Speb Adhesives share price locked in 5% lower circuit after premium listing

Speb Adhesives shares were locked in 5% lower circuit after listing at a premium on NSE SME today. Speb Adhesives share price today opened at ₹60, which is 7.14% higher than the issue price of ₹56.

Speb Adhesives IPO started on Monday, December 1, and ended on Wednesday, December 3. Speb Adhesives IPO price band has been established at ₹52 to ₹56 per equity share, each having a face value of ₹10. Investors may place bids starting from a minimum of 2,000 equity shares and in increments of 2,000 shares thereafter. Speb Adhesives IPO subscription status was 2.34 times on the last bidding day as per chittorgarh.com

Speb Adhesives Limited specializes in the manufacturing and distribution of synthetic rubber adhesives that are solvent-based. The company offers both water-based and solvent-based adhesive alternatives. Among its solvent-based products, it emphasizes adhesives based on polychloroprene and SBS (styrene-butadiene-styrene).

The product lineup includes versatile adhesives, spray-grade products, premium bonding adhesives, adhesives for insulation and ductwork, woodworking adhesives, footwear-grade adhesives, and those designed for generator sets. Functioning under a B2B business model, the company delivers its products to various sectors, including packaging, automotive, footwear, construction, woodworking, and furniture.

In FY25, the company witnessed steady growth, achieving a 5% rise in revenue and a 19% increase in profit after tax compared to the prior year. The recorded EBITDA margin was 17.47%, while the PAT margin stood at 13.16%.

Retail investors need to apply for a minimum of 4,000 shares, which corresponds to an investment of ₹2.24 lakh at the upper price band. The allocation framework for this issue follows the standard SME model: up to 50% for QIBs, at least 35% for retail investors, and a minimum of 15% for NIIs.

Speb Adhesives IPO details

The Speb Adhesives IPO consists of a fresh issue worth ₹27.18 crore and an offer for sale amounting to ₹6.55 crore. The bulk of the IPO proceeds— ₹20.44 crore—will be directed towards the construction of a new manufacturing facility in Raigad to expand the capacity for water-based adhesives. The remaining funds will be used for general corporate purposes.

Unistone Capital Pvt. Ltd. is acting as the book-running lead manager, while MUFG Intime India Pvt. Ltd. functions as the issue's registrar. The Market Maker for the firm is Kalpalabdhi Financials Private Limited.

Speb Adhesives IPO GMP today

Speb Adhesives IPO GMP today or grey market premium was ₹0, which meant shares were trading at their issue price of ₹56 with no premium or discount in the grey market according to investorgain.com

'Grey market premium' indicates investors' readiness to pay more than the issue price.

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