Announcement
Maxwell Engineering Solutions Limited, a precision engineering company, announced on October 29, 2026 in New Delhi that its Initial Public Offering will open on Friday, October 30, 2026 and close on Tuesday, November 3, 2026. The shares are proposed to be listed on NSE Emerge. Anchor investor bidding was completed on October 29, 2026.
Issue Details
The issue is a book‑building fresh issue of up to 3,648,000 equity shares, each with a face value of ₹10. The price band is fixed at ₹150 to ₹158 per share. The minimum lot size is 800 shares, with multiples thereof. JDA Capital Services Limited (formerly Beeline Broking Limited) is the Book Running Lead Manager, and KFin Technologies Limited is the Registrar to the Issue.
Business Overview
Maxwell operates in three segments – manufacturing, services and trading – and specializes in precision‑engineered components for underwater pelletizing systems, including pelletizing die plates, blades/knives, blade holders, tapped driving bushes and other spare parts. The company also offers refurbishment, repair and white‑label manufacturing solutions. Its manufacturing facility is located at Waghodia GIDC, Vadodara, Gujarat. The firm is ISO 9001:2015 certified. Exports accounted for 84.34% of revenue for the period ended July 31, 2026.
Financial Highlights (Period ended July 31, 2026)
- Revenue from operations: ₹1,187.51 lakh
- EBITDA: ₹428.75 lakh
- Profit after tax: ₹305.21 lakh
Use of Proceeds
The proceeds will be used to:
1. Finance capital expenditure for purchase of new machineries, laboratory equipment and other utilities for the manufacturing facility.
2. Finance capital expenditure for construction of a new office building and manufacturing facility.
3. Repay or pre‑pay, in whole or part, certain outstanding borrowings.
4. Fund working‑capital requirements.
5. General corporate purposes.
Management Commentary
The management stated that the IPO launch is a milestone, and the proposed investments in advanced machinery, manufacturing infrastructure and working capital are intended to strengthen operational capabilities and support the next phase of development, with continued focus on engineering precision, product quality, customer relationships and sustainable growth.