Speb Adhesives IPO Subscription Status: IPO Sees Muted Demand asOverall Subscription Reaches Just 0.49 Times on Day Two

Tuesday, December 02, 2025: The Speb Adhesives initial public offering (IPO) has witnessed a muted investor turnout on the second day of its bidding. As of December 2, 2025, 5:10 pm, the IPO has been subscribed to only 0.49 times. 

Speb Adhesives Subscription Detailsas of Day 2 

The subscription of Speb Adhesives’ initial public offering has been led by Non-Institutional Buyers. The institutional buyers have subscribed 00.81 times so far. This means that for the 8,28,000 shares offered, they have subscribed for only 6,70,000 shares. Its subcategory bNII (bids above 10L) has subscribed 1.08 times while sNII (bids below 10L) has subscribed 0.27 times.

The demand by Individual Investors (IND category bidding for 2 Lots) is muted as they have subscribed only 0.35 times so far. Response from QIB (Ex Anchor) is also muted, with a 0.49 times subscription. This means that for the 11,22,000 shares offered, they have subscribed only for 550,000 shares. Response from Anchor Investors and Market Maker, while positive at full subscription, seems muted.

Speb Adhesives Key Details of the IPO 

The IPO will remain open until 5:00 PM on December 03, 2025. The price band for the same is fixed at ₹52 to ₹56 per share with a minimum lot size of 2,000 shares. It is a book build issue of ₹33.73 crores. It combines a fresh issue of 0.49 crores aggregating ₹27.18 crores and an offer for sale of 0.12 crores shares aggregating to ₹6.55 crores. The shares will be listed on the NSE SME Platform on Monday, December 8, 2025. The proceeds from the IPO will be utilised to establish a new manufacturing facility, which will help the company expand its production capabilities, and for general corporate purposes.

Speb Adhesives Anchor Investor Allocation

Before its IPO went public for bidding, SpebAdhesives’ raised money through anchor allocation. The allocation was done on November 28, 2025. The company raised about ₹8.98 from the allocation. It consisted of 16,04,000 shares at a price of ₹56 per equity share. The share price includes a ₹10 face value and a ₹46 premium. Major participants included Compact Structure Fund, which took 1,244,000 shares, 77.56% of the Anchor Investor Portion, and Krushnam Nexus Capital Scheme 1 and North Star Opportunities Fund VCC-Bull Value Incorporated VCC Sub-Fund, each of which took 1,80,000 or 11.22% of the Anchor Investor Portion.

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