Maharaja & Speedex India IPO
LISTEDSMEListing Performance
▲ 34.41%
Issue Price
₹186
Listing Price
₹250
Listed On
18 Sep 2026
- Price Band
- ₹177 – ₹186
- Lot Size
- 600
- Lot Value
- ₹1,11,600
- Open Date
- 10 Sep10 Sep 2026
- Close Date
- 15 Sep15 Sep 2026
- Min Investment
- ₹1,11,600
About Maharaja & Speedex India
Manufactures stainless-steel household and kitchen products sold through offline distribution network and online channels, with OEM and private-label manufacturing for third parties.
Use of IPO Proceeds
Total allocation: ₹45.52 Cr (excludes issue expenses)
Promoters
Rakesh Kumar Aggarwal
Promoter
Akash Aggarwal
Promoter
Rohit Garg
Promoter
Kusum Aggarwal
Promoter
Ankit Bansal
Promoter
Atul Tulsian
Promoter · age 42
Investment Analysis
Quick Analysis: 4 strengths · 6 risk factors· Exchange: BSE SME
Strengths (4)
- •Strong offline distribution network with 90% of revenue from general trade.
- •High capacity utilization of 88.41% in FY26 demonstrating efficient operations.
- •Diversified revenue streams through branded products and OEM private-label manufacturing.
- •Growing online sales channel representing 9.91% of FY26 revenue.
Risk Factors (6)
- •First public offer with no formal market for shares; offer price may not indicate post-listing trading price or market sustainability.
- •Equity investments carry high risk; investors may lose entire investment if business performance deteriorates or market conditions worsen.
- •Reliance on non-GAAP financial measures that lack standardized methodology; real or perceived inaccuracies may harm reputation and business.
- •No SEBI approval or recommendation for shares; SEBI does not guarantee accuracy or adequacy of prospectus disclosures.
- •Significant differences between Indian GAAP and IFRS/US GAAP; financial information comparability limited for foreign investors.
- •SME Platform listing subjects company to regulatory framework different from main board; reduced liquidity and analyst coverage expected.
Investor Quota
Approx. shares reserved per category
Estimated from total issue size; actual reserved lots are set in the RHP.
Application Lot Sizes
Retail caps at ₹2,00,000 (1 lots here). S-HNI is ₹2L–₹10L, B-HNI is above ₹10L.
| Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 600 | ₹1,11,600 |
| Retail (max) | 1 | 600 | ₹1,11,600 |
| S-HNI (min) | 2 | 1,200 | ₹2,23,200 |
| S-HNI (max) | 8 | 4,800 | ₹8,92,800 |
| B-HNI (min) | 9 | 5,400 | ₹10,04,400 |
Subscription Status
Subscription data will appear once bidding begins.
Allotment Statistics
Basis of Allotment
Category-wise subscription & allotment ratio
Weigh your chances
IPO Timeline
Issue Opens
10 Sep 2026 · Thu
Issue Closes
15 Sep 2026 · Tue
Bidding Cut-off (UPI Mandate)
15 Sep 2026 · 5:00 PM IST
Allotment
16 Sep 2026 · Wed
Listing
18 Sep 2026 · Fri
Issue Opens
10 Sep 2026 · Thu
Issue Closes
15 Sep 2026 · Tue
Bidding Cut-off (UPI Mandate)
15 Sep 2026 · 5:00 PM IST
Allotment
16 Sep 2026 · Wed
Listing
18 Sep 2026 · Fri
IPO Details
| Registrar | Maashitla Securities Private Limited |
| Exchange | BSE SME |
| ISIN | — |
| Face Value | ₹10 |
| Issue Size | ₹80.13 Cr |
| Fresh Issue | — |
| OFS Size | — |
| Lead Managers | Choice Capital Advisors Private Limited |
3-Year Financial Summary
| Fiscal Year | Revenue (₹Cr) | PAT (₹Cr) | EPS | P/E | ROE |
|---|---|---|---|---|---|
| FY26 | — | — | — | — | — |
| FY25 | — | — | — | — | — |
| FY24 | — | — | — | — | — |
Detailed Line Items (₹ Cr)
| Line Item | FY24 | FY25 | FY26 |
|---|---|---|---|
| EBITDA | 2.9 | 10.61 | 22.52 |
From the company's offer document (DRHP/RHP); restated figures where available.
Check the valuation yourself
Company Fundamentals
13 sections extracted from this filingCapital Structure
Capital structure not disclosed in this filing.The capital-structure table was not found in Maharaja & Speedex India's offer document (common in abridged prospectuses).
Shareholding Pattern
Pre-Issue
- Rakesh Kumar Aggarwal(Promoter)+24.75%
- Akash Aggarwal(Promoter)+16.49%
- Rohit Garg(Promoter)+13.12%
- Ankit Bansal(Promoter)+9.35%
- Gaurav Tulsian(Promoter)+5.22%
- Shikha Goel(Promoter)+4.68%
- Kusum Aggarwal(Promoter)+4.62%
- Atul Tulsian(Promoter)+4.35%
- Founders Collective Fund(PE / VC)+2.28%
- Abakkus Venture Opportunities Fund(PE / VC)+2.28%
- Versha Aggarwal(Promoter)+2.10%
- Nikita Tulsian(Promoter)+2.00%
- Utkarsh Patel(Promoter)+1.44%
- Abhishek Garg(Promoter)+1.26%
- Richa Garg(Promoter)+1.26%
- Utkarsh Patel HUF(Promoter)+1.01%
- Priyanka Bansal(Promoter)+1.00%
Post-Issue
Post-Issue not disclosed in this filing.Not separately disclosed in Maharaja & Speedex India's filing.
Source: Maharaja & Speedex India offer document (DRHP/RHP).
Reservations & OFS
Investor Reservation
- Anchor+60.00%
- QIB+50.00%
- NII / HNI+15.00%
- Retail+35.00%
OFS Selling Shareholders
- Rakesh Kumar Aggarwal₹4.31 Cr
- Akash Aggarwal₹4.31 Cr
Source: Maharaja & Speedex India offer document (DRHP/RHP).
Board & Management
Board of Directors (6)
- Rakesh Kumar Aggarwal₹0.35 Cr p.a.
Chairman and Managing Director
Associated with Company since incorporation
- Akash Aggarwal₹0.38 Cr p.a.
Executive Director
- Rohit Garg₹0.24 Cr p.a.
Executive Director
- Kusum Aggarwal₹0.24 Cr p.a.
Non-Executive Director
- Subhash Chand Gupta
Independent Director
- Asha K Sharma
Independent Director
Key Managerial Personnel (3)
- Ankit Bansal₹0.28 Cr p.a.
Chief Financial Officer
Bachelors of Commerce (Honours) from University of Delhi
Around 20 years in accounting and finance
- Mansee Agarwal
Company Secretary and Compliance Officer
Bachelors of Commerce from Mahatma Jyotiba Phule Rohilkhand University, Associate member of ICSI
Approximately two years in secretarial compliance
- Atul Tulsian₹0.33 Cr p.a.
Chief Operating Officer
Bachelors of Commerce (Honours) from University of Delhi, Certificate in Fashion Retail Management from NIFT
Around 16 years in textile industry
Source: Maharaja & Speedex India offer document (DRHP/RHP).
Industry & Market
Per Industry Report on Kitchenware Industry by Dun & Bradstreet, a report commissioned by the company (not independent).
Peer Comparison
| Company | P/E | EPS | RoNW % | NAV |
|---|---|---|---|---|
| Maharaja & Speedex India Limited | — | 11.89 | 80.47 | 20.73 |
Registrar (RTA)
SEBI-registered Registrar & Transfer Agent — handles allotment and refunds.
Registrar:Maashitla Securities Private Limited→Lead Managers (BRLMs)
Click any merchant banker for their full IPO track record (positive listing rate, average gain, IPOs managed).
Documents
Frequently Asked Questions
When is the Maharaja & Speedex India IPO opening?
The Maharaja & Speedex India IPO opens on 10 Sep 2026 and closes on 15 Sep 2026. Check this page for the latest updates as we refresh every 30 minutes.
What is the price band of the Maharaja & Speedex India IPO?
The price band for the Maharaja & Speedex India IPO is ₹177 to ₹186. The final price is announced after the book-building process and is confirmed before listing.
What is the lot size and minimum investment for the Maharaja & Speedex India IPO?
The minimum lot size is 600 shares with a minimum investment of ₹1,11,600. Retail investors can apply for up to the retail limit defined by SEBI.
What is the GMP of Maharaja & Speedex India IPO today?
The latest Grey Market Premium for Maharaja & Speedex India is ₹28 (+15.05%). GMP is unofficial data and is not a guarantee of listing price.
When will the Maharaja & Speedex India IPO list on NSE and BSE?
The Maharaja & Speedex India IPO is expected to list on 18 Sep 2026 on BSE SME. Actual listing day trading begins at the start of the normal market session.
How can I check the Maharaja & Speedex India IPO allotment status?
The registrar for this IPO is Maashitla Securities Private Limited. You can check your allotment status on the registrar's portal using your PAN, application number, or DP ID. We link to the registrar directly on our allotment page after the allotment date.
Is the Maharaja & Speedex India IPO a mainboard or SME issue?
Maharaja & Speedex India is a SME IPO that will list on the NSE Emerge or BSE SME platform. SME IPOs require a minimum application value of one lakh rupees.
How do I apply for the Maharaja & Speedex India IPO?
You can apply for the Maharaja & Speedex India IPO through any SEBI-registered broker such as Zerodha, Upstox, or Angel One using UPI or ASBA while the issue is open for bidding.
What is the GMP-implied price of Maharaja & Speedex India IPO?
The GMP-implied price (unofficial, not a forecast) is ₹214: the upper price band of ₹186 plus the latest grey market premium of ₹28, as of 28 Sep 2026, 01:01 PM IST. GMP is unofficial grey market data, and the actual listing price can differ from it.
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