Maxvolt Power IPO Itemizing: Lithium Ion Battery Firm disillusioned, share flat stage checklist – INA NEWS
Maxvolt Power IPO: Lithium Ion Battery maker Maxwolt Power shares on NSE SME’s itemizing on February 19. The share IPO worth has been listed at Rs 180, that’s, the itemizing has been flat. Maxwolt Power’s IPO of Rs 54 crore was opened on 12 February and closed on 14 February. It obtained a complete of three.23 instances the subsa cryption.
Reserve share for certified institutional consumers, 6.76 instances, reserve share for non -institutional buyers 1.45 instances and reserve share for retail buyers is 1.97 instances. 24 lakh new shares value Rs 43.20 crore have been issued in IPO. Additionally, 6 lakh shares of Rs 10.80 crore have been supplied for Sale (O.S).
The right way to use IPO cash
Maxwolt Power will use the cash obtained by releasing new shares in its IPO to repay the borrowing, to repay the borrowing, for funding the capital expertise associated to the acquisition of plant and equipment and for normal company functions. .
The promoters of Maxwolt Power are Bhuvneshwar Pal Singh, Vishal Gupta and Sachin Gupta. The corporate had raised Rs 15.32 crore from anchor buyers earlier than IPO. The corporate makes custom-made battery packs, supplying graphene battery packs and charger.
Monetary standing of maxwolt power
The corporate’s monetary 12 months 2023-24 was Rs 48.79 crore, which was Rs 13.92 crore a 12 months in the past. In the meantime, web revenue was recorded at Rs 5.21 crore, which was Rs 28 lakh in FY 2023. In the course of the April-September 2024 interval, the income of Maxwolt Power was Rs 41 crore and web revenue was Rs 4.77 crore. The borrowing was round 5 crores.
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Maxvolt Power IPO Itemizing: Lithium Ion Battery Firm disillusioned, share flat stage checklist
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