Divya Agarwal
New Delhi [India], October 29: Maxwell Engineering Solutions Limited (“Maxwell” or “the Company”), a precision engineering company engaged in the manufacturing, trading and servicing of critical components for underwater pelletizing systems, announces the opening of its Initial Public Offering (IPO) on Friday, October 30, 2026. The issue is scheduled to close on Tuesday, November 3, 2026, with the Company’s equity shares proposed to be listed on NSE Emerge. Anchor Investor bidding was completed on Thursday, October 29, 2026.
The IPO comprises a fresh issue of up to 36,48,000 equity shares with a face value of ₹10 each. The price band is fixed at ₹150 to ₹158 per equity share with a lot size of 800 equity shares and multiples thereof.
JDA Capital Services Limited (formerly known as Beeline Broking Limited) is the Book Running Lead Manager to the issue, while KFin Technologies Limited is the Registrar to the Issue.
Maxwell Engineering Solutions Limited operates across three business segments—manufacturing, services and trading—specialising in precision-engineered components for underwater pelletizing systems. Its product portfolio includes pelletizing die plates, pelletizing blades/ knives, blade holders, tapped driving bushes and other spare components. The Company also provides refurbishment, repair and customised white-label manufacturing solutions.
Operating from its manufacturing facility at Waghodia GIDC, Vadodara, Gujarat, Maxwell serves domestic and international markets, with exports contributing 84.34% of revenue from operations for the period ended July 31, 2026.
Maxwell has developed specialised manufacturing capabilities to address the requirements of customers operating in the underwater pelletizing industry. The Company’s operations are supported by precision engineering equipment, including VMC, CNC, milling, EDM, wire-cutting, lathe and surface-grinding machinery.
For the period ended July 31, 2026, the Company reported revenue from operations of ₹1,187.51lakh, EBITDA of ₹428.75 lakh and profit after tax of ₹305.21 lakh.
Management Commentary
“The launch of our IPO represents an important milestone in Maxwell Engineering Solutions Limited’s journey. Since our inception, we have focused on building specialised engineering capabilities, delivering customised solutions and establishing relationships with customers across domestic and international markets.
Our proposed investment in advanced machinery, manufacturing infrastructure and working capital is intended to strengthen our operational capabilities and support the next phase of our development. As we move forward, our focus will remain on engineering precision, product quality, customer relationships and sustainable business growth.”
Object Of the Issue:
- Financing the capital expenditure requirement towards Purchase of New Machineries, Lab Equipment & Other utilities for our Manufacturing Facility
- Financing the capital expenditure requirement for construction of New Office Building and Manufacturing facility
- Repayment / prepayment, in full or part, of certain outstanding borrowings availed by our Company
- Funding working capital requirements of our Company
- General Corporate Purposes
IPO Highlights
- Issue Size: Up to 36,48,000 Equity Shares
- Fresh Issue Size: Up to 36,48,000 Equity Shares
- Price Band: ₹150-158 per Equity Share
- Face Value – ₹ 10
- Issue Type: Book Building Issue
- Lot Size: 800 Shares
- Listing: NSE Emerge
- Issue Opens: October 30, 2026
- Issue Closes: November 3, 2026
About Maxwell Engineering Solutions Limited
Maxwell Engineering Solutions Limited is a precision engineering company engaged in manufacturing, trading and servicing critical components for underwater pelletizing systems. Established in 2022 under the Maxwell brand, the Company offers a specialised portfolio of pelletizing die plates, blades and knives, blade holders, tapped driving bushes and associated spare components.
“The Company provides customized and white-label manufacturing solutions, enabling institutional customers to market precision components under their own brand names. Additionally, under its services segment, the Company offers refurbishment of used die plates and acts as an intermediary for the marketing and supply of CJTEK components
The Company is ISO 9001:2015 certified for the manufacturing and supply of die plates/heads, pelletizing blades/knives, blade holders and tapped driving bushes.
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