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Maharaja & Speedex India Limited

SMElistedBSE SME
10 Sep 2026 – 15 Sep 2026
LISTED
Offer Price
₹177–186
Bid lot
600
Min Application
₹2,23,200
Issue Size
₹80 Cr

Key dates

Open date
10 Sep 2026
Done
Close date
15 Sep 2026
Done
Basis of allotment
16 Sep 2026
Done
Initiation of refunds
16 Sep 2026
Done
Credit to demat
16 Sep 2026
Done
Listing date
18 Sep 2026
Done

Issue reservation

₹80 Cr
QIB 50%10%5%Retail 35%5.01%
QIB
21.5 L sh · ₹40.00 Cr
50%
HNI (10L+)
4.3 L sh · ₹8.00 Cr
10%
HNI (2-10L)
2.2 L sh · ₹4.00 Cr
5%
Retail
15.1 L sh · ₹28.00 Cr
35%
Market maker
2.2 L sh · ₹4.02 Cr
5.01%
BRLM: Choice Capital Advisors Private Limited

Lot ladder — how much to bid

1 lot = 600 shares
Individual · up to ₹2 L2+ lots
Min · 2 lots
1,200 sh · ₹2,23,200
Entry point
₹2,23,200 onward
sHNI · ₹2 L to ₹10 L3+ lots
Min · 3 lots
1,800 sh · ₹3,34,800
Entry point
₹3,34,800 onward
bHNI · Above ₹10 L9+ lots
Min · 9 lots
5,400 sh · ₹10,04,400
Entry point
₹10,04,400 onward

Issue details

Lead managersChoice Capital Advisors Private Limited
Fresh issue34,46,400 sh · ₹64 Cr
Offer for sale8,61,600 sh · ₹16 Cr
Face value₹10
Listing onBSE SME
RegistrarMaashitla Securities Pvt.Ltd.
Grey-market sentiment
No grey-market data yet.
Financials

Particulars

FY26

FY25

FY24

Total Assets

81.98

47.67

26.94

Total Income

122.74

93.6

61.41

PAT

15.34

5.57

1.08

Net Worth

26.74

11.39

4.97

Reserves & Surplus

15.96

13.51

4.96

Total Borrowings

26.66

18.04

16.11

Objects of the issue

  • Repayment of Borrowings: ₹24.10 crore to reduce debt.

  • Subsidiary Capex: ₹21.41 crore for plant and machinery at Dewdrop Bottles Private Limited.

  • General Corporate Purposes: ₹9.61 crore for business needs.

  • Issue Expenses: ₹11.21 crore towards IPO-related costs.

About the company

Maharaja & Speedex India Limited, incorporated in February 2006, is engaged in the manufacturing, branding, marketing and distribution of stainless-steel bottles and allied drinkware products, including tumblers, feeding bottles and gym shakers. The Company caters to mass, premium and lifestyle segments and also offers OEM and private-label manufacturing solutions.

Through its wholly owned subsidiary, Dewdrop Bottles Private Limited, the Company operates two manufacturing facilities in Sonipat, Haryana, with an installed capacity of approximately 45.24 lakh units per annum across 223 SKUs. It has a Pan-India distribution network of 101 distributors across 17 states and 2 Union Territories, serving B2C and B2B customers through offline and online channels.

In 2026, the Company acquired Gulika Apparel Private Limited, subsequently renamed Speedex Online Private Limited, to strengthen its digital distribution capabilities. As of March 31, 2026, the Company and its subsidiary employed 431 full-time employees.

Company strengths

  • Pan-India distribution network.

  • Strong OEM and private-label capabilities.

  • Diversified products across price segments.

  • Integrated manufacturing and distribution.

  • Focus on innovation and value addition.

  • Established supplier and customer relationships.

  • Experienced management team.

Promoters

Rakesh Kumar AggarwalKusum AggarwalAkash AggarwalAnkit BansalAtul TulsianRohit Garg.

Registered office & contact

Maharaja & Speedex India Limited.

Address - Kh. No. 53/27 GT Karnal Road,

Village Alipur,

Near Alipur Police Station,

Alipur, New Delhi, 110036

📞 9650589457

✉️ cs@speedexind.com

How to apply
1Create your account & log inSign up on Investoyard and complete a quick KYC.
2Pick the IPO & tap ApplyOpen the live IPO and choose your investor category.
3Enter bid & quantityUp to 3 bids · cut-off or price band · retail cap ₹2,00,000.
4Approve the UPI mandateYou receive a fund-block request on your UPI app.
5DoneFunds stay blocked until allotment, then auto-debited (or released).
Frequently asked questions
What is the minimum investment in the Maharaja & Speedex India Limited IPO?

One lot of 600 shares — ₹2,23,200 at the upper price band of ₹186.

How many bids can I place?

Up to 3 bids per application. Retail applications are capped at ₹2,00,000; above that you must apply in the HNI category.

When are the funds debited?

Funds are blocked via a UPI mandate at application and debited only on allotment. If shares are not allotted, the block is released automatically.

When will the shares list?

Tentative listing on 2026-09-18 on BSE SME.

₹177–186
Applications are closed.