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The BSE, founded in 1875, is Asia's oldest stock exchange — it started under a banyan tree on Dalal Street, where the bronze bull stands today.
History
The BSE, founded in 1875, is Asia's oldest stock exchange — it started under a banyan tree on Dalal Street, where the bronze bull stands today.
The BSE, founded in 1875, is Asia's oldest stock exchange — it started under a banyan tree on Dalal Street, where the bronze bull stands today.
The official pipeline joined with grey-market premium — and unlike everyone else quoting GMP, we score ours against actual listings, in public, below.
| IPO | Board | Status | Issue window | Price band | Min. invest | Subscribed | GMP | Implied pop |
|---|---|---|---|---|---|---|---|---|
| Vedant Poly Fabs | SME | Lists today | 2–4 Nov | ₹88–94 | ₹2,25,600 | 1.85× | — | — |
| Maxwell Engineering Solutions | SME | Lists 6 Nov | 30 Oct – 3 Nov | ₹150–158 | ₹2,52,800 | 491× | — | — |
| HGS (India) | SME | Lists 6 Nov | 30 Oct – 3 Nov | ₹114–120 | ₹2,88,000 | 231× | — | — |
| M. K. Sons Fine Jewels | Mainboard | Lists 4 Nov | 28–30 Oct | ₹153–162 | ₹14,742 | 2.90× | — | — |
GMP is an unofficial, unregulated indication and can change fast — an implied pop is not a listing price. Issues whose bidding closed more than 10 days ago drop off this list.
The tracker logs the final GMP for every IPO the day before listing, then scores it against the actual debut — 47 calls scored so far, in public. 22 listings with a flat GMP (within ±1%) made no directional call and are left out of the hit rate.
| IPO | GMP implied | Actual pop | Assessment |
|---|---|---|---|
| Eventions | 0.0% | -5.9% | Flat GMP — no call |
| Vishal Nirmiti | +15.9% | -2.3% | Direction ✗ |
| Nityas Gems and Jewellery | +6.7% | +6.7% | Direction ✓, close |
| Green Asia Impex | 0.0% | -1.1% | Flat GMP — no call |
| Papadmalji Agro Foods | 0.0% | +0.4% | Flat GMP — no call |
| Srit India | +36.9% | +13.8% | Direction ✓, overshot |
| Shah Investor's Home | +9.0% | +2.4% | Direction ✓, overshot |
| Himalayan Solar | 0.0% | -17.5% | Flat GMP — no call |
| Group | IPOs | Median listing gain | Listed above issue | Median at ~3 months |
|---|---|---|---|---|
| 0–10% | 35 | 0.0% | 43% | +11.3% |
| 10–25% | 13 | +12.3% | 69% | — |
| 25–50% | 16 | +39.7% | 94% | — |
| 50%+ | 5 | +77.1% | 100% | — |
| Group | IPOs | Median listing gain | Listed above issue | Median at ~3 months |
|---|---|---|---|---|
| 1–10× | 8 | +3.1% | 75% | — |
How past IPOs in this tracker actually listed, grouped by where their GMP (or subscription) ended up. It describes what happened across a small sample — individual listings vary widely, and nothing here predicts the next one. Subscription groups appear as the day-by-day record accrues.
Of the 85 IPOs followed after listing, 38 now trade below their issue price and 55 below their listing-day close. The median move since the listing-day close is -4.5% against +5.4% for the Nifty over the same spans.
| IPO | Listed | Listing day | ~1 month | ~3 months | ~6 months | Now vs issue | Nifty, same span |
|---|---|---|---|---|---|---|---|
| Bombay Coated and Special Steels | 2026-11-05 | +11.0% | — | — | — | +15.6% | 0.0% |
| BLS Polymers | 2026-11-03 | +65.3% | — | — | — | +66.8% | +3.0% |
| SFC Environmental Technologies | 2026-11-03 | +7.6% | — | — | — | +24.8% | +3.0% |
| EAAA India Alternatives | 2026-11-02 | +0.6% | — | — | — | +2.1% | +4.7% |
| Tonbo Imaging India | 2026-10-23 | +65.7% | — | — | — | +118.6% | +8.6% |
| Bonfiglioli Transmissions | 2026-10-23 | 0.0% | — | — | — | +15.1% | +8.6% |
| Zetwerk Manufacturing Businesses | 2026-10-23 | +5.5% | — | — | — | +10.4% | +8.6% |
| Sahajanand Medical Technologies | 2026-10-23 | +7.9% | — | — | — | +41.8% | +8.6% |
| Ravita Engineering Services | 2026-10-22 | — | — | — | — | — | +8.2% |
| Fusion CX | 2026-10-22 | +5.5% | — | — | — | -3.7% | +8.2% |
| HD Fire Protect | 2026-10-21 | +23.6% | — | — | — | -1.0% | +7.6% |
| Vaibhav Vyapaar | 2026-10-21 | — | — | — | — | — | +7.6% |
| R.K. Fashion Accessories | 2026-10-12 | — | — | — | — | — | +9.7% |
| Nityas Gems and Jewellery | 2026-10-08 | +6.7% | — | — | — | -11.6% | +10.4% |
| Vishal Nirmiti | 2026-10-08 | -2.3% | — | — | — | -50.1% | +10.4% |
Returns are closing prices vs the issue price; a window shows “—” until that many sessions have traded. Past performance of other IPOs says nothing certain about any future listing.
IPO GMP is the unofficial premium at which an IPO's shares change hands in the grey market before they list on the exchange. It reflects sentiment, not a guaranteed listing price — it is unregulated and moves hourly.
Not reliably enough to treat as a promise. Trade Edge AI freezes each IPO's final GMP the day before listing and scores it publicly against the actual debut, so the IPO center shows how often GMP called the direction right and by how much it missed.
Listing gain is the move from the IPO's issue price to the price at which the stock first trades on listing day. It is the number GMP is trying to predict.
Mainboard IPOs list on the main segments of NSE and BSE and are usually larger issues. SME IPOs list on the NSE Emerge or BSE SME platforms for smaller companies, typically with higher minimum application sizes and lower liquidity.
For education and information only — not investment advice, not a recommendation or solicitation to buy or sell any security, and not personalised to your circumstances. Trade Edge AI is not a SEBI-registered Investment Adviser or Research Analyst. Data may be delayed or inaccurate and is provided as-is; verify independently and consult a SEBI-registered adviser before investing. Investments carry market risk.