Stainless-steel drinkware maker Maharaja & Speedex India opens its ₹80.13 crore IPO on the BSE SME platform, aiming to fund debt repayment and expand manufacturing capacity amid robust revenue growth.
Maharaja & Speedex India has opened its initial public offering, giving investors a chance to subscribe to the stainless-steel drinkware maker’s ₹80.13 crore issue between September 10 and September 15. The company has set a price band of ₹177 to ₹186 a share and plans to list on the BSE SME platform, according to the offer document and market trackers following the issue.
The public issue comprises 43,08,000 equity shares. Reuters-style market summaries note that the minimum investment varies by lot structure across platforms, but the company’s stated allocation sets aside up to half of the net offer for qualified institutional buyers, at least 15% for non-institutional investors and at least 35% for retail investors. Up to 2,16,000 shares have also been reserved for the market maker.
Proceeds from the fresh issue will be used partly to repay borrowings at the company and its subsidiary, and partly to buy plant and machinery for the existing facility of its wholly owned unit, Dewdrop Bottles Private Limited. Any remaining funds will go towards general corporate purposes, according to the company.
Maharaja & Speedex makes stainless-steel bottles and related drinkware under the Speedex and Dewdrop brands, alongside original equipment manufacturing and private-label products. The company says its subsidiary runs two manufacturing units in Sonipat, Haryana, and that it now offers 223 stock keeping units through 101 distributors across 17 states and two Union Territories, in addition to modern retail and online channels. For the year it labels FY26, it reported revenue of ₹122.65 crore, EBITDA of ₹22.52 crore and net profit of ₹15.34 crore. Choice Capital Advisors is the book-running lead manager and Maashitla Securities is the registrar.
Disclaimer: This article is intended to inform and educate, not to recommend or endorse any financial product, investment or strategy. Please consider your own financial circumstances and seek professional advice where appropriate before making financial decisions.
