H.R.Hygiene Products IPO
smelistedAbout the company
H.R. Hygiene Products is an India-based company operating in the hygiene products manufacturing business with a growing national footprint, having its headquarters at Rajkot, Gujarat. The company has adopted a four-brand approach with the brands Femiss (value sanitary napkins), Womanica (luxury sanitary napkins with high absorbency), ElderFit (adult diapers/ incontinence), and Bloom Baby (baby diapers). In addition, H.R. Hygiene Products makes white label sanitary napkins for certain customers and distributes the same using two channels of distribution, i.e., offline and online distribution through e-commerce platforms. As on May 31, 2026, there were a total of 25 SKUs in the product portfolio of the company. Sales and marketing support was provided by the team consisting of more than 99 members and 25 consignment sales agents (CSAs) for 202 distributors. The bulk of revenue comes from western India, with an 84.4% contribution to revenue during FY26, and is led by Gujarat, followed by Maharashtra and Rajasthan. Own-brand sales have increased drastically from ₹4.5 crore in FY24 to ₹123.5 crore in FY26, whereas sales through white labelling have decreased correspondingly. Offline/distributor channel sales account for 92.7% of FY26 sales compared to just 7.2% for online sales. In terms of products, sanitary napkins constitute the highest percentage with 95.3% of FY26 sales, followed by adult and baby diapers contributing 1.8% and 0.2%, respectively.
GMP trend (Grey Market Premium by date)
| Date | GMP (₹) | Est. Listing | Change |
|---|---|---|---|
| 30 Jul | ₹2 | ₹90 | 0 |
| 29 Jul | ₹2 | ₹90 | 0 |
| 28 Jul | ₹2 | ₹90 | 0 |
| 27 Jul | ₹2 | ₹90 | 0 |
| 26 Jul | ₹2 | ₹90 | 0 |
| 25 Jul | ₹2 | ₹90 | 0 |
Strengths
- Strong portfolio of personal hygiene brands across sanitary, baby care, and adult care segments.
- Modern automated manufacturing facility with quality certifications, including ISO, WHO-GMP, and BIS.
- Pan-India distribution network supported by both offline and online sales channels.
- Established brand recognition with products such as Femiss, Womanica, ElderFit, and Bloom Baby.
- Healthy revenue growth and improving profitability in recent years.
- Expansion through a new manufacturing facility is expected to increase production capacity.
- Growing demand for affordable hygiene products provides long-term growth potential.
Risks
- Significant dependence on sanitary napkins for a major share of revenue.
- Operations rely on a single manufacturing facility in Rajkot, Gujarat.
- High geographic concentration of revenue from Gujarat.
- Dependence on purchase orders rather than long-term customer contracts.
- Reliance on a limited number of suppliers for key raw materials.
- Working capital requirements and borrowings may impact cash flows.
- Delay in setting up the new manufacturing unit could affect future growth plans.
Financial performance (₹ Cr)
Subscription breakup (final, times)
IPO Roadmap / Timeline
IPO Opens
Completed29 Jul 2026Bidding starts for all investor categories
IPO Closes
Completed31 Jul 2026Last day to place your bid
Basis of Allotment
Completed03 Aug 2026Share allotment finalised
Refund Initiation
Completed04 Aug 2026Refunds credited for non-allottees
Credit to Demat
Completed04 Aug 2026Allotted shares credited to demat account
Listing on Exchange
Completed05 Aug 2026Shares list on NSE / BSE
Post-close dates are indicative as per SEBI T+3 listing framework and may change per registrar updates.
Lot size & minimum investment
| Investor Type | Min Lots | Min Shares | Min Amount | Max Lots | Max Amount | Notes |
|---|---|---|---|---|---|---|
| Retail / Individual | 1 | 1600 | ₹140,800 | 1 | ₹140,800 | 1 lot only |
| HNI | 2 | 3200 | ₹281,600 | 2 | ₹281,600 | Min 2 lots |
Shares reserved per category & allotment probability
| Category | Reservation | Shares Offered | Amount (₹ Cr) | Shares Bid | Subscribed | Allotment % |
|---|---|---|---|---|---|---|
| QIB | 50% | 3,157,895 | 27 | 2,905,263 | 0.92x | 100% |
| NII | 15% | 947,368 | 8.1 | 2,084,210 | 2.20x | 45.5% |
| Retail | 35% | 2,210,526 | 18.9 | 3,094,736 | 1.40x | 71.4% |
Retail is a lottery-based allotment when oversubscribed; QIB/NII get pro-rata. Probability ≈ 1 / subscription times (100% if under-subscribed).
