IPO Analysis > Speb Adhesives IPO
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SPEB Adhesives IPO Opens On 1 December ...  

A Detailed Analysis Of The Speb Adhesive IPO

The adhesive market in India is valued at around USD 2.87 billion in 2024 and is expected to touch USD 3.76 billion by 2028. Speb Adhesive Limited has been working as an adhesive manufacturer and will make its debut in the Indian stock market. 

Unistone Capital will manage the issue, whereas MUFG Intime will register it. Please check the Speb Adhesive Limited Tech IPO allotment status.


Analyse the IPO through Speb Adhesive Limited's DRHP and RHP.


Note: 50% of shares will be unlocked 30 days after allotment, while the rest will be free from lock-in restrictions after 90 days.

Speb Adhesive Limited: Understanding the Company Profile 


Particulars

Descriptions

Headquarters

Maharashtra 

Business 

Solvent-based synthetic rubber adhesives

Promoters 

Harish, Gaurav Vithlani, Kirtikumar Vithlani, and Bhaumik 

Vithlani

Competitors  

HP Adhesives


Speb Adhesive IPO Details

Get better Speb Adhesive Limited reviews through the details mentioned below: 

  • Speb Adhesive IPO Date


Event Description

Date

Opening day for IPO applications

Mon, Dec 1, 2025

Last day to submit IPO applications

Wed, Dec 3, 2025

Deadline for UPI mandate approval

5 PM on Wed, Dec 3, 2025

Expected date for allotment finalisation

Thu, Dec 4, 2025

Refunds are expected to begin

Fri, Dec 5, 2025

Shares in Demat accounts

Fri, Dec 5, 2025

Proposed listing date on the exchange

Mon, Dec 8, 2025


  • Speb Adhesive IPO Size


Particulars

Shares

Aggregate Value 

Fresh Issue (Ex-Market Maker)

4,316,000 

₹24.17 Cr

Offer for Sale

1,170,000 

₹6.55 Cr

Overall Issue 

6,024,000 

₹33.73 Cr


  • Speb Adhesive Limited IPO: Objective 


Particulars

Estimated Amount (₹ in Lakhs)

For setting up a new manufacturing unit

2,043.57

General corporate needs

Undisclosed

Total

Undisclosed



  • Speb Adhesive IPO Price And Other Takeaways


Here are the details about the Speb Adhesive Limited IPO share price:


Particulars

Description

Face value (₹)

10

Price Range (₹)

₹52 to ₹56  

Lot size (shares)

2000

Listed At 

NSE SME


  • Investors Categorisation



Investor Category

Number of Shares Reserved

QIB 

Maximum 50% of the Net Offer

Retail 

Minimum 35% of the Net Offer

Non-Institutional Investors (NII)

Minimum 15% of the Net Offer


  • Anchor Investor


Particulars

Description

Opening Date

28 November 2025 

Terms of Payment  

Full Payment on Bid


Speb Adhesive: Key Financials 


Particulars

Sept 30, 2025

2025 

2024

2023

Share Capital (₹ in lakhs)

1,761.06

1,761.06

16.81

18.44

Net Worth (₹ in lakhs)

2,901.23

2,536.04

1,946.58

1,945.71

Revenue from Operations (₹ in lakhs)

2,474.65

4,479.32

4,261.64

3,837.16

Profit Before Tax (₹ in lakhs)

490.66

813.24

664.38

252.09

Profit After Tax (₹ in lakhs)

365.19

589.46

493.68

183.13

Basic & Diluted EPS (₹)

2.07

3.35

2.59

0.95

NAV (₹)

16.47

14.40

10.23

10.27

Total Borrowings (₹ in lakhs)

Strengths and Risks

The risks and strengths of the Speb Adhesive company are given below:

Strengths 

  • Wide and Reliable Product Range: The company offers multiple adhesive solutions for different industries, giving customers many options.

  • Strong Relationships With Long-Term Clients: Years of consistent service help them maintain trust with customers.

  • Experienced Leadership and Skilled Team: The company benefits from promoters and professionals who understand adhesives deeply. 

  • Well-Spread Sales and Distribution Network: A large network of distributors and partners helps the company reach more buyers quickly.


Risks


  • Heavy Dependence on Multipurpose Products: The company earns most of its revenue from this single category, so any slowdown here can directly weaken overall business growth.

  • Reliance on Key Raw Materials: They depend on chemicals like toluene, hexane, and synthetic rubber, and delays or loss of major suppliers can disrupt production and cash flows.

  • Manufacturing Concentrated in Maharashtra: With facilities located in one region, any operational stoppage or regional issue in Maharashtra can affect production and financial stability.

  • High Dependence on Maharashtra-Based Customers: Most customers are in Maharashtra, so weak economic conditions in the state can impact sales and reduce overall revenue visibility.

Should You Apply for the Speb Adhesive Limited IPO?


As of November 27, 2025, the Speb Adhesive IPO GMP has not been updated. You can view the IPO's live GMP and the subscription status. Also, check the Speb Adhesive Limited DRHP and RHP before you click on the Apply Now button.

FAQs

1. How is the Speb Adhesive IPO review?

Speb Adhesive Limited is an adhesive manufacturer. The total IPO size is ₹ 33.73 Crore, and the listing date is 8 December 2025. For the latest details, you can also look for the GMP updates

2. What is the Speb Adhesive IPO listing date?

The IPO opening is 1 December 2025, and the closing date is 3 December 2025. Live subscription details can be monitored through FinnPick. 

3. What is the Speb Adhesive IPO price today? 

The Speb Adhesive Limited IPO price is ₹52 - ₹56 as of November 27, 2025. Also, don't forget to examine the Speb Adhesive Limited DRHP reviews. 

4. Do I need a demat account to bid for the Speb Adhesive Limited IPO?

Yes, a demat account is required to bid for the Speb Adhesive Limited IPO. Click here to get the ultimate list of the top demat account providers.
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