Himalaya Nutravedics IPO
Grey Market Premium (GMP)
GMP applies before listing only. This IPO has listed — see Listing Performance below for the actual debut.
Subscription Status
| Category | Subscription |
|---|---|
| QIB | 1x |
| NII | 3.58x |
| sNII (₹2L–₹10L) | 3.04x |
| bNII (above ₹10L) | 3.84x |
| Retail (RII) | 2.56x |
| Total | 2.33x |
Bidding day 3 · final figures at close of bidding: 29 Sept 2026, 6:30 pm IST
IPO Details
- Open Date
- 22 Sept 2026
- Close Date
- 24 Sept 2026
- Listing Date
- 29 Sept 2026
- Face Value
- ₹10
- Fresh Issue
- ₹25.16 Cr
- OFS
- ₹0 Cr
- Listing On
- BSE
- Registrar
- KFin Technologies (KFintech)
The fresh issue is money for the company; the OFS goes to selling shareholders. Fresh issue vs offer for sale, explained
Lot Size & Application Amounts
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 2 | 2,400 | ₹2,54,400 |
| HNI (Min) | 3 | 3,600 | ₹3,81,600 |
Issue Reservation
| Investor category | Shares offered | % of issue |
|---|---|---|
| Anchor | 7,10,400 | 29.93% |
| QIB (ex-anchor) | 4,74,000 | 19.97% |
| NII | 3,56,400 | 15.02% |
| — sNII (< ₹10L) | 1,18,800 | 5.01% |
| — bNII (> ₹10L) | 2,37,600 | 10.01% |
| Retail | 8,32,800 | 35.09% |
| Total | 23,73,600 | 100% |
The anchor portion is carved out of the QIB quota. Percentages are of the total shares offered.
Financials (₹ Cr)
| Period Ended | Revenue | PAT | EBITDA | Net Worth | Total Assets | Borrowings | EPS (₹) |
|---|---|---|---|---|---|---|---|
| FY 2024 | 14.43 | 0.43 | 0.94 | 1.34 | 6.09 | 3.24 | — |
| FY 2025 | 21 | 2.23 | 2.99 | 6.75 | 10.82 | 1.76 | — |
| FY 2026 | 43.12 | 7.39 | 8.1 | 16.38 | 24.42 | 5.13 | 11.72 |
Restated figures from the offer document. Amounts in ₹ crore; EPS in ₹ per share. FY = the 12 months ended 31 March.
KPIs & Valuation
- P/E (pre-issue)
- 9.04x
- P/E (post-issue)
- 12.63x
- RoNW
- 45.12%
- RoE
- 63.87%
- RoCE
- 36.41%
- Debt / Equity
- 0.31
- EPS (pre-issue)
- ₹11.72
- EPS (post-issue)
- ₹8.39
- EBITDA Margin
- 18.82%
- PAT Margin
- 17.16%
- P/BV
- 3.97x
- NAV / share
- ₹26.7
- Market Cap
- ₹93.35 Cr
As of 31 Mar 2026 (latest reported period in the offer document). Market cap is computed on a post-issue basis at the upper price band.
Objects of the Issue
| Purpose | Est. Amount |
|---|---|
| Funding Working Capital Requirements | ₹13.75 Cr |
| Business Development and Digital Marketing Activities | ₹7.5 Cr |
| General Corporate Purposes | ₹3.17 Cr |
| Issue Expenses | ₹2.08 Cr |
Net-proceeds utilisation as disclosed in the offer document.
Issue Expenses
| Purpose | Est. Amount |
|---|---|
| Fees and commissions payable to the BRLM and Syndicate Member (including underwriting commission, brokerage and selling and marketing commission | ₹1.46 Cr |
| Commission/processing fee for SCSBs, Sponsor Bank(s) and Banker to the Issue and fee payable to the Sponsor Bank for Bids made by RIBs, Brokerage, selling commission and bidding charges for Member of the Syndicate, Registered Brokers, CRTAs and CDP and Market Maker Fees | ₹0.09 Cr |
| Fee payable to Legal Counsel | ₹0.09 Cr |
| Fees to regulators, including Stock Exchange i.e. Listing fees, Exchange’s filing fees, upload fees, Exchange’s processing fees, book building software fees, fees payable to the Registrar to the Issue, postages, depository charges and other regulatory expenses | ₹0.11 Cr |
| Printing and distribution of stationery | ₹0.01 Cr |
| Advertising and marketing expenses | ₹0.13 Cr |
| Miscellaneous | ₹0.19 Cr |
Promoters & Shareholding
Promoters: <p>Rohit Asawa, Divya Asawa, Chanda Asawa, Rama Raju Penmatsa</p>
- Holding (pre-issue)
- 95.14%
- Holding (post-issue)
- 68.13%
- Dilution
- 27.01%
Documents
Anchor Investors
| Investor | Category | Shares | Price | Amount ₹Cr | Allocation |
|---|---|---|---|---|---|
| CP Capital Ltd. | Other | 5,20,800 | ₹106 | 5.52 | 73.31% |
| NAV CAPITAL VCC-NAV CAPITAL EMERGING STAR FUND | Other | 1,89,600 | ₹106 | 2.01 | 26.69% |
Anchor bidding took place on 21 Sept 2026. Anchor lock-in: 50% of shares unlock on 24 Oct 2026, the remainder on 23 Dec 2026.
Peer Comparison
| Company | EPS (₹) | NAV (₹) | P/E | RoNW |
|---|---|---|---|---|
| Himalaya Nutravedics | 12.05 | 26.7 | — | 45.12% |
| Jeena Sikho Lifecare Ltd. | 17.84 | 37.6 | 26.75x | 27.67% |
| Sandu Pharmaceuticals Ltd. | 1.83 | 45.21 | 20.62x | 2.53% |
Peer group as disclosed in the offer document, figures as of 31 Mar 2026. The issuer’s P/E is computed at the upper price band.
Lead Managers (BRLMs)
Tap a lead manager to see every IPO it has run and how those listings fared.
Listing Performance
About the Himalaya Nutravedics IPO
The Himalaya Nutravedics SME IPO runs from 22 Sept 2026 to 24 Sept 2026, offered at a price band of ₹100–106 per share, and is set to list on BSE. The company is looking to raise ₹26.5 crore through the offer. Retail investors bid in lots of 1200 shares, a minimum application of ₹2,54,400.
Issue structure
The IPO is structured entirely as a fresh issue of ₹25.16 crore, so the full proceeds flow to the company to fund its stated objects of the issue.
Objects of the issue
Per the offer document, the company intends to deploy the net proceeds primarily toward funding working capital requirements (₹13.75 crore), alongside business development and digital marketing activities (₹7.5 crore). In all, 4 objects are disclosed — the full break-up is in the table above.
Financials
In FY2026, Himalaya Nutravedics reported revenue of ₹43.12 crore and a net profit of ₹7.39 crore. Revenue grew from ₹14.43 crore in FY2024 to ₹43.12 crore in FY2026 (+199.0%). Net worth stood at ₹16.38 crore at the end of FY2026. At the upper band, that puts the issue at roughly 9.0× FY2026 earnings (P/E), a figure worth comparing against listed peers in the sector.
Valuation
At the upper band, the issue is priced at 12.63× post-issue earnings and 3.97× book value, against a return on net worth of 45.12% and a debt-to-equity ratio of 0.31. These ratios come from the offer document and are for comparison, not a recommendation.
Peer comparison
The offer document names listed peers including Jeena Sikho Lifecare Ltd. and Sandu Pharmaceuticals Ltd., with a median peer P/E of about 23.7×. The issue's own post-issue P/E works out to 12.63×.
Promoters
The promoters of the company are <p>Rohit Asawa, Divya Asawa, Chanda Asawa, Rama Raju Penmatsa</p>. Promoter holding stands at 95.14% before the issue and comes down to 68.13% after listing.
Grey market premium (GMP)
In the unofficial grey market, Himalaya Nutravedics shares are quoted at a premium of ₹0 implying an expected listing around ₹106, about +0.0% over the upper band. Grey market premium is a sentiment indicator set by private dealers, not the company or the exchange — it moves quickly and is not a reliable predictor of the actual listing price.
Subscription
The Himalaya Nutravedics IPO was subscribed 2.33 times overall. The strongest demand came from non-institutional investors (NII) at 3.58 times, with qualified institutional buyers (QIB) at 1× and retail investors at 2.56×.
Listing performance
Himalaya Nutravedics listed on 29 Sept 2026 at ₹118, a premium of +11.3% over the issue price of ₹106.
What to weigh
When evaluating the Himalaya Nutravedics IPO, the data points most investors look at are the fresh-issue-versus-OFS split, the revenue and profitability trend, subscription demand across investor categories and the grey market premium. Grey market premium and subscription figures reflect short-term sentiment rather than long-term fundamentals; the figures on this page are for information only and are not investment advice.
About Himalaya Nutravedics
Himalaya Nutravedics India Ltd is engaged in the manufacturing, marketing, and distribution of Ayurvedic and nutraceutical formulations in India. In addition to its own branded products, the company also undertakes third-party contract manufacturing for other Ayurvedic and nutraceutical companies. It offers a diversified product portfolio that includes classical Ayurvedic formulations based on traditional texts, proprietary Ayurvedic products, and nutraceutical supplements. These are available in multiple dosage forms such as soft gelatin capsules, hard gelatin capsules, tablets, liquid orals, and medicated oils. The company operates through a hybrid business model, balancing its own-brand formulations with contract manufacturing services. It has an integrated in-house manufacturing facility located in Hyderabad, Telangana. As of September 2025, its products are distributed across multiple states in India, with a strong revenue presence in Telangana, Andhra Pradesh, Kerala, Gujarat, and Uttar Pradesh. Its product portfolio spans a wide range of wellness and therapeutic segments, including digestive health, immunity, metabolic health, musculoskeletal and joint care, reproductive health, respiratory wellness, pain management, and general well-being. These formulations are designed to support general wellness, nutritional supplementation, and lifestyle-related health needs, in line with applicable regulatory standards. Competitive Strengths: Integrated multi-dosage manufacturing capability Doctor acceptance supported by product performance rather than mass advertising Long-standing relationships with suppliers and customers Geographic expansion achieved over a relatively short operating history Broad therapeutic coverage across ayurvedic and nutraceutical segment
Himalaya Nutravedics — Contact Details
- Registered office
- Plot No. 101/A, Phase-III, Industrial Development Park, Cherlapally, Hindustan Cables Ltd, Uppal, Hyderabad, Telangana, 500051
- Phone
- +91-9063498493
- Website
- www.himalayanutravedics.com/
- Registrar (IPO queries)
- himalaya.ipo@kfintech.com
Frequently asked questions
- What is the Himalaya Nutravedics IPO price band?
- The Himalaya Nutravedics IPO price band is ₹100 to ₹106 per share, with a lot size of 1200 shares.
- What was the Himalaya Nutravedics IPO GMP before listing?
- The final grey market premium recorded before the Himalaya Nutravedics IPO listed was ₹0. The IPO listed on 29 Sept 2026 at ₹118, +11.3% against the issue price. GMP is an unofficial figure and was never a guarantee of the listing price.
- When does the Himalaya Nutravedics IPO open and close?
- The Himalaya Nutravedics IPO opens on 22 Sept 2026 and closes on 24 Sept 2026.
- When is the Himalaya Nutravedics IPO allotment and listing date?
- Allotment is expected on 25 Sept 2026. The shares are scheduled to list on 29 Sept 2026 on BSE.
- How many times was the Himalaya Nutravedics IPO subscribed?
- The Himalaya Nutravedics IPO was subscribed 2.33 times in total across all investor categories.
- What is the reservation split in the Himalaya Nutravedics IPO?
- Of the total shares offered, retail investors get 35.09%, QIBs 19.97% (plus 29.93% anchor), non-institutional investors 15.02%. The full category-wise break-up is in the Issue Reservation table on this page.
- Who are the promoters of Himalaya Nutravedics and what is their holding?
- The promoters are <p>Rohit Asawa, Divya Asawa, Chanda Asawa, Rama Raju Penmatsa</p>. Promoter holding is 95.14% before the issue and 68.13% after listing.
- What is the P/E ratio of the Himalaya Nutravedics IPO?
- At the upper price band, the Himalaya Nutravedics IPO is valued at 9.04× pre-issue earnings and 12.63× post-issue earnings, based on the financials disclosed in the offer document.
- What are the objects of the Himalaya Nutravedics IPO?
- The net proceeds go primarily toward funding working capital requirements, among 4 disclosed objects. See the Objects of the Issue table for the full break-up.
- Who are the lead managers and registrar of the Himalaya Nutravedics IPO?
- The book-running lead manager is Nirbhay Capital Services Pvt.Ltd.. KFin Technologies (KFintech) is the registrar to the issue.
- Is Himalaya Nutravedics a Mainboard or SME IPO?
- Himalaya Nutravedics is an SME IPO, listing on BSE (SME platform).