Speb Adhesives came to market through an SME IPO that opened on 1 December 2025 and closed on 3 December 2025, and the shares listed on 8 December 2025 on NSE SME. The price band was ₹52 to ₹56 per share and one lot was 2000 shares, so the minimum application was ₹1,12,000. The issue size was ₹33.73 crore. It combined a fresh issue of new shares with an offer for sale by existing shareholders.
MUFG Intime India Pvt Ltd was the registrar to the issue, and Unistone Capital Pvt Ltd was the lead manager.
As of 3 December 2025.
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Speb Adhesive Private Limited is a company concerned with manufacturing and distributing solvent-based synthetic rubber adhesives.The company offers both the water-based adhesives and solvent-based adhesives,. In the solvent-based adhesives, it specializes in polychloroprene-based and SBS (styrene-butadiene-styrene)-based adhesives.
Speb Adhesive focuses on quality, novelty, and environmental compatibility in its formulations, with a particular interest in non-toxic and environment-friendly products that respond to industrial performance standards.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 Set.The business is based on a B2B model, and it sells its products to various sectors like packaging, automotive, footwear, construction, woodworking, and furniture.
Its manufacturing facility is situated at MIDC industrial area, Taloja, Raigad, Maharashtra, with an installed capacity of 12,000 liters per day.
As described in the offer document.
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Kirtikumar Vithlani, Bhaumik Vithlani, Gaurav Vithlani, Harish Vithlani.
Work out the listing gain for this SME IPO
If the retail portion is not fully subscribed, every valid application is allotted in full. If it is oversubscribed, SEBI's rules require that as many applicants as possible receive at least one lot, so the shares are allotted by a computerised lottery across all valid applications, one lot each, until the retail portion is exhausted. Applying for more lots does not improve your chance in a lottery; it only increases what you receive if the issue is under-subscribed.
The basis of allotment document, published by the registrar on the allotment date, states the ratio: for example, one applicant in seven received one lot.
Allotment status is published by the registrar on its website, searchable by PAN, application number or demat account, and also on the exchange's website. Allotted shares are credited to the demat account the day before listing, and blocked money for unsuccessful applications is released the same day. The Rupix app can check allotment status by PAN once the registrar publishes it.
Shares list within three working days of the issue closing. On listing day the exchanges run a special pre-open session from nine o'clock, during which orders are collected and an opening price is discovered from them; trading in the share begins after that, usually around ten. The opening price is the listing price that appears on this page once the issue has listed, and the listing gain or loss is the difference between it and the issue price.
For a mainboard issue, the share then trades in the normal way with the exchange's price band for a new listing. For an SME issue, shares trade in lots rather than one at a time, and the market can be thin, so selling on listing day is not always possible at the opening price. Capital gains on shares sold within a year of allotment are short-term and taxed at the short-term rate.
Speb Adhesives IPO was a ₹33.73 crore book-built issue, comprising a fresh issue of ₹27.18 crore and an offer for sale of ₹6.55 crore. It was priced at ₹52–₹56 per share with a lot size of 2,000 shares; the minimum retail application was 4,000 shares (₹2,24,000). The IPO was open from December 1 to December 3, 2025 and was subscribed 2.48x.
Shares listed on NSE SME on December 8, 2025 at ₹60, a 7.1% premium to the issue price of ₹56. MUFG Intime India Pvt Ltd is the registrar. Unistone Capital Pvt Ltd is the book running lead manager.
The price band of Speb Adhesives IPO is ₹52 to ₹56 per share.
The lot size of Speb Adhesives IPO is 2000 shares.
The minimum investment for Speb Adhesives IPO is approximately ₹2,24,000 based on the upper price band.
The allotment date of Speb Adhesives IPO is Dec 4, 2025.
You can check Speb Adhesives IPO allotment status on the registrar or stock exchange websites using your PAN or application number after allotment. You can also check the Speb Adhesives IPO allotment status on Rupix for quick and easy access.
₹52 to ₹56 per share, against a face value of ₹10. Most applicants bid at the cut-off price, the top of the band, so that the application was valid whatever price the issuer finally fixed.
One lot was 2000 shares, and every application had to be a whole number of lots. At the top of the band that made the minimum application ₹1,12,000. After listing, SME shares also trade in lots rather than one share at a time.
₹1,12,000, for one lot of 2000 shares at the top of the price band. The amount was blocked in the applicant's bank account through ASBA or a UPI mandate while the issue was open, and released on the allotment date to applicants who were not allotted shares.
It opened on 1 December 2025 and closed on 3 December 2025.
The basis of allotment was published on 4 December 2025 by MUFG Intime India Pvt Ltd, and allotted shares were credited to demat accounts before listing.
The shares listed on 8 December 2025 on NSE SME.
The issue size was ₹33.73 crore. The fresh issue was 48,54,000 shares (aggregating up to ₹27.18 crore). The offer for sale was 11,70,000 shares (aggregating up to ₹6.55 crore).