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| IPO Listing At | NSE SME |
| SME IPO Issue Type | Book Build Issue |
| Total Issue Size | ₹33.73 Cr |
| Reserved for Market Maker | ₹3.01 Cr |
| Net Issue Size | ₹33.73 Cr |
| Fresh Issue | ₹24.17 Cr |
| Offer for Sale | ₹6.55 Cr |
| Face Value | ₹10 Per Equity Share |
| Price Band | ₹52.00-56.00 per share |
| NSE Code | SPEB |
| Registrar | MUFG Intime India Pvt.Ltd. |
| Lead Managers |
Disclaimer: GMP is sourced from grey market dealers and is indicative only. Always conduct your own due diligence.
* Allotment, Refund, Demat Credit & Listing dates are tentative and subject to change.
Minimum bid: 4,000 shares · Multiples of 2,000 shares
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
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 |
| 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 | ||||
| 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 |
| Metric | 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. | |
