Divya Agarwal
Mumbai (Maharashtra) [India], September 9: Maharaja & Speedex India Limited a manufacturer and distributor of stainless-steel bottles and allied drinkware products, proposes to open its Initial Public Offering on Thursday, September 10, 2026, aiming to raise ₹ 80.13 Crores (At Upper Price Band) with shares to be listed on the BSE SME platform.
The offer size is 43,08,000 equity shares of face value of ₹ 10 each with a price band of ₹177 – ₹186 Per Share.
Equity Share Allocation
- QIB Portion – Not More than 50.00% of the Net Offer
- Non-Institutional Investors – Not less than 15.00% of the Net Offer
- Retail Individual Investors – Not less than 35.00% of the Net Offer
- Market Maker – Up to 2,16,000 Equity Shares
The net proceeds from the fresh issue will be utilized for repayment and/or pre-payment, in full or part, of certain borrowings availed by Company and its subsidiary from banks, funding of capital expenditure towards purchase of plant and machinery at the existing manufacturing facility of its wholly-owned subsidiary and general corporate purposes. The anchor bidding is on Wednesday, September 9, 2026. The offer will open on Thursday, September 10, 2026 and will close on Tuesday, September 15, 2026.
The Book Running Lead Manager to the offer is Choice Capital Advisors Private Limited, and the Registrar is Maashitla Securities Private Limited.
Mr. Rakesh Kumar Aggarwal, Chairman and Managing Director of Maharaja & Speedex India Limited, said, “At Maharaja & Speedex India Limited, our journey has been guided by a commitment to quality, innovation and customer-centricity in the drinkware segment. Over the years, we have developed a diversified portfolio of stainless-steel bottles and allied drinkware products, supported by our brands Speedex and Dewdrop, along with our OEM and private-label capabilities.
Our strong manufacturing capabilities, extensive product portfolio and Pan-India distribution network position us well to serve the growing needs of both retail and institutional customers. With increasing consumer preference for durable, reusable and sustainable drinkware solutions, we see meaningful opportunities to further expand our market presence and product offerings.
The proposed Initial Public Offering marks a significant milestone in our growth journey. The proceeds will support investments in plant and machinery at our existing manufacturing facility, enabling us to strengthen our production capabilities, enhance operational efficiency and support future business growth.
As we move forward, our focus remains on expanding our product portfolio, strengthening our brands and distribution network, and creating a scalable and sustainable business. We are confident that this next phase will enable the company to build upon its existing strengths.”
Mr. Ratiraj Tibrewal, Director of Choice Capital Advisors Private Limited, said, “Maharaja & Speedex India Limited has established a strong presence in the organised drinkware segment, supported by a diversified portfolio of stainless-steel bottles and allied products, established brands and a growing OEM and private-label business. Its manufacturing capabilities, broad product range and Pan-India distribution network provide a well-rounded platform to address opportunities across retail and institutional markets.
The Company’s focus on stainless-steel and reusable drinkware products is aligned with evolving consumer preferences towards durable and sustainable alternatives. With 223 SKUs, established manufacturing infrastructure and a network of 101 distributors across 17 states and 2 Union Territories, the Company has developed a scalable business platform with significant scope for further market penetration.
The proposed IPO represents an important step in the Company’s growth journey. The planned investment in plant and machinery is expected to strengthen manufacturing capabilities, enhance operational efficiencies and support the Company’s ability to cater to growing demand.
We believe Maharaja & Speedex India Limited is well positioned to leverage its manufacturing capabilities, brand presence, distribution reach and product diversification to pursue its next phase of growth.”
About Maharaja & Speedex India Limited:
Maharaja & Speedex India Limited is a drinkware manufacturing and distribution company focused on stainless-steel bottles and allied drinkware products. Its portfolio includes Standard Products and Novelty Products, marketed under its own brands, Speedex and Dewdrop, as well as through OEM and private-label arrangements.
Manufacturing is undertaken through its wholly-owned subsidiary, Dewdrop Bottles Private Limited, which operates two units in Sonipat, Haryana. The Company’s products are distributed through a Pan-India network of 101 distributors across 17 states and 2 Union Territories, along with modern trade and online channels.
In FY26, the Company achieved revenue of ₹ 12,265.38 lakhs, EBITDA of ₹ 2,252.33 lakhs & PAT of ₹ 1,534.19 lakhs.
