Mumbai (Maharashtra) [India], February 26: Maxvolt Energy Industries Limited, a pioneering name in lithium battery technology, marked a significant milestone today as it officially debuted on the National Stock Exchange (NSE) Emerge platform. The listing follows the successful closure of its Initial Public Offering (IPO) on February 14, 2025. It saw an overwhelming subscription of 3.3 times, reflecting strong investor confidence in the company’s growth potential and leadership in clean energy solutions.
Maxvolt Energy’s IPO, open from February 12 to 14, 2025, witnessed robust investor demand, with Qualified Institutional Buyers (QIBs) oversubscribed their portion 6.76 times, while Non-Institutional Investors (NII/HNIs) and Retail Investors subscribed 1.81 times and 1.97 times, respectively. A total of over 6.59 million shares were applied for against the 1.99 million shares offered. The IPO was priced between ₹171 and ₹180 per share, with a bid lot of 800 shares.
Founded in 2019, Maxvolt Energy has rapidly grown into a key player in the lithium-ion battery industry, serving electric vehicles (EVs), energy storage systems, and consumer electronics. With a strong focus on sustainability, battery recycling, and advanced manufacturing, the company has established a presence across Uttar Pradesh, Delhi, Bihar, Madhya Pradesh, and Gujarat.
The proceeds from its IPO will be strategically utilized for funding the lithium battery recycling plant, expansion of market reach, and capacity enhancement of the current facility. Moreover, the entire leadership team consisting Mr Bhuvneshwar Pal Singh (MD & CFO), Mr Vishal Gupta (Chairman & CTO), Mr Satendra Shukla (CBO & CEO), and Mr Mukesh Gupta (Marketing Head) is keen on strengthening the company’s R&D facility and setting up a dedicated production line for ESS batteries.
Maxvolt Energy has demonstrated remarkable financial performance, with FY 2023-24 revenue soaring to ₹48.37 crore, reflecting a 253% growth from the previous year’s ₹13.68 crore. The Profit After Tax (PAT) stood at ₹5.21 crore, with Earnings Per Share (EPS) jumping from ₹1.33 to ₹7.07.
With a state-of-the-art 23,000 sq. ft. manufacturing facility in Ghaziabad and an annual production capacity of 97.2 MWh (as of September 2024), Maxvolt Energy is well-positioned to meet India’s growing demand for lithium-ion batteries.
On the company’s successful NSE listing, Mr Satendra Shukla, Chief Business Officer of Maxvolt Energy, remarked, “Receiving approval from NSE Emerge and making our debut today is a landmark achievement for Maxvolt Energy. This IPO will fuel our expansion and solidify our leadership in lithium battery technology. With a strong vision for growth, we are committed to driving the future of sustainable energy storage and strengthening India’s clean energy ecosystem.”
The listing ceremony took place on February 19, 2025, at 08:30 AM at the NSE headquarters in Bandra Kurla Complex, Mumbai. It marked a significant milestone in Maxvolt Energy’s journey toward market leadership and long-term value creation for its stakeholders.
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