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Maharaja & Speedex India SME IPO GMP points to 16% listing pop
The SME IPO price band is set at ₹177 to ₹186 per share, and the issue opens September 10, with listing expected on September 18.
Maharaja & Speedex India launched its SME IPO subscription on September 10, 2026, drawing strong interest from net institutional investors, according to LiveMint Markets.
The IPO grey market premium (GMP) indicated a potential 16% listing gain, with the GMP noted at ₹30 as of September 10 and an estimated listing price of ₹216 per share, based on the upper price band of ₹186 plus the GMP.
On offer, the deal includes a fresh issue of 34.46 lakh shares worth ₹64.10 crore and an offer for sale of 8.62 lakh shares worth ₹16.03 crore, according to the report. The book build size is ₹80.13 crore.
Subscription data cited by LiveMint Markets showed the SME portion was subscribed about 0.25x on day one, with no subscription recorded in the Qualified Institutional Buyers category. The IPO is priced at ₹177 to ₹186 per share, the subscription period runs through September 15, allotment is expected on September 16, and listing is expected to conclude on the BSE SME on September 18.