Maharaja & Speedex IPO Details
Maharaja & Speedex IPO Summary
Maharaja & Speedex IPO opens for subscription on 10 Sep 2026 and closes on 15 Sep 2026.The IPO will be listed on BSE with the tentative listing date set for 18 Sep 2026.
Maharaja & Speedex IPO price band has been fixed at ₹177 – ₹186 per share. The face value is ₹10 per share with a lot size of 600.
Maharaja & Speedex IPO total issue size comprises 43,08,000 shares (aggregating up to ₹80.13 Cr). This includes a fresh issue of 34,46,400 shares (aggregating up to ₹64.10 Cr). Offer for Sale consists of 8,61,600 shares (aggregating up to ₹16.03 Cr). Pre-issue shareholding stands at 1,28,98,740, which will increase to 1,63,45,140 post-issue.
Maharaja & Speedex IPO carries a ₹30 (16.13%) GMP, reflecting investor sentiment.
Maharaja & Speedex IPO Lot Size :Individual Minimum is 2 lots (1,200 shares) amounting to ₹2,23,200. Individual Maximum is 2 lots (1,200 shares) amounting to ₹2,23,200. SHNI Minimum is 3 lots (1,800 shares) amounting to ₹3,34,800. SHNI Maximum is 8 lots (4,800 shares) amounting to ₹8,92,800. BHNI Minimum is 9 lots (5,400 shares) amounting to ₹10,04,400.
Maharaja & Speedex IPO Details
Maharaja & Speedex IPO Dates
- 10 Sep 2026Opening dateOpen
- 15 Sep 2026Closing dateClose
- 16 Sep 2026Allotment Date Allotment
- 17 Sep 2026Initiation of RefundsRefund
- 17 Sep 2026Credit of SharesCredit
- 18 Sep 2026Listing dateListing
Maharaja & Speedex IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Individual Minimum | 2 | 1200 | ₹2,23,200 |
| Individual Maximum | 2 | 1200 | ₹2,23,200 |
| SHNI Minimum | 3 | 1800 | ₹3,34,800 |
| SHNI Maximum | 8 | 4800 | ₹8,92,800 |
| BHNI Minimum | 9 | 5400 | ₹10,04,400 |
Maharaja & Speedex IPO Reservation
Promoter Holding
Documents
Maharaja & Speedex IPO Valuations
Maharaja & Speedex Financial Information
| Period Ended | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Assets | 81.98 | 47.67 | 26.94 |
| Total Income | 122.74 | 93.60 | 61.41 |
| Profit After Tax | 15.34 | 5.57 | 1.08 |
| EBITDA | 22.52 | 10.61 | 2.90 |
| NET Worth | 26.74 | 11.39 | 4.97 |
| Reserves and Surplus | 15.96 | 13.51 | 4.96 |
| Total Borrowing | 26.66 | 18.04 | 16.11 |
| Amount in ₹ Crore | |||
About Maharaja & Speedex IPO
Incorporated in February 2006, Maharaja & Speedex India Limited is a drinkware manufacturing and distribution company engaged in the manufacturing, branding, marketing and distribution of stainless-steel bottles and allied drinkware products. The Company offers a diversified portfolio of drinkware products classified into Standard Products and Novelty Products. Standard Products primarily comprise stainless-steel bottles, while Novelty Products include tumblers, feeding bottles and gym shakers. Its products are offered across mass, premium and lifestyle price segments, catering to a broad range of retail consumers and institutional customers. In addition to branded products, the Company undertakes OEM and private-label manufacturing, providing customized drinkware solutions for corporate gifting programmes, institutional buyers and brand partners.
The Company operates an integrated, asset-backed business model supported by in-house manufacturing capabilities primarily through its wholly owned subsidiary, Dewdrop Bottles Private Limited. As of the date of the Red Herring Prospectus, Dewdrop Bottles operates two manufacturing facilities in Sonipat, Haryana, with an installed production capacity of approximately 45.24 lakh units per annum across 223 SKUs. The manufacturing facilities are equipped with modern machinery and production lines that enable large-scale manufacturing and product customization across various drinkware categories. The Company also focuses on product innovation and the development of value-added drinkware products in line with changing consumer preferences.
The Company has developed a Pan-India distribution network comprising 101 distributors across 17 states and 2 Union Territories, including Maharashtra, Uttar Pradesh, Rajasthan and Punjab. Its products are distributed through traditional retail channels, modern trade formats and online sales channels. The Company serves both B2C and B2B markets, while maintaining long-standing relationships with suppliers, distributors, retailers, institutional customers and brand partners.
The Company has also expanded its group structure to strengthen its manufacturing and digital distribution capabilities. Dewdrop Bottles Private Limited became a wholly owned subsidiary in January 2025, consolidating the Group's stainless-steel drinkware manufacturing operations. In 2026, the Company acquired Gulika Apparel Private Limited, which was subsequently rebranded as Speedex Online Private Limited, with the objective of strengthening its online sales operations and digital distribution of branded products.
As of March 31, 2026, the Company and its wholly owned subsidiary had 431 full-time employees. The Company's management team brings complementary expertise to its manufacturing, distribution and business operations.
Strength Of Maharaja & Speedex IPO
- Long-standing relationships with suppliers and customers.
- Integrated Manufacturing and Distribution Capabilities.
- Diversified product portfolio across price segments.
- Seasoned Management Team with Complementary Expertise.
Risk Of Maharaja & Speedex IPO
- We source a significant portion of our raw material requirements from a limited number of suppliers, and any disruption in supply or deterioration of our relationship with such supplier(s) could have a material adverse effect on our business, results of operations and financial condition.
- We are dependent on and derive a substantial portion of our revenue from certain key customers. Loss of relationship with any of these customers or delays or reductions in their orders may have an adverse effect on our business, results of operations, financial condition and cash flows.
- We are dependent on our distribution network in India to sell and distribute our products and any disruption in our distribution network could have an adverse effect on our business, results of operations, financial condition and cash flows.
- Manufacturing products for third parties under OEM and private-label arrangements may create potential channel conflicts and competitive overlap with our branded products, which could adversely affect our brand positioning and growth strategy.
- Our revenue is concentrated in certain states, and any adverse developments in these regions could materially affect our business.
- Our Company does not own any of the premises from which we operate, and all such premises are leased. Disruption of our rights as lessee or termination of the agreement with our lessor may adversely impact our operations and, consequently, our business, financial condition and results of operations.
- Our Company and certain of our Promoters, Directors, Key Managerial Personnel, Senior Management and Subsidiaries are involved in certain legal proceedings. Any adverse decision in such proceedings may render us/them liable to liabilities/penalties and may adversely affect our business and results of operations.
- We are dependent on third party transportation and logistics service providers. Any increase in the charges of these entities could adversely affect our business, results of operations and financial condition.
- Under-utilization of our manufacturing capacities may have an adverse effect on our business, future prospects and future financial performance. Moreover, information relating to capacity utilization of our production facility included in this Red Herring Prospectus is based on certain assumptions and future production and capacity utilization may vary.
- Our inability to accurately forecast demand for our products and manage our inventory may have an adverse effect on our business, results of operations, financial condition and cash flows.
Objectives Maharaja & Speedex IPO
1. Repayment and/or pre-payment, in full or part, of certain borrowings availed by the Company and its subsidiary from banks.
2. Funding of capital expenditure towards purchase of plant and machineries at the existing manufacturing facility of the wholly-owned subsidiary
3. General Corporate Purposes
Company Contact Details
Kh. No. 53/27 GT Karnal Road, Village Alipur, Near Alipur Police Station,
Alipur, New Delhi , 110036
Phone: 9650589457
Email: cs@speedexind.com
Website: https://speedexind.com/
Registrar Contact Details
Maharaja & Speedex FAQs
The Maharaja & Speedex IPO is a SME public issue comprising 4308000 equity shares with a face value of ₹10 each, aggregating to a total issue size of ₹80.13 Cr. The issue price has been fixed at ₹186 per equity share, and the minimum application size is 600 shares.
The IPO opens for subscription on 10 Sep 2026, and closes on 15 Sep 2026.
Maashitla Securities Pvt Ltd has been appointed as the registrar to the issue. The equity shares are proposed to be listed on the BSE
As of now, the current GMP stands at ₹30 (16.13%).
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