Get ready for an electrifying market debut as Maxvolt Energy Industries Limited, a lithium-ion battery manufacturer, launches its ₹54 crore IPO. Opening from February 12-14, 2025, this mixed offering combines a fresh issue worth ₹43.20 crores with a ₹10.80 crore offer for sale, totaling 30 lakh shares. The company is charging up for its listing on the NSE SME platform on February 19, positioning itself at the forefront of India's growing energy sector.
For investors looking to power their portfolios, Maxvolt has set an attractive price band of ₹171-180 per share, with a lot size of 800 shares. Retail investors can hop on board with a minimum investment of ₹136,800 per lot, while HNIs need to commit to at least two lots at ₹288,000. With share allotment scheduled for February 17, this IPO offers a unique opportunity to invest in India's expanding battery manufacturing landscape.
Maxvolt Energy Industries Limited IPO is a fundraise worth ₹54 crores comprising a fresh issue and an offer for sale with 152,000 shares reserved for the market maker Rikhav Securities Limited. Qualified Institutional Buyers are being offered not more than 50% of the net issue, retail investors are being offered not less than 35% of the net issue and Non-Institutional Investors (NIIs) / High Net-worth Individuals (HNIs) are being offered not less than 15% of the net issue. The IPO will be available for subscription from February 12, 2025, to February 14, 2025, providing an opportunity for investors looking to gain a stake in the energy sector.
| Maxvolt Energy Industries IPO date | February 12, 2025 - February 14, 2025 |
| Price band / Fixed price | ₹171 to ₹180 per share |
| Face value | ₹10 per share |
| Lot size | 800 shares |
| Issue type | Book Built Issue IPO |
| Fresh issue size | 24,00,000 shares amounting to ₹43.20 crores |
| Offer for Sale | 6,00,000 shares amounting to ₹10.80 crores |
| Total issue size | 30,00,000 shares amounting to ₹54 crores |
| Listing at | NSE SME |
| Market maker portion | 152,000 - Rikhav Securities Ltd |
| Shareholding post-issue | 1,09,03,928 shares |
| Shareholding pre-issue | 85,03,928 shares |
The Maxvolt Energy Industries Limited IPO opens for subscription on February 12, 2025, and closes on February 14, 2025, with allotment scheduled for February 17, 2025.
| IPO open date | February 12, 2025 (Wednesday) |
| IPO close date | February 14, 2025 (Friday) |
| Basis of allotment | February 17, 2025 (Monday) |
| Initiation of refunds | February 18, 2025 (Tuesday) |
| Credit of shares to Demat account | February 18, 2025 (Tuesday) |
| Listing date on BSE / NSE SME | February 19, 2025 (Wednesday) |
| Cut-off time for UPI mandate confirmation | 5 PM on February 14, 2025 (Friday) |
Maxvolt Energy Industries Limited, established in 2019, is a specialized manufacturer of lithium-ion batteries catering to the electric vehicle, energy storage, and electronics sectors. Operating under the "MaxVolt Energy" brand, the company produces customized battery packs, including advanced Graphene battery packs and chargers, through a network of dealers, distributors, and OEM partnerships. Their state-of-the-art manufacturing facility features advanced machinery, rigorous safety measures, and testing labs, ensuring quality control throughout the production process, supported by service centers across five states.
The company's diverse product portfolio includes batteries for e-scooters, e-rickshaws, e-cycles, energy storage systems, and electronic gadgets, along with various chargers. With a workforce of 97 personnel as of September 2024, Maxvolt operates a hybrid business model combining in-house manufacturing of customizable lithium-ion battery packs with strategic outsourcing of components like lead batteries and chargers, which are designed to their specifications but manufactured by third parties.
The company plans to use the net proceeds from the IPO for three primary purposes: paying off existing loans from various financial institutions, funding capital expenditure for new plant and machinery purchases, and general corporate requirements. However, it's important to note that proceeds from the Offer for Sale portion will go directly to the selling shareholders and not to the company.
The Maxvolt Energy Industries Limited IPO’s key performance indicators, as on March 31, 2024, reflect the company's financial health with a Return on Equity of 85.41%, Return on Capital Employed (ROCE) at 39.46% and a Debt-to-Equity ratio of 0.51. The Return on Net-Worth (RoNW) stands at 45.09%, and the PAT Margin was 10.77%. The Price to Book Value was 11.48. The company’s market capitalisation is ₹196.27 crores.
| Period Ended | September 30, 2024 | March 31, 2024 | March 31, 2023 | March 31, 2022 |
| Revenue | 41.09 | 48.79 | 13.92 | 6.18 |
| Assets | 53.77 | 31.51 | 10.25 | 3.61 |
| Net Worth | 23.94 | 11.55 | 0.64 | 0.37 |
| Profit After Tax | 4.77 | 5.21 | 0.28 | 0.01 |
| Reserves & Surplus | 15.44 | 3.79 | 0.32 | 0.05 |
| Total Borrowing | 4.97 | 5.89 | 2.92 | 2.33 |
Amount in ₹ crores
The pre-IPO EPS is at ₹6,12 while the post-IPO EPS will be ₹8.75. Similarly, the pre-IPO Price to Earnings ratio is 29.39 and will become 20.57 post-IPO.
Maxvolt Energy Industries Limited benefits from a strong commitment to quality, backed by its ISO 9001:2015 certification for its lithium batteries. The company’s large-scale in-house manufacturing facility, with a 97.2 MWh production capacity, enables it to meet growing demand while maintaining high-quality standards. The diverse product portfolio, which includes battery solutions for electric vehicles (EVs) and industrial applications, positions Maxvolt as a flexible player in the market. Additionally, its expansive dealer network across various states enhances its market presence and sales reach, bolstered by the support of service centers, ensuring reliability and customer satisfaction.
The experienced promoters and directors bring strategic industry expertise, driving the company’s growth and positioning in the competitive battery manufacturing sector. With the rising demand for electric vehicles and energy storage solutions, Maxvolt is well-positioned to capitalize on these market opportunities. Its ability to leverage its manufacturing scale, along with a commitment to customer-centric solutions, strengthens its potential for continued success and expansion.
Maxvolt faces several risks related to taxation and legal matters, including pending tax litigations amounting to ₹425.47 lakhs and a criminal complaint involving a company director. These legal challenges could impact the company’s financial stability and business operations, potentially leading to unforeseen liabilities or regulatory complications. Furthermore, the company is highly reliant on key suppliers from China for raw materials, which exposes it to price volatility, supply disruptions, and the risks of geopolitical instability. The absence of long-term contracts with these suppliers further exacerbates this vulnerability.
Another notable challenge is Maxvolt’s heavy reliance on e-scooter battery sales as its primary revenue source. This dependency leaves the company exposed to fluctuations in market demand, competition, and potential changes in government subsidies or customer preferences. Additionally, the company’s relatively short operating history since its inception in 2019 adds uncertainty to its future prospects. Combined with high working capital requirements and increased borrowings, Maxvolt faces financial risks that could affect its cash flow management and overall growth trajectory.
Investing early in Maxvolt Energy Industries Limited could provide an opportunity to be part of the company’s growth in the battery manufacturing sector. However, investors should thoroughly evaluate key factors such as the company’s operational performance, financial stability, market trends, and growth strategy, along with their individual investment goals and risk tolerance, before proceeding. It is advisable to review the offer document carefully and seek professional guidance, if necessary, to make a well-informed decision regarding participation in this IPO.
What is the Maxvolt Energy Industries Limited IPO?
The Maxvolt Energy Industries Limited IPO is an NSE SME offering aiming to raise ₹54 crores. The price band has been set between ₹171 to ₹180 per share, with a minimum order quantity of 800 shares. This IPO will be open for subscription from February 12, 2025, to February 14, 2025. Smart Horizon Capital Advisors Private Limited is the book-running lead manager, Bigshare Services Private Limited is the registrar while Rikhav Securities Limited is the market maker.
When will the Maxvolt Energy Industries IPO open?
The Maxvolt Energy Industries Limited IPO will open for subscription on February 12, 2025, and will close on February 14, 2025.
When is the Maxvolt Energy Industries IPO listing date?
The tentative listing date for the Maxvolt Energy Industries Limited IPO is Wednesday, February 19, 2025.
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