Speb Adhesives IPO
Open SmeCurrent GMP
₹0 (0.00%)
Price Band
₹ 52 – 56
Lot Size
2000
Issue Size
₹33.73 Cr
Minimum Investment
₹224000 (4000 Shares)
Listing Date
08 December 2025
Subscription
2.48x
About the Company
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.
Promoters
- Kirtikumar Vithlani
- Bhaumik Vithlani
- Gaurav Vithlani
- Harish Vithlani
Promoters Holding
Holding Pre Issue
100.00%
Holding Post Issue
0.00%
Objects of the Issue
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
Address / Contact Info
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
IPO Timeline (Tentative)
IPO Open Date
Monday, 01 December 2025
IPO Close Date
Wednesday, 03 December 2025
Basis of Allotment
Thursday, 04 December 2025
Initiation of Refunds
Friday, 05 December 2025
Credit of Shares to Demat
Friday, 05 December 2025
Listing Date
Monday, 08 December 2025 — NSE & BSE
Important Dates
Open Date
01 December 2025
Close Date
03 December 2025
Basis Of Allotment
04 December 2025
Listing Date
08 December 2025
Financial Performance (₹ 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 |
EPS Pre
3.35%
EPS Post
3.25%
P/E Pre
16.73
P/E (Post Issue)
17.22x
Company Financial Information
KPI Information (₹ in Crores)
| Particular | KPI as of Mon | Mar 2024 | Mar 2023 |
|---|---|---|---|
| ROE % | 26.3 | 25.57 | 9.48 |
| ROCE % | 32.07 | 34.13 | 12.96 |
| Debt / Equity | 0 | 0 | 0 |
| RoNW % | 26.3 | 25.57 | 9.48 |
| PbW | 0 | 0 | 0 |
| Pat Margin % | 13.16 | 11.58 | 4.77 |
Return Ratio
IPO Reservations
| Category | Shares Offered | Shares Offered % | Max Allotee |
|---|---|---|---|
| Qualified Institutions | 1122000 | 28.9 | 0 |
| Non-Institutional | 828000 | 21.33 | 0 |
| BNII | 552000 | 14.22 | 0 |
| SNII | 276000 | 7.11 | 0 |
| Retail Investors | 1932000 | 49.77 | 0 |
| Total | 3882000 | 100 | 0 |
Subscription Status ( Wed, 03 Dec 25 01:49 PM)
| Category | Shares Offered | Shares Bid For | Subscription (x) |
|---|---|---|---|
| Qualified Institutions | 1122000 | 2316000 | 2.06x |
| Non-Institutional | 828000 | 3926000 | 4.74x |
| BNII | 552000 | 3234000 | 5.86x |
| SNII | 276000 | 692000 | 2.51x |
| Retail Investors | 1932000 | 3376000 | 1.75x |
| Total | 3882000 | 9618000 | 2.48x |
Subscription figures are updated periodically and may change until issue closing. Data reflects bids placed across exchanges.
Peer Comparision
| Company | Face Value | PE Ratio | EPS Basic | EPS Diluted | RoNW | Net Assets |
|---|---|---|---|---|---|---|
| Speb Adhesives Ltd | 10 | 0.00 | 3.35 | 3.35 | 26.30 | 14.40 |
| 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 | 28.10 |
| Jyoti Resins & Adhesives Ltd | 10 | 19.49 | 61.56 | 61.56 | 37.36 | 191.03 |
Lot Size & Investment Details
| 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 |
Registrar
MUFG Intime India Private Limited ((Link Intime)
91-22-4918 6270
ipo.helpdesk@in.mpms.mufg.com
https://in.mpms.mufg.com/home.html
Book Running Lead Managers
- Unistone Capital Pvt Ltd
RHP Document
DRHP Document
Disclaimer: This data is for informational purposes only and does not constitute investment advice. Figures shown are illustrative sample data.
Frequently Asked Questions
Everything you need to know before applying to an IPO.
Speb Adhesives IPO is a Book-building IPO worth ₹33.73 crores. The price band is ₹52 to 56 per share. The IPO opens on Mon, Dec 1, 2025 and closes on Wed, Dec 3, 2025. It will be listed on BSE and NSE. MUFG Intime India Private Limited ((Link Intime) is the registrar.
The Speb Adhesives IPO opens on Mon, Dec 1, 2025 and closes on Wed, Dec 3, 2025
Speb Adhesives IPO Price Band is ₹52 to 56.
Speb Adhesives IPO lot size is 2000, and the minimum amount required for application is ₹224000.
The minimum investment for Speb Adhesives IPO is approximately ₹224000 based on the upper price band.
To apply for the Speb Adhesives IPO, investors can use the ASBA (Application Supported by Blocked Amount) process via their bank's net banking or apply through UPI using a registered broker or trading app. The IPO is available in retail, HNI, and institutional investor categories. Investors must select the lot size, enter bid details within the price band, and submit their application before the IPO closing date of Wed, Dec 3, 2025. After submission, funds are blocked until the basis of allotment of Speb Adhesives IPO is finalised.
Speb Adhesives IPO issue size is ₹33.73 crores.
Speb Adhesives IPO allotment date is Sat, Jun 27, 2026.
The registrar for Speb Adhesives IPO is MUFG Intime India Private Limited ((Link Intime). Investors can go to MUFG Intime India Private Limited ((Link Intime) website for IPO allotment status, refund processing, and other queries related to Speb Adhesives IPO through their official website or helpline.
The Speb Adhesives IPO GMP (Grey Market Premium) is ₹0 as of Mon, Dec 8, 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 31% over the issue price.