Bookbuilding IPO | ₹34 Cr | Listed at NSE SME | Mon, Dec 1, 2025 - Wed, Dec 3, 2025
Speb Adhesives IPO is a book build issue of ₹33.73 crores. The issue is a combination of fresh issue of 0.49 crore shares aggregating to ₹27.18 crores and offer for sale of 0.12 crore shares aggregating to ₹6.55 crores.
Speb Adhesives IPO bidding started from Dec 1, 2025 and ended on Dec 3, 2025. The allotment for Speb Adhesives IPO was finalized on Dec 4, 2025. The shares got listed on NSE SME on Dec 8, 2025.
Speb Adhesives IPO price band is set at ₹56 per share. The lot size for an application is 2,000. The minimum amount of investment required by an individual investor (retail) is ₹2,24,000 (4,000 shares) (based on upper price). The minimum lot size for investment in HNI is 3 lots (6,000 shares), amounting to ₹3,36,000.
Unistone Capital Pvt.Ltd. is the book running lead manager and MUFG Intime India Pvt.Ltd. is the registrar of the issue. The Market Maker of the company is Kalpalabdhi Financials Private Limited.
Refer to Speb Adhesives IPO RHP for detailed Information.
IPO Open
Mon, Dec 1, 2025
IPO Close
Wed, Dec 3, 2025
Issue Price
₹56 per share
Market Cap (Pre-IPO)
₹125.80 Cr
| IPO Date | 1 to 3 Dec, 2025 |
| Listed on | Mon, Dec 8, 2025 |
| Face Value | ₹10 per share |
| Price Band | ₹52 to ₹56 |
| Issue Price | ₹56 per share |
| Lot Size | 2,000 Shares |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Bookbuilding IPO |
| Listing At | NSE SME |
| Total Issue Size | 60,24,000 shares (agg. up to ₹34 Cr) |
| Reserved for Market Maker | 5,38,000 shares Kalpalabdhi Financials Private Limited (agg. up to ₹3 Cr) |
| Fresh Issue (Ex Market Maker) | 43,16,000 shares (agg. up to ₹24 Cr) |
| Offer for Sale | 11,70,000 shares of ₹10 (agg. up to ₹7 Cr) |
| Net Offered to Public | 54,86,000 shares (agg. up to ₹31 Cr) |
| Share Holding Pre Issue | 1,76,10,570 shares |
| Share Holding Post Issue | 2,24,64,570 shares |
| NSE Symbol | SPEB |
| ISIN | INE1CW901027 |
Speb Adhesives IPO comprises a total issue size of 60,24,000 shares. The net offer to the public is 54,86,000 shares, after excluding 5,38,000 shares allotted on a firm basis. Of the Net offer 27,26,000 (49.69%) are allocated to QIB, 8,28,000 (15.09%) allocated to NII 19,32,000 (35.22%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| QIB Shares Offered | 27,26,000 | 49.69% | 45.25% |
| − Anchor Investor Shares Offered | 16,04,000 | 26.63% | |
| − QIB (Ex. Anchor) Shares Offered | 11,22,000 | 18.63% | |
| NII (HNI) Shares Offered | 8,28,000 | 15.09% | 13.75% |
| − bNII > ₹10L | 5,52,000 | 9.16% | |
| − sNII < ₹10L | 2,76,000 | 4.58% | |
| Retail Shares Offered | 19,32,000 | 35.22% | 32.07% |
| Firm Reservations | |||
| Market Maker Shares Offered | 5,38,000 | 8.93% | |
| Total Shares Offered | 60,24,000 | 100.00% | 100.00% |
Investors can bid for a minimum of 4,000 shares and in multiples of 2,000 shares thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Individual investors (Retail) (Min) | 2 | 4,000 | ₹2,24,000 |
| Individual investors (Retail) (Max) | 2 | 4,000 | ₹2,24,000 |
| S-HNI (Min) | 3 | 6,000 | ₹3,36,000 |
| S-HNI (Max) | 8 | 16,000 | ₹8,96,000 |
| B-HNI (Min) | 9 | 18,000 | ₹10,08,000 |
Speb Adhesives IPO raises ₹8.98 crore from anchor investors. Speb Adhesives IPO Anchor bid date is November 28, 2025.
📝 Anchor Investors Letter (PDF)
| Bid Date | Fri, Nov 28, 2025 |
| Shares Offered | 16,04,000 |
| Anchor Portion (₹ Cr.) | 8.98 |
| Anchor lock-in period end date for 50% shares (30 Days) | Fri, Jan 2, 2026 |
| Anchor lock-in period end date for remaining shares (90 Days) | Tue, Mar 3, 2026 |
Speb Adhesive Limited is a company engaged in the manufacturing and distribution of solvent-based synthetic rubber adhesives.
The company offers both the water-based adhesives and solvent-based adhesives,. Within the solvent-based adhesives, it specializes in polychloroprene-based and SBS (styrene-butadiene-styrene)-based adhesives.
Its product portfolio include multi-purpose adhesives, spray-grade adhesives, premium bonding adhesives, Ducting and Insulation adhesives, woodworking adhesives, footwear-grade adhesives, and adhesives used in Generator Set.
The company follows B2B business model and sells products to diverse sectors including packaging, automotive, footwear, construction, woodworking, and furniture.
Its manufacturing facility is located at MIDC industrial area, Taloja, Raigad, Maharashtra with an installed capacity of 12,000 liters per day.
Products:
As of November 20, 2025, the company had 41 permanent employees.
Competitive Strengths
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.
| Period Ended | 30 Sep 2025 | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|---|
| Assets | 31.88 | 27.27 | 20.70 | 19.89 |
| Total Income | 25.04 | 45.54 | 43.21 | 38.79 |
| Profit After Tax | 3.65 | 5.89 | 4.94 | 1.83 |
| EBITDA | 4.88 | 7.83 | 6.53 | 2.43 |
| NET Worth | 29.01 | 25.36 | 19.47 | 19.46 |
| Reserves and Surplus | 11.40 | 7.75 | 19.30 | 19.27 |
| Amount in ₹ Crore | ||||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | 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 |
| 2 | General corporate purposes | 4.06 |
| KPI | Mar 31, 2025 |
|---|---|
| ROE | 26.30% |
| ROCE | 32.07% |
| RoNW | 26.30% |
| PAT Margin | 13.16% |
| EBITDA Margin | 17.47% |
| Price to Book Value | 4.32 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 3.35 | 3.25 |
| P/E (x) | 16.73 | 17.22 |
| Promoter Holding | 100% | 73.18% |
| Market Cap | ₹125.80 Cr. |
The Speb Adhesives IPO is subscribed 2.34 times on December 3, 2025 6:20:01 PM (Day 3). The public issue subscribed 1.75 times in the individual investors category, 2.06 times in the QIB category, and 4.09 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for | Total Application |
|---|---|---|---|---|
| QIB (Ex Anchor) | 2.06 | 11,22,000 | 23,16,000 | 4 |
| NII* | 4.09 | 8,28,000 | 33,88,000 | 160 |
| bNII (bids above ₹10L) | 4.88 | 5,52,000 | 26,96,000 | |
| sNII (bids below ₹10L) | 2.51 | 2,76,000 | 6,92,000 | |
| Individual Investor | 1.75 | 19,32,000 | 33,76,000 | 844 |
| Total | 2.34 | 38,82,000 | 90,80,000 | 1,008 |
Total Application : 1,008
*Market Maker portion is not included to NII/HNI.
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Book Running Lead Manager’s fees | 0.50 |
| 2 | Selling, Marketing and Underwriting Fees | 2.35 |
| 3 | Fees payable to Market Maker to the Offer | 0.06 |
| 4 | Fees payable to Registrar to the Offer | 0.02 |
| 5 | Fees payable for Advertising and Publishing expenses | 0.10 |
| 6 | Fees payable to Regulators including Stock Exchanges & Depositories | 0.10 |
| 7 | Payment for Printing & Stationery, Postage, etc. | 0.04 |
| 8 | Fees payable to Statutory | 0.07 |
| 9 | Auditor, Legal Advisors and other Professionals | |
| 10 | Others | 0.10 |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹56.00 |
| Open | ₹60.00 |
| Low | ₹57.00 |
| High | ₹60.00 |
| Last Trade | ₹57.00 |
Lead Manager Reports
Speb Adhesives IPO is a SME IPO of 60,24,000 equity shares of the face value of ₹10 aggregating up to ₹34 Crores. The issue is priced at ₹56 per share. The minimum order quantity is 2000.
The IPO opens on Mon, Dec 1, 2025, and closes on Wed, Dec 3, 2025.
MUFG Intime India Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
Zerodha customers can apply online in Speb Adhesives IPO using UPI as a payment gateway. Zerodha customers can apply in Speb Adhesives IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Speb Adhesives IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Speb Adhesives IPO opens on Mon, Dec 1, 2025 and closes on Wed, Dec 3, 2025.
Speb Adhesives IPO lot size is 2000, and the minimum amount required for application is ₹2,24,000, with 2 lots being the minimum application size.
You can apply in Speb Adhesives IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Speb Adhesives IPO will be done on Thursday, December 4, 2025, and the allotted shares will be credited to your demat account by Fri, Dec 5, 2025. Check the Speb Adhesives IPO allotment status.
The Speb Adhesives IPO listing date is on Mon, Dec 8, 2025.
