About Himalaya Nutravedics India IPO
Himalaya Nutravedics India IPO Details
Himalaya Nutravedics India IPO is a 100% book-built issue of ₹26.50 crore, entirely a fresh issue of 25 lakh shares, with a face value of ₹10 per share. The company filed DRHP with SEBI on July 22, 2026.
The price band of the issue is set at ₹100 to ₹106 per share and the lot size for an application is 1,200 shares. The minimum amount of investment required by an individual investor is ₹2,54,400 (2,400 shares). The IPO will be open for subscription from September 22 to 24, 2026, on the BSE SME platform, with a tentative listing date fixed as September 29, 2026.
Nirbhay Capital Services Private Limited is the Book Running Lead Manager and KFin Technologies Limited is the Registrar to the Issue.
Himalaya Nutravedics India IPO Date & Timeline
The Himalaya Nutravedics India IPO is officially set to open for subscription on Sep 22, 2026 and will close on Sep 24, 2026. The company initially filed its Draft Red Herring Prospectus (DRHP) on July 22, 2026 and has now finalized its schedule following SEBI approval. Once the subscription window closes, allotment is expected on Sep 25, 2026. Following this, the firm will initiate refunds and credit shares to successful investors' demat accounts on Sep 28, 2026. Finally, shares of Himalaya Nutravedics India Ltd. are tentatively scheduled to list on the stock exchanges on Sep 29, 2026.
Himalaya Nutravedics India IPO Timeline
| IPO Open Date | Tue, Sep 22, 2026 |
| IPO Close Date | Thu, Sep 24, 2026 |
| Basis of Allotment | Fri, Sep 25, 2026 |
| Initiation of Refunds | Mon, Sep 28, 2026 |
| Credit of Shares to Demat | Mon, Sep 28, 2026 |
| Listing Date | Tue, Sep 29, 2026 |
Himalaya Nutravedics India IPO Details
| Detail | Description |
|---|---|
| IPO Date | 22 to 24 Sep, 2026 |
| Listing Date | 29 Sep, 2026 |
| Face Value | ₹ 10 Per Equity Share |
| Issue Price Band | ₹ 100 to ₹ 106 |
| Lot Size | 1,200 Shares |
| Sale Type | Fresh Issue + Offer For Sale |
| Total Issue Size | 24,99,600 shares (agg. up to ₹ 26 Cr) |
| Fresh Issue(Ex Market Maker) | 24,99,600 shares (agg. up to ₹ 26 Cr) |
| Issue Type | Book Built Issue |
| Listing At | BSE SME |
| Share Holding Pre Issue | 63,06,720 shares |
| Share Holding Post Issue | 88,06,320 shares |
Himalaya Nutravedics India IPO GMP (Grey Market Premium)
“Grey Market Premium” or GMP is defined as the rate at which the IPO's shares are traded in the market before they are officially listed on the stock exchange.
The Himalaya Nutravedics India IPO GMP is currently trading at ₹0, reflecting the sentiment of unofficial investors before the official listing. This premium suggests a potential listing price of ₹106, which is 0.00% above the issue price. While the Grey Market Premium is a key indicator of demand and investor appetite, it is important to remember that GMP is highly volatile and should not be the sole factor in your investment decisions.
IPO Estimated Listing Return
Based on the IPO Price of ₹106 (highest price band), the latest uploaded Grey Market Premium (GMP) of ₹0 and a lot size of 1200 shares.
Himalaya Nutravedics India IPO GMP TREND (DAILY UPDATES)
| GMP Date | IPO Price | GMP | Last Updated |
|---|---|---|---|
| 21 Sep 2026 | ₹106 | ₹0 | 21 Sep, 202611:23 AM |
| 20 Sep 2026 | ₹106 | ₹0 | 21 Sep, 202611:23 AM |
| 19 Sep 2026 | ₹106 | ₹0 | 21 Sep, 202611:23 AM |
| 18 Sep 2026 | ₹106 | ₹0 | 21 Sep, 202611:23 AM |
| 17 Sep 2026 | ₹106 | ₹0 | 21 Sep, 202611:23 AM |
| 16 Sep, 2026 | ₹106 | ₹0 | 16 Sep, 202611:57 AM |
Company Background
On June 16, 2022 at Cherlapally, Hyderabad, Telangana, Himalaya Nutravedics India was incorporated as a private limited company, named Himalaya Nutravedics India Private Limited.
The company engaged in the manufacturing, marketing and distribution of Ayurvedic and nutraceutical formulations in India and also undertakes third-party contract manufacturing for other Ayurvedic and nutraceutical companies.
Its portfolio combines classical Ayurvedic formulations, proprietary Ayurvedic formulations and nutraceutical products. Its products address fertility, maternal health, bone and joint care, metabolic disorders, urology, paediatrics, neurocognitive health and general wellness. It was recognised as a startup by DPIIT in 2025.
Then, on November 28, 2025, to proceed with its public listing procedures, the company was converted into a public limited company with a fresh certificate of incorporation.
Operations & Product Range
Himalaya Nutravedics India Ltd. operates a hybrid business model built around own-branded products and third-party contract manufacturing. Its own-brand portfolio includes classical Ayurvedic formulations based on recognised Ayurvedic texts, proprietary formulations developed using Ayurvedic principles and nutraceutical supplements containing ingredients such as herbal extracts, vitamins and minerals.
Its products are manufactured in several dosage forms, including softgel capsules, tablets, medicated oils, liquid orals, hardgel capsules and protein powders. Product applications cover digestive health, immunity, metabolic health, musculoskeletal and joint-related wellness, reproductive vitality, respiratory wellness, pain management and general wellness.
The company follows a primarily doctor-led, offline marketing model for its branded business. Its field force engages healthcare practitioners through scientific detailing, continuing medical education programmes, medical camps and other practitioner activities.
Facilities & Capacity
Himalaya Nutravedics India Ltd. operates a single integrated manufacturing facility in Hyderabad, Telangana. The facility supports manufacturing of softgel capsules, hardgel capsules, tablets, liquid orals and medicated oils, with dedicated areas for raw-material storage, production, in-process storage, quality control, finished-goods storage and administration.
For FY26, the installed capacity was 12 crore units for softgel capsules, 9 crore 200-ml bottles for medicated oil, 4.50 crore tablet units, 1.50 lakh 200-ml bottles for liquid orals, 4.50 crore hardgel capsule units and 60,000 installed capacity in 250-gram protein powder bottles.
The facility is stated to be compliant with WHO-GMP standards and operates under applicable AYUSH and FSSAI registrations and licences. The company also cites ISO 9001:2015, ISO 22000:2018, HACCP, Halal and Kosher certifications.
Brands & Market Presence
Himalaya Nutravedics India Ltd. has developed 59 product SKUs comprising 32 classical Ayurvedic formulations, 12 proprietary Ayurvedic formulations and 15 nutraceutical products. The company’s products were marketed across 17 states in India as of FY26, supported by an on-ground sales and marketing organisation.
Third-party manufacturing remains an important part of the business, particularly with clients located in Kerala. The company has also stated that it is exploring export opportunities in selected international markets, including Africa, the Middle East, Southeast Asia and CIS regions.
Revenue Streams & Business Model
Himalaya Nutravedics India Ltd. generates revenue from the sale of its own Ayurvedic and nutraceutical products and from third-party contract manufacturing. The branded business covers classical and proprietary Ayurvedic formulations and nutraceutical supplements, while contract manufacturing involves formulation, manufacturing, packaging and dispatch based on client specifications.
The branded business has increased its contribution over time, while third-party manufacturing continues to support capacity utilisation. Customer concentration remains material, with the top 10 customers accounting for 81.24% of FY2025-26 revenue from operations.
Financial Performance
Himalaya Nutravedics India Ltd., on annually reported revenue of ₹20.99 in FY25 and ₹43.06 crore in FY26, showing a 105% increase, while PAT was reported at ₹2.23 crore in FY25 and FY26 in ₹7.39 crore, showing PAT rose by 231% between FY25-26. EBITDA was reported ₹2.99 crore in FY25 and ₹8.10 crore in FY26, while net profit margin increased from 10.63% to 17.16%.
Product-wise, softgel capsules were the largest revenue contributor in FY25-26, generating ₹25.73 crore, or 59.73% of revenue. Medicated oils contributed ₹12.89 crore, or 29.93%, while tablets contributed ₹3.31 crore, or 7.69%. Other products, comprising liquid orals, hardgels and protein powders, contributed ₹1.14 crore, or 2.64%.
Management & Shareholding
The promoters of Himalaya Nutravedics India Ltd. are Rohit Asawa, Divya Asawa, Chanda Asawa and Rama Raju Penmatsa. Before the IPO, the promoters held a 60,00,000 shares, which is 95.14% stake in the company, but after the IPO, the promoters shareholding will be diluted and down to 69.94%, as the offering include a 24,99,600 fresh shares, which will restructure the existing shareholders holding.
Board & Key Management
The Board comprises Rohit Asawa as Chairman and Managing Director, Divya Asawa as Non-Executive Director and Abhisheak Dhoot and Ramya Inala as Independent Directors. Pooja Biyani is the Company Secretary and Compliance Officer, while Krishna Kanth Sarda is the Chief Financial Officer. The promoters are central to the company’s formation, strategy and business development and the company’s dependence on their experience, relationships and continued involvement.
Himalaya Nutravedics India IPO Financial Information
Latest Revenue
₹ 43.07 Cr
Profit After Tax
₹ 7.39 Cr
Net Worth
₹ 16.38 Cr
Total Borrowing
₹ 5.13 Cr
| Period Ended | Assets | Revenue From Operations | Profit After Tax | Net Worth | Reserves & Surplus | Total Borrowing |
|---|---|---|---|---|---|---|
| [object Object] | 24.42 | 43.07 | 7.39 | 16.38 | 10.07 | 5.13 |
| — | 10.82 | 21.00 | 2.23 | 6.75 | 2.76 | 1.76 |
| — | 6.09 | 14.43 | 0.43 | 1.34 | 0.53 | 3.24 |
| Amount in ₹ Crore | ||||||
Himalaya Nutravedics India Key Performance Indicator
| KPI | Values(31 Mar 2026) |
|---|---|
| ROE | 63.87 % |
| ROCE | 36.41 % |
| Debt/Equity | 0.31 |
| RoNW | 45.12 % |
| PAT Margin | 17.16 % |
| EBITDA Margin | 18.82 % |
| Price to Book Value | 3.97 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 11.72 | 8.39 |
| P/E (x) | 9.04 | 12.63 |
Himalaya Nutravedics India IPO Objectives
Himalaya Nutravedics India Ltd. plan to utilise the IPO proceeds for the following strategic purposes:
- • Funding the working capital requirements
- • Investment in the marketing, sales and branding expenses
- • General corporate purposes
Himalaya Nutravedics India IPO Review
Himalaya Nutravedics India Ltd. is engaged in the manufacturing, marketing and distribution of Ayurvedic and Nutraceutical formulations in India and also undertakes third-party contract manufacturing for other Ayurvedic and Nutraceutical companies. Its integrated facility supports multiple dosage forms, while the company has built a portfolio of 59 SKUs and expanded its branded presence across 17 states.
The financial trajectory strengthened over the reported three-year period, with revenue rising from ₹20.99 crore in FY25 to ₹43.07 crore in FY26, with an 231% increase in revenue and PAT increasing from ₹21 crore in FY25 to ₹7.39 crore in FY26, with an increase of 231% between FY25-26. While EBITDA rose from ₹2.99 crore in FY25 to ₹8.10 crore in FY26, showing an EBITDA margin of 18.82%.
However, the business also carries operational dependencies, as it operates from a single manufacturing facility, does not have long-term contracts with customers and suppliers and has significant supplier concentration. For FY25-26 EPS of ₹12.05, NAV of ₹26.70 and RoNW of 45.12%, while the peer P/E range cited is 21.34 times to 106.03 times, with an average of 63.69 times.
Overall, the Himalaya Nutravedics India IPO gives investors exposure to a relatively young company operating across Ayurvedic and nutraceutical manufacturing, with both branded products and third-party contract manufacturing. Still, investors seeking Himalaya Nutravedics India IPO need to be aware of the operational reports to identify the potential risks and benefits of the company for better decision making.
Conclusion
Himalaya Nutravedics India IPO is an opportunity for investors seeking to invest in a company that combines Ayurvedic and nutraceutical manufacturing with own-brand sales and third-party contract manufacturing. Its reported financial performance has strengthened, while the company is expanding its branded portfolio, geographic reach and digital marketing efforts. With this listing, the company aims to fund its working capital requirements and mainly investment in Branding, Digital Marketing and Sales Expansion.
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Competitive Strengths
Integrated manufacturing capability across softgels, tablets, medicated oils, hardgels and liquid orals.
Portfolio of 59 product SKUs across classical Ayurvedic, proprietary Ayurvedic and nutraceutical categories.
Doctor-led marketing and distribution model supported by field-force engagement and stockist networks.
Presence across 17 states in India as of March 31, 2026.
Quality and manufacturing infrastructure supported by WHO-GMP, ISO 9001:2015, ISO 22000:2018, HACCP, Halal and Kosher certifications.
Hybrid revenue model combining own-branded products with third-party contract manufacturing.
Download regulatory filings
IPO Lot Size
| Investors | No.of lots | Shares Offered | Max Bid Amount |
|---|---|---|---|
| Individual investors (Retail) (Min) | 2 | 2,400 | 2,54,400 |
| Individual investors (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 |