Figures last updated 3 Nov 2026, 12:00 AM IST · How we work · Report an error

HGS (India) Limited

SME IPOOpenCloses todaySeismic Industry / Energy and Geoscience Sector

Price band₹114 – ₹120per share · face value ₹10

Minimum investment₹1,36,8001 lot · 1200 shares at lower band

IPO dates30 Oct – 3 NovCloses today, 5:00 PM

GMP UNOFFICIAL₹30▲ +25.00%Est. listing price ₹150Subscription PUBLIC20.96xStrongDay 2 so far · as of 6:30 PM, 2 Nov 2026

IPO subscription

Bids received ÷ shares offered. 1.00x means the category is fully subscribed.

PUBLIC SOURCES

Total subscription20.96xStrong demand

Last updated: 6:30 PM, 2 Nov 2026
Bidding is still open. Exchange snapshot, not a live feed.

QIB50% of issue

4.88x

NII15% of issue

31.56x

S-HNIBids ₹2–10 lakh

27.71x

B-HNIBids above ₹10 lakh

33.54x

Retail35% of issue

25.56x

What are S-HNI and B-HNI?

S-HNI (small HNI) is an investor whose bid is above ₹2 lakh and up to ₹10 lakh.
B-HNI (big HNI) is an investor whose bid is above ₹10 lakh, often a wealthy individual, a family office or a company.
Together they are the NII category. SEBI reserves one third of the NII portion for S-HNI and two thirds for B-HNI, so each has its own subscription figure.
Reading them separately shows who is driving the NII number, because the two can move very differently.

HGS (India) Limited subscription status today

20.96xoverallStrong demand

QIB: 4.88x
NII: 31.56x
S-HNI: 27.71x
B-HNI: 33.54x
Retail: 25.56x

Day 1 1.16x Day 2 20.96x

Updated 6:30 PM, 2 Nov 2026 IST. Bidding is still open, so these will keep changing.

HGS (India) IPO is subscribed 20.96x overall: QIB 4.88x, NII 31.56x (small HNI 27.71x, big HNI 33.54x), retail 25.56x (as of 6:30 PM, 2 Nov 2026 IST). That is strong demand. Total subscription was 1.16x at the end of day 1 and 20.96x at the end of day 2. Bidding is still open, so the figures will keep changing.

Bars share one scale, 0 to 40x. The white tick marks 1x (fully subscribed). Figures are exchange snapshots published during bidding, not a live feed.

For this IPO · filled from its figures

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Allotment probability calculator, started from this IPO's live subscription. Change the figures to try another level.

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Day-wise subscription

Cumulative subscription at the end of each bidding day

PUBLIC SOURCES

Cumulative subscription by day and category
Day	QIB	NII	S-HNI	B-HNI	Retail	Total
Day 1 · 30 Oct	1.77x	1.24x	0.10x	1.83x	0.25x	1.16x
Day 2 · 2 NovLatest	4.88x	31.56x	27.71x	33.54x	25.56x	20.96x

Day 2 is still open. Final figures are published after bidding closes.

Total subscription by day

Times subscribed (x)

How past SME IPOs listed

Our archive has no SME subscription figures, so this covers every SME IPO in it

INVESTORTRACK ANALYSIS

Past IPOs in this group: 448
Opened above issue price: 59%
Median opening gain: +2.25%
Middle half of IPOs: −1.95% to +17.65%

Of 448 SME IPOs in our archive (listed 2025 to date), 59% opened above the issue price and 31% below. The median opening gain was +2.25%, and the middle half ranged from −1.95% to +17.65%.

This describes how past issues opened, not what this IPO will do: one issue can land far outside the range, the opening price says nothing about what happens afterwards, and past results are not a forecast.

Calculated from the past IPOs archive: opening price on listing day against the issue price, for the IPOs where both are known. See how we work.

Learn to read subscription

What the numbers do and do not tell you.

All 12 guides →

How to read IPO subscription numbers7 min read IPO investor categories: retail, S-HNI, B-HNI and QIB7 min read How the IPO allotment lottery works8 min read

More tools for this IPO

GMP profit calculatorGMP ₹30 per share, turned into rupees for your lots.Application amountHow much a bid blocks, and the most a retail bid can hold.

Next tabAllotment · expected 4 Nov

Frequently asked questions

What is the HGS (India) IPO subscription status?

How much is the retail portion of HGS (India) IPO subscribed?

Retail investors have subscribed 25.56x, against 35% of the issue reserved for them.

What are S-HNI and B-HNI in IPO subscription?

S-HNI (small HNI) is an investor whose bid is above ₹2 lakh and up to ₹10 lakh. B-HNI (big HNI) is an investor whose bid is above ₹10 lakh, often a wealthy individual, a family office or a company. Together they are the NII category. SEBI reserves one third of the NII portion for S-HNI and two thirds for B-HNI, so each has its own subscription figure. Reading them separately shows who is driving the NII number, because the two can move very differently.

When does HGS (India) IPO open, close and list?

HGS (India) IPO opens on 30 Oct 2026, closes on 3 Nov 2026 and lists on 6 Nov 2026. Allotment is expected on 4 Nov 2026.

What does subscription mean?

Subscription is the number of shares bid for divided by the number of shares offered. 1.00x means the category is fully subscribed; above 1x means there were more bids than shares.