Stainless Steel Drinkware - Listed on 18 September 2026
Maharaja & Speedex India (Stainless Steel Drinkware) closed its IPO window in 2026 and listed on NSE and BSE on 18 September 2026 at an upper band issue price of Rs 186, opening at Rs 250 for a listing gain of +34.4% and closing day one at Rs 265.5 (+42.7% on closing basis). The IPO was subscribed 32.49x overall - QIB 48.82x, HNI/NII 40.67x, Retail 19.65x. The total issue size was Rs 80.13 Cr (Fresh Issue Rs 64.1 Cr, OFS Rs 16.03 Cr). IPO GMP data, subscription trends across Day 1 - Day 3 and Nifty performance around the listing window are detailed below.
Stainless Steel Drinkware
Maharaja & Speedex India operates in the Stainless Steel Drinkware space. The company’s listed profile is shaped by its operating niche, customer demand and ability to convert that demand into steady cash flows. Investors should read its exchange filings alongside the headline listing numbers for a fuller view of the business.
Issue structure, listing outcome and context
The Maharaja & Speedex India issue was offered at an upper price of Rs 186 and raised approximately Rs 80.13 crore. The final outcome reflected a mix of subscription demand, valuation, market conditions and the company’s own operating story. Fresh issue and offer-for-sale details, where available, are shown in the issue metrics below.
Number of times each investor category subscribed by close of Day 3.
How overall subscription built up across the three-day issue window.
Grey market premium (GMP) tracked day-by-day across the IPO window. Absolute GMP is the premium in rupees over the upper issue price; GMP % is that premium as a percent of the issue price.
| Day | GMP (Rs) | GMP % |
|---|---|---|
| Day 1 | Rs 21 | +11.29% |
| Day 2 | Rs 30 | +16.13% |
| Day 3 | Rs 30 | +21.51% |
| Day 4 | Rs 40 | +21.51% |
| Day 5 | Rs 40 | +15.05% |
Comparison between market-based GMP prediction and IPOGyani's AI-powered listing gain prediction.
How the broader market moved around the Maharaja & Speedex India IPO window. Helpful for isolating how much of the listing gain came from company fundamentals vs. market tailwind.
Maharaja & Speedex India IPO listed at +34.4% versus the upper issue price of Rs 186 on 18 September 2026.
Maharaja & Speedex India IPO was subscribed 32.49x overall. QIB portion was subscribed 48.82x, HNI / NII 40.67x and Retail 19.65x.
IPO GMP started at Rs 21 on Day 1 and moved to Rs 40 by the close of the issue window. See the day-by-day GMP table above for the full trajectory.