Comparison between Earkart IPO and Speb Adhesives IPO.
Earkart IPO is a SME Bookbuilding IPO proposed to list at BSE SME while Speb Adhesives IPO is a SME Bookbuilding proposed to list at NSE SME.
| Earkart IPO | Speb Adhesives IPO | |
|---|---|---|
| Logo |  |  |
| Issue Category | SME | SME |
| Issue Type | IPO | IPO |
| Process Type | Fixed Price | Bookbuilding |
| Listing At | BSE SME | NSE SME |
| Lead Managers | Sarthi Capital Advisors Pvt.Ltd. | Unistone Capital Pvt.Ltd. |
| Registrar | Skyline Financial Services Pvt.Ltd. | MUFG Intime India Pvt.Ltd. |
| Market Maker | Rikhav Securities Ltd. | Kalpalabdhi Financials Private Limited |
| DRHP | DRHP  | DRHP |
| RHP | RHP | |
| Final Prospectus | Final Prospectus | Final Prospectus |
| Anchor Investor | Anchor Investor | |
| IPO Allotment URL | IPO Allotment URL | IPO Allotment URL |
The total issue size of Earkart IPO is up to ₹46.76 Cr whereas the issue size of the Speb Adhesives IPO is up to ₹30.72 Cr. The final issue price of Earkart IPO is ₹135.00 per share and of Speb Adhesives IPO is ₹56.00 per share.
| Earkart IPO | Speb Adhesives IPO | |
|---|---|---|
| Face Value | ₹10 per share | ₹10 per share |
| Issue Price (Lower) | ₹52.00 per share | |
| Issue Price (Upper) | ₹56.00 per share | |
| Issue Price (Final) | ₹135.00 per share | ₹56.00 per share |
| Discount (Retail) | ||
| Discount (Employee) | ||
| Market Lot Size | 1000 shares | 2000 shares |
| Fresh Issue Size | 31,30,000 shares | 43,16,000 shares |
| Fresh Issue Size (Amount) | up to ₹42.26 Cr | up to ₹24.17 Cr |
| OFS Issue Size | 3,34,000 shares | 11,70,000 shares |
| OFS Issue Size (Amount) | up to ₹4.51 Cr | up to ₹6.55 Cr |
| Issue Size Total | 34,64,000 shares | 54,86,000 shares |
| Issue Size Total (Amount) | up to ₹46.76 Cr | up to ₹30.72 Cr |
Earkart IPO opens on Sep 25, 2025, while Speb Adhesives IPO opens on Dec 01, 2025. The closing date of Earkart IPO and Speb Adhesives IPO is Sep 29, 2025, and Dec 03, 2025, respectively.
| Earkart IPO | Speb Adhesives IPO | |
|---|---|---|
| Anchor Bid Date | Nov 28, 2025 | |
| Issue Open | Sep 25, 2025 | Dec 01, 2025 |
| Issue Close | Sep 29, 2025 | Dec 03, 2025 |
| Basis Of Allotment (Tentative) | Sep 30, 2025 | Dec 04, 2025 |
| Initiation of Refunds (Tentative) | Oct 01, 2025 | Dec 05, 2025 |
| Credit of Share (Tentative) | Oct 01, 2025 | Dec 05, 2025 |
| Listing date (Tentative) | Oct 03, 2025 | Dec 08, 2025 |
| Anchor Lockin End date 1 | Jan 02, 2026 | |
| Anchor Lockin End date 2 | Mar 03, 2026 |
Earkart IPO P/E ratio is 20.48, as compared to Speb Adhesives IPO P/E ratio of 16.73.
| Earkart IPO | Speb Adhesives IPO | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Financials | Company Financials (Restated)Earkart Ltd.'s revenue increased by 35% and profit after tax (PAT) rose by 125% between the financial year ending with March 31, 2025 and March 31, 2024.
| Company Financials (Restated)Speb Adhesives Ltd.'s revenue increased by 5% and profit after tax (PAT) rose by 19% between the financial year ending with March 31, 2025 and March 31, 2024.
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| Promoter Shareholding (Pre-Issue) | 78.75 | 100 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Promoter Shareholding (Post-Issue) | 57.34 | 73.18 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| P/E Ratio | 20.48 | 16.73 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Market Cap | ₹185.68 Cr. | ₹125.80 Cr. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ROE | 34.55% | 26.30% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ROCE | 47.32% | 32.07% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Debt/Equity | 0.26 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| EPS | ₹6.59 | ₹3.35 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| RoNW | 34.55% | 26.30% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
In the Earkart IPO Retail Individual Investors (RII) are offered 17,32,000 shares while in Speb Adhesives IPO retail investors are offered 17,32,000 shares. Qualified Institutional Buyers (QIB) are offered 0 shares in Earkart IPO and 11,22,000 shares in Speb Adhesives IPO.
| Earkart IPO | Speb Adhesives IPO | |
|---|---|---|
| Anchor Investor Reservation | 0 shares | 16,04,000 shares |
| Market Maker Reservation | 1,85,000 shares | 5,38,000 shares |
| QIB | 0 shares | 11,22,000 shares |
| NII | 17,32,000 shares | 8,28,000 shares |
| RII | 17,32,000 shares | 19,32,000 shares |
| Employee | 0 shares | 0 shares |
| Others | ||
| Total | 34,64,000 shares | 54,86,000 shares |
Earkart IPO subscribed 1.28x in total, whereas Speb Adhesives IPO subscribed 2.34x.
| Earkart IPO | Speb Adhesives IPO | |
|---|---|---|
| QIB (times) | 2.06x | |
| NII (times) | 2.20x | 4.09x |
| Big NII (times) | 4.88x | |
| Small NII (times) | 2.51x | |
| RII (times) | 0.35x | 1.75x |
| Employee (times) | ||
| Other (times) | ||
| Total (times) | 1.28x | 2.34x |
