
Capital Goods · NSE
Maxwell Engineering Solutions Limited, incorporated in September 2022, 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 used in polymer compounding, masterbatches, engineering plastics, cable compounds, specialty polymers and plastics recycling industries. The company also offers customised manufacturing based on customer specifications and white-label manufacturing services, allowing customers to sell products under their own brands. Its business operates across three segments: manufacturing, services and trading. In July 2025, the company commenced operations at its company-owned manufacturing facility in Waghodia GIDC, Vadodara, Gujarat, gradually shifting production 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, while specialised processes such as heat treatment, hardening and coating are outsourced to job workers. The company also provides refurbishment and repair services for used die plates, facilitates the marketing and supply of CJTEK components, and offers management consulting services to support customer relationship development. Maxwell Engineering Solutions serves customers across India and international markets, including the USA, Germany, the Netherlands, Israel, Saudi Arabia, Japan, Australia and Italy, among others. 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.
Price Band
₹150 – ₹158
Issue Size
₹57.64 Cr
Lot Size
800 shares
GMP
+37.3%
Est. Listing
₹217
at current GMP
Subscribed
5.00x
overall
Open
30 Oct 2026
Close
3 Nov 2026
Allotment
4 Nov 2026
Refund
5 Nov 2026
Demat Credit
6 Nov 2026
Listing
6 Nov 2026
Designated Registrar: Kfin Technologies Limited
Allotment Date
4 Nov 2026
Basis finalization
Refunds Initiate
5 Nov 2026
Mandate release
Demat Credit
6 Nov 2026
Shares in demat
Listing Debut
6 Nov 2026
Trading begins
Maxwell Engineering Solutions Limited is bringing an initial public offering (IPO) in the Capital Goods sector with an aggregate issue size of ₹57.64 Crores. The shares are offered at a price band of ₹150 to ₹158 per equity share on NSE. Currently, grey market participants and retail investors are watching the bidding trend, premium movement, and anchor book demand with keen interest.
Prospective investors can apply in the retail quota with a minimum of 1 lot comprising 800 shares (approx. ₹1,26,400 minimum investment). High net-worth individuals (HNI/NII) can bid in the sHNI (₹2 Lakh to ₹10 Lakh) or bHNI (above ₹10 Lakh) categories for enhanced quota allocation.
Allotment reconciliation will be managed by Kfin Technologies Limited. Eligible allottees will receive credit of equity shares into their Demat accounts by 2026-11-06, while un-allotted funds or UPI block mandates will be released on 2026-11-05.
Allotment records are updated in batches. If the status is not yet available, please wait a few hours until the basis of allotment is fully finalized.
Since funds are blocked under ASBA/UPI, the bank will automatically release the blocked hold on your funds upon receipt of revocation instructions from the sponsor bank.