SPEB Adhesives IPO Description – SPEB Adhesives is a manufacturing company engaged in the production of solvent-based synthetic rubber adhesives, with additional offerings in water-based adhesives manufactured on a contractual basis. The company’s product portfolio includes multi-purpose adhesives, spray-grade adhesives, premium bonding adhesives, ducting and insulation adhesives, woodworking adhesives, footwear-grade adhesives, and adhesives for generator sets. The company operates primarily through three channels – dealer-distribution network, industrial sales, and government supply contracts.
SPEB Adhesives operates from a manufacturing facility situated in Raigad, Maharashtra, with an installed production capacity of 12,000 liters per day. Products are manufactured in SKUs ranging from 10ml to 30 liters, along with a newly added 200kg SKU in the Woodworking category, catering to various industries, including hardware, foam and furnishing, ducting and insulation, woodworking, footwear, and generator manufacturing.
As of 30 September 2025, the company has a strong domestic focus, with 89.93% of revenues generated within India. As of 30 November 2025, the company has 41 permanent employees.
Promoters of SPEB Adhesives – Kirtikumar Vithlani, Bhaumik Vithlani, Gaurav Vithlani, and Harish Vithlani
Table of Contents
SPEB Adhesives Offer Details
| SPEB Adhesives IPO Dates | 1 – 3 December 2025 |
| SPEB Adhesives Issue Price | INR 52 – 56 per share |
| Fresh Issue | 48,54,000 shares (INR 25.24 – 27.18 crore) |
| Offer For Sale | 11,70,000 shares (INR 6.08 – 6.55 crore) |
| Total IPO Size | 60,24,000 shares (INR 31.42 – 33.73 crore) |
| Minimum Bid | 4,000 shares (INR 2,24,000) |
| Lot Size | 2,000 shares (INR 1,12,000) |
| Face Value | INR 10 per share |
| Individual Allocation | 35% |
| Listing On | NSE EMERGE |
SPEB Adhesives Financial Performance
| FY 2023 | FY 2024 | FY 2025 | H1 FY 2026 | |
| Revenue | 38.37 | 42.62 | 44.79 | 24.75 |
| Expenses | 36.27 | 36.57 | 37.41 | 20.13 |
| Net income | 1.83 | 4.94 | 5.89 | 3.65 |
SPEB Adhesives Offer News
- SPEB Adhesives RHP
- SPEB Adhesives Draft Prospectus
- ASBA IPO Forms
- Live IPO Subscription Status
- Highest SME IPO Subscription in 2025
SPEB Adhesives Valuations & Margins
| FY 2023 | FY 2024 | FY 2025 | |
| EPS | 0.95 | 2.59 | 3.35 |
| PE ratio | – | – | 15.52 – 16.72 |
| RONW (%) | 9.88 | 25.37 | 26.30 |
| NAV | 10.27 | 10.23 | 14.40 |
| ROCE (%) | 12.96 | 34.13 | 32.07 |
| EBITDA (%) | 6.32 | 15.32 | 17.47 |
| Debt/Equity | – | – |
SPEB Adhesives IPO GMP Today
| Date | Consolidated IPO GMP | Subject to Sauda |
| Coming soon | – | – |
SPEB Adhesives IPO Subscription – Live Updates
| Category | QIB | NII | Individual | Total |
|---|---|---|---|---|
| Shares Offered | 11,22,000 | 8,28,000 | 19,32,000 | 38,82,000 |
| 3 Dec 2025 | 2.06 | 4.74 | 1.75 | 2.48 |
| 2 Dec 2025 | 0.49 | 1.22 | 0.32 | 0.56 |
| 1 Dec 2025 | 0.00 | 0.09 | 0.13 | 0.09 |
The market maker reservation portion of 5,38,000 shares and the anchor investor portion of 16,04,000 shares are not included in the above calculations.
SPEB Adhesives IPO Allotment Status
SPEB Adhesives IPO allotment status is now available on the MUFG Intime website. Click on this link to get the allotment status.
SPEB Adhesives IPO Dates & Listing Performance
| IPO Opening Date | 1 December 2025 |
| IPO Closing Date | 3 December 2025 |
| Finalization of Basis of Allotment | 4 December 2025 |
| Initiation of refunds | 5 December 2025 |
| Transfer of shares to demat accounts | 5 December 2025 |
| IPO Listing Date | 8 December 2025 |
| Opening Price on NSE SME | Coming soon |
| Closing Price on NSE SME | Coming soon |
SPEB Adhesives Offer Lead Manager
UNISTONE CAPITAL PRIVATE LIMITED
A/305, Dynasty Business Park, Andheri Kurla Road,
Andheri East,Mumbai-400059, Maharashtra,
Phone: 022 4604 6494
Email: [email protected]
Website: www.unistonecapital.com
SPEB Adhesives Offer Registrar
MUFG INTIME INDIA PRIVATE LIMITED
C-101, 247 Park, 1st Floor, L B S Marg,
Vikhroli (West), Mumbai 400083
Tel: +91 810 811 4949
E-mail: [email protected]
Website: www.in.mpms.mufg.com
SPEB Adhesives Contact Details
SPEB ADHESIVES LIMITED
Plot No. J 33, MIDC, Taloja, Raigad,
Panvel- 410208, Maharashtra
Phone: +91 7738532223
E-mail: [email protected];
Website: www.speb7.com
IPO FAQs
What is the SPEB Adhesives offer size?
SPEB Adhesives offer size is INR 31.42 – 33.73 crores.
What is the SPEB Adhesives offer price band?
SPEB Adhesives public offer price is INR 52 – 56 per share.
What is the lot size of the SPEB Adhesives IPO?
SPEB Adhesives offer lot size is 2,000 shares.
What is the SPEB Adhesives IPO GMP today?
SPEB Adhesives IPO GMP today is INR NA per share.
What is the SPEB Adhesives IPO Subject to Sauda rate today?
SPEB Adhesives Subject to Sauda rate today is INR NA per application.