The Speb Adhesives IPO open date is December 1, 2025, and the IPO will close on December 3, 2025. The Speb Adhesives IPO is a book-build issue. The company will raise approximately ₹33.73 crore through the IPO, which includes a fresh issue of ₹27.18 crore and an offer for sale of up to 11,70,000 equity shares with a face value of ₹10.
The Speb Adhesives IPO price band is ₹52 to ₹56 per share. The retail quota is 35%, QIB 50%, and HNI 15%. The Speb Adhesives IPO will be listed on the NSE on December 8, 2025. The allotment date for the Speb Adhesives IPO is December 4, 2025.
The company reported revenue of ₹45.54 crore in 2025, compared to ₹43.21 crore in 2024. The company reported a profit of ₹5.89 crore in 2025, compared to a profit of ₹4.94 crore in 2024. According to financials, IPO investors should apply for the IPO GMP for the long term.
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 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 | – Shares | -% |
| QIB (Ex. Anchor) | – Shares | 50% |
| NII Shares Offered | – Shares | 15% |
| Retail Shares Offered | – Shares | 35% |
Speb Adhesives IPO Anchor Investors
| Anchor Bidding Date | November 28, 2025 |
| Anchor Investors List | |
| Shares Offered | [.] Shares |
| Anchor Size | [.] 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 | ₹- |
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. |
Spareb Adhesives Limited is a company that manufactures and distributes solvent-based synthetic rubber adhesives.
The company offers both water-based and solvent-based adhesives. Within solvent-based adhesives, it specializes in polychloroprene-based and SBS (styrene-butadiene-styrene)-based adhesives.
Its product portfolio includes multi-purpose adhesives, spray-grade adhesives, premium bonding adhesives, ducting and insulation adhesives, woodworking adhesives, footwear-grade adhesives, and adhesives used in generator sets.
The company follows a B2B business model and sells products to various sectors such as packaging, automotive, footwear, construction, woodworking, and furniture.
Its manufacturing facility is located in MIDC Industrial Area, Taloja, Raigad, Maharashtra, with an installed capacity of 12,000 liters per day. Products:
Multipurpose Adhesives: SPEB-7 Multipurpose Adhesive, SPEB-7 Multi-Fix Tube, SPEB-7 FlooRBonD, SPEB-7 WaLLFix
Spray-Grade Adhesives: SPEB-7 SPRAYGRADE, SPEB-7 G1, SPEB-7 G7
Premium Bonding Adhesives: SPEB-7 Premium SR-911
Ducting and Insulation Adhesives: SPEB-7 Duct Fix and SPEB-7 Duct Fix (Eco)
As of November 20, 2025, the company had 41 permanent employees.
Competitive Strengths
Strong financial base for future growth
Consistent delivery through a reliable network
Experienced promoters and senior management team
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: cs@speb7.com
Website: http://www.speb7.com/
IPO Registrar
MUFG Intime India Pvt. Ltd.
Phone: +91-22-4918 6270
Email: spebadhesives.ipo@in.mpms.mufg.com
Website: https://in.mpms.mufg.com/Initial_Offer/public-issues.html