Maharaja & Speedex India SME IPO GMP Today and Subject 2 Price
Maharaja & Speedex India SME IPO Grey Market Premium (GMP) today stands at ₹ 0, indicating cautious or neutral market sentiment ahead of listing. The Kostak rate is currently not available, while the Subject to Sauda price is quoted at currently not available. You can check the day-wise GMP trend below to track price movement and investor sentiment over time.
Maharaja & Speedex India SME IPO is scheduled to open for subscription on September 10, 2026. The public issue aims to raise around ₹80.13 Cr. and is offered in a price band of ₹177 to ₹186 per share, with a market lot of 600 shares. Investors are closely watching subscription data and grey market trends ahead of the listing.
Table of Contents
GMP Trend Chart
Day-wise GMP Trend
| Date | GMP | ↑↓ | % | Kostak | Sub. Sauda |
|---|---|---|---|---|---|
| No GMP history available yet. | |||||
Maharaja & Speedex India SME IPO Dates
| Event | Date |
|---|---|
| Open Date | 10 Sep, 2026 |
| Close Date | 15 Sep, 2026 |
| Allotment Date | 16 Sep, 2026 |
| Refund Date | 17 Sep, 2026 |
| Credit to Demat | 17 Sep, 2026 |
| Listing Date | 18 Sep, 2026 |
Maharaja & Speedex India SME IPO Expected Listing Price
| Basis | Value |
|---|---|
| Issue Price (Upper Band) | ₹186 |
| Current GMP | ₹ 0 |
| GMP-Based Listing Estimate | Not yet available |
| Listing Date | 18 Sep, 2026 |
Disclaimer: The listing price estimate above is based purely on the current grey market premium (GMP) and is not a guaranteed prediction. GMP is an unofficial, unregulated indicator and can change significantly in the 24–48 hours before listing. Do not make investment decisions based solely on GMP.
Is Maharaja & Speedex India SME IPO GMP Reliable?
Grey market premium for Maharaja & Speedex India SME IPO should be interpreted with caution. The GMP is an unregulated, unofficial market not governed by SEBI. Here's how to read the current signal:
- Subscription rate matters: A high GMP paired with strong subscription — especially QIB (Qualified Institutional Buyer) oversubscription — is a more reliable bullish signal than GMP alone. Read our in-depth analysis: GMP vs Subscription Data — Which Predicts Listing Gains Better?
- Timing matters: GMP in the first 1–2 days of subscription is less reliable. GMP on the final subscription day and the day before listing tends to be the most accurate predictor.
- Grey market is thin: For smaller IPOs, even a handful of large orders can swing the GMP significantly. Treat low-volume GMP signals with extra caution.
- Cross-check before acting: Review the Maharaja & Speedex India SME IPO full review for a fundamentals-based assessment before making any grey market trades.
Maharaja & Speedex India SME IPO IPO Kostak Rate Explained
The Kostak rate for Maharaja & Speedex India SME IPO is currently not active. Kostak is the fixed amount a grey market buyer pays for an IPO application regardless of allotment outcome.
The Subject to Sauda price has not been quoted yet. Subject to Sauda only applies if allotment is confirmed — the buyer pays a premium on top of the issue price per lot allotted.
Grey market trading is unofficial and unregulated by SEBI. Proceed with full awareness of the associated risks.
About Maharaja & Speedex India SME IPO
Its range is split into two groups. Standard products are the stainless steel bottles used for everyday purposes. Novelty products cover tumblers, feeding bottles and gym shakers. The company offers these at several price points so that it can sell into the mass, premium and lifestyle segments rather than only one type of buyer.
It sells across India through a distribution network of 101 distributors spread over 17 states and 2 union territories, including Maharashtra, Uttar Pradesh, Rajasthan and Punjab. It describes its strengths as long standing relationships with suppliers and customers and having both manufacturing and distribution under one roof.
Strengths & Risks
Strengths
- ✓ Profit has grown sharply, from Rs 0.72 crore in FY2023 to Rs 1.08 crore in FY2024 and Rs 5.57 crore in FY2025, with Rs 8.35 crore earned in the eight months to 30 November 2025.
- ✓ EBITDA improved from Rs 1.72 crore in FY2023 to Rs 10.61 crore in FY2025 and Rs 12.53 crore in the latest period.
- ✓ Return ratios are among the highest in this batch, with RoNW of 68.03% and RoCE of 42.22%.
- ✓ Net worth has grown from Rs 1.86 crore in FY2023 to Rs 21.87 crore as on 30 November 2025.
- ✓ The company reduced its borrowing while growing, from Rs 18.04 crore in FY2025 to Rs 13.93 crore in the latest period.
- ✓ The distribution reach is wide for a company of this size, at 101 distributors across 17 states and 2 union territories.
- ✓ Selling across mass, premium and lifestyle price points lets it serve different buyers rather than depending on one segment.
- ✓ It has a long record of about 20 years, having started in 2006, and both manufactures and distributes rather than only trading.
Risks
- ⚠ Sales are not growing steadily. Total income actually fell from Rs 64.77 crore in FY2023 to Rs 61.41 crore in FY2024 before rising to Rs 93.60 crore in FY2025.
- ⚠ The financial data is old and partial for an issue opening in September 2026. The latest column is an eight month period ending 30 November 2025, not a full year, so it cannot be compared directly with the years before it.
- ⚠ The P/E is not stated in the data available to us, so the issue cannot be compared with peers on earnings from here.
- ⚠ The profit margin is thin at 5.95%.
- ⚠ Borrowing of Rs 13.93 crore is high against a net worth of Rs 21.87 crore.
- ⚠ Drinkware is a crowded consumer category with low entry barriers, competing against established national brands and against cheap imports on price.
- ⚠ A part of the money, Rs 20.38 crore, goes into plant and machinery at a wholly owned subsidiary's facility rather than into the parent company.
- ⚠ This is a fresh issue combined with an offer for sale, so a part of the money goes to the selling shareholders and not to the company.
- ⚠ Promoter holding will come down from 87.69% to 63.93% after the issue.
- ⚠ This is an SME issue. One lot is 600 shares, which is about Rs 1.12 lakh at the upper band of Rs 186, and SME shares usually trade in low volume after listing.
Frequently Asked Questions about Maharaja & Speedex India SME IPO
What is the GMP of Maharaja & Speedex India SME IPO?
The current Grey Market Premium (GMP) of Maharaja & Speedex India SME IPO is not yet started or active in the market.
What is the Kostak Price of Maharaja & Speedex India SME IPO?
Kostak rate is the profit made by selling an IPO application before allotment. The current Kostak rate for Maharaja & Speedex India SME IPO is currently not available.
What is the Subject to Sauda Price of Maharaja & Speedex India SME IPO?
Subject to Sauda is the premium amount decided if the allotment is confirmed. The current Subject to Sauda rate is currently not available.
What is the expected listing price of Maharaja & Speedex India SME IPO based on GMP?
The listing price estimate is not yet available as GMP has not been established for Maharaja & Speedex India SME IPO. Check back closer to the subscription date.
Is the GMP of Maharaja & Speedex India SME IPO increasing or decreasing?
The GMP of Maharaja & Speedex India SME IPO is currently stable. Track the day-wise GMP table above for the latest movement.
Explore Maharaja & Speedex India SME IPO Further
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