Maxwell Engineering Solutions
GMP
₹105(66.5%)
Price Band
₹150–158
Lot Size
800
shares / lot
Issue Size
₹57.64 Cr
Min. Investment
₹1,26,400
retail, at cut-off
About Company & Issue Objects
Maxwell Engineering Solutions is an Indian emerging enterprise offering public subscription on the NSE. The company is raising ₹57.64 Cr to fund capacity expansion, operational scale, and corporate objectives.
Objects of the Issue
- Funding capital expenditure requirements for business expansion and modern technology infrastructure.
- Funding incremental working capital requirements for operations.
- General corporate purposes and debt reduction to optimize capital structure.
Promoters maintain high operational leadership with post-issue holding complying with SEBI minimum public shareholding norms.
Registered Category-I Merchant Bankers
Financial Performance Track Record
Restated consolidated financial performance (in ₹ Crore):
~23% 2-Yr Revenue CAGR| Financial Metric | FY23 (₹ Cr) | FY24 (₹ Cr) | FY25 (₹ Cr) | YoY Growth |
|---|---|---|---|---|
| Revenue from Operations | ₹66 | ₹81 | ₹100 | +23% |
| EBITDA Margin (%) | 16.8% | 17.9% | 18.5% | +60 bps |
| Profit After Tax (PAT) | ₹6 | ₹9 | ₹13 | +44% |
| Net Worth | ₹57 | ₹71 | ₹88 | +23% |
| Diluted EPS (INR) | ₹8.85 | ₹10.38 | ₹11.80 | +14% |
Investment Moats & Key Risks
- Established market presence with diversified multi-channel customer relationships.
- Strong track record of consistent revenue growth and improving operating margins.
- Robust balance sheet with prudent debt-to-equity leverage ahead of issue.
- Strong institutional anchor interest and backing by Tier-1 merchant bankers.
- SME board liquidity risk with larger minimum trading lot sizes post-listing.
- Client concentration risk with top 5 customers contributing significant portion of revenues.
- Working capital intensity requiring continuous cash flow management.
- Regulatory and environmental compliance requirements impacting operational overhead.
Peer Valuation Matrix
Valuation comparison against listed industry peers (P/E at upper band):
P/E discount vs peer average (31.2x)| Company | P/E Multiple | RoNW (%) | Annual Revenue |
|---|---|---|---|
Maxwell Engineering Solutions Target | 13.39x | 22.4% | ₹104 Cr |
Industry Peer Leader A Ltd | 34.8x | 19.8% | ₹161 Cr |
Enterprise Peer B Ltd | 28.5x | 18.2% | ₹81 Cr |
Sector Benchmark C Ltd | 30.2x | 24.1% | ₹202 Cr |
Subscription Status
Updated 09 Nov, 01:20 am IST
Allotment Odds (Retail)
≈ 1 in 556
0% chance per application
Retail subscribed 556.09×
Expected lots
0.09
Capital needed
₹63,20,000
Apply with for roughly a 90% shot at one lot (beyond the slider range).
Estimate from the retail lottery model (~1 ÷ subscription per application). Actual registrar allotment rounds to whole lots and may differ. Each application must use a distinct PAN.
AI Research & Recommendation
Frequently Asked Questions
Timeline
Issue Opens
30 Oct 2026
Issue Closes
03 Nov 2026
Allotment
04 Nov 2026
Listing
06 Nov 2026
Issue Details
- Issue Size
- ₹57.64 Cr
- Price Band
- ₹150–158
- Lot Size
- 800 shares
- Registrar
- KFintech
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