SPEB Adhesives Ltd IPO

About SPEB Adhesives Ltd

Our company was originally formed as a partnership firm in the name and style of Speb Rubber Industries and the partnership firm was converted into Private Limited company and incorporated as SPEB Adhesives Private Limited as per the provision of Companies Act, 1956, pursuant to a certificate of incorporation dated November 07, 1990 issued by the Registrar of Companies, Maharashtra. The Company was then converted into a public limited company, pursuant to a shareholder's resolution passed at the general meeting of our Company held on January 16, 2025 and consequently, the name of our Company was changed to `SPEB Adhesives Limited', pursuant to the provisions of Chapter XXI of the Companies Act and a fresh certificate of incorporation dated January 24, 2025, was issued by the ROC, Assistant Registrar of Companies/ Deputy Registrar of Companies Registrar of Companies, Central Processing Centre.

The India Adhesives Market size is estimated at 2.87 billion USD in 2024 and is expected to reach 3.76 billion USD by 2028, growing at a CAGR of 6.98% during the forecast period (2024-2028). The packaging industry, which represents one of the largest end-user segments, is witnessing remarkable growth with the sector developing at a CAGR of 22-25% according to the Packaging Industry Association of India (PIAI). The automotive sector is emerging as a crucial growth driver for the adhesive market size, with manufacturers increasingly adopting automotive adhesives-based bonding solutions to replace traditional mechanical fasteners. The passenger vehicle market, predicted to reach USD 54.84 billion by 2027, is driving demand for specialized adhesives in vehicle assembly, interior components, and structural applications. The electric vehicle (EV) segment, expected to reach USD 7.09 billion by 2025, is particularly driving innovation in adhesive technologies for battery assembly and lightweight construction applications.

Our company is engaged in the business of manufacturing solvent-based synthetic rubber adhesives. Within the synthetic rubber-based adhesive, we offer both solvent based and water-based adhesives. We primarily focus on in-house manufacturing of solvent-based adhesives, with water-based adhesives being produced on a contractual manufacturing basis. Within the solvent-based category, we primarily specialize in polychloroprene-based and SBS (styrene butadiene styrene) based adhesives, known for their high bonding strength, durability, and wide application range. Our product portfolio includes various products customized for industrial and retail applications, such as multi-purpose adhesives, spray-grade adhesives, premium bonding adhesives, Ducting and Insulation adhesives, woodworking adhesives, footwear-grade adhesives, and adhesives used in Generator Set. We follow a B2B business model, and our products are used in Hardware, Foam and Furnishing, Ducting and Insulation, Woodworking, Footwear, and Generator Set industries. To serve a diverse customer base, we operate through four major business channels, viz. Dealer-Distribution Network, Industrial Sales, Exports, and Government Supply Contracts.

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