Speb Adhesives Limited IPO

Apply 0
Avoid 0

Closing in

Days
Hours
Mins
Secs

Don't Miss It! Mark Your Calender Now:


SPEB Adhesives Limited is engaged in manufacturing solvent-based synthetic rubber adhesives, catering to industrial and retail markets across India. Its product portfolio spans high-bonding polychloroprene (neoprene) and SBS-based adhesives, known for durability and application versatility. The company has established a strong presence in B2B adhesive supply chains across multiple industries.

Business Model and Customer Segments

SPEB operates on a B2B business model, supplying to industries such as hardware, foam and furnishing, ducting and insulation, woodworking, footwear manufacturing, and generator sets. To ensure uninterrupted supply in retail and distribution markets, the company follows a continuous manufacturing model, producing ahead of demand to maintain ready availability across regions.

Product Portfolio

The company specializes in solvent-based rubber adhesives manufactured in-house, while its water-based adhesives are produced through contracted manufacturers. Its offerings include multi-purpose adhesives, spray adhesives, premium bonding solutions, ducting and insulation adhesives, woodworking and footwear adhesives, and specialized grades used in generator sets.

Products are available across SKUs from 10 ml to 30 litres, with a 200-kg SKU recently added in the woodworking category.

Distribution and Sales Channels

The company services its customers through three structured channels:

i) Dealer–Distributor Network: Supplies to hardware shops, foam and flooring merchants, and specialized distributors, developed through industry exhibitions, surveys, and referrals.

ii) Industrial Sales: Direct supply to manufacturing businesses in sectors like leather goods, mattress making, signage, and vehicle coach building, acquired through trade fairs, online enquiries, and industry referrals.

iii) Government Supply Contracts: Supplies products like the customized SPEB-7 Adhesive to government institutions via the GeM portal, which are developed and approved for specific technical requirements.

Objects of the Speb Adhesives Limited IPO:

The Net Proceeds are proposed to be utilised in the following manner: 1. Part finance the cost of establishing new manufacturing facility to expand production capabilities of Water based adhesives in Maharashtra (₹20.43 cr) 2. General corporate purposes.
DRHP of Speb Adhesives Limited IPO
RHP of Speb Adhesives Limited IPO

Speb Adhesives Limited IPO Details:

Open Date: Dec 01 2025
Close Date: Dec 03 2025
Total Shares: 60,24,000
Face Value: ₹ 10 Per Equity Share
Issue Type: Book Building
Issue Size: 33.73 Cr.
Lot Size: 2000 Shares
Issue Price: ₹ 52-56 Per Equity Share
Listing At: NSE Emerge
Listing Date: Dec 08 2025

Promoters And Management:

1. Gaurav Vithlani (44), Managing Director, associated with the company since 2000, he holds a Bachelor of Legal Sciences from Government Law College. With nearly 25 years of experience in the adhesive industry, he specializes in assessing market trends, competitor strategies, and improving operational performance. He plays a key role in strategic planning and strengthening the company’s competitive positioning. 2. Kirtikumar Vithlani (70), Chairman & Whole-Time Director, a promoter since inception, he has about 35 years of industry experience. He oversees financial planning, evaluates market opportunities and risks, and guides capital allocation aligned with business objectives. His leadership ensures disciplined growth and long-term business sustainability. 3. Harish Vithlani (73), Executive Director, a promoter since inception with nearly 35 years of experience, he focuses on customer relationship management, demand forecasting, and pricing strategies to strengthen market presence. His efforts help maintain strong customer loyalty and support stable revenue growth.

Financials of Speb Adhesives Limited IPO: 

To be updated shortly

Comparison With Peers:

To be updated shortly

Lead Manager of Speb Adhesives Limited IPO:

  1. Unistone Capital Pvt Ltd

Registrar of Speb Adhesives Limited IPO:

  1. MUFG Intime India Private Limited

Discussion on Speb Adhesives Limited IPO:

Leave a Reply