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SPEB Adhesives Limited is a manufacturer of solvent-based synthetic rubber adhesives, with a primary focus on polychloroprene-based and SBS (styrene-butadiene-styrene)-based products. The company operates a B2B model, offering a diverse portfolio that includes multi-purpose, spray-grade, and specialty adhesives for industrial and retail use. Its products serve various sectors such as hardware, foam and furnishing, ducting, woodworking, and footwear, distributed through a network of dealers, direct industrial sales, and government contracts.
Dec 01, 2025
Dec 03, 2025
Dec 08, 2025
SME
Closed
33.73 Cr
27.18 Cr
6.55 Cr
₹52 - ₹56
2000
The company proposes to utilize the Net Proceeds from the fresh issue for the following main objectives:
To partially finance the capital expenditure for establishing a new manufacturing facility in Raigad, Maharashtra, aimed at expanding the production capabilities for water-based adhesives, with an estimated cost of ₹20.44 crores.
To fund general corporate purposes, which may include business development initiatives, meeting operational expenses, and other business requirements, with the amount not exceeding 15% of the gross proceeds.
15.55
3.6
26.3%
32.07%
26.3%
—
13.16%
17.47%
4.32
Strong financial performance with consistent growth in revenue and profitability.
Diverse product portfolio catering to multiple industries including hardware, furnishing, and footwear.
Experienced promoters and senior management team with extensive industry knowledge.
Established dealer-distributor network ensuring wide market reach and consistent delivery.
Significant revenue dependence on the Multipurpose Products category.
High reliance on a limited number of key suppliers for critical raw materials.
Geographical concentration with manufacturing and a majority of customers located in Maharashtra.
Dependence on third-party transportation providers without formal long-term contracts.
Growing demand from key end-user industries such as packaging, automotive, and construction.
Expansion into the electric vehicle (EV) market with specialized adhesive solutions.
Increasing market shift towards sustainable and eco-friendly water-based adhesives.
Potential to expand export operations to new international markets.
Volatility in the prices of key petrochemical-based raw materials like Toluene and Synthetic Rubber.
Intense competition from large multinational corporations and domestic players in the adhesive market.
Stringent environmental regulations governing VOC emissions and chemical usage in manufacturing.
Adverse changes in macroeconomic conditions that could impact industrial demand and growth.
SPEB Adhesives Limited is a manufacturer of solvent-based synthetic rubber adhesives, with a primary focus on polychloroprene-based and SBS (styrene-butadiene-styrene)-based products. The company operates a B2B model, offering a diverse portfolio that includes multi-purpose, spray-grade, and specialty adhesives for industrial and retail use. Its products serve various sectors such as hardware, foam and furnishing, ducting, woodworking, and footwear, distributed through a network of dealers, direct industrial sales, and government contracts.
The Speb Adhesives Ltd. IPO is scheduled to open for subscription on Dec 01, 2025 and close on Dec 03, 2025. Investors can apply for shares during this period through eligible platforms.
The price band for the Speb Adhesives Ltd. IPO is ₹52 to ₹56. Investors can place bids within this range once the issue opens.
The minimum lot size for the Speb Adhesives Ltd. IPO is 2000 shares. The minimum investment amount ₹1,12,000.
The total issue size of the Speb Adhesives Ltd. IPO is approximately ₹33.73. Issue size represents the total value of shares offered to the public.
As per the latest available information, the Speb Adhesives Ltd. IPO has been subscribed 0.49 times. Subscription levels can change significantly during the offer period.
The Grey Market Premium (GMP) for the Speb Adhesives Ltd. IPO is not available as of now. GMP reflects unofficial market sentiment and should not be considered a guarantee of listing performance.
The shares of Speb Adhesives Ltd. are expected to list on stock exchanges on Dec 08, 2025, subject to completion of the allotment process and regulatory approvals.
The net proceeds from the Speb Adhesives Ltd. IPO are proposed to be used for The company proposes to utilize the Net Proceeds from the fresh issue for the following main objectives:, To partially finance the capital expenditure for establishing a new manufacturing facility in Raigad, Maharashtra, aimed at expanding the production capabilities for water-based adhesives, with an estimated cost of ₹20.44 crores., To fund general corporate purposes, which may include business development initiatives, meeting operational expenses, and other business requirements, with the amount not exceeding 15% of the gross proceeds.
Before applying for the Speb Adhesives Ltd. IPO, investors generally review the company’s business model, financial performance, valuation, industry outlook, and risk factors mentioned in the offer document.
