Maharaja & Speedex India IPO
Maharaja & Speedex India IPO Details
-
Open Date
10 Sep 2026
-
Close Date
15 Sep 2026
- IPO Price Range
₹ 177 to ₹186
- IPO Size
₹ 80.13 Cr
Maharaja & Speedex India IPO Timeline
Maharaja & Speedex India IPO Subscription Status
| Date | QIB | NII | Retail | TOTAL |
|---|---|---|---|---|
| 10-Sep-2026 | 0.00 | 0.85 | 0.22 | 0.29 |
| 11-Sep-2026 | 0.10 | 0.80 | 0.56 | 0.48 |
| 15-Sep-2026 | 48.82 | 40.32 | 19.65 | 32.41 |
Last Updated: 15 September 2026 6:39 PM by 5paisa
Maharaja & Speedex India Limited is a drinkware manufacturer and distributor offering stainless-steel bottles, tumblers, feeding bottles and gym shakers across mass, premium and lifestyle segments. The Company operates through integrated manufacturing facilities in Sonipat, Haryana, with an annual capacity of approximately 45.24 lakh units. Supported by 101 distributors across 17 states and two Union Territories, it serves retail, institutional, OEM, private-label and online customers across India.
Established in: 2006
Managing Director: Rakesh Kumar Aggarwal
Peers:
Borosil Limited
Cello World Limited
Maharaja & Speedex IPO Size
| Types | Size |
|---|---|
| Total IPO Size | ₹80.13 Cr |
| Offer For Sale | ₹64.10 Cr |
| Fresh Issue | ₹16.03 Cr |
Maharaja & Speedex IPO Lot Size
| Application | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 2 | 1,200 | 2,12,400 |
| Retail (Max) | 2 | 1,200 | 2,23,200 |
| S-HNI (Min) | 3 | 1,800 | 3,18,600 |
| S-HNI (Max) | 8 | 4,800 | 8,92,800 |
| B-HNI (Min) | 9 | 5,400 | 9,55,800 |
Maharaja & Speedex IPO Reservation
| Investors Category | Subscription (times) | Shares Offered* | Shares bid for | Total Amount (Cr.)* |
|---|---|---|---|---|
| QIB (Ex Anchor) | 48.82 | 8,18,400 | 3,99,58,200 | 743.223 |
| Non-Institutional Buyers | 40.32 | 6,13,800 | 2,47,48,800 | 460.328 |
| bNII | 44.60 | 4,08,600 | 1,82,25,000 | 338.985 |
| sNII | 31.79 | 2,05,200 | 65,23,800 | 121.343 |
| Retail | 19.65 | 14,32,800 | 2,81,49,600 | 523.583 |
| Total** | 32.41 | 28,65,000 | 9,28,56,600 | 1,727.133 |
*The "Shares Offered" and "Total Amount" are calculated using the upper limit of the issue price range.
**Shares allocated to anchor investors (or market makers) are excluded from the total number of shares offered.
| Particulars (In ₹ Crores) | FY24 | FY25 | FY26 |
| Revenue | 61.32 | 93.51 | 122.65 |
| EBITDA | 2.90 | 10.61 | 22.52 |
| PAT | 1.08 | 5.57 | 15.34 |
| Particulars (In ₹ Crores) | FY24 | FY25 | FY26 |
| Total Assets | 26.94 | 47.67 | 81.98 |
| Share Capital | 0.01 | 0.01 | 12.90 |
| Total Liabilities | 26.94 | 47.67 | 81.98 |
| Particulars (In ₹Crores.) | FY24 | FY25 | FY26 |
| Net Cash Generated From / (used in) Operating Activities | 2.13 | 2.05 | 3.66 |
| Net Cash Generated From / (used in) Investing Activities | -2.68 | -1.65 | -11.61 |
| Net Cash Generated From / (used in) Financing Activities | 0.81 | 0.04 | 7.23 |
| Net Increase (Decrease) in Cash and Cash Equivalents | 0.26 | 0.44 | -0.72 |
Strengths
1. Integrated manufacturing supports better operational control
2. Pan-India distribution network ensures wider market reach
3. Diversified portfolio across multiple drinkware product categories
4. Strong OEM and private-label manufacturing capabilities
Weaknesses
1. Business concentrated primarily within stainless-steel drinkware segment
2. Manufacturing operations concentrated at Sonipat facilities
3. Dependence on distributors for broad offline reach
4. Limited diversification beyond core drinkware product categories
Opportunities
1. Growing demand for premium lifestyle drinkware products
2. Online channels can accelerate direct consumer reach
3. Product innovation offers scope for portfolio expansion
4. Corporate gifting can strengthen institutional sales opportunities
Threats
1. Intense competition across branded drinkware market segments
2. Raw material price fluctuations may pressure margins
3. Changing consumer preferences require continuous product innovation
4. Competitive pricing may impact overall profitability margins
1. Integrated manufacturing supports scale and product customisation
2. Diverse portfolio serves multiple consumer price segments
3. Pan-India distribution network enables broader market reach
4. Digital expansion offers additional growth opportunities online
India’s reusable drinkware market is benefiting from growing demand for durable, sustainable and lifestyle-oriented products, with stainless steel emerging as a key category. Online channels, premiumisation and corporate gifting are also supporting market expansion. Maharaja & Speedex can leverage its integrated manufacturing capabilities, diversified product portfolio, Pan-India distribution network and growing digital presence to capture opportunities across retail, institutional, OEM and private-label segments.
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FAQs
Maharaja & Speedex IPO opens from September 10 2026 to September 15, 2026.
The size of Maharaja & Speedex IPO is approximately ₹80.13 crore.
The price band of Maharaja & Speedex IPO is fixed at ₹177 to ₹186 per share.
To apply for Maharaja & Speedex IPO, follow the steps given below:
● Login to your 5paisa demat account and select the issue in the current IPO section
● Enter the number of lots and the price at which you wish to apply for the Maharaja & Speedex IPO.
● Enter your UPI ID and click on submit. With this, your bid will be placed with the exchange.
You will receive a mandate notification to block funds in your UPI app.
The minimum lot size is 107 shares, requiring an investment of approximately ₹2,12,400.
The share allotment date of Maharaja & Speedex IPO is September 16, 2026.
The Maharaja & Speedex IPO will likely be listed on September 18, 2026.
Choice Capital Advisors Pvt.Ltd is the book-running lead manager.
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