HGS (India) Limited opens its SME IPO on Friday 30 October 2026 and closes on Tuesday 3 November 2026. The price band is Rs 114 to Rs 120 per share and the lot size is 1,200 shares, so one lot at the upper band comes to Rs 1,44,000. The dates and amounts come from our stored IPO record for this issue, run on 30 October 2026 at 12:46 IST.
Key dates
Bidding runs for three working days: Friday 30 October, Monday 2 November and Tuesday 3 November. The dates after the close follow the SEBI rule that an issue lists within three working days of close (circular of 9 August 2023). The full issue record, with the same dates and the subscription section once bidding starts, is on our HGS (India) IPO page.
How we calculated this: the dates, price band, lot size and issue structure come from the TrackLivePrice stored IPO records for HGS (India) Limited. Allotment, refund and listing are the first, second and third working days after the close, skipping weekends and the NSE holiday list in our database, which has no holiday between 4 and 6 November 2026. The minimum amount is the lot size multiplied by the upper price band. Bidding has only just opened, so no subscription figures are shown.
- TBidding closesTue, 3 Nov 2026
- T+1Basis of allotmentWed, 4 Nov 2026
- T+2Refunds and share creditThu, 5 Nov 2026
- T+3Listing and tradingFri, 6 Nov 2026
| Event | Date (2026) | How it is counted |
|---|---|---|
| Bidding opens | Friday 30 October | Issue record |
| Bidding closes | Tuesday 3 November | Issue record |
| Allotment | Wednesday 4 November | First working day after close (T+1) |
| Refund of amounts not allotted | Thursday 5 November | Second working day after close (T+2) |
| Listing, no later than | Friday 6 November | Third working day after close (T+3); proposed listing on NSE Emerge |
Try it: IPO Lot Size and Minimum Investment Calculator lets you pick this issue from our database, enter the number of lots and see the shares and the amount at the upper band. The IPO Listing Date Calculator counts the T+1, T+2 and T+3 dates from any close date.
Price band, lot size and minimum amount
Bids are placed in lots of 1,200 shares. The table shows the minimum amount for one lot at each end of the price band, with the arithmetic printed so you can check it.
Minimum amount for one lot at each end of the price band. Arithmetic on the issue terms from our record; the amount you pay depends on the price and lots you bid.
| Step | Working | Value |
|---|---|---|
| Lot size | IPO record | 1,200 shares |
| Lower price band | IPO record | Rs 114 per share |
| Upper price band | IPO record | Rs 120 per share |
| Amount for one lot at the lower band | 1,200 x 114 | Rs 1,36,800 |
| Amount for one lot at the upper band | 1,200 x 120 | Rs 1,44,000 |
Example figures, not today's rates.
The NSE issue page shows the individual category of this SME issue as bidding for 2 lots, so the minimum bid is larger than one lot. Read the bid size section of the red herring prospectus for the exact minimum and maximum bid.
Issue structure
The issue is a book building offer proposed to be listed on the SME platform of NSE (NSE Emerge), according to the red herring prospectus. It has a fresh issue of up to 23,26,000 equity shares and an offer for sale of up to 5,54,000 equity shares. The issue record also states a market maker portion of 1,45,200 shares and an anchor allocation of 8,13,600 shares. Hem Securities Limited is the lead manager and Kfin Technologies Limited is the registrar, both as stored in our record.
What to check in the prospectus
- Open the red herring prospectus (RHP) from the link in the sources list and find the issue size and the price band in the offer details.
- Find the retail category section and read the minimum bid and the maximum bid stated there.
- Read the objects of the issue to see how the company says it will use the money raised.
- Read the risk factors section in full. This page does not paraphrase the risks, because they are set out in the prospectus itself.
- From 4 November 2026, check allotment with the registrar, Kfin Technologies Limited, using the registrar's own allotment check.
Common mistakes
- Counting the close date as the first working day for allotment. The first working day after the close is 4 November 2026.
- Reading the minimum amount as the amount you will pay. The amount depends on the price you bid and the number of lots you enter.
- Using dates from another issue or another site. Count the working days from the close date in this issue's record and the RHP.
