Bookbuilding IPO | ₹[.] Cr | Listing at BSE SME |
Maharaja & Speedex India Ltd. IPO is a Book Build Issue of 0.50 crore equity shares consisting of a fresh issue of upto 0.40 crore equity shares and an offer for sale (OFS) of upto 0.10 crore equity shares.
The equity shares are proposed to be listed on the BSE SME. Choice Capital Advisors Pvt.Ltd. is the book running lead manager and Maashitla Securities Pvt.Ltd. is the registrar of the issue. Key details like IPO dates, IPO price bands and lot size are yet to be announced.
Refer to Maharaja & Speedex India IPO DRHP for more details.
| IPO Date | [.] |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price Band | |
| Lot Size | |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE SME |
| Total Issue Size | 50,00,000 shares (agg. up to ₹[.] Cr) |
| Fresh Issue | 40,00,000 shares (agg. up to ₹[.] Cr) |
| Offer for Sale | 10,00,000 shares of ₹10 (agg. up to ₹[.] Cr) |
| Share Holding Pre Issue | 1,28,98,740 shares |
| Share Holding Post Issue | 1,68,98,740 shares |
| Description | Date |
|---|---|
| Filed with SEBI/Exchange | Fri, Apr 24, 2026 |
| SEBI/Exchange approval received | Mon, Jun 29, 2026 |
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 50% of the Net Issue |
| Retail Shares Offered | Not less than 35% of the Net Issue |
| NII Shares Offered | Not less than 15% of the Net Issue |
The Company was incorporated on February 15, 2006, as “Maharaja Cookers Private Limited” under the Companies Act, 1956, and was initially engaged in trading activities. In 2017, the Company diversified into the trading of stainless-steel bottles, which emerged as a key revenue segment and contributed significantly to its turnover.
In Fiscal 2021, Dewdrop Bottles Private Limited, an entity owned by the current Promoters and Directors at that time, commenced manufacturing of stainless-steel products from its facility in Sonipat, Haryana. To consolidate manufacturing operations, the Company acquired Dewdrop Bottles Private Limited as a wholly owned subsidiary pursuant to a Share Purchase Agreement dated January 27, 2025.
Further, in Fiscal 2025, the Company acquired Gulika Apparel Private Limited as its wholly owned subsidiary pursuant to a Share Purchase Agreement dated February 4, 2026, which was subsequently rebranded as “Speedex Online Private Limited” to strengthen its online sales and digital distribution capabilities.
Maharaja & Speedex India Limited is engaged in the manufacturing, branding, marketing and distribution of stainless-steel bottles and allied drinkware products, catering to both retail and institutional customers across India. The Company operates through a pan-India distribution network comprising 101 distributors across 17 states and 2 Union Territories.
| Period Ended | 30 Nov 2025 | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|---|
| Assets | 51.85 | 47.67 | 26.94 | 16.24 |
| Total Income | 75.48 | 93.60 | 61.41 | 64.77 |
| Profit After Tax | 8.35 | 5.57 | 1.08 | 0.72 |
| EBITDA | 12.53 | 10.61 | 2.90 | 1.72 |
| NET Worth | 21.87 | 13.52 | 4.97 | 1.86 |
| Reserves and Surplus | 21.86 | 13.51 | 4.96 | 1.85 |
| Total Borrowing | 13.93 | 18.04 | 16.11 | 7.94 |
| Amount in ₹ Crore | ||||
| Company | Issue Type | Issue Size | Issue Price | PE Ratio | Listing Day Close | Listing Gain/Loss % | LTP |
|---|---|---|---|---|---|---|---|
| Clay Craft India Ltd. | SME | ₹110.11 Cr | ₹203 | 11.38 | ₹221.55 | +9.14% | ₹162.90 (-4.88%) |
| Riddhi Display Equipments Ltd. | SME | ₹24.68 Cr | ₹100 | 14.91 | ₹76.00 | -24.00% | ₹32.60 (+4.99%) |
| All Time Plastics Ltd. | Mainboard | ₹400.60 Cr | ₹275 | 32.17 | ₹283.30 | +3.02% | ₹245.97 (+0.16%) |
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Repayment and/or pre-payment, in full or part, of certain borrowings availed by the Company and its subsidiary from banks. | 25.05 |
| 2 | Funding of capital expenditure towards purchase of plant and machineries at the existing manufacturing facility of the wholly-owned subsidiary | 20.38 |
| 3 | General Corporate Purposes | |
| Total | 45.43 |
| KPI | Nov 30, 2025 | Mar 31, 2025 |
|---|---|---|
| ROE | 47% | 60% |
| ROCE | 39.94% | 42.22% |
| Debt/Equity | 0.19 | 0.53 |
| RoNW | 53.64% | 68.03% |
| PAT Margin | 11.07% | 5.95% |
| EBITDA Margin | 16.61% | 11.35% |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 4.31 | 7.41 |
| Promoter Holding | 92.39% |
Lead Manager Reports
Maharaja & Speedex India IPO is a SME IPO of 50,00,000 equity shares of the face value of ₹10 aggregating up to ₹[.] Crores. The issue is priced at To be declared. The minimum order quantity is .
The Maharaja & Speedex India IPO open and close dates are not available as of now.
Maashitla Securities Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE SME.
Zerodha customers can apply online in Maharaja & Speedex India IPO using UPI as a payment gateway. Zerodha customers can apply in Maharaja & Speedex India IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Maharaja & Speedex India IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Maharaja & Speedex India IPO dates are not announced. Please check back again after some time.
Maharaja & Speedex India IPO lot size and the minimum order quantity is not available at this time. Please check again later.
You can apply in Maharaja & Speedex India IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Maharaja & Speedex India IPO will be done on [.], and the allotted shares will be credited to your demat account by . Check the Maharaja & Speedex India IPO allotment status.
The Maharaja & Speedex India IPO listing date is not yet announced. The tentative date of listing is .
