THIS IS A PUBLIC ANNOUNCEMENT FOR INFORMATION PURPOSES ONLY AND IS NOT A PROSPECTUS ANNOUNCEMENT AND DOES NOT CONSTITUTE AN INVITATION OR TO ACQUIRE, PURCHASE OR SUBSCRIBE TO SECURITIES. NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY OUTSIDE INDIA.

Initial Public Offer of equity shares on the Emerge Platform of National Stock Exchange of India Limited ("NSE Emerge" or "NSE") in compliance with Chapter IX of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended ("SEBI ICDR Regulations").

SPEB ADHESIVES LIMITED

Our company was originally formed as a partnership firm in the name and style of "M/s. 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. For details of incorporation, change of name and registered office of our Company, please refer to chapter titled "General Information" and "History and Certain Corporate Matters" beginning on page 76 and 197 respectively of the Prospectus.

3. The Price/Earnings ratio based on diluted EPS for Fiscal 2025 for our Company at the upper end of the Price Band is 16.72 times.

4. Weighted Average Return on Net Worth for fiscals 2025, 2024 and 2023 is 23.25%.

5. The Weighted average cost of acquisition compared to floor price and cap price.

6. We depend on our Multipurpose Products category for a significant portion of our revenues (55.79%, 59.02%, 62.01%, and 64.75% of our revenue from operations for the period ended September 30, 2025 and Fiscal Year March 31, 2025, March 31, 2024, and March 31, 2023).

7. We rely on the availability of Toluene, Hexane, Synthetic Rubber and other raw materials, as well as third-party suppliers and manufacturers, for the uninterrupted supply of raw materials. We do not have continuing or exclusive arrangements with any supplier, and our top 10 suppliers contribute to more than 76.74% of our total raw material and supply costs for the period ended September 30, 2025. The loss of key suppliers delays in raw material deliveries could adversely impact our business, financial condition, results of operations, and cash flows.

8. Our existing and proposed manufacturing facility situated in Maharashtra, which exposes us to regional risks and risks in relation to our manufacturing process. Any disruption, slowdown, or shutdown in our manufacturing operations could adversely affect our business, results of operations, financial condition and cash flows.

9. Our revenues are highly dependent on customers primarily located in Maharashtra. Any decline economic health in Maharashtra could adversely affect our business, financial condition and results of operations.

10. We are dependent on third party transportation providers for delivery of raw materials to our company from our suppliers and delivery of our finished products to our customers. We have not entered into any formal contracts with our transport providers and any failure on part of such service providers to meet their obligations could adversely affect our business, financial condition and results of operation.

11. A majority of our revenue from operations is from our top 10 customers (which accounted for more than 39.39%, 38.14%, 36.61%, and 40.22% of our total revenue from operations for the period ended September 30, 2025, and Fiscal Year ended March 31, 2025, March 31, 2024, and March 31, 2023). Loss of any such customers or reduction in business or demand from such customers will have a significant adverse impact on our business and results of operation.

12. Our Company is yet to place orders for the plant and machinery for the proposed manufacturing unit. Any delay in placing orders or procurement of such plant and machinery may delay the schedule of implementation and possibly increase the cost of commissioning the manufacturing unit.

13. The BRLM associated with the Offer have handled 30 public issues in the past three years, out of which five issues were closed below the offer price on listing date.

This Offer was made through the Book Building Process, in terms of Rule 19(2)(b) of the Securities Contracts (Regulation) Rules, 1957, as amended ("SCRR") read with Regulation 229 of the SEBI ICDR Regulations and in compliance with Regulation 253 of the SEBI ICDR Regulations wherein not more than 50.00% of the Net Offer was made available for allocation on a proportionate basis to Qualified Institutional Buyers ("QIBs") (the "QIB Portion"), provided that our Company in consultation with the BRLM allocated up to 60.00% of the QIB Portion to Anchor Investors on a discretionary basis ("Anchor Investor Portion"). One-third of the Anchor Investor Portion was reserved for domestic Mutual Funds, subject to valid Bids being received from the domestic Mutual Funds at or above the Anchor Investor Allocation Price in accordance with the SEBI ICDR Regulations. Further, 5.00% of the Net QIB Portion was made available for allocation on a proportionate basis to Mutual Funds only, and the remainder of the Net QIB Portion was made available for allocation on a proportionate basis to all QIB Bidders, including Mutual Funds, subject to valid Bids being received at or above the Offer Price. Further, not less than 15.00% of the Net Offer was made available for allocation on a proportionate basis to Non-Institutional Investors out of which (a) one-third of such portion was reserved for applicants with application size of more than Rs. 2.00 lakhs and up to Rs. 10.00 lakhs; and (b) two third of such portion was reserved for applicants with application size of more than Rs. 10.00 lakhs, provided that the unsubscribed portion in either of such subcategories may be allocated to applicants in the other sub-category of Non-Institutional Investors and not less than 35.00% of the Net Offer was available for allocation to Individual Investors in accordance with the SEBI ICDR Regulations, subject to valid Bids being received from them at or above the Offer Price. All Potential Bidders, other than Anchor Investors, are required to participate in the Offer by mandatorily utilising the Application Supported by Blocked Amount ("ASBA") process by providing details of their respective ASBA Accounts and UPI ID in case of UPI Bidders, if applicable, in which the corresponding Bid Amounts were blocked by the Self Certified Syndicate Banks ("SCSBs") or by the Sponsor Bank(s) under the UPI Mechanism, as the case may be, to the extent of respective Bid Amounts. Anchor Investors were not permitted to participate in the Offer through the ASBA process. For details, see "Offer Procedure" on page 316 of the Prospectus. Provided further that for the purpose of public issue by an issuer to be listed /listed on SME exchange made in accordance with Chapter IX of these regulations, the words "retail individual investors" shall be read as words "individual investors who applies for minimum application size"

The investors are advised to refer to the Prospectus for the full text of the Disclaimer clause pertaining to NSE. For the purpose of the Offer, the Designated Stock Exchange will be the NSE. The trading is proposed to be commenced on or about Monday, December 08, 2025*.

The bidding for Anchor Investors opened and closed on Friday, November 28, 2025. The Company received 03 Anchor Investor Application Forms from 03 Anchor Investors for 23,20,000 Equity Shares. Such 03 Anchor Investors through 03 Anchor Investor Application Forms were allocated 16,04,000 Equity Shares at a price of Rs. 56 per Equity Share under the Anchor Investor Portion, aggregating to Rs. 8,98,24,000.

The Offer received 1,017 Applications for 1,19,64,000 Equity Shares (before rejections) resulting in 1.99 times subscription (including reserved portion of market maker).

Details of applications received in the Offer from Individual Investors, Non-Institutional Investors and QIBs are as under (before rejections):

A Summary of the final demand as per NSE as on Bid/Offer closing date at different Bid Price is as under:

The Basis of Allotment was finalized in consultation with the Designated Stock Exchange-NSE on Thursday, December 04, 2025.

The Basis of Allotment to the Individual Investor Bidders, who have bid at cut-off or at the Offer Price of Rs. 56 per Equity, was finalized in consultation with NSE. This category has been subscribed to the extent of 1.71 times for 33,12,000 Equity Shares. Total number of shares allotted in this category is 19,32,000 Equity Shares to 483 successful applicants. The details of the Basis of Allotment of the said category are as under:

The Basis of Allotment to the Non-Institutional Bidders, who have bid at cut-off or at the Offer Price of Rs. 56 per Equity, was finalized in consultation with NSE. This category has been subscribed to the extent of 2.49 times for 6,86,000 Equity Shares. Total number of shares allotted in this category is 2,76,000 Equity Shares to 46 successful applicants. The details of the Basis of Allotment of the said category are as under:

The Basis of Allotment to the Non-Institutional Bidders, who have bid at cut-off or at the Offer Price of Rs. 56 per Equity, was finalized in consultation with NSE. This category has been subscribed to the extent of 4.85 times for 26,78,000 Equity Shares. Total number of shares allotted in this category is 5,52,000 Equity Shares to 52 successful applicants. The details of the Basis of Allotment of the said category are as under:

The Registrar informed that in this category 1 valid application for 5,38,000 Shares was received against 5,38,000 Equity Shares reserved for this category resulting in subscription of 1 time.

Allotment to QIBs, who have bid at the Offer Price of Rs. 56 per Equity Share or above, has been done on a proportionate basis in consultation with NSE. This category has been subscribed to the extent of 2.06 times i.e. for 23,16,000 Equity Shares. Total number of shares allotted in this category is 11,22,000 Equity Shares to 4 successful applicants. The category wise details of the Basis of Allotment are as under:

The Company, in consultation with BRIM, have allocated 16,04,000 Equity Shares to 3 Anchor Investors at the Anchor Investor Offer Price of Rs. 56/- per Equity Share in accordance with the SEBI Regulations. This represents 60% of the QIB Portion.

The Board Meeting of our Company on Thursday, December 04, 2025 has taken on record the Basis of Allotment of Equity Shares approved by the Designated Stock Exchange, being NSE and has allotted Equity Shares to various successful Bidders. The Allotment Advice-cum- refund intimation is being dispatched to the address of the investors as registered with the depositories. Further, the instructions to the Self Certified Syndicate Banks for unblocking of funds transfer to Public Offer Account has been issued on Thursday, December 04, 2025. In case the same is not received within four days, investors may contact the Registrar to the Offer at the address given below. The Equity Shares allotted to the successful Allottees is being credit on Friday, December 05, 2025 to the respective beneficiary accounts subject to validation of the account details with the depositories concerned. The Company is in the process of obtaining the listing and trading approval from NSE, and the trading is expected to commence on or about Monday, December 08, 2025.

Note: All capitalised terms used and not specifically defined herein shall have the same meaning as ascribed to them in the Prospectus.

The details of the Allotment made have been hosted on the website of Registrar to the Offer, MUFG Intime India Private Limited at Spebadhesives.ipo@in.mpms.mufg.com. All future correspondence in this regard may kindly be addressed to the Registrar to the Offer quoting full name of the First/ Sole applicant. Serial number of the ASBA form, number of Equity Shares bid for, name of the Member of the Syndicate, place where the bid was submitted and payment details at the address given below:

Under the section "Offer Structure" on page 311 the following details have been updated in the Prospectus

Under the "Capital Structure" chapter, at sub-point 20 on page 104, the following details shall be read as follows in the Prospectus:

- The post-offer total number of Equity Shares and the percentage of post-offer capital (%) held by the Promoters shall be read as 1,63,98,670 Equity Shares and 72.99%, respectively, instead of 1,63,33,670 Equity Shares and 73.00%, respectively.

- The post-offer total number of Equity Shares held by the Promoters and Promoter Group shall be read as 1,64,40,570 Equity Shares instead of 1,63,75,570 Equity Shares.

Speb Adhesives Limited had filed the Prospectus dated Wednesday, December 03, 2025 with Registrar of Companies. The Prospectus shall be available on the website of the SEBI at www.sebi.gov.in, the website of the BRLM to the Offer at www.unistonecapital.com and website of NSE at www.nseindia.com. Investors should note that investment in equity shares involves a high degree of risk and for details relating to the same, see section titled "Risk Factors" beginning on page 31 of the Prospectus.

The Equity Shares offered in the offer have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act") or any state securities laws in the United States, and unless so registered, may not be offered or sold within the United States and unless so registered, may not be offered or sold within the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and any applicable U.S. state securities laws. There will be no public offering in the United States and the securities being offered in this announcement are not being offered or sold in the United States.