The scrip was listed at 180, matching the initial public offer (IPO) price. The counter hit a high of Rs 182.05 and a low of Rs 180. About 8.74 lakh shares of the company changed hands at the counter.
Maxvolt Energy Industries' IPO was subscribed 3.06 times. The issue opened for bidding on 12 February 2025 and it closed on 14 February 2025. The price band of the IPO was set at Rs 171 to Rs 180 per share.
The issue size comprised fresh issue of 15,48,800 and offer for sale (OFS) of 6,00,000 shares by existing promoters.
The company intends to utilize the net proceeds for the repayment or prepayment, full or in part, of borrowings availed by the company from banks, financial institutions, and non-banking financial companies, funding of capital expenditure requirements of the company towards the purchase of plant and machinery, and general corporate purposes.
Ahead of the Maxvolt Energy Industries on 11 February 2025, raised Rs 15.32 crore from anchor investors. The board has allotted 8.51 lakh shares at Rs 180 per share to 9 anchor investors.
Maxvolt Energy Industries makes lithium-ion batteries, which are supplied through a diverse sales and distribution network, including authorized dealers, distributors, and OEMs, under the brand name "MaxVolt Energy." These batteries are widely used in electric vehicles such as E-Scooters, E-Rickshaws, and E-Cycles, as well as in energy storage systems and electronic gadgets. The company also manufactures customized battery packs according to the specific requirements of manufacturers across various industries. In addition to its manufacturing operations, Maxvolt Energy is a supplier of graphene battery packs and battery chargers, which are designed and developed under its own brand name. As of 30 September 2024, the company has 97 employees.
The company recorded revenue from operations of Rs 40.27 crore and net profit of Rs 4.77 crore for the period ended 30 September 2024.