IPO Today (4 Nov): Vedant Poly Fabs Closes, Carver Roboweld Lists at 12.5% Premium
Wednesday, 4 November 2026, is a busy day in India's primary market. Vedant Poly Fabs closes its SME IPO today, two SME issues — Carver Roboweld and Ajwa Projects — made their stock-market debuts this morning, and the basis of allotment for four SME IPOs that closed on 3 November is due tonight. Here is the complete midday update: live subscription numbers, listing-day performances, and the allotment and listing calendar for the rest of the week.
IPOs Open for Subscription Today
Only two SME IPOs are open for bidding today, and one of them closes this evening.
| IPO | Price Band | Issue Size | Closes | Subscription (midday) |
|---|---|---|---|---|
| Vedant Poly Fabs (NSE SME) | ₹88–94 | ₹56.68 crore | Today, 4 Nov | ~1.47x |
| Antala Industries (BSE SME) | ₹62–66 | ₹22.98 crore | Tomorrow, 5 Nov | ~1.33x (end of Day 3) |
Vedant Poly Fabs: final day, subscribed 1.47x by midday
Vedant Poly Fabs, which opened on 2 November, entered its final day of bidding with demand spread across categories. As of 11:55 AM today, exchange-data trackers showed overall subscription of about 1.47 times — QIBs at 2.50x, retail investors at 1.54x and NIIs at 1.35x. The issue is a book-built NSE SME offer of ₹56.68 crore at a price band of ₹88–94 per share. Bidding closes at 5 PM today, and the final subscription figure will be known this evening.
Antala Industries: one more day to go
Antala Industries, the ₹22.98 crore BSE SME issue, was subscribed about 1.33 times at the end of its third day (3 November), with QIB interest far ahead of the retail portion. The issue closes tomorrow, 5 November, after an extension from its original 2 November close date, with allotment expected on 6 November and listing on 11 November. Read our full Antala Industries IPO deep-dive: price band, dates and review for the complete details.
Listings Today: Carver Roboweld Jumps, Ajwa Projects Flat
Two SME IPOs debuted on the BSE SME platform this morning, with sharply different receptions.
Carver Roboweld lists at ₹90, up 12.5%
Carver Roboweld shares opened at ₹90 on BSE SME, a 12.5% premium to the ₹80 issue price, and climbed further to ₹94.50 by 10:12 AM — about 18% above the issue price. The ₹28.29 crore issue, a fully fresh issue of 35.36 lakh shares in the ₹76–80 band, had been subscribed 25.80 times overall during its 28–30 October bidding window. The company makes welding consumables and supplies welding spare parts and accessories for heavy industry, and plans to use ₹11.99 crore of the proceeds on capital expenditure, mainly welding robots.
Ajwa Projects lists flat at ₹203, then slips 5%
Ajwa Projects, a civil-construction company, listed exactly at its ₹203 fixed issue price — an at-par debut — and then slipped to ₹192.85 by 10:08 AM, down 5% from the listing price. The ₹38.05 crore fixed-price issue (15 lakh fresh shares plus a 3.74 lakh share offer for sale) had been subscribed only 1.12 times, with retail investors booking 1.93 times their portion. M.K. Sons also made its debut today — see our morning GMP roundup for 4 November for the full listing-day preview.
| IPO | Issue Price | Listing Price | Listing Gain | Early Trade |
|---|---|---|---|---|
| Carver Roboweld (BSE SME) | ₹80 | ₹90 | +12.5% | ₹94.50 by 10:12 AM (+18.1% vs issue price) |
| Ajwa Projects (BSE SME) | ₹203 | ₹203 | 0% (flat) | ₹192.85 by 10:08 AM (−5% vs listing price) |
Allotments Tonight: Maxwell, HGS, Johnsoncab, Vectras
The basis of allotment for the four SME IPOs that closed on 3 November is expected to be finalised tonight, with all four scheduled to list on 6 November. These were among the most heavily subscribed issues of the recent SME rush:
| IPO | Price Band | Issue Size | Final Subscription | GMP (unofficial) | Listing |
|---|---|---|---|---|---|
| Maxwell Engineering Solutions (NSE SME) | ₹150–158 | ₹57.64 crore | ~536.9x | ₹80 (+50.6%) | 6 Nov |
| HGS (India) (NSE SME) | ₹114–120 | ₹34.56 crore | ~248.7x | ₹25 (+20.8%) | 6 Nov |
| Johnsoncab Electricals (BSE SME) | ₹190–200 | ₹56.02 crore | ~23.9x | ₹8 (+4.0%) | 6 Nov |
| Vectras Enprocon (BSE SME) | ₹105 | ₹53.05 crore | ~4.3x | Not quoted | 6 Nov |
Maxwell Engineering and HGS (India) are both registered with KFin Technologies as registrar, so allottees can check their status on the registrar's website or on the exchange IPO status pages using their PAN or application number. Grey market premiums are unofficial, market-reported figures and can change quickly — they are not a guarantee of the listing price, as today's flat Ajwa debut showed.
What to Watch Next
- 5 November: Antala Industries closes its IPO; Bombay Coated and Special Steels (mainboard, ₹78–82, subscribed ~63.9x) lists, with an unofficial grey market premium of around ₹7–9.
- 6 November: Maxwell Engineering, HGS (India), Johnsoncab Electricals and Vectras Enprocon all list — the biggest SME listing day of the week.
- Evening today: Vedant Poly Fabs' final subscription figure, and the allotment outcome for the four SME issues above.
FAQs
Which IPOs are open for subscription today, 4 November 2026?
Two SME IPOs are open: Vedant Poly Fabs (closes today, ~1.47x subscribed by midday) and Antala Industries (closes tomorrow, ~1.33x at the end of Day 3).
How did Carver Roboweld list today?
Carver Roboweld listed at ₹90 on BSE SME, a 12.5% premium to its ₹80 issue price, and rose to ₹94.50 in early trade.
How did Ajwa Projects perform on listing?
Ajwa Projects listed flat at its ₹203 issue price and slipped about 5% to ₹192.85 in early trade.
Which IPO allotments are due today?
The basis of allotment for Maxwell Engineering Solutions, HGS (India), Johnsoncab Electricals and Vectras Enprocon is expected tonight; all four list on 6 November.
When does Bombay Coated and Special Steels list?
Bombay Coated and Special Steels, the mainboard IPO subscribed about 63.9 times, is scheduled to list on 5 November.
Conclusion
Today's session underlines the split in the SME market: heavily subscribed issues like Carver Roboweld (25.80x) are still rewarding allottees on debut, while thinly subscribed ones like Ajwa Projects (1.12x) are struggling to hold their issue price. With Vedant Poly Fabs closing this evening, four allotments due tonight and five listings across the next two days, investors should watch the final subscription numbers and the 6 November SME listing rush closely before making fresh applications.
Note: Subscription figures are from exchange-data trackers as of midday on 4 November 2026 and will update through the day. Grey market premiums are unofficial, market-reported figures and are subject to change.