Maharaja & Speedex India Limited IPO — Subscription & GMP
- Price band
- ₹177 – ₹186
- Lot size
- 600
- Issue size
- ₹57.31 Cr
- Bidding
- 10 Sept 2026 → 15 Sept 2026
- Allotment
- —
- Listing
- 18 Sept 2026
Listing outcome
Official exchange pricesGMP was out by 23.1 percentage points in the buyer’s favour — it implied +11.29% and the issue listed +34.41%. Counted in our running GMP accuracy record.
Schedule
- 10 Sept 2026IPO open date
- 15 Sept 2026IPO close date
- 16 Sept 2026Allotment date†
- 16 Sept 2026Funds unblock or debit†
- 18 Sept 2026Tentative listing date
† Derived from the close date using the T+3 working-day timeline. The exchanges publish the open and close dates; the rest are indicative until confirmed, and exchange holidays are not accounted for.
Fundamentals
The business, its valuation and returnsMaharaja & Speedex India Limited - Business Model Summary
Maharaja & Speedex India Limited operates as an integrated manufacturer, brand owner, and distributor specializing in stainless-steel drinkware, kitchenware, and lifestyle utility products.
Core Segments & Product Portfolio
1. Product Lines: - Drinkware: Manufactures single-wall fridge bottles, double-wall vacuum-insulated flasks, tumblers, and sippers. - Kitchen & Lifestyle Utility: Produces allied consumer items including stainless steel lunch boxes, insulated containers, baby feeding bottles, and pressure cookers.
2. Manufacturing & Asset-Backed Operations: - Operates in-house and subsidiary-backed manufacturing facilities equipped with large-scale production capacities to handle high-volume metal forming and finishing.
Channels & Revenue Streams
- Hybrid Channel Model: Combines proprietary consumer brands (such as Speedex and Dewdrop) with OEM and private-label manufacturing partnerships for external institutional clients.
- Distribution Network: Generates revenue through a extensive B2B and B2C framework, moving products via a pan-India distributor network spanning multiple states alongside expanding e-commerce and retail touchpoints.
Grey market premium
Unofficial · not from any exchangeSubscription status
Live from BSE · fetched 865 hr ago| Category | Shares offered | Shares bid for | Subscribed |
|---|---|---|---|
| 1Qualified Institutional Buyers (QIBs) | 8.18 L | 4.00 Cr | 48.82× |
| 1(a)Foreign Institutional Investors (FIIs) | — | 77.44 L | — |
| 1(b)Domestic Financial Institutions(Banks/ Financial Institutions(FIs)/ Insurance Companies) | — | 3,600 | — |
| 1(c)Mutual Funds | — | 14.51 L | — |
| 1(D)Others | — | 3.08 Cr | — |
| 2Non Institutional Investors | 8.30 L | 2.50 Cr | 30.09× |
| 2(a)Corporates | — | 7.19 L | — |
| 2(b)Individuals (Other than RIIs) | — | 2.33 Cr | — |
| 3Retail Individual Investors (RIIs) | 14.33 L | 2.81 Cr | 19.65× |
| 3(a)Cut Off | — | — | — |
| 3(b)Price Bids | — | 2.81 Cr | — |
| 4Employee Reserved | — | 0 | — |
| 4(a)Employee (Cut off) | — | — | — |
| 4(b)Employee (Price) | — | — | — |
| 5Reservation PortionShareholder | — | 0 | — |
| 5(a)RPS (Cut off) | — | — | — |
| 5(b)RPS (Price) | — | — | — |
| Total | 30.81 L | 9.31 Cr | 30.21× |
Source: NSE issue information · BSE public issue
Demand curve
Shares bid at each price point · BSE₹177 → ₹186 · peak 9.31 Cr shares bid
Allotment status
You will need your PAN, application number or DP/client ID. These links go to the registrar and exchanges directly — UpcomingIPO never asks for those details.
Issue details
- Price band
- ₹177 – ₹186
- Lot size
- 600 shares
- Min. bid quantity
- 1200
- Face value
- ₹10.00
- Tick size
- ₹1.00
- Shares offered
- 30.81 L
- Issue size
- ₹57.31 Cr
- Max bid · QIB
- 28.65 L
- Max bid · NII
- 20.47 L
Timeline & process
- Bidding opens
- 10 Sept 2026
- Bidding closes
- 15 Sept 2026
- Allotment
- —
- Listing
- 18 Sept 2026
Intermediaries
- Registrar
- Maashitla Securities Private Limited
- Sponsor bank
- AXIS BANK
- Lead managers
- Choice Capital Advisors Private Limited