Maxvolt Energy Industries Limited made a subdued market entry, with its shares listing flat at ₹180 per share on the NSE SME platform. Investors who were applying for the IPO online for this issue saw no listing gains, as the stock opened at its issue price. Shortly after, the stock inched up to ₹182.05 per share, marking a marginal rise.
Trading activity and investor participation
On the listing day, over 7 lakh shares exchanged hands on NSE, with a total trading value of ₹12.76 crores. The company's market capitalisation stood at ₹196.27 crores. The IPO, which was open for bidding from February 12, 2025 to February 14 2025, aimed to raise ₹54 crores via a combination of fresh issue and an offer for sale. Investors applying for the IPO online could apply for a minimum of 800 shares per lot, requiring an investment of ₹1,36,800.
Subscription details and investor interest
Despite the flat listing, the IPO witnessed decent demand, getting subscribed over three times by the final day. The Qualified Institutional Buyers portion saw the highest subscription at 6.76 times, while the retail segment was subscribed twice. Non-institutional investors also showed interest, leading to a 1.5x oversubscription in their category.
Business operations and growth plans
Maxvolt Energy Industries manufactures lithium-ion batteries for electronic devices, electric vehicles, and energy storage systems. The company also supplies Graphene Battery packs and chargers, with service centres in multiple states, including Delhi, Gujarat, and Bihar. The manufacturing plant in Ghaziabad, Uttar Pradesh, has a production capacity of 97.2 MWh. The proceeds from the IPO will be utilised for related expenses, debt repayment, purchasing machinery, and other corporate requirements.
Financial performance and future outlook
The company reported a profit after tax of ₹4.77 crores for the first half of FY 2024-25, with total revenue standing at ₹41.08 crores. In FY 2023-24, the revenue was ₹48.78 crores, with a net profit of ₹5.2 crores. While the stock listed flat, the long-term potential remains tied to growth in the battery and energy storage sector.
Summing up
Maxvolt Energy Industries' listing highlights the evolving interest in SME IPOs, particularly in the renewable energy and battery sector. While the stock had a flat debut, long-term prospects depend on business expansion and market demand. Investors applying for the IPO online should assess a company's financials, industry potential, and growth strategy before making investment decisions. As the market continues to witness IPO activity, staying informed and strategically investing can help maximise returns.
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