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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

Reviewed by our team. This analysis was prepared from the offer document on 28 Oct 2026. Figures can contain errors; check them against the offer document before relying on them. It is information, not investment advice.

Valuation

At the upper price band of ₹158

INVESTORTRACK ANALYSIS

P/E (FY26 EPS)13.4x12.7x at lower band

P/B6.4xBook value ₹24.74 / share

EPS (FY26)₹11.8FY25: ₹9.2

Market cap₹216.46 CrPost-issue, at ₹158

Issue valuation26.6%Issue size ÷ market cap

Maxwell Engineering Solutions Limited peer comparison

From the offer document’s own listed-peer table

OFFICIAL IPO DATA

Comparison with listed industry peers: EPS, NAV, P/E, RoNW and revenue
Company	EPS basic	EPS diluted	NAV	P/E	RoNW	Revenue (₹ Cr)
Maxwell Engineering Solutions LimitedThis IPOFinancial statements · Restated	₹11.8	₹11.8	₹24.7	13.4x	47.7%	₹29.45
Kabra Extrusion Technik Ltd.Financial statements · Standalone	−₹0.7	–	₹127.9	–	-0.5%	₹451

The price band is ₹154 to ₹158 per equity share, resulting in a P/E ratio of 12.71 to 13.39 times based on basic and diluted EPS of ₹11.80 for Fiscal 2026. Industry peer P/Es range from 99.00 to 100.65 times, while Kabra Extrusion Technik Ltd. has a negative EPS.

Maxwell Engineering Solutions IPO in context

How the size of this issue compares with every IPO in our archive

INVESTORTRACK ANALYSIS

How big the issue is

At ₹58 Cr, Maxwell Engineering Solutions is a larger issue than 78% of the 202 SME IPOs in our archive that state an issue size (the median is ₹38 Cr).

How IPOs of a similar size listed

Of 63 SME IPOs in our archive with an issue of ₹50 Cr or more (listed 2025 to date), 59% opened above the issue price and 29% below. The median opening gain was +1.80%, and the middle half ranged from −0.79% to +19.12%.

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.

Next tabOffer details · ₹57.64 Cr