 6 November 2026.
- Lead manager: ISK Advisors.
How to check IPO allotment status today
Allotment results typically appear on the registrar's portal during the day — an allotment date does not mean results are live first thing in the morning. Follow these steps:
- Registrar portal: Open the allotment page of the registrar for your IPO (KFin Technologies for Maxwell and HGS; MUFG Intime for Vectras; Maashitla Securities for Johnsoncab).
- Select the IPO: Choose the company name from the dropdown list.
- Enter details: Check by PAN, application number, or DP/client ID, as the portal allows.
- Submit: The page shows shares allotted (if any). If no shares were allotted, the blocked amount is released — refunds and demat credit are scheduled for 5 November.
- Exchange route: Alternatively, check on the NSE (for NSE Emerge issues) or BSE (for BSE SME issues) IPO application status pages using your PAN or application number.
Beware of fake allotment links circulating on messaging apps — use only the registrar's official portal or the exchange website, and never share OTPs or bank credentials to "check" allotment.
What happens next: refunds, demat credit and listing
| Event | Date |
|---|---|
| Basis of allotment finalised | 4 November 2026 |
| Refunds initiated / demat credit | 5 November 2026 |
| Listing on NSE Emerge / BSE SME | 6 November 2026 (tentative) |
SME listings can be volatile on debut, with price bands and limited liquidity, so listing-day moves — in either direction — are not a verdict on the business. Investors who missed out should watch the 6 November debuts and the next batch of SME issues rather than chasing unlisted grey-market trades.
FAQs
Which IPOs have allotment today, 4 November 2026?
Maxwell Engineering Solutions, HGS (India), Vectras Enprocon and Johnsoncab Electricals — all four SME IPOs that closed on 3 November — are finalising allotment on 4 November 2026.
When will Maxwell, HGS, Vectras and Johnsoncab list?
All four are tentatively scheduled to list on 6 November 2026 — Maxwell and HGS on NSE Emerge, Vectras and Johnsoncab on BSE SME.
How do I check Maxwell or HGS IPO allotment status?
Both are handled by KFin Technologies. Check on the KFin IPO status portal or the NSE IPO application status page using your PAN, application number or DP ID.
How do I check Vectras or Johnsoncab IPO allotment status?
Vectras is handled by MUFG Intime India and Johnsoncab by Maashitla Securities. Check on the respective registrar's allotment portal or the BSE IPO application status page.
What is the GMP of Maxwell and HGS IPOs today?
Unofficial grey market reports on 4 November put Maxwell at roughly 50% over its ₹158 upper band and HGS at roughly 20–25% over its ₹120 issue price. GMP is unofficial, unregulated and changes quickly — it does not guarantee listing gains.
Conclusion
Today's allotment round is a tale of two extremes: Maxwell (~491x) and HGS (~231x) will leave most applicants empty-handed via lottery, while Vectras (~4x) and Johnsoncab (~22x) offer far better allotment odds. Check your status on the official registrar or exchange portal, watch for refunds and demat credit on 5 November, and mark 6 November for all four listings. For the morning's GMP snapshot and today's listing action, see our IPO GMP Today (4 Nov) roundup and IPO Today (4 Nov) midday update.
Disclaimer: This article is for information only and is not investment advice. IPO dates, subscription figures and GMP are as reported by exchanges and market trackers on 4 November 2026; confirm final details on the official registrar and exchange websites before acting.