Speb Adhesives Limited
IPO Details
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The Initial Public Offering of Speb Adhesives Limited's culminated in its successful listing on Dec 08, 2025 at the NSE trading platform. The company secured 60,24,000 Shares through this capital market exercise, with 48,54,000 Shares allocated to new capital formation and ₹6.55 Cr to existing shareholder liquidity.
Investors participated within the price parameters of ₹52 to ₹56, with minimum investment requirements of 2000 shares. The subscription period from Dec 01, 2025 to Dec 03, 2025 witnessed active investor engagement across categories.
Following the subscription closure, share allotment was processed on Dec 04, 2025. The subsequent listing established a public market for the company's shares, enabling price discovery and secondary market trading for investors.
Investors can bid starting from the minimum lot size specified for this IPO, and only in multiples of that lot size. The table below shows the minimum and maximum investment for retail investors and HNIs in terms of lots, quantity, and amount.
Speb Adhesive Limited manufactures and distributes solvent-based synthetic rubber adhesives while also offering water-based options. The company specializes in polychloroprene-based and SBS-based adhesives and provides a wide range of products such as multi-purpose adhesives, spray-grade adhesives, premium bonding adhesives, ducting and insulation adhesives, woodworking and footwear-grade adhesives, and adhesives for generator sets. Operating under a B2B model, Speb Adhesive serves industries like packaging, automotive, footwear, construction, woodworking, and furniture. Its manufacturing facility is located in the MIDC industrial area of Taloja, Raigad, Maharashtra, with a production capacity of 12,000 liters per day. As of November 20, 2025, the company has 41 permanent employees.
Note : "Calculations for ‘Shares Offered’ and ‘Total Amount’ are based on the highest price in the issue price band."
- Solid Financial Strength for Sustainable Expansion : Strong and consistent financial performance provides the foundation to support future growth, invest in capacity, and enhance long-term scalability.
- Reliable Operational Network for Steady Business Delivery : A well-established distributor and customer ecosystem ensures smooth order fulfillment, repeat demand, and stable presence across diverse B2B markets.
- Experienced Leadership Driving Strategic Growth : Promoters and senior management with rich industry expertise enable efficient operations, innovation, and continual business expansion.
- High Revenue Reliance on Multipurpose Adhesives : Majority sales contribution (55.79%–64.75%) from a single category exposes the business to significant risk if demand or pricing in this segment declines.
- Dependence on Limited Raw Material Suppliers : Key inputs sourced from a concentrated supplier base (top 10 supplying ~76.74%) may lead to production disruption and cost volatility if supply issues occur.
- Regional Concentration of Manufacturing Operations : All current and future facilities being located in Maharashtra increases exposure to state-specific operational risks, potentially affecting revenue and profitability.
- Kirtikumar Vithlani
- Bhaumik Vithlani
- Gaurav Vithlani
- Harish Vithlani
Speb Adhesives Limited
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