Maxvolt Energy share price makes a flat debut, lists at IPO price of ₹180 on NSE SME
- Maxvolt Energy share price debuted on NSE SME at ₹180, matching its IPO price. The IPO had a subscription rate of 3.23 times, raising ₹54 crore, with plans to fund capital expenses and loan repayments. The company specializes in lithium-ion battery production.
Maxvolt Energy share price made a muted debut on NSE SME today. Maxvolt Energy share price today opened at ₹180, same as the initial public offering (IPO) price.
The initial public offering (IPO) of Maxvolt Energy Industries had a subscription period that ran from Wednesday, February 12, until Friday, February 14. With a face value of ₹10, shares in the Maxvolt Energy IPO are at ₹180. At least 800 of those shares are up for bid, and there are multiples of those shares available. Maxvolt Energy IPO subscription status was 3.23 times on the last day of bidding, chittorgarh.com
Maxvolt Energy Industries Limited specializes in the production of lithium-ion batteries. The organization produces lithium-ion batteries intended for electric vehicles, energy storage solutions, and electronic devices, distributing them through dealers, distributors, and OEMs under the "MaxVolt Energy" brand name.
They also create tailored battery packs and provide Graphene battery packs and chargers branded as their own. As of September 30, 2024, the company operates service centers across five states to assist dealers and distributors with battery-related concerns.
The company's manufacturing plant is equipped with cutting-edge machinery, robust safety protocols, and testing laboratories. It maintains strict quality control throughout the process, from sourcing raw materials to final product testing, packaging, and shipping.
As per the red herring prospectus (RHP), the company's listed peers are Amara Raja Energy & Mobility (with a P/E of 22.13), Exide Industries (with a P/E of 31.06), High Energy Batteries (India) (with a P/E of 27.48), and Servotech Renewable Power System (with a PE of 273.42).
Maxvolt Energy IPO details
Maxvolt Energy IPO, which is worth ₹54 crore, comprises a fresh issue of ₹43.20 crore, and an offer-for-sale (OFS) of 6,00,000 equity shares by the shareholder.
The company intends to use the net proceeds from the Offer for several purposes, including the repayment or early repayment, either partially or fully, of loans obtained by the company from banks, financial institutions, and non-banking financial companies; financing capital expenditure needs of the company for the acquisition of Plant and Machinery; and for general corporate activities.
Smart Horizon Capital Advisors Private Limited serves as the lead manager for the Maxvolt Energy IPO, whereas Bigshare Services Pvt Ltd is responsible for the registration of the issue. Rikhav Securities Limited acts as the market maker for the Maxvolt Energy IPO.
Maxvolt Energy IPO GMP today
Maxvolt Energy IPO GMP today or grey market premium was ₹0, which meant shares were trading at their issue price of ₹180 with no premium or discount in the grey market according to investorgain.com
'Grey market premium' indicates investors' readiness to pay more than the issue price.'
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