Maxwell Engineering Solutions IPO attracts 491x subscription; GMP jumps to 50%
Maxwell Engineering Solutions IPO | The company approached capital markets to raise Rs 57.64 crore via initial public offering of 36.48 lakh equity shares at the upper end of price band of Rs 150-158 per share.
Maxwell Engineering Solutions, the precision engineering company that manufactures components for underwater pelletizing systems, has garnered massive demand for its IPO from investors on November 3, as the offer subscribed 491.39 times on the final day of bidding. The demand was robust across categories of investors who have placed bids for 128.94 crore equity shares against the issue size of 26.24 lakh shares via 5.06 lakh applications in the last three days from October 30.
