Maharaja & Speedex India Limited has made an investment of ₹19.80 crore in its wholly owned subsidiary, Dewdrop Bottles Private Limited, by subscribing to 4,50,000 equity shares pursuant to a Rights Issue of the subsidiary. The investment was made at an issue price of ₹440 per equity share.
The investment is in accordance with the objects of the Company's Initial Public Offering (IPO) as disclosed in the Prospectus dated 16th September 2026. The funds will be utilized by the subsidiary towards meeting its capital expenditure requirements, specifically for the purchase of plant and machinery for its existing manufacturing facility.
Dewdrop Bottles Private Limited is engaged in the business of manufacturing, trading, developing, designing, assembling, installing, maintaining, processing, repairing, buying, selling, importing, exporting and dealing as agents or brokers in stainless-steel bottles, feeding bottles, water bottles and all kinds of domestic and commercial cookers, including pressure cookers. The subsidiary was incorporated on 5th August 2020.
Financial performance of Dewdrop Bottles Private Limited:
- FY 2023-24: Turnover of ₹2,727.86 lakhs
- FY 2024-25: Turnover of ₹5,569.68 lakhs
- FY 2025-26: Turnover of ₹8,897.82 lakhs
The transaction falls within the ambit of related party transactions as Dewdrop Bottles is a wholly owned subsidiary, but has been undertaken on an arm's length basis. The promoter/promoter group does not have any separate interest in the entity beyond their indirect interest through shareholding in the Company.
There will be no change in the percentage of shareholding of the Company in Dewdrop Bottles Private Limited, and the subsidiary will continue to remain wholly owned. The investment is intended to support the planned expansion and strengthening of the subsidiary's manufacturing capabilities.
No governmental or regulatory approvals were required for this acquisition, and the completion is expected within statutory timelines.