Maxwell Engineering Solutions Ltd IPO
IPO Timeline
Category-wise Subscription
| Category | Sub (x) | Offered | Bid For | Amt (Cr)* |
|---|---|---|---|---|
| QIB | 🔥 104.51x | 1,707,200 | 178,413,600 | ₹27 Cr |
| NII (HNI) | 🔥 856.06x | 518,400 | 443,783,200 | ₹8 Cr |
| Retail | 🔥 546.87x | 1,200,000 | 656,243,200 | ₹19 Cr |
| Market Maker | — | 222,400 | — | ₹4 Cr |
| Σ Total | 🔥 373.20x | 3,425,600 | 1,278,440,000 | ₹54 Cr |
Only available investor categories are shown. Amount is auto-calculated when shares offered and issue price are available.
Issue Details
Minimum Investment (Lot-wise)
| Category | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 1 | 800 | ₹126,400 |
| Retail (Max) | 13 | 10,400 | ₹1,643,200 |
| S-HNI (Min) | 14 | 11,200 | ₹1,769,600 |
| B-HNI (Min) | 67 | 53,600 | ₹8,468,800 |
Financial Statements Amount in ₹ Crore
| Metric | 31 Jul 2026 | 31 Mar 2026 | 31 Mar 2025 |
|---|---|---|---|
| Revenue | 12 | 31 | 23 |
| EBITDA | 4 | 15 | 12 |
| Profit After Tax | 3 | 12 | 9 |
| Net Worth | 28 | 25 | 13 |
| Total Assets | 52 | 48 | 25 |
| Reserves & Surplus | 18 | 15 | 10 |
| Total Borrowing | 16 | 17 | 9 |
Valuation & Key Ratios
Grey Market Premium (GMP)
GMP is an unofficial grey market indicator and does not guarantee actual listing price. Invest at your own risk.
Objects of the Issue
- Financing the capital expenditure requirement towards Purchase of New Machineries, Lab Equipment & Other utilities for Manufacturing Facility – 18.00
- Financing the capital expenditure requirement for construction of New Office Building and Manufacturing facility – 6.50
- Repayment / prepayment, in full or part, of certain outstanding borrowings availed by Company – 4.30
- Funding working capital requirements of Company – 14.00
- General Corporate Purposes –
Company Overview
Incorporated in September 2022, Maxwell Engineering Solutions Limited is a precision engineering company engaged in the manufacturing, trading and servicing of critical components for underwater pelletizing systems. The Company manufactures a range of components for underwater pelletizing systems, including pelletizing die plates, pelletizing blades and knives, blade holders, cutter hubs, tapped driving bushes and other spare parts. Its products cater to polymer compounding, masterbatches, engineering plastics, cable compounds, specialty polymers and plastics recycling industries. The Company also undertakes customised manufacturing based on customer specifications and offers white-label manufacturing, enabling customers to market products under their own brands. Its business operates through three segments: manufacturing, services and trading.
The Company commenced operations at its company-owned manufacturing facility at Waghodia GIDC, Vadodara, Gujarat, in July 2025 and has progressively transitioned manufacturing activities from its earlier leased facility in Makarpura, Vadodara. Its manufacturing infrastructure includes precision machining and testing equipment such as VMC, CNC, milling, EDM, wire-cut, lathe and surface-grinding machines. Certain specialised processes, including heat treatment, hardening and coating, are outsourced to job workers. The Company also provides refurbishment and repair services for used die plates, intermediary support for the marketing and supply of CJTEK components, and management consulting services for developing customer relationships.
The Company serves customers across India and international markets, including the USA, Germany, the Netherlands, Israel, Saudi Arabia, Japan, Australia, Italy and other countries. It holds ISO 9001:2015 certification for manufacturing and supplying pelletizing system components and received ZED Bronze Certification under the MSME Sustainable Certification Scheme in November 2025. Its operations are supported by an experienced promoter and management team, technical personnel and dedicated sales and marketing capabilities.
As of September 30, 2026, the Company had 71 full-time employees, excluding Directors, across production and operations, quality and testing, design, sales and marketing, finance, administration and other functions.
Competitive Strengths
- Diversified Business Segments.
- Quality Standards and Certifications.
- International Market Presence.
- Customised and White-Label Manufacturing.
- In-House Manufacturing and R&D Capabilities.
- Specialised Product Portfolio.
- Established Customer Relationships.