Maxvolt Energy Industries IPO allotment today: Steps to check status online

Maxvolt Energy Industries IPO allotment status is scheduled to be finalised on Monday, February 17, following the end of the bidding process. The NSE SME issue closed with a decent subscription on February 14.

Investors waiting for the share allotment to be finalised by the company can check the details on the National Stock Exchange (NSE) website. The IPO allotment status can also be checked on the portal of the issue registrar, Bigshare Services Pvt. Ltd.

The lithium-ion batteries manufacturing company launched its initial public offering on February 12 to raise ₹54 crore from the primary market.

The NSE SME IPO was overall booked more than 3 times on the last day of bidding with applications for more than 64.4 lakh shares against the allocation of over 19.96 lakh shares.

The Non-Institutional Investors (NIIs) subscribed their category nearly 1.5 times with bids for over 6.2 lakh shares against the allocation of 4.28 lakh shares. The retail portion of the IPO was booked nearly 2 times with application for more than 19.72 lakh shares against 10 lakh shares on offer. The Qualified Institutional Buyers (QIBs) booked their segment 6.76 times by applying for more than 38.47 lakh shares compared to the 5.68 lakh shares set aside for them.

Here are the steps to check Maxvolt Energy Industries IPO share allotment status online and other key details

Steps to check Maxvolt Energy Industries IPO allotment status on NSE

• Open the IPO allotment status webpage of the NSE: https://www.nseindia.com/invest/check-trades-bids-verify-ipo-bids
• Out of the two options, choose ‘Equity and SME IPO bid details’
• Select ‘MAXVOLT’ from the dropdown menu for IPO names
• Enter your PAN and Application Number
• Click ‘Submit’ to view the status of your IPO allotment

Steps to check IPO allotment status on Bigshare Services

• Visit IPO allotment status page on Bigshare Services Pvt. Ltd website: https://www.bigshareonline.com/ipo_allotment.html
• Choose a server link out of the 3 options
• Select Maxvolt Energy Industries as the IPO name
• Choose any of these— PAN, Application Number, Beneficiary ID
• Enter details as per the selection
• Complete Captcha verification
• Click on the ‘Submit’ button

Maxvolt Energy Industries IPO key details

• Maxvolt Energy Industries IPO comprised a fresh issue of 24 lakh shares, worth up to ₹43.2 crore, and an offer-for-sale (OFS) of 6 lakh shares, aggregating to ₹10.8 crore.
• The IPO price band was set at ₹171 to ₹180 per share, and the minimum lot size was 800 shares.
• Smart Horizon Capital Advisors Private Ltd. is the book-running lead manager of Maxvolt Energy Industries' IPO, and Rikhav Securities Ltd. is the market maker.
• Refunds will be issued on Tuesday, February 18, and the allottees will also receive shares in the demat accounts the same day following the share.
• The company has proposed to list its shares on the NSE on Wednesday, February 19.

About Maxvolt Energy Industries and use of IPO proceeds

Maxvolt Energy Industries Limited operates in the lithium-ion battery manufacturing industry. It produces various batteries catering to Electric Vehicles, energy storage systems and electronics.

The company is also a supplier of advanced Graphene Battery packs and battery chargers and has service centres in key states like Uttar Pradesh, Delhi, Bihar, Madhya Pradesh, and Gujarat. It has a state-of-the-art manufacturing unit in Ghaziabad, Uttar Pradesh, boasting an impressive production capacity of up to 97.2 MWh as of September 30, 2024.

The company intends to use the funds generated from the issue to repay or prepay borrowings from banks, financial institutions, and non-banking financial companies, fund its expenditure requirements for the purchase of plants and machinery, and allocate funds for general corporate purposes.

Maxvolt Energy Industries’ total revenue stood at ₹41.08 crore, while profit after tax (PAT) was at ₹4.77 crore for the six months period ended September 2024. In FY24, the company’s revenue stood at ₹48.78 crore and net profit was reported at ₹5.2 crore.