Mumbai: Stainless-steel drinkware manufacturer Maharaja & Speedex India Limited has opened its initial public offering for subscription on September 10, seeking to raise ₹80.13 crore at the upper price band. The shares are proposed to be listed on the BSE SME platform.
The Maharaja & Speedex India IPO will close on September 15. The company has fixed a price band of ₹177-186 per equity share, with a face value of ₹10 each.
Maharaja & Speedex IPO Details
The public offer comprises 43,08,000 equity shares. Qualified institutional buyers can receive up to 50% of the net offer, while at least 15% is reserved for non-institutional investors.
Retail individual investors have been allocated at least 35% of the net offer. Up to 2,16,000 shares have been earmarked for the market maker.
Where Will IPO Funds Go?
The company plans to use the fresh issue proceeds partly to repay or prepay certain borrowings taken by the company and its subsidiary.
Funds will also finance the purchase of plant and machinery at the existing manufacturing facility of wholly-owned subsidiary Dewdrop Bottles Private Limited. The remaining amount will support general corporate purposes.
223 SKUs Across Drinkware Portfolio
Maharaja & Speedex manufactures stainless-steel bottles and allied drinkware products under its Speedex and Dewdrop brands, alongside OEM and private-label offerings.
Its subsidiary operates two manufacturing units in Sonipat, Haryana. The company has 223 SKUs and 101 distributors across 17 states and two Union Territories, along with modern retail and online channels.
In FY26, the company reported revenue of ₹122.65 crore, EBITDA of ₹22.52 crore and profit after tax of ₹15.34 crore.
Choice Capital Advisors is the book-running lead manager, while Maashitla Securities is the registrar.
