H. R. Hygiene Products Ltd IPO
Miscellaneous
Price Band
₹83 – ₹88
Lot Size
1600
Minimum Bid Quantity
3200
Minimum Investment
₹281600
Issue Size
₹53.95Cr
Opens
2026-07-29
Closes
2026-07-31
Listing
05-08-2026
Subscription Status
Qualified Institutional Buyers
2.81 x
Non-Institutional Investor
8.99 x
Retail Individual Investor
6.55 x
Total
6.17 x
IPO Details
Issue Type
EQUITY
Face Value
₹10
Tick Size
1
ISIN
INE17DP01015
Pre-Apply Available
No
Daily Bidding Time
10:00:00 - 17:00:00
About the Company
H.R. Hygiene Products Limited is engaged in the manufacturing and marketing of hygiene products in India. The company offers sanitary napkins and other hygiene products under its brands Femiss, Womanica, ElderFit, and Bloom Baby, catering to women, babies, and the elderly. It also manufactures sanitary napkins for third parties under white-label arrangements. Its products are distributed through an offline dealer network and e-commerce platforms, serving both B2B and B2C customeRs As of August 31, 2025, the company had 25 SKUs across its product portfolio. The company operates a manufacturing facility in Rajkot, Gujarat, spread across 32,780.88 sq. ft., with an installed production capacity of 6.41 lakh sanitary napkins per day. The facility is equipped with automated production systems and holds ISO 9001:2015, WHO-GMP, and BIS certifications. As of March 31, 2025, the company had a distribution network comprising over 96 sales and marketing personnel, 11 consignment sale agents, and approximately 182 distributors across India. Use of proceeds: The IPO consists of both a fresh issue of shares and an offer for sale (OFS). Proceeds from the OFS will go to the respective selling shareholders, whereas the net proceeds from the fresh issue will be utilised for the following purposes: Setting up a new manufacturing facility at Rajkot, Gujarat — Rs 31.36 crore Prepayment/repayment of loan — Rs 3.56 crore General corporate purposes
Pros
- • The company claims to operate a modern manufacturing facility in Rajkot, Gujarat, spread across 32,780.88 sq. ft., with a fully automated production process from raw material handling to finished product packaging.
- • The company claims to follow a dual-channel distribution strategy through an offline distributor network and e-commerce platforms. Offline sales contributed Rs 121.30 crore (92.79% of revenue) and online sales contributed Rs 9.42 crore (7.21%) in FY26, compared with Rs 107.75 crore (94.00%) and Rs 6.88 crore (6.00%) in FY25, and Rs 80.15 crore (95.02%) and Rs 4.20 crore (4.98%) in FY24, respectively.
- • The company claims to have established brand recognition across its hygiene product portfolio through its Femiss, Womanica, ElderFit, and Bloom Baby brands. Its "Femiss Sanitary Pad" received the National Award for Excellence in Healthcare in 2020 under the "Best Emerging Brand of the Year" category.
Cons
- • The company, its promoters, directors, and subsidiaries are involved in ongoing material proceedings and tax proceedings. Any adverse judgments in the cases could be detrimental to the company’s business prospects.
- • The company's revenue is highly concentrated in sanitary napkins, which contributed Rs 124.62 crore (95.33% of revenue) in FY26, Rs 93.38 crore (81.47%) in FY25, and Rs 56.05 crore (66.45%) in FY24. Any decline in demand, changes in consumer preferences, raw material shortages, pricing pressures, manufacturing disruptions, or regulatory changes affecting this product category could materially impact the company's revenue, profitability, and financial performance.
- • The company operates in the highly competitive hygiene and personal care industry, where consumer preferences and product trends evolve rapidly. Its ability to sustain growth depends on continuously introducing products that align with changing customer preferences across its Femiss, Womanica, ElderFit, and Bloom Baby brands. Any failure to adapt to changing consumer demand, technological advancements, or emerging product categories could reduce product sales and adversely affect the company's business, revenue, cash flows, and financial performance.
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