Oil & Gas Services - Listed on 06 November 2026
HGS (India) (Oil & Gas Services) closed its IPO window in 2026 and listed on NSE and BSE on 06 November 2026 at an upper band issue price of Rs 120, opening at Rs 160 for a listing gain of +33.3% and closing day one at Rs 168 (+40.0% on closing basis). The IPO was subscribed 247.30x overall - QIB -, HNI/NII -, Retail -. The total issue size was Rs 34.56 Cr (Fresh Issue Rs 27.91 Cr, OFS Rs 6.65 Cr). IPO GMP data, subscription trends across Day 1 - Day 3 and Nifty performance around the listing window are detailed below.
Oil & Gas Services
HGS (India) operates in the Oil & Gas Services space. The company’s listed profile is shaped by its operating niche, customer demand and ability to convert that demand into steady cash flows. Investors should read its exchange filings alongside the headline listing numbers for a fuller view of the business.
Issue structure, listing outcome and context
The HGS (India) issue was offered at an upper price of Rs 120 and raised approximately Rs 34.56 crore. The final outcome reflected a mix of subscription demand, valuation, market conditions and the company’s own operating story. Fresh issue and offer-for-sale details, where available, are shown in the issue metrics below.
Number of times each investor category subscribed by close of Day 3.
How overall subscription built up across the three-day issue window.
Grey market premium (GMP) tracked day-by-day across the IPO window. Absolute GMP is the premium in rupees over the upper issue price; GMP % is that premium as a percent of the issue price.
| Day | GMP (Rs) | GMP % |
|---|---|---|
| Day 1 | - | - |
| Day 2 | - | - |
| Day 3 | Rs 27 | +22.50% |
| Day 4 | - | - |
| Day 5 | - | - |
Comparison between market-based GMP prediction and IPOGyani's AI-powered listing gain prediction.
Prediction Accuracy: 33.3 pp (Variance observed)
How the broader market moved around the HGS (India) IPO window. Helpful for isolating how much of the listing gain came from company fundamentals vs. market tailwind.
HGS (India) IPO listed at +33.3% versus the upper issue price of Rs 120 on 06 November 2026.
HGS (India) IPO was subscribed 247.30x overall. QIB portion was subscribed -, HNI / NII - and Retail -.
IPO GMP started at - on Day 1 and moved to Rs 27 by the close of the issue window. See the day-by-day GMP table above for the full trajectory.