Speb Adhesives IPO Details
| IPO Open Date | December 1, 2025 |
| IPO Close Date | December 3, 2025 |
| Face Value | ₹10 Per Equity Share |
| IPO Price Band | ₹52 to ₹56 Per Share |
| Issue Size | Approx ₹33.73 Crores |
| Fresh Issue | Approx ₹27.18 Crores |
| Offer for Sale: | Approx 11,70,000 Equity Shares |
| Issue Type | Book Build Issue |
| IPO Listing | NSE SME |
| DRHP Draft Prospectus |  |
| RHP Draft Prospectus | |
Speb Adhesives IPO Review & Key Points
- Review: Neutral
- Rating: 2
Speb Adhesives IPO Market Lot
The Speb Adhesives IPO minimum market lot is 4,000 shares with ₹2,24,000 application amount.
| Application | Lot Size | Shares | Amount |
| Retail Minimum | 2 | 4,000 | ₹2,24,000 |
| Retail Maximum | 2 | 4,000 | ₹2,24,000 |
| S-HNI Minimum | 3 | 6,000 | ₹3,36,000 |
| S-HNI Maximum | 8 | 16,000 | ₹8,96,000 |
| B-HNI Minimum | 9 | 18,000 | ₹10,08,000 |
IPO Reservation
| Investor Category | Share Offered | -% Shares |
| Anchor Investor | 16,04,000 Shares | 26.63% |
| QIB (Ex. Anchor) | 11,22,000 Shares | 18.63% |
| NII Shares Offered | 8,28,000 Shares | 13.75% |
| Retail Shares Offered | 19,32,000 Shares | 32.07% |
Speb Adhesives IPO Anchor Investors
| Anchor Bidding Date | November 28, 2025 |
| Anchor Investors List | |
| Shares Offered | 16,04,000 Shares |
| Anchor Size | 8.98 Cr. |
| lock-in period end date 50% shares (30 Days) | January 3, 2026 |
| lock-in period end date 50% shares (90 Days) | March 4, 2026 |
Speb Adhesives IPO Dates
The Speb Adhesives IPO date is December 1 and the close date is December 3. The Speb Adhesives IPO allotment will be finalized on December 4 and the IPO listing on December 8.
| IPO Open Date: | December 1, 2025 |
| IPO Close Date: | December 3, 2025 |
| Basis of Allotment: | December 4, 2025 |
| Refunds: | December 5, 2025 |
| Credit to Demat Account: | December 5, 2025 |
| IPO Listing Date: | December 8, 2025 |
| IPO Bidding Cut-off Time: | December 3, 2025 – 5 PM |
Promoters and Holding Pattern
The promoters of the company are Kirtikumar Vithlani, Bhaumik Vithlani, Gaurav Vithlani and Harish Vithlani.
| Particular | Shares | % Share |
| Promoter Holding Pre Issue | 1,76,10,570 | 100% |
| Promoter Holding Post Issue | 2,24,64,570 | -% |
Objects of the Issue & Utilisation of proceeds
| Purpose | Crores |
| Part finance the cost of establishing new manufacturing facility to expand the 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”); | ₹20.44 |
| General Corporate Purpose | ₹- |
About Speb Adhesives IPO
Speb Adhesive Limited is one of the leading companies that manufactures solvent-based synthetic rubber adhesives. The company provides solvent-based and water-based adhesives for synthetic rubber-based adhesives. Within solvent-based adhesives, the company mainly focuses on polychloroprene-based and SBS (styrene-butadiene-styrene)–based adhesives, which are famous for their durability, strong building, and use in multiple applications.
Its product portfolio consists of a wide range of adhesives, including spray-grade adhesives, premium bonding adhesives, ducting and insulation adhesives, woodworking adhesives, footwear-grade adhesives, and adhesives for generator sets. Its products are used in many industries, such as hardware, foam and furnishing, ducting and insulation, woodworking, footwear, and generator sets. Taloja, Raigad, Maharashtra, is where its manufacturing is situated, with an installed capacity of 12,000 liters per day.
Speb Adhesives IPO Company Financial Report
Amount ₹ in Crores
| Period Ended | Revenue | Expense | PAT | Assets |
| 2023 | ₹38.79 | ₹36.27 | ₹1.83 | ₹19.89 |
| 2024 | ₹43.21 | ₹36.57 | ₹4.94 | ₹20.70 |
| 2025 | ₹45.54 | ₹37.41 | ₹5.89 | ₹27.27 |
| September 2025 | ₹25.04 | ₹20.13 | ₹3.65 | ₹31.88 |
Speb Adhesives IPO Valuation – FY2025
Check Speb Adhesives IPO valuations detail like Earning Per Share (EPS), Price/Earning P/E Ratio, Return on Net Worth (RoNW), and Net Asset Value (NAV) details.
| KPI | Values |
| ROE: | 26.30% |
| ROCE: | 32.07% |
| EBITDA Margin: | 17.47% |
| PAT Margin: | 13.16% |
| Debt to equity ratio: | – |
| Earning Per Share (EPS): | ₹3.35 (Basic) |
| Price/Earning P/E Ratio: | N/A |
| Return on Net Worth (RoNW): | 26.30% |
| Net Asset Value (NAV): | ₹14.40 |
Peer Group Comparison
| Company | EPS | PE Ratio | RoNW % | NAV | Income |
| HP Adhesives Limited | 1.99 | 23.57 | 10.33% | 20.06 | 252.87 Cr. |
| Nikhil Adhesives Limited | 3.59 | 28.13 | 13.58% | 28.10 | 584.59 Cr. |
| Jyoti Resins & Adhesives Limited | 61.56 | 19.49 | 37.36% | 191.03 | 284.12 Cr. |
IPO Lead Managers aka Merchant Bankers
- Unistone Capital Pvt. Ltd.
Company Address
Speb Adhesives Ltd.
Plot No. J 33,
MIDC, Taloja,
Raigad,
Panvel, Maharashtra, 410208
Phone: +91 7738532223
Email: [email protected]
Website: http://www.speb7.com/
IPO Registrar
MUFG Intime India Pvt. Ltd.
Phone: +91-22-4918 6270
Email: [email protected]
Website: https://in.mpms.mufg.com/Initial_Offer/public-issues.html
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