Maxwell Engineering Solutions IPO

About Maxwell Engineering Solutions IPO

Maxwell Engineering Solutions IPO, an SME IPO, opens on Friday, October 30, 2026 and closes on Tuesday, November 3, 2026. The allotment of shares will take place on Wednesday, November 4, 2026. The listing of shares will take place on Friday, November 6, 2026 on the BSE SME platform.

Maxwell Engineering Solutions IPO's price band is set at ₹150 to ₹158 per share. The lot size for an application is 800 shares. The minimum amount of investment required by a retail individual investor is ₹2,52,800 (1,600 shares) (based on upper price). The minimum lot size for investment in HNI is 3 lots (2,400 shares), amounting to ₹3,79,200.

The offer consists of a fresh issue component. The fresh issue will include 0.36 core shares of ₹57.64 crore.

The company is a precision engineering company engaged in the business of manufacturing, trading and servicing of critical components for underwater pelletizing systems. It manufactures pelletizing die plates, pelletizing blades/knives, blade holders/cutter hub, tapped driving bush for underwater pelletizing systems and other spare items.

Maxwell Engineering Solutions IPO Objectives

1. Financing the capital expenditure requirement towards purchase of new machineries, lab equipment & other utilities for the company’s manufacturing facility.
2. Financing the capital expenditure requirement for construction of new office building and manufacturing facility.
3. Repayment / prepayment, in full or part, of certain outstanding borrowings availed by the company.
4. Funding working capital requirements of the company.
5. General corporate purposes.

Maxwell Engineering Solutions Anchor Investor Bidding Date

October 29, 2026

About Maxwell Engineering Solutions

Maxwell Engineering Solutions is a precision engineering company engaged in the business of manufacturing, trading and servicing of critical components for underwater pelletizing systems. It manufactures pelletizing die plates, pelletizing blades/knives, blade holders/cutter hub, tapped driving bush for underwater pelletizing systems and other spare items. The company also undertakes customized manufacturing based on customer specifications and offers its products on a white-label basis, enabling customers to market such products under their own brands while leveraging its manufacturing expertise. The company also outsources works requiring heat treatment, hardening, coating wherever required as it doesn’t have the in-house facilities and to keep its manufacturing process clean, non-polluting with zero emissions. The company also offers services, including refurbishing & repair services, intermediary support & management consulting. Its refurbishment services for used die plates help customers significantly reduce costs while improving product efficiency. Additionally, it acts as an intermediary between CJTEK and third parties for the marketing and supply of CJTEK components. The company also provides management consulting services for identifying and developing new customer relationships. It also represents CJTEK in exhibitions and markets its product. It also undertakes selective trading of complementary components such as blades/knives, driving bushes, blade holders and related items to meet customer requirements and provide comprehensive solutions.

Strengths

1. Experienced promoters and management team.
2. Existing client relationship.
3. Quality service.
4. Well established systems and procedures.
5. Revenue from multiple geographies.

Risks

1. The company is primarily dependent upon a few key suppliers for procurement of raw materials & other items.
2. A significant portion of the company’s raw material requirement, particularly Carbide and Brazing Filler, is met through imports.
3. The company is subject to export obligations under the EPCG Scheme.
4. It is exposed to foreign exchange fluctuation risks due to its significant export operations and procurement of certain raw materials and traded components from overseas markets.
5. The company’s business is working capital intensive and its working capital requirements have increased significantly over the last three fiscals.

Business Model

The company generates revenue as a precision engineering company engaged in the business of manufacturing, trading and servicing of critical components for underwater pelletizing systems.

Growth Trajectory

Maxwell Engineering Solutions ' Total Income for FY 26 was ₹30.76 crore, whereas in FY25 and FY 24 it was ₹22.59 crore and ₹10.86 crore, respectively.

The Profit After Tax for FY 26 was ₹11.86 crore, whereas in FY 25 and FY 24 it was ₹9.17 crore and ₹3.16 crore, respectively.

Their EBITDA for FY 26 was ₹15.19 crore, whereas in FY 25 and FY 24 it was ₹11.69 crore and ₹4.25 crore, respectively.

Market Position

The company has expanded globally, serving the customers spread over the countries like the USA, Germany, Netherland, Israel, Saudi Arabia, Oman, Indonesia, Japan, Luxembourg, Vietnam, Italy, Switzerland, Austria, South Africa, Australia, Thailand, etc. As of 31 March 2026, the company's Total Income, Profit After Tax, and EBITDA were ₹30.76 crore, ₹11.86 crore, and ₹15.19 crore, respectively. Industry Outlook

Manufacturing is emerging as a central pillar of India’s economic growth, contributing around 16-17% of GDP and employing over 27 million workers. The sector’s strength lies in the performance of key industries such as automotive, engineering, chemicals, pharmaceuticals, consumer durables, electronics, and textiles. Supported by government initiatives like Make in India and production-linked incentive (PLI) schemes, India is targeting manufacturing to account for 25% of GDP in the coming years. India’s Capital Goods manufacturing industry serves as a strong base for its engagement across sectors such as Engineering, Construction, Infrastructure and Consumer goods, amongst others.

Maxwell Engineering Solutions IPO Registrar Details & Book Managers

Registrar Details
Kfin Technologies Ltd.
Phone: 040-79615565
Email: maxwell.ipo@kfintech.com

Book Running Lead Manager
JDA Capital Services Ltd.

Company Contact Details

Plot 939 & 940, Waghodia GIDC, Vaghodia, Vadodara, Gujarat, 391760
Phone: 96385 42674
Email: cs@maxwells.in

How to Apply for Maxwell Engineering Solutions IPO?

1. Log in to your Kotak Neo account on the app/web and go to the "IPO" section.
2. Select the IPO to review details such as the price band and issue size.
3. Tap "Apply for IPO", select your category, and enter lots and bid price or choose the cut-off option.
4. Enter your valid UPI ID or choose ASBA to block funds in your linked bank account.
5. Submit the application and approve the mandate request sent to your UPI app to block funds.