Industrial Engineering & Machinery - Listed on 06 November 2026
Maxwell Engineering Solutions (Industrial Engineering & Machinery) closed its IPO window in 2026 and listed on NSE and BSE on 06 November 2026 at an upper band issue price of Rs 158, opening at Rs 300.2 for a listing gain of +90.0% and closing day one at Rs 315.2 (+99.5% on closing basis). The IPO was subscribed 536.80x overall - QIB -, HNI/NII -, Retail -. The total issue size was Rs 57.64 Cr (Fresh Issue Rs 57.64 Cr, OFS Rs 0 Cr). IPO GMP data, subscription trends across Day 1 - Day 3 and Nifty performance around the listing window are detailed below.
Industrial Engineering & Machinery
Maxwell Engineering Solutions operates in the Industrial Engineering & Machinery space. The company’s listed profile is shaped by its operating niche, customer demand and ability to convert that demand into steady cash flows. Investors should read its exchange filings alongside the headline listing numbers for a fuller view of the business.
Issue structure, listing outcome and context
The Maxwell Engineering Solutions issue was offered at an upper price of Rs 158 and raised approximately Rs 57.64 crore. The final outcome reflected a mix of subscription demand, valuation, market conditions and the company’s own operating story. Fresh issue and offer-for-sale details, where available, are shown in the issue metrics below.
Number of times each investor category subscribed by close of Day 3.
How overall subscription built up across the three-day issue window.
Grey market premium (GMP) tracked day-by-day across the IPO window. Absolute GMP is the premium in rupees over the upper issue price; GMP % is that premium as a percent of the issue price.
| Day | GMP (Rs) | GMP % |
|---|---|---|
| Day 1 | - | - |
| Day 2 | - | - |
| Day 3 | Rs 105 | +66.50% |
| Day 4 | - | - |
| Day 5 | - | - |
Comparison between market-based GMP prediction and IPOGyani's AI-powered listing gain prediction.
Prediction Accuracy: 90.0 pp (Variance observed)
How the broader market moved around the Maxwell Engineering Solutions IPO window. Helpful for isolating how much of the listing gain came from company fundamentals vs. market tailwind.
Maxwell Engineering Solutions IPO listed at +90.0% versus the upper issue price of Rs 158 on 06 November 2026.
Maxwell Engineering Solutions IPO was subscribed 536.80x overall. QIB portion was subscribed -, HNI / NII - and Retail -.
IPO GMP started at - on Day 1 and moved to Rs 105 by the close of the issue window. See the day-by-day GMP table above for the full trajectory.