Speb Adhesives IPO: Full Details, Dates, Price Band, Strengths, Risks, Financials & FAQs (Complete Guide)

- November 27, 2025

The upcoming Speb Adhesives Ltd IPO has started gaining attention among retail investors, thanks to its strong manufacturing capabilities, stable financial performance, and expanding customer base. Speb Adhesives is a well-established manufacturer of synthetic rubber adhesives, focusing mainly on the solvent-based adhesive category.

In this article, we break down all IPO dates, price band, strengths, risks, valuation details, financials, FAQs, and whether investors should consider applying.

📌 Speb Adhesives IPO Key Details

Detail	Information
IPO Type	SME IPO
Bidding Dates	1 Dec 2025 – 3 Dec 2025
Minimum Investment	₹2,08,000 (for 2000 shares)
Lot Size	2000 shares
Price Band	₹52 – ₹56 per share
Issue Size	Not disclosed (as per screenshot)
Tentative Allotment Date	4 Dec 2025
Tentative Listing Date	8 Dec 2025
Face Value	₹10 per share
Exchange Listing	NSE – SME

📌 About Speb Adhesives Ltd

Speb Adhesives is a manufacturer of synthetic rubber-based adhesives used across multiple industries. The company primarily operates in the solvent-based adhesives segment but also offers water-based products. Its focus is on in-house, quality-controlled production.

Key Company Details

Founded: 1990
MD/CEO: Mr. Gaurav Vithani
Parent Organization: Speb Adhesives Ltd
Manufacturing Unit: MIDC Industrial Area, Talaja, Raigad, Maharashtra
Production Capacity: 12000 litres per day
SKUs: 30+ SKUs + newly added 200 kg SKU
Active Customers: Over 380 customers

📌 Strengths of Speb Adhesives

✔️ 1. ISO 9001:2015 Certified

The company is certified for quality management systems, which builds trust with clients and distributors.

✔️ 2. Strong Manufacturing Infrastructure

Speb operates a modern facility in MIDC Raigad with significant production capacity, enabling scalability and efficiency.

✔️ 3. Wide Product Range

The company offers multiple product sizes and variations, helping them serve customers across diverse industries.

✔️ 4. Diverse Industry Applications

Their adhesives cater to:

Hardware
Furniture
Insulation materials
Woodworking
Foam and furnishings
Generator sets
and more…

✔️ 5. Expanding Distribution Network

With over 380 active clients, Speb Adhesives also supplies directly to retailers, penetrating D2R (Direct-to-Retail) markets.

✔️ 6. Consistent Revenue Growth

The company has shown steady improvement in operating revenue and profitability since FY23.

📌 Risks & Challenges of Speb Adhesives IPO

❌ 1. SME IPO – Higher Volatility

SME IPOs generally carry:

Lower liquidity
Higher price swings
Higher risk for retail investors

❌ 2. Dependence on Solvent-based Products

Even though the company has water-based adhesives, solvent-based products dominate, which may face regulatory pressure.

❌ 3. Limited Diversification

Major revenue depends on a specific industry category—ad-hoc economic slowdowns can impact demand.

❌ 4. Competitive Market

The adhesives industry includes strong players, and price competition is common.

📊 Speb Adhesives Financial Performance

Based on the screenshots:

Revenue (₹ in Cr)

FY23: 38.37 Cr
FY24: 42.52 Cr
FY25: 44.75 Cr

➡️ Shows consistent year-on-year growth.

Total Assets (₹ in Cr)

FY23: 19.89 Cr
FY24: 20.09 Cr
FY25: 22.77 Cr

➡️ Asset base is steadily expanding, which is a positive sign of operational improvement.

Profit After Tax (PAT) (₹ in Cr)

FY23: 1.83 Cr
FY24: 4.44 Cr
FY25: 5.89 Cr

➡️ Strong profitability jump in FY24 & FY25, indicating improving margins and efficient cost control.

📌 Application Details

Category	Details
Apply As	Individual Investor
Price Band	₹52 – ₹56
Apply Range	₹2 – ₹5 Lakh
Lot Size	2000 shares

Minimum investment = ₹2,08,000
(A comparatively high entry point for retail investors)

📌 Should You Apply for Speb Adhesives IPO? (Human Recommendation)

👍 Reasons to Consider Applying

Strong financial growth (revenue + profit)
Established manufacturing & distribution network
30+ years old company with stable operations
Good certifications and customer base
Expanding presence in retail markets

👎 Reasons to Stay Cautious

High minimum investment (₹2+ lakh)
SME IPO → high volatility, low liquidity
No clear mention of valuation metrics (EPS, P/E)
Competition and regulatory risks

💡 Verdict (Balanced Opinion)

If you are a long-term investor with high risk capacity, this IPO may be a good opportunity due to solid financials and scalable business.

However, if you prefer low-risk investments, SME IPOs may not be suitable.

📌 Speb Adhesives IPO – FAQs

1. What is the issue size of Speb Adhesives IPO?

The company has not yet disclosed the exact issue size.

2. What is 'pre-apply' in this IPO?

You can apply 4 days before the IPO opens, similar to a pre-booking feature.

3. If I pre-apply, when will my order be placed?

Your order will be placed on the exchange as soon as the IPO bidding window opens, and you will receive a UPI request within 24 hours.

4. How will I know if my IPO order is placed?

You will receive a notification when your IPO order is successfully submitted.

5. What are the open and close dates of Speb Adhesives IPO?

Open: 1 December 2025
Close: 3 December 2025

6. What is the minimum & maximum lot size?

1 Lot = 2000 shares
Minimum Quantity = 1 Lot (2000 shares)
Minimum Investment = ₹2,08,000

7. What is the allotment date?

4 December 2025

8. What is the tentative listing date?

8 December 2025

9. Where will Speb Adhesives IPO be listed?

On NSE – SME Platform.

📌 Final Thoughts

Speb Adhesives IPO appears fundamentally strong with:

Solid revenue growth
Healthy profitability
Decades of manufacturing experience
Expanding customer base

But, since it’s an SME IPO, the risk level is higher, and retail investors must evaluate their risk appetite before applying.

If you’re a growth-focused investor willing to hold long term, this IPO could offer attractive potential.

Always make sure to analyze valuations once the RHP is fully available.

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