IPO Overview
Maharaja & Speedex India Limited announced that its Initial Public Offering will open on Thursday, 10 September 2026 and close on Tuesday, 15 September 2026. The issue consists of 4,308,000 equity shares, each having a face value of ₹10, priced within a band of ₹177 to ₹186 per share. At the upper price band, the company aims to raise ₹80.13 crore.
Allocation Structure
The equity share allocation is structured as follows: QIB investors may be allotted not more than 50 % of the net offer; non‑institutional investors must receive at least 15 % of the net offer; retail individual investors must receive not less than 35 % of the net offer; and a market maker is permitted up to 216,000 equity shares. Anchor bidding is scheduled for Wednesday, 9 September 2026.
Lead Managers and Registrar
Choice Capital Advisors Private Limited is appointed as the Book Running Lead Manager, while Maashitla Securities Private Limited serves as the registrar for the issue.
Use of Proceeds
The net proceeds from the fresh issue will be utilized for (i) repayment and/or pre‑payment, in full or part, of certain borrowings availed by the company and its subsidiary from banks, (ii) funding capital expenditure towards the purchase of plant and machinery at the existing manufacturing facility of its wholly‑owned subsidiary, and (iii) general corporate purposes.
Management Commentary
Mr. Rakesh Kumar Aggarwal, Chairman and Managing Director, stated that the company’s journey has been guided by quality, innovation and customer‑centricity in the drinkware segment. He highlighted the diversified portfolio of stainless‑steel bottles and allied drinkware under the Speedex and Dewdrop brands, the OEM and private‑label capabilities, and the pan‑India distribution network. Aggarwal emphasized that the IPO marks a significant milestone and that the proceeds will strengthen production capabilities, enhance operational efficiency and support future growth.
Mr. Ratiraj Tibrewal, Director of Choice Capital Advisors Private Limited, noted the company’s strong presence in the organised drinkware segment, its 223 SKUs, and a network of 101 distributors across 17 states and 2 Union Territories. He affirmed that the planned investment in plant and machinery is expected to bolster manufacturing capabilities and operational efficiencies, positioning the company to capture growing demand for durable, reusable drinkware.
Business Profile
Maharaja & Speedex India Limited manufactures and distributes stainless‑steel bottles and allied drinkware products. Its portfolio includes standard and novelty products marketed under its own brands as well as through OEM and private‑label arrangements. Manufacturing is carried out by its wholly‑owned subsidiary, Dewdrop Bottles Private Limited, which operates two units in Sonipat, Haryana. Distribution is achieved via a pan‑India network of 101 distributors, modern trade and online channels.
Financial Highlights (FY26)
For the fiscal year 2026, the company reported revenue of ₹12,265.38 lakhs, EBITDA of ₹2,252.33 lakhs and profit after tax of ₹1,534.19 lakhs.
Disclaimer
The information provided is for informational purposes only and does not constitute financial advice.