Maxvolt Energy IPO day 1: GMP, subscription status, price band, other details of NSE SME IPO

Maxvolt Energy IPO: The initial public offering (IPO) of lithium-ion batteries manufacturer Maxvolt Energy Industries opened for subscription on Wednesday, February 12, and will remain so until Friday, February 14.

The ₹54 crore NSE SME IPO combines a fresh issue of 24 lakh shares for ₹43.20 crore and an offer for sale (OFS) of six lakh shares for ₹10.80 crore.

Maxvolt Energy IPO subscription status

The SME IPO is witnessing a tepid response from retail and non-institutional buyers. By 1 PM on Wednesday, the issue had seen an overall subscription of about 47 per cent, with the retail portion subscribed 19 per cent and non-institutional investors’ (NIIs) segment subscribed to 39 per cent. The segment reserved for qualified institutional buyers (QIBs) had been subscribed to 1.03 times by that time.

Maxvolt Energy IPO details

1. Maxvolt Energy IPO GMP: According to market sources, the latest grey market premium (GMP) of Maxvolt Energy shares was nil. The latest GMP indicates the stock could be listed at par with the issue price.

2. Maxvolt Energy IPO date: The SME IPO opened for subscription on Wednesday, February 12, and will conclude on Friday, February 14.

3. Maxvolt Energy IPO price: The price band of the public issue has been fixed at ₹171 to ₹180 per equity share.

4. Maxvolt Energy IPO size: The company intends to raise ₹54 crore from the issue, which it will use to pay the borrowings, fund capital expenditure requirements and for general corporate purposes.

5. Maxvolt Energy IPO lot size: Bidders can apply in lots, and one lot of the SME IPO comprises 800 company shares. Thus, the minimum and maximum amount of investment by a retail investor is ₹1.44 lakh.

6. Maxvolt Energy IPO reservation: Not more than 50 per cent of the net issue is reserved for QIBs, while 35 per cent of the net issue is reserved for retail investors. The remaining 15 per cent of the issue is reserved for NIIs.

7. Maxvolt Energy IPO allotment date: The IPO is closing on February 14, so as per SEBI’s listing rules, the company is expected to finalise the share allotment on Monday, February 17. Successful bidders can expect shares of the company in their demat accounts on Tuesday, February 18, and bidders who fail to get the allocation may get the refund on the same day.

8. Maxvolt Energy IPO book-running lead manager and registrar: Smart Horizon Capital Advisors Private Limited is the book-running lead manager, while Bigshare Services Private Limited is the registrar for the issue.

9. Maxvolt Energy IPO listing: As per SEBI’s T+3 rule of IPO listing, the SME IPO is proposed for listing on the NSE SME on Wednesday, February 19.

10. Maxvolt Energy business overview: According to the red herring prospectus (RHP) of the company, it manufcturers lithium-ion batteries under the brand name of “MaxVolt Energy”.

The company’s profit after tax (PAT) for FY24 stood at ₹5.21 crore against ₹28 lakh in FY23. For the period ended September 30, 2024, the company’s PAT came at ₹4.77 crore.

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