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.
The Rs 216-crore valued company attracted bids worth Rs 20,372 crore.
Maxwell Engineering Solutions shares traded at around 50 percent premium in the grey market, according the market observers. The grey market is an unofficial market wherein the IPO shares are traded till the company gets listed on the bourses.
The trading in Maxwell shares is expected to commence on the NSE Emerge platform on November 6.
Gujarat-based Maxwell Engineering Solutions approached capital markets to raise Rs 57.64 crore via initial public offering (IPO) of 36.48 lakh equity shares at the upper end of price band of Rs 150-158 per share. The offer comprises entirely a fresh issue.