BSE SME Maharaja & Speedex India shines on debut

Maharaja & Speedex India traded at Rs 262.50 on the BSE, a 41.13% premium to the issue price of Rs 186.

The scrip was listed at Rs 250, a 34.41% premium to the initial public offer (IPO) price. The stock is currently frozen at its upper limit of 5% over its listing price.

The counter hit a high of Rs 262.50 and a low of Rs 240. About 22.75 lakh shares of the company changed hands at the counter.

Maharaja & Speedex India's IPO was subscribed 30.21 times. The issue opened for bidding on 10 September 2026 and it closed on 15 September 2026. The price band of the IPO was between Rs 177 ? 186 per share.

The IPO comprised fresh issue of 22,19,400 equity shares and offer for sale of 8,61,600 shares.

The company proposes to utilise the net proceeds from the issue towards the repayment and/or pre-payment, in full or in part, of certain bank borrowings availed by the company and its subsidiary; capital expenditure for the purchase of plant and machinery at the existing manufacturing facility of its wholly owned subsidiary; and general corporate purposes.

Ahead of the IPO, Maharaja & Speedex India on 9 September 2026, raised Rs 22.82 crore from anchor investors. The board allotted 12.27 lakh shares at Rs 186 each to 10 anchor investors.

Maharaja & Speedex India is a Delhi-based manufacturer and marketer of stainless-steel consumer products, primarily under the Speedex brand. Its portfolio includes stainless-steel water bottles, vacuum-insulated bottles, tumblers, travel mugs, feeding bottles, fitness shakers and other lifestyle products. It also undertakes OEM and private-label manufacturing for third-party customers and sells through a network of distributors as well as e-commerce and quick-commerce platforms. The company has 431 full time employees.

The company recorded revenue from operations of Rs 122.65 crore and net profit of Rs 15.34 crore for the financial year ended 31 March 2026.

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