Maxvolt Energy Transitions to Limited Company Ahead of its IPO Plans
As per the board’s decision and in accordance with the Companies Act, 1956, the company will now be known as Maxvolt Energy Industries Ltd.
October 25, 2024. By Aishwarya
The transformation marks a significant milestone for the company, reflecting its ambitions for future growth and expansion.
The firm’s board of directors approved the change during the company’s Annual General Meeting (AGM) held last week. As per the board’s decision and in accordance with the Companies Act, 1956, the company will now be known as Maxvolt Energy Industries Ltd.
This reclassification has also received the formal approval of the Central Government, as signified by the Registrar of Companies (ROC), Central Processing Centre (CPC) under SRN AA9412732.
Established in 2019, Maxvolt Energy has quickly emerged as a leader in lithium battery technology, offering innovative and high-quality energy solutions. The company specializes in manufacturing and supplying lithium battery packs for Electric Vehicles (EVs), Energy Storage Systems, and Medical Device Batteries. Its relentless focus on innovation has placed Maxvolt at the forefront of the rapidly evolving energy storage and electric mobility sectors.
The move to become a limited company is a pivotal step for Maxvolt Energy as it prepares for its SME Initial Public Offering (IPO) in the near future. This strategic shift aims to enhance transparency, attract new investors, and fuel the company’s next phase of growth, enabling it to meet the rising demand for sustainable energy solutions.
Maxvolt recently raised INR 125 million in funding from multiple angel investors. This significant capital infusion has allowed the company to advance its technology further, including the development of fast-charging lithium-ion batteries.
"Our conversion into a limited company is a key part of Maxvolt’s growth strategy as we continue to innovate and expand our product offerings in the energy and EV sectors. This move will not only strengthen our position in the market but also allow us to pursue new opportunities for development and investment," said Satendra Shukla, Chief Business Officer at Maxvolt Energy Industries Ltd.
As the world transitions toward more sustainable energy sources, Maxvolt Energy is poised to play a crucial role in shaping the future of energy storage solutions, helping to drive the adoption of electric vehicles and renewable energy technologies globally.
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