Shares of Maharaja & Speedex India hit the 5 percent upper circuit limit on Friday after making a 34.41 percent gain on their listing debut. According to latest reports, the stock opened at ₹250 per share and quickly surged to ₹262.50, representing a 41.13 percent premium over the IPO issue price. The counter hit a high of ₹262.50 and a low of ₹240, with 22.75 lakh shares changing hands during the trading session.
The Maharaja & Speedex India IPO was valued at ₹80.13 crore and comprised a fresh issue of 34.46 lakh shares worth ₹64.10 crore and an offer for sale (OFS) of 8.62 lakh shares valued at ₹16.03 crore. As reported by Business Standard, the issue was offered in a price band of ₹177-186 per share, with the stock listed at ₹250 per share, representing a 34.41 percent premium over the issue price. The IPO opened for bidding on 10 September 2026 and closed on 15 September 2026, with the company raising ₹22.82 crore from anchor investors before listing.
The IPO demonstrated strong investor interest with an overall subscription of 32.41 times. According to Business Standard, the issue received 19.65 times subscription from individual investors, 48.82 times from qualified institutional buyers (QIBs), excluding the anchor portion, and 40.32 times from non-institutional investors (NIIs). In the grey market, the Maharaja & Speedex India IPO was commanding a premium of 15 percent.
Maharaja & Speedex India is a Delhi-based manufacturer and marketer of stainless-steel consumer products, primarily under the Speedex brand. The company's 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 and recorded revenue from operations of ₹122.74 crore and net profit of ₹15.34 crore for the financial year ended 31 March 2026. Operations are supported by its wholly-owned subsidiary, Dewdrop Bottles Private Limited, which operates two manufacturing facilities in Sonipat, Haryana, and features a pan-India distribution network comprising 101 distributors across 17 states and 2 union territories.
