Maxwell Engineering Solutions IPO
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Maxwell Engineering Solutions IPO details
Schedule of Maxwell Engineering Solutions
| Issue open date | 30 Oct 2026 |
| Issue close date | 03 Nov 2026 |
| UPI mandate deadline | 03 Nov 2026 (5 PM) |
| Allotment finalization | 04 Nov 2026 |
| Refund initiation | 05 Nov 2026 |
| Share credit | 05 Nov 2026 |
| Listing date | 06 Nov 2026 |
| Mandate end date | 18 Nov 2026 |
| Lock-in end date for anchor investors (50%) | 03 Dec 2026 |
| Lock-in end date for anchor investors (remaining) | 01 Feb 2027 |
Note: The schedule is tentative. The anchor lock-in period ends 30 days after the actual allotment date for 50% of the shares and 90 days after for the remaining portion. The allotment status can be checked on the registrar's website and the exchange website.
About Maxwell Engineering Solutions
Maxwell Engineering Solutions is a precision engineering company engaged in the business of manufacturing, trading, and servicing critical components for underwater pelletizing systems. The company manufactures pelletizing die plates, pelletizing blades and knives, blade holders or cutter hubs, tapped driving bushes, and related spare items. It generates revenue primarily through the sale of these manufactured precision components, selective trading of complementary spare items, and provision of services including used die plate refurbishment and repair, intermediary marketing support, and management consulting. Serving diverse applications across polymer compounding, masterbatches, engineering plastics, cable compounds, specialty polymers, and plastics recycling industries, the company operates an owned manufacturing facility in Vadodara equipped with modern CNC and VMC machinery and testing systems. Additionally, it undertakes customized manufacturing to customer specifications and supplies products on a white-label basis, serving customers across India and over twenty international markets.
Financials of Maxwell Engineering Solutions
Issue size
| Funds Raised in the IPO | Amount (₹ crores) |
| Total issue size | 57.64 |
| Fresh Issue – Proceeds go to the company | 57.64 |
Utilisation of Proceeds
| Purpose | INR crores (%) |
|---|---|
| Purchase of new machineries, lab equipment, and other utilities |
18 (31.23%) |
| Construction of new office building and manufacturing facility | 6.5 (11.28%) |
| Repayment or pre-payment of certain borrowings | 4.3 (7.46%) |
| Funding working capital requirements | 14 (24.29%) |
| General corporate purposes | 14.84 (25.74%) |
Strengths
- Experienced promoters with over 22 years of industry leadership.
- Diversified global customer reach spanning over 20 countries.
- High customer retention through customized engineering and quality service.
- Robust modern manufacturing facility equipped with advanced CNC and VMC machinery.
- In-house R&D capabilities developing specialized, large-format die plates.
Risks
- High supplier concentration with top ten suppliers driving most purchases.
- Absence of long-term supply agreements exposes the business to cost volatility.
- Susceptibility to raw material price fluctuations and supply disruptions.
- Substantial dependence on export markets exposes operations to global risks.
- Capital expenditure execution delays could result in cost and time overruns.