IPO Listing Gains November 2026: BLS Polymers +65%, EAAA +0.6% & 3 More Compared

IPO · Listing Scorecard

Five mainboard IPOs listed between 2 and 5 November 2026. One more than tripled the market’s listing pop, one barely moved, and the grey market missed the biggest winner by 21 points. Here is the full scorecard, with subscription, GMP, one-lot gains and what is open next.

Updated: Thursday, 5 November 2026, 8:30 PM IST  |  Reading time: 16 min  |  Next update: Friday, 6 November 2026, after the SEBI weekly processing report

In plain words: An IPO is a company’s first sale of shares to the public. “Listing gain” is how far the first trading price is above the issue price. “GMP” is the grey market premium, an unofficial dealer quote and not an exchange price. “Subscription” is how many times the shares on offer were bid for. “OFS” means offer for sale, where existing owners sell and the company receives no money.

Data note: as of Thursday, 5 November 2026, 8:30 PM IST. Issue prices, subscription, GMP and listing prices come from news reports and IPO data pages (Business Standard, BusinessToday, 5paisa, IPO Guru, IPOji, India TV, Plastemart); I have not opened the exchange listing notices or the red herring prospectuses. Listing prices differ by a few rupees between NSE and BSE and between sources, so ranges are shown. Derived numbers are marked “my calculation”.

What are the IPO listing gains in November 2026 so far?

Five mainboard IPOs listed in four sessions, with NSE listing gains of about +65% for BLS Polymers, +11.0% for Bombay Coated, +7.6% for SFC Environmental, +5.6% for M.K. Sons and +0.6% for EAAA India Alternatives.

Cite this table: PositionalCalls, “IPO Listing Gains November 2026: Listing Scorecard, as of 5 November 2026”.

The mean is +18.0%, but BLS Polymers pulls it up; without it the mean is +6.2% (my calculation). The median of +7.6% is the fairer centre. The Jio Platforms listing on 28 October opened 21.4% above its issue price per IPO Guru, as covered in our Jio listing guide, and Paras Healthcare listed about 6% higher the same day, as reported.

EAAA’s subscription varies by report: 5.25 times, 5.51 times and 5.22 times at different timestamps. I show “about 5.5x”. Its details are in our EAAA India Alternatives IPO guide.

How accurate was the IPO GMP vs listing price?

GMP missed the listing gain by 0 to 21 percentage points, with an average miss of about 5 points; it was nearly right for M.K. Sons and Bombay Coated and far too low for BLS Polymers.

Cite this table: PositionalCalls, “IPO Listing Gains November 2026: GMP Versus Listing Price, as of 5 November 2026”.

GMP is an unofficial quote, not an exchange price, and it moves with demand in the final days. In this sample it understated the strongest IPO and overstated the weakest one. It did not rank them wrongly, though: the order from lowest to highest matches the actual order except for M.K. Sons and EAAA, whose GMPs were both within three points. Use GMP as a mood gauge and never as a price promise.

Does a higher IPO subscription mean a higher listing gain?

In the IPO listing gains November 2026 sample, the two issues subscribed over 60 times listed highest, while the three under 10 times listed between +0.6% and +7.6%, but five IPOs are too few to call it a rule.

Cite this table: PositionalCalls, “IPO Listing Gains November 2026: Subscription by Category, as of 5 November 2026”.

Three patterns stand out. First, QIB demand alone did not lift EAAA: institutions bid 13.8 times, but retail bid barely one time and the stock listed flat. Second, M.K. Sons drew 14.12 times from non-institutional bidders yet listed only 5.6% higher, because institutions bid just 1.84 times. Third, the two huge listings had total demand above 60 times. The pattern fits a simple reading of IPO listing gains November 2026: where retail and non-institutional demand were both strong, the listing was strong, and where only institutions showed up the pop was small. Category splits for BLS Polymers and Bombay Coated were not available in the sources I read, though BLS Polymers retail was about 33.6 times and NII about 101.5 times on the morning of the last day.

Does issue structure matter?

EAAA was a 100% offer for sale, so existing shareholders took all the money and the company received none, as reported. Bombay Coated was entirely a fresh issue. Both are one data point each, but structure is a reason to read the prospectus rather than the GMP.

How did each of the five IPOs list? Case notes

The IPO listing gains November 2026 came for different reasons: thin retail demand for EAAA, extreme demand for BLS Polymers, a mid-sized pop for SFC and M.K. Sons, and a strong open for Bombay Coated.

Cite this table: PositionalCalls, “IPO Listing Gains November 2026: Issue Details and Case Notes, as of 5 November 2026”.

What was the BLS Polymers IPO listing price?

The BLS Polymers IPO listing price differs by source. India TV reports a listing price of Rs 244.10 with the stock at Rs 251.75 later, while IPOji shows Rs 248.0 on the NSE. I use “about Rs 248 on the NSE” and “+65%”, and the day-one close of Rs 267.68 (+78.5%, my calculation) is a single report that does not name the exchange. First-day closes for the other four were not found.

How much did one lot gain? Worked examples with allotment odds

On NSE listing prices, one lot gained about Rs 9,800 for BLS Polymers, Rs 1,638 for Bombay Coated, Rs 1,130 for SFC, Rs 819 for M.K. Sons and Rs 95 for EAAA, before tax and costs and only if allotted (my calculations).

Cite this table: PositionalCalls, “IPO Listing Gains November 2026: One-Lot Gain and Allotment Odds, as of 5 November 2026”.

Method: gain per lot is the NSE listing price less the issue price, times the lot size. The odds are a rough 1 divided by the retail subscription multiple, and the expected gain is odds times gain. Real allotment is a lottery among valid applications, and the odds depend on the number of applicants, so use this only to compare issues. The same logic explains why a flat listing with high odds (EAAA) can be worth less than a modest listing with low odds (SFC).

What do IPO listing gains November 2026 mean after tax and costs?

A listing gain is taxable when you sell, and these IPO listing gains November 2026 are no exception: within 12 months it is a short-term capital gain, taxed at 20% under the FY 2026-27 rates in our guide, and charges reduce what you keep.

Cite this table: PositionalCalls, “IPO Listing Gains November 2026: Listing Gain After Tax, as of 5 November 2026”.

Brokerage, securities transaction tax, GST and other charges also apply, so a gain under a few hundred rupees can be eaten by costs. Check your broker’s current charge schedule, and see our capital gains tax on shares guide for the rate, the Rs 1.25 lakh long-term exemption and loss set-off. If you hold, watch lock-in dates: for EAAA, 50% of anchor shares unlock on 28 November 2026 and the rest on 27 January 2027, as reported.

What are the upcoming IPOs November 2026, and which are open?

As of 5 November 2026 no mainboard IPO has announced November dates; Atomberg, Ratnadeep Retail and Punjab Carbonic hold SEBI approval and can launch when they file their final offer documents.

Cite this table: PositionalCalls, “IPO Listing Gains November 2026: Upcoming IPOs November 2026, as of 5 November 2026”.

SEBI approval only clears the draft papers. The company then picks its timing. Bidding dates appear only when the red herring prospectus and price band are filed, so treat any date on a social-media post as unconfirmed until it appears on NSE, BSE or the registrar. See our Muhurat trading 2026 guide for the special session on Sunday, 8 November, and the IPO category for new issues.

What should you check before applying to the next IPO?

Read the issue structure, the use of proceeds, the valuation against listed peers, the anchor book and the risks before looking at GMP.

Cite this table: PositionalCalls, “IPO Listing Gains November 2026: IPO Application Checklist, as of 5 November 2026”.

1. Read the issue structure and objects of the issue in the prospectus.
2. Compare valuation with the listed peers table.
3. Check the retail quota, lot size and minimum amount.
4. Decide your amount and your exit plan before the open.
5. Apply through UPI only with your own handle and registered bank.
6. Verify allotment on the registrar or exchange, not a forwarded link.

How does listing day trading start?

On listing day the exchanges run a special pre-open session from 9:00 AM to 9:45 AM to set the listing price, and normal trading starts at 10:00 AM, as reported by IPO data pages. The price you see at 10:00 AM can differ from the listing price, so a limit order is safer than a market order if you plan to sell on day one. The gains in this scorecard are the listing prices, not what you would have received at the close.

What do most people miss about IPO listing gains November 2026?

Most miss that listing gains are uneven, that odds and costs shrink the real result, and that a few huge listings lift the average.

• Compare issues using the median and the odds, not one headline.
• Read the structure (fresh issue or OFS) before bidding.
• Treat GMP as a mood gauge.
• Check tax and charges before counting the gain.
• Verify allotment only on the registrar or exchange.

What it costs and what to avoid

You need a demat account, a UPI-linked bank account and money blocked for the bid. Applying is free; selling carries brokerage, statutory charges and tax, so check your broker’s current charges. NRIs should see our NRI investment guide for account and limit rules. A monthly SIP in a diversified fund does not depend on a listing day, which is a safer alternative for money you cannot afford to lock up.

Analyst’s note

Part of the IPO series.

FAQs on IPO listing gains November 2026

Sources

• SEBI: IPO and offer document filings
• Chittorgarh: IPO calendar, November 2026 (data page)
• Business Standard, BusinessToday, 5paisa, IPO Guru, IPOji, India TV, Plastemart and Zerodha IPO pages, 29 October to 5 November 2026 (secondary; not linked)

Editorial disclosure. PositionalCalls.com is not a SEBI-registered research analyst or investment adviser. Investments in securities markets are subject to market risks. Read all related documents carefully before investing. Returns are never guaranteed. This page is educational, is independent and was written by Shubham Chaudhary, founder of PositionalCalls. It publishes no subscribe, avoid, rating or target calls. How I researched this: I compared reports of five IPO listings with subscription and GMP data, recomputed every derived number and labelled conflicting figures. Corrections are published in the Data note.