Maxwell Engineering Solutions Limited, incorporated in September 2022, makes precision components for underwater pelletizing systems, including die plates, blades and cutter hubs. It also offers refurbishment, white-label manufacturing and consulting services from its facility at Waghodia GIDC, Vadodara, Gujarat.
The company has filed its Red Herring Prospectus dated 26 October 2026 with the Registrar of Companies, Ahmedabad, after receiving in-principle approval from NSE Emerge on 23 October 2026. The book-built issue is a fresh issue of up to 36,48,000 equity shares of ₹10 each, including 2,22,400 shares reserved for the market maker. The price band is ₹150 to ₹158 per share and the lot size is 800 shares, so the issue is worth up to ₹57.64 crore at the upper end of the band. After the issue, the promoter group will hold 71.36% of the company, down from 97.26%.
JDA Capital Services Limited is the Book Running Lead Manager and Market Maker to the issue. KFin Technologies Limited is the registrar.
The issue opens on 30 October 2026 and closes on 3 November 2026. Listing on NSE Emerge is expected on or before 6 November 2026.
