Figures last updated 3 Nov 2026, 12:00 AM IST · How we work · Report an error

Maxwell Engineering Solutions Limited

SME IPOOpenCloses todayPrecision Engineering / Capital Goods

Price band₹150 – ₹158per share · face value ₹10

Minimum investment₹1,20,0001 lot · 800 shares at lower band

IPO dates30 Oct – 3 NovCloses today, 5:00 PM

GMP UNOFFICIAL₹80▲ +50.63%Est. listing price ₹238Subscription PUBLIC80.34xVery strongDay 2 so far · as of 6:30 PM, 2 Nov 2026

IPO subscription

Bids received ÷ shares offered. 1.00x means the category is fully subscribed.

PUBLIC SOURCES

Total subscription80.34xVery strong demand

Last updated: 6:30 PM, 2 Nov 2026
Bidding is still open. Exchange snapshot, not a live feed.

QIB50% of issue

0.00x

NII15% of issue

117.09x

S-HNIBids ₹2–10 lakh

91.67x

B-HNIBids above ₹10 lakh

129.80x

Retail35% of issue

110.21x

What are S-HNI and B-HNI?

S-HNI (small HNI) is an investor whose bid is above ₹2 lakh and up to ₹10 lakh.
B-HNI (big HNI) is an investor whose bid is above ₹10 lakh, often a wealthy individual, a family office or a company.
Together they are the NII category. SEBI reserves one third of the NII portion for S-HNI and two thirds for B-HNI, so each has its own subscription figure.
Reading them separately shows who is driving the NII number, because the two can move very differently.

Maxwell Engineering Solutions Limited subscription status today

80.34xoverallVery strong demand

QIB: 0.00x
NII: 117.09x
S-HNI: 91.67x
B-HNI: 129.80x
Retail: 110.21x

Day 1 4.67x Day 2 80.34x

Updated 6:30 PM, 2 Nov 2026 IST. Bidding is still open, so these will keep changing.

Maxwell Engineering Solutions IPO is subscribed 80.34x overall: QIB 0.00x, NII 117.09x (small HNI 91.67x, big HNI 129.80x), retail 110.21x (as of 6:30 PM, 2 Nov 2026 IST). That is very strong demand. Total subscription was 4.67x at the end of day 1 and 80.34x at the end of day 2. Bidding is still open, so the figures will keep changing.

Bars share one scale, 0 to 130x. The white tick marks 1x (fully subscribed). Figures are exchange snapshots published during bidding, not a live feed.

For this IPO · filled from its figures

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Allotment probability calculator, started from this IPO's live subscription. Change the figures to try another level.

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Day-wise subscription

Cumulative subscription at the end of each bidding day

PUBLIC SOURCES

Cumulative subscription by day and category
Day	QIB	NII	S-HNI	B-HNI	Retail	Total
Day 1 · 30 Oct	0.00x	4.35x	5.87x	3.59x	7.47x	4.67x
Day 2 · 2 NovLatest	0.00x	117.09x	91.67x	129.80x	110.21x	80.34x

Day 2 is still open. Final figures are published after bidding closes.

Total subscription by day

Times subscribed (x)

How past SME IPOs listed

Our archive has no SME subscription figures, so this covers every SME IPO in it

INVESTORTRACK ANALYSIS

Past IPOs in this group: 448
Opened above issue price: 59%
Median opening gain: +2.25%
Middle half of IPOs: −1.95% to +17.65%

Of 448 SME IPOs in our archive (listed 2025 to date), 59% opened above the issue price and 31% below. The median opening gain was +2.25%, and the middle half ranged from −1.95% to +17.65%.

This describes how past issues opened, not what this IPO will do: one issue can land far outside the range, the opening price says nothing about what happens afterwards, and past results are not a forecast.

Calculated from the past IPOs archive: opening price on listing day against the issue price, for the IPOs where both are known. See how we work.

Learn to read subscription

What the numbers do and do not tell you.

All 12 guides →

How to read IPO subscription numbers7 min read IPO investor categories: retail, S-HNI, B-HNI and QIB7 min read How the IPO allotment lottery works8 min read

More tools for this IPO

GMP profit calculatorGMP ₹80 per share, turned into rupees for your lots.Application amountHow much a bid blocks, and the most a retail bid can hold.

Next tabAllotment · expected 4 Nov

Frequently asked questions

What is the Maxwell Engineering Solutions IPO subscription status?

How much is the retail portion of Maxwell Engineering Solutions IPO subscribed?

Retail investors have subscribed 110.21x, against 35% of the issue reserved for them.

What are S-HNI and B-HNI in IPO subscription?

S-HNI (small HNI) is an investor whose bid is above ₹2 lakh and up to ₹10 lakh. B-HNI (big HNI) is an investor whose bid is above ₹10 lakh, often a wealthy individual, a family office or a company. Together they are the NII category. SEBI reserves one third of the NII portion for S-HNI and two thirds for B-HNI, so each has its own subscription figure. Reading them separately shows who is driving the NII number, because the two can move very differently.

When does Maxwell Engineering Solutions IPO open, close and list?

Maxwell Engineering Solutions IPO opens on 30 Oct 2026, closes on 3 Nov 2026 and lists on 6 Nov 2026. Allotment is expected on 4 Nov 2026.

What does subscription mean?

Subscription is the number of shares bid for divided by the number of shares offered. 1.00x means the category is fully subscribed; above 1x means there were more bids than shares.