Speb Adhesives IPO
GMP, Subscription, Price, Dates & Financial Details
Electric Equipment
Speb Adhesive Limited is a manufacturing company specializing in solvent-based synthetic rubber adhesives. The company produces both water-based and solvent-based adhesive solutions, with a strong focus on polychloroprene-based and SBS (styrene-butadiene-styrene)–based formulations.Speb Adhesive…
Open Date
Mon, 01 Dec 2025
Close Date
Wed, 03 Dec 2025
Price Band
₹ 52 – 56
Lot Size
2000
Issue Size
₹ 33.73 Cr
Minimum Investment
₹ 224,000 (4000 Shares)
Grey Market Premium Analysis
Day Wise GMP→Unofficial premium quoted in the grey market, tracked daily against the price band cap.
Grey market trading is unregulated. GMP figures are indicative only and should not be the sole basis for investment decisions - treat as a sentiment indicator, not a guarantee.
IPO Details
Speb Adhesives IPO has successfully completed its IPO process and is now listed on NSE SME Platform. According to the Red Herring Prospectus (RHP), the IPO was a book-built issue with a total issue size of ₹34 Crore, comprising a fresh issue of 43.16 Lakh equity shares aggregating to ₹24.17 Crore and an offer for sale (OFS) of 11.70 Lakh equity shares aggregating to ₹6.55 Crore by the existing shareholders.
The Speb Adhesives IPO remained open for subscription from December 01, 2025, to December 03, 2025. The basis of allotment was finalized on December 04, 2025, and the company's shares were listed on NSE SME Platform on December 08, 2025.
The company had fixed the price band at ₹52 to ₹56 per share, with a lot size of 2000 shares. Retail investors were required to make a minimum investment of ₹224,000 (based on the upper price band) to apply for one lot.
MUFG Intime India Private Limited served as the registrar to the issue. Unistone Capital Pvt Ltd acted as the Book Running Lead Managers (BRLMs) to the issue.
With the successful completion of the IPO process, Speb Adhesives Limited is now a publicly listed company on NSE SME Platform. Investors can track the company's share price, trading performance, financial results, and corporate announcements through the stock exchanges.
Speb Adhesives IPO Timeline (Tentative)
- IPO Open Date
- Mon, 01 Dec 25
- IPO Close Date
- Wed, 03 Dec 25
- Basis of Allotment
- Thu, 04 Dec 25
- Initiation of Refunds
- Fri, 05 Dec 25
- Credit of Shares to Demat
- Fri, 05 Dec 25
- Listing Date
- Mon, 08 Dec 25 — NSE & BSE
Open Date
01 December 2025
Close Date
03 December 2025
Basis Of Allotment
04 December 2025
Listing Date
08 December 2025
IPO Subscription
Check Live Subscription →The Speb Adhesives IPO has received bids for 96,18,000 shares against 38,82,000 shares offered, resulting in an overall subscription of 2.48x. the NII category is subscribed 4.74x, Retail Investors 1.75x, and QIBs 2.06x. Within the NII category, BNII is subscribed 5.86x, while SNII is subscribed 2.51x.
QIB
2.06x
NII
4.74x
BNII
5.86x
SNII
2.51x
RII
1.75x
Total
2.48x
IPO Reservations
The Retail Individual Investor (RII) category has the highest allocation with 19,32,000 shares, representing 49.77% of the total issue. Qualified Institutional Buyers (QIBs) are allocated 11,22,000 shares (28.9%), while Non-Institutional Investors (NIIs) receive 8,28,000 shares (21.33%).
| Category | Shares Offered | Shares Offered |
|---|---|---|
| Qualified Institutions | 1,122,000 | 28.9% |
| Non-Institutional | 828,000 | 21.33% |
| BNII | 552,000 | 14.22% |
| SNII | 276,000 | 7.11% |
| Retail Investors | 1,932,000 | 49.77% |
| Total | 3,882,000 | 100% |
Financials Details(₹ in Crores)
| Particular | 30 Sep 2025 | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|---|
| Assets | 31.88 | 27.27 | 20.7 | 19.89 |
| Revenue | 25.04 | 45.54 | 43.21 | 38.79 |
| Profit After Tax | 3.65 | 5.89 | 4.94 | 1.83 |
| Net Worth | 29.01 | 25.36 | 19.47 | 19.46 |
| Reserve & Surplus | 11.4 | 7.75 | 19.3 | 19.27 |
| Total Borrowings | 0 | 0 | 0 | 0 |
Financials Performance
Performance Indicators
EPS Pre
Earnings per share before the IPO.
P/E Pre
IPO Offer Price ÷ EPS Pre.
EPS Post
Expected earnings per share after the IPO..
P/E (Post Issue)
IPO Offer Price ÷ EPS Post.
Speb Adhesives Limited KPI Information
| Particular | KPI as of Mon | Mar 2024 | Mar 2023 |
|---|---|---|---|
| ROE % | 26.3 | 25.57 | 9.48 |
| ROCE % | 32.07 | 34.13 | 12.96 |
| RoNW % | 26.3 | 25.57 | 9.48 |
| Pat Margin % | 13.16 | 11.58 | 4.77 |
Peers Comparison
| Company | Face Value | PE Ratio | EPS Basic | EPS Diluted | RoNW | Net Assets |
|---|---|---|---|---|---|---|
| Speb Adhesives Ltd | 10 | 0 | 3.35 | 3.35 | 26.3 | 14.4 |
| HP Adhesives Ltd | 10 | 23.57 | 1.99 | 1.99 | 10.33 | 20.06 |
| Nikhil Adhesives Ltd | 10 | 28.13 | 3.59 | 3.59 | 13.58 | 28.1 |
| Jyoti Resins & Adhesives Ltd | 10 | 19.49 | 61.56 | 61.56 | 37.36 | 191.03 |
About Speb Adhesives Limited
Speb Adhesive Limited is a manufacturing company specializing in solvent-based synthetic rubber adhesives. The company produces both water-based and solvent-based adhesive solutions, with a strong focus on polychloroprene-based and SBS (styrene-butadiene-styrene)–based formulations.
Speb Adhesive Limited offers a diversified product portfolio that caters to multiple industrial applications. Its product range includes:
Product Portfolio
1. Multipurpose Adhesives
- SPEB-7 Multipurpose Adhesive
- SPEB-7 Multi-Fix Tube
- SPEB-7 FlooRBonD
- SPEB-7 WaLLFix
2. Spray-Grade Adhesives
- SPEB-7 SPRAYGRADE
- SPEB-7 G1
- SPEB-7 G7
3. Premium Bonding Adhesives
- SPEB-7 Premium SR-911
4. Ducting & Insulation Adhesives
- SPEB-7 Duct Fix
- SPEB-7 Duct Fix (Eco)
5. Other Specialized Adhesives
The company also manufactures adhesives for:
- Footwear
- Woodworking and furniture
- Packaging
- Automotive applications
- Generator sets
Business Model
Speb Adhesive Limited operates on a B2B (business-to-business) model, supplying its products to a wide range of industries including:
- Packaging
- Automotive
- Footwear
- Construction
- Woodworking
- Furniture manufacturing
Manufacturing Facility
The company’s production unit is located in the MIDC Industrial Area, Taloja, Raigad, Maharashtra, with an installed production capacity of 12,000 liters per day.
Workforce
As of November 20, 2025, Speb Adhesive Limited employed 41 permanent employees.
Speb Adhesives IPO Promoters
- Kirtikumar Vithlani
- Bhaumik Vithlani
- Gaurav Vithlani
- Harish Vithlani
Promoters Holding
Holding Pre Issue
100.00%
Holding Post Issue
0.00%
Speb Adhesives IPO Objective
The Company Speb Adhesives IPO proposes to utilise the Net Proceeds from the Issue towards the following objects.
- Part finance the cost of establishing new manufacturing facility to expand our production capabilities of Water based Adhesives at Survey no. 120, 121/1 and 121/2, Village Tambati, Taluka Khalapur, District Raigad, Maharashtra, India (“Proposed new facility”)
- General corporate purposes
Speb Adhesives Limited Address / Contact Details
Speb Adhesives Ltd.
Plot No. J 33,
MIDC, Taloja,Raigad,
Panvel, Maharashtra, 410208
Phone: +91 7738532223
Email: cs@speb7.com
Website: http://www.speb7.com/
IPO Snapshot
Speb Adhesives IPO Lot Size
The Speb Adhesives IPO has a lot size of 2,000 shares. Retail investors require a minimum investment of ₹2,24,000 by applying for 2 lot (4,000 shares). The maximum application allowed for the retail category is 2 lots (4,000 shares), requiring an investment of ₹2,24,000.
| Application | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 2 | 4,000 | 224,000.00 |
| Retail (Max) | 2 | 4,000 | 224,000.00 |
| S-HNI (Min) | 3 | 6,000 | 336,000.00 |
| S-HNI (Max) | 8 | 16,000 | 896,000.00 |
| B-HNI (Min) | 9 | 18,000 | 1,008,000.00 |
Issue Reservation
- QIB — 28.9%
- NII — 21.33%
- RII — 49.77%
Book Running Lead Managers
- Unistone Capital Pvt Ltd
IPO Documents & Links
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Disclaimer: This data is for informational purposes only and does not constitute investment advice.
Frequently Asked Questions
Everything you need to know before applying to an IPO.
What is the Speb Adhesives IPO?
Speb Adhesives IPO is a Book-building IPO with a total issue size of ₹33.73 crore. The Speb Adhesives IPO price band is ₹52 to 56 per share. The Speb Adhesives IPO subscription opens on Mon, Dec 1, 2025, and closes on Wed, Dec 3, 2025. The Speb Adhesives IPO will be listed on the NSE. MUFG Intime India Private Limited is the registrar for the Speb Adhesives IPO.
When will the Speb Adhesives IPO open for subscription?
The Speb Adhesives IPO opens on Mon, Dec 1, 2025 and closes on Wed, Dec 3, 2025
What is Speb Adhesives IPO Price Band?
Speb Adhesives IPO Price Band is ₹52 to 56 per share.
What is Speb Adhesives IPO Lot Size?
Speb Adhesives IPO lot size is 2000 shares, Retail investors need a minimum investment of ₹224000 based on the upper price band
What is the minimum investment for Speb Adhesives IPO?
The minimum investment for Speb Adhesives IPO is ₹224000, based on one lot of 2000 shares at the upper price band of ₹56 per share.
How to apply for Speb Adhesives IPO?
Investors can apply for the Speb Adhesives IPO through the ASBA (Application Supported by Blocked Amount) facility offered by their bank or through UPI using a SEBI-registered broker or trading app. Select the desired lot size, enter your bid within the price band, and submit the application before Wed, Dec 3, 2025. The application amount remains blocked until the Speb Adhesives IPO allotment is finalized.
What is Speb Adhesives IPO Issue Size?
Speb Adhesives IPO issue size is ₹33.73 crores.
What is the Speb Adhesives IPO Allotment Date?
Speb Adhesives IPO allotment date is Thu, Dec 4, 2025.
Who is the Speb Adhesives IPO Registrar?
The registrar for Speb Adhesives IPO is MUFG Intime India Private Limited. Investors can go to MUFG Intime India Private Limited website to check Speb Adhesives IPO allotment status, refund processing, and other IPO-related information.
What is the Speb Adhesives IPO GMP?
The Speb Adhesives IPO GMP (Grey Market Premium) is ₹0 as of Tue, Dec 2, 2025. Based on the upper price band of ₹56 per share, the estimated Speb Adhesives IPO listing price is ₹56, indicating a potential listing gain of approximately 0.00% over the issue price.
Who is the Speb Adhesives IPO Lead Manager?
The book-running lead managers (BRLMs) for the Speb Adhesives IPO are . The lead managers are responsible for managing the IPO process, including issue structuring, regulatory compliance, marketing the public issue, coordinating with investors, and ensuring a smooth listing process. For complete details, investors should refer to the Speb Adhesives IPO Red Herring Prospectus (RHP).