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Himalaya Nutravedics IPO
₹2,54,400/1200 ( 2 Lots ) shares
Minimum Investment
IPO Details
22 Sep 26
24 Sep 26
₹2,54,400
1200 ( 2 Lots )
₹100 to ₹106
BSE
₹26.50 Cr
29 Sep 26
Open Free Demat Account
Open Free Demat Account
Himalaya Nutravedics IPO Timeline
Bidding Start
22 Sep 26
Bidding Ends
24 Sep 26
Allotment Finalisation
25 Sep 26
Refund Initiation
28 Sep 26
Demat Transfer
28 Sep 26
Listing
29 Sep 26
About Himalaya Nutravedics Limited
Incorporated in June 2022, Himalaya Nutravedics India Limited is a Hyderabad-based Ayurvedic and nutraceutical manufacturing company engaged in formulating, manufacturing and marketing products such as softgel capsules, tablets, medicated oils, liquid orals, hardgel capsules and protein powders. Its products cover therapeutic categories including digestive health, immunity, metabolic health and pain management. The company markets branded products through healthcare practitioners and also undertakes third-party contract manufacturing. It has expanded its presence across 17 states and one union territory in India. Its manufacturing facility in Hyderabad, Telangana, holds ISO 22000:2018, ISO 9001:2015 and WHO-GMP certifications. As of 30 April 2026, the company had 80 employees.
Himalaya Nutravedics Limited IPO Overview
Himalaya Nutravedics Limited IPO is a bookbuilding issue of ₹26.50 crore, comprising an entirely fresh issue of 24,99,600 shares. The IPO will open for subscription on 22 September 2026 and close on 24 September 2026. The basis of allotment is expected to be finalised on 25 September, followed by refunds and credit of shares on 28 September 2026. The company is proposed to list on the BSE SME platform on 29 September 2026. The IPO price band is fixed at ₹100 to ₹106 per share, with a lot size of 1,200 shares. Retail investors must apply for a minimum of two lots, or 2,400 shares, requiring ₹2,54,400 at the upper price band. The minimum S-HNI application is three lots, or 3,600 shares, amounting to ₹3,81,600. Nirbhay Capital Services Pvt. Ltd. is the book running lead manager, while Kfin Technologies Ltd. is the registrar to the issue.
Himalaya Nutravedics Limited IPO Details
| Particulars | Details |
| IPO Date | 22 September 2026 to 24 September 2026 |
| Listing Date | 29 September 2026 |
| Face Value | ₹10 per share |
| Issue Price Band | ₹100 to ₹106 per share |
| Lot Size | 1,200 Shares |
| Total Issue Size | 24,99,600 shares (aggregating up to ₹26 Cr) |
| Fresh Issue | 24,99,600 shares (aggregating up to ₹26 Cr) |
| Offer for Sale | NA |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE SME |
| Share Holding Pre Issue | 63,06,720 shares |
| Share Holding Post Issue | 88,06,320 shares |
| Market Maker Portion | NA |
Himalaya Nutravedics Limited IPO Reservation
| Investor Category | Shares Offered |
| QIB | Not more than 50% of the Net Offer |
| Retail | Not less than 35% of the Net Offer |
| NII (HNI) | Not less than 15% of the Net Offer |
Himalaya Nutravedics Limited IPO Lot Size
| Application | Lots | Shares | Amount |
| Retail (Min) | 2 | 2,400 | ₹2,54,400 |
| Retail (Max) | 2 | 2,400 | ₹2,54,400 |
| S-HNI (Min) | 3 | 3,600 | ₹3,81,600 |
| S-HNI (Max) | 7 | 8,400 | ₹8,90,400 |
| B-HNI (Min) | 8 | 9,600 | ₹10,17,600 |
Himalaya Nutravedics Limited IPO Promoter Holding
| Shareholding Status | Percentage |
| Pre-Issue | 95.14% |
| Post-Issue | 69.94% |
Himalaya Nutravedics Limited IPO Valuation Overview
| KPI | Value |
| Earnings Per Share (EPS) | ₹8.39 |
| Price/Earnings (P/E) Ratio | 12.63x |
| Return on Net Worth (RoNW) | 45.12% |
| Net Asset Value (NAV) | ₹26.70 |
| Return on Equity | 63.87% |
| Return on Capital Employed (ROCE) | 36.41% |
| EBITDA Margin | 18.82% |
| PAT Margin | 17.16% |
| Debt to Equity Ratio | 0.31 |
Objectives of the Proceeds
1. Funding working capital requirements to support the company’s operational needs and expansion, with ₹13.75 crore allocated towards this objective.
2. Business development and digital marketing activities to strengthen market presence, customer outreach and brand visibility, with ₹7.50 crore allocated.
3. General corporate purposes to meet other permissible business requirements and support the company’s overall corporate objectives from the remaining issue proceeds.
Key Financials (in ₹ crore)
| Particulars | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
| Assets | 24.42 | 10.82 | 6.09 |
| Revenue | 43.12 | 21.00 | 14.43 |
| Profit After Tax | 7.39 | 2.23 | 0.43 |
| Reserves and Surplus | 10.07 | 2.76 | 0.53 |
| Total Borrowings | 5.13 | 1.76 | 3.24 |
IPO Strengths
1. Integrated multi-dosage manufacturing capability
2. Doctor acceptance supported by product performance rather than mass advertising
3. Long-standing relationships with suppliers and customers
4. Geographic expansion over a short operating history
5. Broad therapeutic coverage across Ayurvedic and nutraceutical segments
Peer Group Comparison
| Company Name | EPS (Basic) | EPS (Diluted) | NAV (₹) | P/E (x) | RoNW (%) |
| Himalaya Nutravedics India Ltd. | 12.05 | 12.05 | 26.70 | — | 45.12 |
| Peer group | |||||
| Jeena Sikho Lifecare Ltd. | 17.84 | 17.81 | 37.60 | 26.75 | 27.67 |
| Sandu Pharmaceuticals Ltd. | 1.83 | 1.83 | 45.21 | 20.62 | 2.53 |
SWOT Analysis of Himalaya Nutravedics IPO
Strength and Opportunities
- Integrated manufacturing across multiple Ayurvedic and nutraceutical dosage forms supports product diversification.
- Product coverage across digestive health, immunity, metabolic health and pain management provides exposure to multiple therapeutic categories.
- Presence across 17 states and one union territory provides opportunities for further geographic expansion.
- ISO and WHO-GMP certifications support manufacturing quality and regulatory compliance.
- Third-party contract manufacturing creates an additional revenue opportunity alongside branded products.
- Rising consumer interest in preventive healthcare and wellness can support demand for nutraceutical products.
Risks and Threats
- The company has a relatively short operating history, having been incorporated in 2022.
- Its relatively small operating scale may limit its ability to compete with larger established healthcare manufacturers.
- The Ayurvedic and nutraceutical market is competitive, with several established domestic and regional manufacturers.
- Dependence on healthcare practitioners for branded-product promotion may constrain marketing reach.
- Changes in regulatory requirements for Ayurvedic and nutraceutical products could increase compliance costs.
- Input-cost changes and supply-chain disruptions may affect manufacturing margins.
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