NSE SME Maxwell Engineering Solutions makes a grand entry
The counter hit a high of Rs 315.20 and a low of Rs 286.35. About 20.64 lakh shares changed hands on the NSE.
Maxwell Engineering Solutions' IPO was subscribed 491.38 times. The IPO opened for subscription on 30 October 2026 and closed on 3 November 2026. The price band was Rs 150-158 per share.
The IPO comprised entirely a fresh issue of 36.48 lakh equity shares aggregating to approximately Rs 57.64 crore.
The promoter and promoter group shareholding declined to 71.36% after the IPO from 97.26% before the issue.
The company plans to utilise Rs 18 crore of the IPO proceeds towards purchasing new machinery, laboratory equipment and other utilities for its manufacturing facility. A further Rs 6.50 crore will be used for the construction of a new office building and manufacturing facility. The company has earmarked Rs 4.30 crore towards repayment or prepayment of certain outstanding borrowings and Rs 14 crore for meeting its working capital requirements. The remaining proceeds will be used for general corporate purposes.
Maxwell Engineering Solutions raised Rs 16.18 crore from anchor investors on 29 October 2026 through the allocation of 10.24 lakh equity shares.
Incorporated in September 2022, Maxwell Engineering Solutions is a precision engineering company engaged in manufacturing, trading and servicing critical components for underwater pelletizing systems. Its product portfolio includes pelletizing die plates, pelletizing blades and knives, blade holders, cutter hubs, tapped driving bushes and other spare parts. These products cater to industries such as polymer compounding, masterbatches, engineering plastics, cable compounds, specialty polymers and plastics recycling.
The company operates through three business segments: manufacturing, services and trading. It also undertakes customised manufacturing based on customer specifications and provides white-label manufacturing services, allowing customers to market products under their own brands. Its service activities include refurbishment and repair of used die plates, marketing and supply support for 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 and Italy. As of 30 September 2026, the company had 71 full-time employees across production, operations, quality and testing, design, sales and marketing, finance and administration.
For FY2026, Maxwell Engineering Solutions reported total income of Rs 30.76 crore, compared with Rs 22.59 crore in FY2025, registering an increase of approximately 36%. Profit after tax (PAT) rose by 29% to Rs 11.86 crore from Rs 9.18 crore in the previous financial year. EBITDA increased to Rs 15.19 crore in FY2026 from Rs 11.69 crore in FY2025.
For the four months ended 31 July 2026, the company reported total income of Rs 12.25 crore and PAT of Rs 3.05 crore. EBITDA stood at Rs 4.29 crore, while total borrowings were Rs 15.77 crore and net worth stood at Rs 27.92 crore.