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Maxwell Engineering Solutions Limited
Minimum investment
Bidding date
30 Oct - 03 Nov 2026
Price range
₹150 - ₹158
Minimum quantity
1,600
Minimum investment
₹1,26,400
Issue size
₹58 Cr.
IPO doc (link)
RHP docs
Listing exchange
NSE/BSE
Category | Subscription |
|---|---|
Qualified Institutional Buyers | - |
Retail Individual Investor | - |
Non-Institutional Investor | - |
Others | - |
Total | - |
The company manufactures pelletizing die plates, pelletizing blades/knives, blade holders/cutter hubs, tapped driving bushes and other spare items for underwater pelletizing systems, and undertakes customized manufacturing and white-label supply. It also trades complementary components such as blades/knives, driving bushes and blade holders, and offers refurbishing and repair services for used die plates, intermediary support for CJTEK components and management consulting. Its products serve polymer compounding, masterbatches, engineering plastics, cable compounds, specialty polymers and plastics recycling industries. Customers are spread across countries including the USA, Germany, Netherland, Israel, Saudi Arabia and Oman. Its manufacturing facility is at Plot Nos. 939 and 940, Waghodia GIDC, Vadodara, which the document says is equipped with modern precision machining equipment and in-house testing facilities. Export revenue was 84.73% of revenue from operations in FY 2025-26.
Strength: Experienced Promoters and Management Team.
Strength: Quality Service.
Strength: Well established systems and procedures.
Strength: Revenue from multiple geographies.
Strength: Customized Product Offering.
Risk: Dependence on a few key suppliers for critical raw materials and traded items, with no long-term supply agreements.
Risk: Significant reliance on imported Carbide and Brazing Filler, exposing the company to currency, duty and cross-border supply risks.
Risk: Export obligations under the EPCG Scheme; failure to meet them may lead to duty recovery with interest and penalties.
Risk: Foreign exchange exposure from export sales, with no hedging arrangements in place.
Risk: Working capital intensive business with rising working capital requirements.
Risk: Trademark applications pending, with one device mark under opposition.
Risk: Dependence on a few customers without long-term arrangements.
Risk: Promoter Group entity operating in a similar line of business, with no non-compete agreement.
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