Maharaja & Speedex India IPO GMP Today

Maharaja & Speedex India Limited is a drinkware manufacturing and distribution company. It is engaged in the manufacturing, branding, marketing, and distribution of stainless-steel bottles and allied drinkware products for retail and institutional customers. Its product portfolio comprises Standard Products, including stainless-steel bottles for routine use, and Novelty Products, including tumblers, feeding bottles, and gym shakers. The company also undertakes OEM and private-label manufacturing, offering customised products for corporate gifting, institutional buyers, and brand partners. Manufacturing operations are primarily undertaken through its subsidiary, Dewdrop Bottles Private Limited, which operates two facilities in Sonipat, Haryana. These facilities have an installed production capacity of approximately 45.24 lakh units annually across 223 SKUs. The company has a pan-India distribution network of 101 distributors across 17 states and two Union Territories, supported by modern trade and online sales channels. Use of proceeds: The IPO consists of both a fresh issue of shares and an offer for sale (OFS).​ Proceeds from the OFS will go to the respective selling shareholders, whereas the net proceeds from the fresh issue will be utilised for the following purposes:​ Repayment and/or pre-payment, in full or part, of certain borrowings availed by the company and its subsidiary from banks — Rs 24.10 crore Funding of capital expenditure towards purchase of plant and machineries at the existing manufacturing facility of the wholly-owned subsidiary — Rs 21.41 crore General corporate purposes