In Progress
Valuation
Market Cap
₹93.35 Cr
P/E Ratio
8.80x
P/B Ratio
3.97x
Himalaya Nutravedics IPO Dates
Open
Close
Allotment
Refunds
Credit
Listing
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Business Overview
Himalaya Nutravedics India Limited manufactures, markets and distributes Ayurvedic and Nutraceutical formulations, and also undertakes third-party contract manufacturing for other companies. Its portfolio spans classical (Shastric) Ayurvedic formulations based on traditional texts, proprietary Ayurvedic formulations, and Nutraceutical products across capsules, tablets, liquid orals and medicated oils. Incorporated in June 2022 the Company operates a single WHO-GMP compliant, ISO-certified facility in Hyderabad, Telangana. Its hybrid model balances own-brand products (51.14% of FY26 revenue) with third-party manufacturing (48.86%), marketed through a doctor-centric, prescription-led network of stockists across 17 states.
Lots & IPO Size
Himalaya Nutravedics IPO Lot Size
| Category | Lots | Shares | Amount |
|---|---|---|---|
| Ind (Min) | 2 | 2,400 | ₹2,54,400 |
| Ind (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 |
Market Maker
₹1.26 L
Employee
₹0.00
Shareholder
₹0.00
Himalaya Nutravedics IPO Size
Total
₹26 Cr
Fresh Issue
₹26 Cr
(0.25 Cr
Shares)
Offer For Sale
₹0
(0.00
Shares)
Objects of the Issue
Funding Working Capital Requirements
Investment in Branding, Digital Marketing and Sales Expansion
General Corporate Purposes & Issue Expenses
Total
Key Risk Factors
The Company's trademark applications are under opposition proceedings; adverse outcomes could require modifying or discontinuing use of its trademarks, affecting brand recognition and reputation.
Key Risk Factors
The Company's trademark applications are under opposition proceedings; adverse outcomes could require modifying or discontinuing use of its trademarks, affecting brand recognition and reputation.
Ayurvedic products constituted 94.57%, 92.09% and 79.27% of revenue from operations in FY26, FY25 and FY24 respectively; any decline in demand for these products could adversely affect the business.
The Company's top 10 customers accounted for 81.24%, 86.97% and 84.19% of revenue from operations in FY26, FY25 and FY24 respectively; loss of these relationships could adversely affect results.
The Company has historically derived a significant portion of supplies from its top 10 suppliers without long-term agreements, exposing it to risks from changes in supplier terms or relationships.
The Company's profitability may be adversely affected upon expiry of tax benefits under Section 80-IAC, available until Fiscal 2027, after which PAT is estimated to reduce by ~28% of PBT.
The Company operates out of a single Manufacturing Facility in Hyderabad, Telangana, exposing operations to geographic concentration risks from local and regional disruptions.
The Company is significantly dependent on the experience and continued involvement of its Promoters for business growth; any reduction in their involvement could adversely affect operations.
The Company's Registered Office and Factory are located on leased premises; disruption of lessee rights or termination of the lease agreement could adversely impact operations.
The Company's inability to accurately forecast product demand and manage inventory, which has a limited shelf life, may result in losses or health hazards from expired stock.
The Company's business is subject to stringent and evolving labelling and regulatory requirements under FSSAI and the Ministry of AYUSH; failure to comply may adversely affect operations.
Himalaya Nutravedics IPO Details Live GMP
GMP
₹0
Est. Price
₹106
Est. Gain
0.00%
| Date | GMP (₹) | Est. Price |
|---|---|---|
| 20 Sep | ₹0 (0%) | ₹106 |
| 19 Sep | ₹0 (0%) | ₹106 |
| 18 Sep | ₹0 (0%) | ₹106 |
| 17 Sep | ₹0 (0%) | ₹106 |
| 16 Sep | ₹0 (0%) | ₹106 |
Himalaya Nutravedics IPO Peer Comparison
(Rs. in crores)
| Particulars | Himalaya Nutravedics | Jeena Sikho Lifecare | Sandu Pharmaceuticals |
|---|---|---|---|
| Revenue | 43.07 | 801.36 | 69.93 |
| PAT | 7.39 | 221.70 | 1.77 |
| EPS (₹) | 12.05 | 17.84 | 1.83 |
| NAV (₹) | 26.70 | 37.60 | 45.21 |
| RONW | 45.12% | 27.67% | 2.53% |
| EBITDA | 18.82% | 34.16% | 4.29% |
| PAT Mrgn | 17.16% | 27.67% | 2.53% |
| PE Ratio | 8.80 | 28.75 | 20.62 |
| Debt to Equity | 0.31 | 0.27 | - |
All information pertains to FY 2025-26. PE ratio is calculated using the Upper Price Band for the Issuer and the closing price as of August 31, 2026 for Peers
Himalaya Nutravedics IPO Financial Performance
(Rs. in crores)
| Particulars | Mar-26 | Mar-25 | Mar-24 |
|---|---|---|---|
| Revenue | 43.07 | 21.00 | 14.43 |
| Profit | 7.39 | 2.23 | 0.43 |
| Net Worth | 16.38 | 6.76 | 1.36 |
| Borrowings | 5.13 | 1.76 | 3.24 |
| Assets | 24.42 | 10.82 | 6.09 |
| NAV (₹) | 26.70 | 50.01 | 10.77 |
| EPS (₹) | 12.05 | 16.54 | 3.42 |
Key Performance Indicators (KPIs)
Debt to Equity
0.31
All the data pertains to FY 2025-26. PE, PB, and market capitalization are calculated based on the Upper Price Band.
Himalaya Nutravedics IPO Financial Statements
(Rs. in crores)
| Particulars | Mar-26 | Mar-25 | Mar-24 |
|---|---|---|---|
| Revenue from Ops | 43.07 | 21.00 | 14.43 |
| Other Income | 0.05 | 0.00 | 0.00 |
| Total Income | 43.12 | 21.00 | 14.43 |
| Materials Consumed | 25.91 | 13.76 | 9.04 |
| Changes in Inventories | 0.15 | -0.79 | -0.58 |
| Employee Expense | 2.76 | 2.94 | 3.02 |
| Finance Costs | 0.35 | 0.32 | 0.18 |
| Depreciation | 0.33 | 0.42 | 0.16 |
| Other Expenses | 6.14 | 2.11 | 2.00 |
| Total Expenses | 35.64 | 18.75 | 13.83 |
| Profit Before Tax | 7.48 | 2.25 | 0.59 |
| Tax Expense | 0.09 | 0.02 | 0.17 |
| Profit After Tax | 7.39 | 2.23 | 0.43 |
| EPS — Basic (₹) | 12.05 | 16.54 | 3.42 |
| EPS — Diluted (₹) | 12.05 | 16.54 | 3.42 |
| Particulars | Mar-26 | Mar-25 | Mar-24 |
|---|---|---|---|
| Equity Share Capital | 6.31 | 4.00 | 0.83 |
| Reserves & Surplus | 10.07 | 2.76 | 0.53 |
| Total Equity | 16.38 | 6.76 | 1.36 |
| Total Borrowings | 5.13 | 1.76 | 3.24 |
| Trade Payables | 0.70 | 1.28 | 0.62 |
| Short-Term Provisions | 1.53 | 0.44 | 0.19 |
| Other Liabilities | 0.68 | 0.58 | 0.69 |
| Total Equity & Liab | 24.42 | 10.82 | 6.09 |
| Fixed Assets | 1.03 | 1.29 | 1.50 |
| Inventories | 8.92 | 3.28 | 2.52 |
| Trade Receivables | 10.59 | 5.64 | 1.55 |
| Cash & Bank Bal | 1.45 | 0.07 | 0.25 |
| Other Assets | 2.44 | 0.54 | 0.27 |
| Total Assets | 24.42 | 10.82 | 6.09 |
| Particulars | Mar-26 | Mar-25 | Mar-24 |
|---|---|---|---|
| Cash Flow from Operating Activities | -3.83 | -1.39 | -0.55 |
| Cash Flow from Investing Activities | -0.06 | -0.23 | -1.10 |
| Cash Flow from Financing Activities | 5.27 | 1.44 | 1.84 |
| Net Change in Cash & Equivalents | 1.38 | -0.18 | 0.19 |
| Cash & Equivalents at End of Period | 1.45 | 0.07 | 0.25 |
Promoter Holding
Promoter
95.14%
Public
4.86%
Chanda Asawa
43.17%
Divya Asawa
24.31%
Rama Raju Penmatsa
15.22%
Rohit Asawa
4.71%
Swathi Penmatsa
7.61%
Shilpa Attal
0.12%
Management
Rohit Asawa
Age: 37
MD
Remuneration
₹Up to ₹24.00 Lakhs p.a. (FY26 actual: ₹18.24 Lakhs) + perquisites (medical reimbursement, LTC, club fees, gratuity, earned leave)
Education
B.Tech (Electronics & Communication Engg), JNTU Hyderabad; M.S. Electrical Engineering, San Jose State University, USA
Prior Experience
Over 12 years in technology, nutraceutical and Ayurvedic industry; previously with Ericsson Inc. (San Jose, USA) and Ericsson India Global Services
Krishna Kanth Sarda
Age: 29
CFO
Remuneration
₹₹2.59 Lakhs (FY26)
Education
B.Com, Osmania University, Hyderabad; Diploma in Management, Aurora's Business School, Hyderabad
Prior Experience
Over 5 years in accounting and finance; previously with HDFC Bank, Yes Bank, Kotak Mahindra Bank and Berkadia India Financial Solutions
Registrar & Lead Managers
Registrar
KFin Technologies
Lead Managers (1)
Company Details
Name: Himalaya Nutravedics India Limited
Address: Plot No. 101/A, Phase-III, Industrial Development Park, Cherlapally, Hindustan Cables Ltd, Uppal, Hyderabad-500051, Telangana, India
Number: +91-9063498493
Email: info@himalayanutravedics.com
Website: https://himalayanutravedics.com
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Frequently Asked Questions (FAQs)
What is Himalaya Nutravedics IPO?
Himalaya Nutravedics IPO is a SME IPO having an issue size of
₹26 Crs.
Himalaya Nutravedics IPO is priced at
₹100 - ₹106 per
share.
The
issue opens on 22 Sep 26
and
closes on 24 Sep 26.
When will Himalaya Nutravedics IPO open?
Himalaya Nutravedics IPO opens on
22 Sep 26 and closes on
24 Sep 26.
What is the GMP of Himalaya Nutravedics IPO?
The estimated Grey Market Premium of Himalaya Nutravedics IPO is
₹0 per share (0.00%).
What is the lot size of Himalaya Nutravedics IPO?
The minimum lot size of Himalaya Nutravedics IPO is
1200 shares & the minimum application amount
is
Rs.
127200.
When is the allotment of Himalaya Nutravedics IPO?
The allotment date of Himalaya Nutravedics IPO is
25 Sep 26.
What is the listing date of Himalaya Nutravedics IPO?
The listing date of Himalaya Nutravedics IPO is
29 Sep 26.
What is the subscription of Himalaya Nutravedics IPO?
Himalaya Nutravedics IPO is subscribed
-.
What is the price band of Himalaya Nutravedics IPO?
Himalaya Nutravedics IPO is priced at
₹100 - ₹106 per
share.
How to check allotment status of Himalaya Nutravedics IPO?
Click the allotment link on Himalaya Nutravedics IPO page of IPO360.
How to apply Himalaya Nutravedics IPO in Zerodha?
- Go to Kite App → Tap on Bids → Tap on IPO
- Select the IPO → Tap on apply → Enter UPI ID
- Enter Qty and Price
- Submit the application
- Approve the UPI Mandate on your UPI app
How to apply Himalaya Nutravedics IPO in Groww?
- Go to Groww App → Stocks Section → Select IPO option
- Select the IPO you want to apply
- Enter your bid details and price
- Enter UPI ID & submit
- Approve the UPI Mandate on your UPI app
How to apply Himalaya Nutravedics IPO using ASBA?
- Log in to your bank's net banking portal.
- Navigate to the 'IPO' or 'ASBA' section.
- Select Himalaya Nutravedics IPO from the list of available IPOs.
- Enter the required details: Bid quantity, Price, DP ID & Client ID, etc
- Submit the application.
- Money will remain blocked till the refund date
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