This issue listed on 18 Sep 2026 — grey-market quoting band ho chuki hai. Final unofficial premium +₹28 (+15.1%) tha, actual debut see year archive. Compare the two to judge how honest the street signal was.
Maharaja & Speedex India commands a grey-market premium of ₹28 (+15.1% of the ₹186 upper band), about ₹16,800 per lot of 600 shares. Dealers are holding the line: ₹28 unchanged across 2 tracked sessions, a stand-off between grey demand and issue pricing. Books show 32.41x total subscription (QIB 48.82x, NII 40.32x, retail 19.65x). Institutions are carrying this issue — QIB demand near 48.82x is the smart-money leg that grey quotes usually follow, not lead. This is an SME issue on NSE Emerge/BSE SME — thinner grey-market depth than mainboard, so small dealer shifts move the quote more. The ₹111,600+ minimum ticket keeps small savers out, so SME grey quotes swing harder on fewer hands. This issue has already listed — compare the debut against the premium trail above to judge how honest the street signal was.
Unofficial street quote — treat as sentiment alongside subscription breadth and fundamentals, never as a promised listing price.
| Date | GMP | Est. Gain |
|---|---|---|
| 19 Sep | +₹28 | +15.1% |
| 18 Sep | +₹28 | +15.1% |
Est. gain = GMP as % of the upper band price (indicative listing premium).
Grey Market Premium is an unofficial, off-exchange quote. SEBI does not recognise grey-market trading; the actual listing price is decided by order-book demand on debut day.
| Price Band | ₹177 - ₹186 |
|---|---|
| Lot Size | 600 shares |
| Issue Size | ₹80 Cr |
| Opening Date | 10 Sep 2026 |
| Closing Date | 15 Sep 2026 |
| Listing Date | 18 Sep 2026 |
| Subscription | 32.41x |
The last unofficial grey market premium for Maharaja & Speedex India IPO was ₹28 (+, frozen at listing). Grey market quoting stops once an issue lists.
Grey market premium is a street quote that reacted to subscription momentum and market mood — the final unofficial premium was ₹28, frozen once the issue listed. It was never guaranteed.
No. GMP is an unofficial sentiment indicator that can change quickly. The actual listing price is decided by regular order-book demand on the exchanges on debut day. For Maharaja & Speedex India, the book stands at 32.41x overall with QIB demand at 48.82x — read that breadth next to the premium, not the premium alone.
The full report with subscription status, RHP financials, strengths and data-based analysis signal is on the Maharaja & Speedex India IPO detail page.
Read the full Maharaja & Speedex India IPO report →
Last updated: 18 Sep 2026 IST