Maxvolt Energy Industries Limited has announced plans to raise INR 60 crore through an Initial Public Offering (IPO) following its transformation from a private to a public limited company. The company previously known as Maxvolt Energy Industries Pvt Ltd has demonstrated notable growth with revenue surging over 106% from INR 12.16 crore in Q2 FY 2023-24 to INR 24.99 crore in Q2 of the current fiscal year.
The decision to transition to a public limited company approved during the Annual General Meeting and formalised by the Registrar of Companies marks a significant milestone in Maxvolt’s growth strategy. This move aims to enhance investor transparency and facilitate access to capital for expanding its operations in the competitive lithium battery market.
A recent capital infusion of INR 125 million from angel investors has further strengthened Maxvolt’s research and development capabilities. This funding supports the company’s efforts to meet the growing demand for sustainable energy solutions in domestic and global markets. Commenting on the transformation, Chief Business Officer Satendra Shukla stated that becoming a public limited company is central to Maxvolt’s strategy to expand its offerings and leverage opportunities in battery recycling and investment. By going public, the company seeks to enhance its market credibility, attract new investors, and secure the resources needed to continue its growth trajectory.
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