Himalaya Nutravedics India Ltd. IPO

The Company, Himalaya Nutravedics India Limited (the “Company”), 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. Our Company manufactures a diversified portfolio comprising classical (Shastric) Ayurvedic formulations, which are based on compositions and processes described in traditional Ayurvedic texts such as Charaka Samhita, Sushruta Samhita, Ashtanga Hridaya, Bhaishajya Ratnavali and other recognized Ayurvedic compendia, proprietary Ayurvedic formulations and Nutraceutical products across multiple dosage forms, including soft gelatin capsules, hard gelatin capsules, tablets, Liquid orals, Medicated oils. The Ayurvedic formulations and nutraceuticals industry is a specialised segment within India’s pharmaceutical and wellness ecosystem, covering the manufacture of Ayurvedic, herbal, and dietary supplements under NIC divisions for pharmaceuticals, AYUSH products, and food preparations. (Source: Infomerics Report)

The Company was originally incorporated as “Himalaya Nutravedics India Private Limited”, as a private limited company, under the provisions of the Companies Act, 2013 pursuant to certificate of incorporation dated June 16, 2022. The Company converted into “Himalaya Nutravedics India Limited”, a public limited company vide fresh certificate of incorporation dated December 12, 2025. Our Company commenced its manufacturing operations in September 2022 from its facility located in Cherlapally, Hyderabad, Telangana. During the initial phase of operations, revenues were primarily derived from third-party manufacturing arrangements. Over time, the Company has expanded its presence as an Ayurvedic and Nutraceutical company, with a steadily increasing contribution from its own products. In 2025, the Company was also recognised as a “Startup” by the Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry, Government of India.

The Company operates through a hybrid business model that balances its own formulations with third-party manufacturing operations. Under our own-brand business segment, we formulate, manufacture and market products across three categories: classical Ayurvedic formulations, proprietary Ayurvedic formulations and nutraceutical supplements. A summary of our own-brand product offerings is set out below:
- Classical Ayurvedic formulations are products manufactured strictly in accordance with formulations and processes described in authoritative Ayurvedic texts recognised under the Ministry of Ayush, Government of India. These products follow prescribed compositions and preparation methodologies without deviation and are regulated by the Ministry of Ayush, Government of India. Classical formulations are traditionally indicated for specific therapeutic uses as recognised in such texts.
- Proprietary Ayurvedic formulations(also referred to as patent or proprietary medicines) are formulated based on Ayurvedic principles using permitted Ayurvedic ingredients, but are not described verbatim in classical texts. These formulations reflect our Company’s in-house formulation and product positioning strategy and are regulated under the AYUSH framework upon receipt of applicable product approvals. Proprietary formulations enable product differentiation across therapeutic categories while remaining within the regulatory ambit applicable to Ayurvedic medicines.
- Nutraceutical supplements comprise products formulated using vitamins, minerals, herbal extracts, amino acids and other permitted ingredients intended to support general health, wellness and preventive care. These products are regulated under the Food Safety and Standards Act, 2006 and applicable regulations issued by the Food Safety and Standards Authority of India (FSSAI). Nutraceutical products are positioned for nutritional supplementation and wellness support and are not marketed as medicinal products.