Maharaja Speedex India came to market through an SME IPO that opened on 10 September 2026 and closed on 15 September 2026, and the shares listed on 18 September 2026 on BSE SME. The price band was ₹177 to ₹186 per share and one lot was 600 shares, so the minimum application was ₹1,11,600. The issue size was ₹80.13 crore. It combined a fresh issue of new shares with an offer for sale by existing shareholders.
It listed at ₹250, a gain of 34.4% against the issue price of ₹186. Maashitla Securities Pvt.Ltd was the registrar to the issue, and Choice Capital Advisors Pvt.Ltd was the lead manager.
As of 15 September 2026.
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Overall the issue was subscribed 32.49 times.
The drinkware manufacturing and distribution business entity, Maharaja & Speedex India Limited, was incorporated on February 2006. It manufactures, brands, markets and distributes stainless-steel bottles and drinkware products. The Company's product line includes various types of drinkware products that are classified into two categories - Standard and Novelty. While Standard Products consist of stainless-steel bottles, Novelty Products consist of tumblers, feeding bottles and gym shakers.
The Company manufactures products ranging from mass level to premium and lifestyle products for a wide variety of retail as well as institutional clients. Along with its branded products, it also manufactures OEM and private label products for corporate gifting programs, institutions and brands. As of March 31, 2026, the Company and its wholly owned subsidiary had a total of 431 full time employees.
The management of the Company comprises individuals whose expertise complements each other in its manufacturing, distribution and business activities.
As described in the offer document.
| Metric | 31-Mar-26 | 31-Mar-25 | 31-Mar-24 |
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Rakesh Kumar Aggarwal, Kusum Aggarwal, Akash Aggarwal, Ankit Bansal, Atul Tulsian, Rohit Garg.. Promoter holding 87.69% before the issue and 63.93% after.
Work out the listing gain for this SME IPO
If the retail portion is not fully subscribed, every valid application is allotted in full. If it is oversubscribed, SEBI's rules require that as many applicants as possible receive at least one lot, so the shares are allotted by a computerised lottery across all valid applications, one lot each, until the retail portion is exhausted. Applying for more lots does not improve your chance in a lottery; it only increases what you receive if the issue is under-subscribed.
The basis of allotment document, published by the registrar on the allotment date, states the ratio: for example, one applicant in seven received one lot.
Allotment status is published by the registrar on its website, searchable by PAN, application number or demat account, and also on the exchange's website. Allotted shares are credited to the demat account the day before listing, and blocked money for unsuccessful applications is released the same day. The Rupix app can check allotment status by PAN once the registrar publishes it.
Shares list within three working days of the issue closing. On listing day the exchanges run a special pre-open session from nine o'clock, during which orders are collected and an opening price is discovered from them; trading in the share begins after that, usually around ten. The opening price is the listing price that appears on this page once the issue has listed, and the listing gain or loss is the difference between it and the issue price.
For a mainboard issue, the share then trades in the normal way with the exchange's price band for a new listing. For an SME issue, shares trade in lots rather than one at a time, and the market can be thin, so selling on listing day is not always possible at the opening price. Capital gains on shares sold within a year of allotment are short-term and taxed at the short-term rate.
Maharaja Speedex India IPO was a ₹80.13 crore book-built issue, comprising a fresh issue of ₹64.1 crore and an offer for sale of ₹16.03 crore. It was priced at ₹177–₹186 per share with a lot size of 600 shares; the minimum retail application was 1,200 shares (₹2,23,200). The IPO was open from September 10 to September 15, 2026 and was subscribed 32.49x.
Shares listed on BSE SME on September 18, 2026 at ₹250, a 34.4% premium to the issue price of ₹186. Maashitla Securities Pvt. Ltd. is the registrar. Choice Capital Advisors Pvt. Ltd. is the book running lead manager.
The price band of Maharaja Speedex India IPO is ₹177 to ₹186 per share.
The lot size of Maharaja Speedex India IPO is 600 shares.
The minimum investment for Maharaja Speedex India IPO is approximately ₹2,23,200 based on the upper price band.
The allotment date of Maharaja Speedex India IPO is Sep 16, 2026.
No GMP quote could be verified as recorded before Maharaja Speedex India IPO listed. A grey-market observation of ₹21 per share was recorded on 18 Sep 2026, 7:45 AM IST, but without a verified listing timestamp it is not treated as the final pre-listing GMP. The shares listed at ₹250. GMP is unofficial and does not forecast or guarantee the actual listing price.
You can check Maharaja Speedex India IPO allotment status on the registrar or stock exchange websites using your PAN or application number after allotment. You can also check the Maharaja Speedex India IPO allotment status on Rupix for quick and easy access.
₹177 to ₹186 per share, against a face value of ₹10. Most applicants bid at the cut-off price, the top of the band, so that the application was valid whatever price the issuer finally fixed.
One lot was 600 shares, and every application had to be a whole number of lots. At the top of the band that made the minimum application ₹1,11,600. After listing, SME shares also trade in lots rather than one share at a time.
₹1,11,600, for one lot of 600 shares at the top of the price band. The amount was blocked in the applicant's bank account through ASBA or a UPI mandate while the issue was open, and released on the allotment date to applicants who were not allotted shares.
It opened on 10 September 2026 and closed on 15 September 2026.
The basis of allotment was published on 16 September 2026 by Maashitla Securities Pvt.Ltd, and allotted shares were credited to demat accounts before listing.
The shares listed on 18 September 2026 on BSE SME, opening at ₹250.
The issue size was ₹80.13 crore. The fresh issue was 34,46,400 shares (aggregating up to ₹64.1 crore). The offer for sale was 8,61,600 shares (aggregating up to ₹16.03 crore).
It listed at ₹250 against an issue price of ₹186, a gain of 34.4 percent on listing day.