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Earkart IPO vs Speb Adhesives IPO

Comparison between Earkart IPO and Speb Adhesives IPO.

IPO Details

Earkart IPO is a SME Bookbuilding IPO proposed to list at BSE SME while Speb Adhesives IPO is a SME Bookbuilding proposed to list at NSE SME.

 Earkart IPOSpeb Adhesives IPO
LogoEarkart IPO LogoSpeb Adhesives IPO Logo
Issue CategorySMESME
Issue TypeIPOIPO
Process TypeFixed PriceBookbuilding
Listing AtBSE SMENSE SME
Lead ManagersSarthi Capital Advisors Pvt.Ltd.Unistone Capital Pvt.Ltd.
RegistrarSkyline Financial Services Pvt.Ltd.MUFG Intime India Pvt.Ltd.
Market MakerRikhav Securities Ltd.Kalpalabdhi Financials Pvt.Ltd.
DRHPDRHP DRHP
RHPRHP
Final ProspectusFinal Prospectus Final Prospectus
Anchor InvestorAnchor Investor
IPO Allotment URLIPO Allotment URL IPO Allotment URL

Issue Size and Price

The total issue size of Earkart IPO is up to ₹46.76 Cr whereas the issue size of the Speb Adhesives IPO is up to ₹30.72 Cr. The final issue price of Earkart IPO is ₹135.00 per share and of Speb Adhesives IPO is ₹56.00 per share.

 Earkart IPOSpeb Adhesives IPO
Face Value₹10 per share₹10 per share
Issue Price (Lower)₹52.00 per share
Issue Price (Upper)₹56.00 per share
Issue Price (Final)₹135.00 per share₹56.00 per share
Discount (Retail)
Discount (Employee)
Market Lot Size1000 shares2000 shares
Fresh Issue Size31,30,000 shares43,16,000 shares
Fresh Issue Size (Amount)up to ₹42.26 Crup to ₹24.17 Cr
OFS Issue Size3,34,000 shares11,70,000 shares
OFS Issue Size (Amount)up to ₹4.51 Crup to ₹6.55 Cr
Issue Size Total34,64,000 shares54,86,000 shares
Issue Size Total (Amount)up to ₹46.76 Crup to ₹30.72 Cr

IPO Timetable

Earkart IPO opens on Sep 25, 2025, while Speb Adhesives IPO opens on Dec 01, 2025. The closing date of Earkart IPO and Speb Adhesives IPO is Sep 29, 2025, and Dec 03, 2025, respectively.

 Earkart IPOSpeb Adhesives IPO
Anchor Bid DateNov 28, 2025
Issue OpenSep 25, 2025Dec 01, 2025
Issue CloseSep 29, 2025Dec 03, 2025
Basis Of Allotment (Tentative)Sep 30, 2025Dec 04, 2025
Initiation of Refunds (Tentative)Oct 01, 2025Dec 05, 2025
Credit of Share (Tentative)Oct 01, 2025Dec 05, 2025
Listing date (Tentative)Oct 03, 2025Dec 08, 2025
Anchor Lockin End date 1Jan 02, 2026
Anchor Lockin End date 2Mar 03, 2026

Financials & KPIs

Earkart IPO P/E ratio is 20.48, as compared to Speb Adhesives IPO P/E ratio of 16.73.

 Earkart IPOSpeb Adhesives IPO
Financials

Company Financials (Restated)

Period Ended31 Mar 202531 Mar 202431 Mar 2023
Assets30.2919.2514.73
Total Income43.1931.9728.97
Profit After Tax6.883.061.31
EBITDA9.763.551.61
NET Worth19.9213.036.56
Reserves and Surplus9.4812.976.49
Total Borrowing4.964.001.21
Amount in ₹ Crore

Company Financials (Restated)

Period Ended30 Sep 202531 Mar 202531 Mar 202431 Mar 2023
Assets31.8827.2720.7019.89
Total Income25.0445.5443.2138.79
Profit After Tax3.655.894.941.83
EBITDA4.887.836.532.43
NET Worth29.0125.3619.4719.46
Reserves and Surplus11.407.7519.3019.27
Amount in ₹ Crore
Promoter Shareholding (Pre-Issue)78.75100
Promoter Shareholding (Post-Issue)57.3473.18
P/E Ratio20.4816.73
Market Cap₹185.68 Cr.₹125.80 Cr.
ROE34.5526.30
ROCE47.3232.07
Debt/Equity0.26
EPS₹6.59₹3.35
RoNW34.5526.30

Shares Offered

In the Earkart IPO Retail Individual Investors (RII) are offered 17,32,000 shares while in Speb Adhesives IPO retail investors are offered 17,32,000 shares. Qualified Institutional Buyers (QIB) are offered 0 shares in Earkart IPO and 11,22,000 shares in Speb Adhesives IPO.

 Earkart IPOSpeb Adhesives IPO
Anchor Investor Reservation0 shares16,04,000 shares
Market Maker Reservation1,85,000 shares5,38,000 shares
QIB0 shares11,22,000 shares
NII17,32,000 shares8,28,000 shares
RII17,32,000 shares19,32,000 shares
Employee0 shares0 shares
Others
Total34,64,000 shares54,86,000 shares

Bids Received (Subscription)

Earkart IPO subscribed 1.28x in total, whereas Speb Adhesives IPO subscribed 1.66x.

 Earkart IPOSpeb Adhesives IPO
QIB (times)2.06x
NII (times)2.20x4.09x
Big NII (times)4.88x
Small NII (times)2.51x
RII (times)0.35x1.75x
Employee (times)
Other (times)
Total (times)1.28x1.66x

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Compare:

Earkart IPO Vs Speb Adhesives IPO