In a significant stride for lithium-ion battery manufacturers, Maxvolt Energy has clinched in-principle approval from NSE Emerge, paving the way for its much-anticipated initial public offering (IPO). Founded in 2019, Maxvolt Energy has quickly become a notable name in the industry, focusing on batteries for electric vehicles like e-scooters, e-rickshaws, and e-cycles, as well as energy storage and a variety of electronics under the “MaxVolt Energy” brand.

MaxVolt Energy – IPO Structure and Shareholding
The upcoming IPO will feature a fresh issuance of up to 24,00,000 equity shares and an offer for sale (OFS) of up to 6,00,000 shares, making a total of 30,00,000 shares on offer. The company’s leaders, Mr. Bhuvneshwar Pal Singh, Mr. Vishal Gupta, and Mr. Sachin Gupta, are key in its strategic planning. Meanwhile, Ms. Preeti Gupta, an existing shareholder, has decided to sell up to 6,00,000 shares through this OFS with each share having a weighted average cost of acquisition (WACA) at INR 1.67. This move is expected to provide liquidity for stakeholders and fund the company’s growth ambitions.
Financial Trajectory and Performance Metrics
Financially, Maxvolt Energy has shown impressive growth. In FY 2023-24, its operational revenue soared to INR 48.37 crore from INR 13.68 crore the previous year. The profit after tax (PAT) for the same period was INR 5.21 crore, with earnings per share (EPS) improving to INR 7.07 from INR 1.33. These figures not only indicate operational success but also highlight the company’s adaptability and sustainability in a competitive market. This performance has made the IPO an appealing prospect for investors interested in the burgeoning sector of lithium-ion battery technology.
Strategic Deployment of Net Proceeds
The capital from the fresh share issue will be used for:
- INR 8.90 crore will go towards reducing debt, specifically repaying or prepaying borrowings.
- A significant portion, INR 24.27 crore, will be invested in new plants and machinery to enhance manufacturing capabilities.
- The leftover funds will support general corporate purposes, including operational enhancements and working capital needs.
- Investment in research and development (R&D) is also on the agenda to foster innovation in battery technology.
Operational Framework and Expansion Trajectory
The company’s manufacturing setup in Ghaziabad spans 18,000 sq. ft., with an annual production capacity of 97.2 MWh as of September 2024. Maxvolt has a well-established supply chain network across states like Uttar Pradesh, Delhi, Bihar, Madhya Pradesh, and Gujarat. Looking ahead, Maxvolt plans to expand with a new battery production facility, delve into battery recycling, and broaden its service centres’ reach.
Incorporating automation and AI into manufacturing aims to refine production processes, ensuring higher accuracy and product reliability to meet the growing demand in electric vehicle and energy storage markets.
Registrar & Lead Manager
- Book Running Lead Manager: Smart Horizon Capital Advisory
- Registrar to the Offer: Bigshare Services
Conclusion
With this approval from NSE Emerge, Maxvolt Energy is set for a transformative phase, enhancing its financial stability and market stature in the lithium-ion battery industry. Its dedication to innovation, quality, and strategic growth positions it well as a leader in this field.
Maxvolt Energy IPO will fuel further expansion, allowing deeper market penetration and product diversification. As the world leans more into clean energy solutions, Maxvolt’s focus on lithium-ion technology positions it advantageously. With its seasoned leadership, clear business goals, and strong operational base, Maxvolt Energy is on track for a successful listing and sustained leadership in its sector.
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