IPO GMP Today (30 Oct): Maxwell Leads at 44% as 4 SME IPOs Open
Maxwell Engineering Solutions has stormed into Friday's grey market as the clear leader, commanding a premium of around 44% on the morning it opens for subscription. Four SME IPOs open today, three issues close for bidding, and allotment is due for three recently closed IPOs — making 30 October one of the busiest primary-market days of the week.
Important note: All GMP figures below are unofficial, market-reported grey market premiums as of the morning of 30 October 2026. They are not endorsed by SEBI, NSE or BSE, they change through the day, and they do not guarantee listing prices.
Top GMP Movers Today
Maxwell Engineering Solutions tops the board by a wide margin. Bombay Coated and Special Steels and M.K. Sons Fine Jewels are the only other open issues in double-digit or near-double-digit premium territory.
| IPO | Price Band | GMP (unofficial) | Premium | Estimated Listing Price |
|---|---|---|---|---|
| Maxwell Engineering Solutions (SME) | ₹150–₹158 | ₹70 | +44.3% | ~₹228 |
| Bombay Coated and Special Steels | ₹78–₹82 | ₹9 | +11.0% | ~₹91 |
| M.K. Sons Fine Jewels | ₹153–₹162 | ₹13 | +7.7% | ~₹175 |
| Johnsoncab Electricals (SME) | ₹190–₹200 | ₹13 | +6.5% | ~₹213 |
| Ajwa Projects (SME) | ₹203 (fixed price) | ₹5 | +2.5% | ~₹208 |
| Carver Roboweld (SME) | ₹76–₹80 | ₹0 | 0.0% | ~₹80 |
| Antala Industries (SME) | ₹63–₹67 | ₹0 | 0.0% | ~₹67 |
| HGS (India) (SME) | ₹114–₹120 | ₹0 | 0.0% | ~₹120 |
| Vectras Enprocon (SME) | ₹99–₹105 | ₹0 | 0.0% | ~₹105 |
One tracker quoted Maxwell's GMP lower, at ₹52 (about 33%), so treat the ₹70 headline as the higher end of the morning range rather than a single settled price. Either way, Maxwell is the day's standout grey-market story.
4 SME IPOs Opening Today (30 Oct – 3 Nov)
- Maxwell Engineering Solutions — ₹150–₹158, about ₹58 crore issue, NSE SME. The day's GMP leader.
- Johnsoncab Electricals — ₹190–₹200, about ₹56 crore issue, BSE SME, GMP around ₹13 (+6.5%).
- HGS (India) — ₹114–₹120, about ₹35 crore issue, NSE SME, no premium reported this morning.
- Vectras Enprocon — ₹99–₹105, about ₹53 crore issue, BSE SME, no premium reported this morning.
3 IPOs Closing Today
- M.K. Sons Fine Jewels (mainboard, 28–30 Oct, ₹153–₹162) — subscribed about 1.18x going into the final day, GMP around ₹13.
- Ajwa Projects (SME, 28–30 Oct, ₹203 fixed price) — GMP around ₹5.
- Carver Roboweld (SME, 28–30 Oct, ₹76–₹80) — subscribed about 0.84x, no premium reported.
All three are scheduled for allotment on 2 November and listing on 4 November.
Allotment Due Today: BLS, SFC, Wiscon
Allotment is expected to be finalised today, 30 October, for three issues that closed on 29 October:
| IPO | Issue Size | Subscription | GMP (unofficial) | Listing |
|---|---|---|---|---|
| BLS Polymers | ~₹255 crore | Heavily subscribed on the final day | ~₹59–68 (+39–45%) | 3 Nov |
| SFC Environmental Technologies | ~₹668 crore | ~9.47x | ~₹12–19 (+4–6%) | 3 Nov |
| Wiscon Industries (SME) | ~₹110 crore | ~1.15x | ₹0 (flat) | 3 Nov |
BLS Polymers remains the allotment-day watch: its grey market premium of roughly ₹68 points to a strong listing, but final subscription figures varied across trackers, so investors should check the registrar's basis of allotment rather than rely on any single tracker. BLS allotment is handled by KFin Technologies and SFC's by MUFG Intime.
Still Open: Bombay Coated and Antala
Bombay Coated and Special Steels (₹78–₹82, closes 2 November) was subscribed about 2.67x in early data, with a GMP of around ₹9 (+11%). Antala Industries (SME, ₹63–₹67, closes 2 November) was at about 0.78x with no premium reported. Both list tentatively on 5 November.
Meanwhile, EAAA India Alternatives — whose allotment was finalised on 29 October — is now headed for its 2 November listing with a modest unofficial premium of around ₹30–38 (about 2%) over its ₹1,665 upper price band. See our EAAA India Alternatives IPO allotment guide for the status-check steps.
Key IPO Dates at a Glance
| Date | Event |
|---|---|
| 30 Oct 2026 | Maxwell, Johnsoncab, HGS (India), Vectras Enprocon open; M.K. Sons, Ajwa, Carver Roboweld close; BLS, SFC, Wiscon allotment |
| 2 Nov 2026 | Bombay Coated, Antala close; M.K. Sons, Ajwa, Carver Roboweld allotment; EAAA lists |
| 3 Nov 2026 | BLS, SFC, Wiscon list; Maxwell, Johnsoncab, HGS, Vectras close |
| 4 Nov 2026 | M.K. Sons, Ajwa, Carver Roboweld list; Maxwell, Johnsoncab, HGS, Vectras allotment |
| 5 Nov 2026 | Bombay Coated, Antala allotment |
| 6 Nov 2026 | Maxwell, Johnsoncab, HGS, Vectras list (tentative) |
What to Watch
- Whether Maxwell's 44% premium holds or cools as Day 1 subscription numbers come in.
- Final-day demand for M.K. Sons Fine Jewels — it enters the last day only modestly subscribed.
- BLS Polymers' basis of allotment this evening, which will confirm how heavily the issue was actually subscribed.
- Whether the four new SME opens split investor attention or whether Maxwell absorbs most of the day's SME demand.
FAQs
Which IPO has the highest GMP today?
Maxwell Engineering Solutions, at around ₹70 (+44.3%) over its ₹158 upper price band on the morning of 30 October 2026, according to grey market trackers. The figure is unofficial and may change.
Which IPOs are opening today, 30 October 2026?
Four SME IPOs: Maxwell Engineering Solutions, Johnsoncab Electricals, HGS (India) and Vectras Enprocon. All close on 3 November.
Which IPOs close for subscription today?
M.K. Sons Fine Jewels, Ajwa Projects and Carver Roboweld all close today, 30 October.
Which IPO allotments are due today?
BLS Polymers, SFC Environmental Technologies and Wiscon Industries — all closed on 29 October and list on 3 November.
Is GMP a reliable predictor of listing gains?
Only loosely. GMP reflects unofficial grey-market sentiment, not fundamentals, and listing prices frequently land above or below the GMP-implied price. Always read the offer document before applying.
Conclusion
Friday's primary market is dominated by one name — Maxwell Engineering — but the day's real action is breadth: four SME opens, three closes and three allotments in a single session. Maxwell's premium will be tested by actual subscription demand over the next three days, while BLS Polymers' allotment this evening sets up the next listing-day story on 3 November.
For yesterday's context, see our IPO GMP roundup for 29 October and the 29 October subscription close update.
Disclaimer: GMP and subscription figures cited are market-reported and unofficial, and may differ across trackers. This article is for information only and is not investment advice.