H. R. HYGIENE PRODUCTS LIMITED IPO
Registrar: Purva Sharegistry (India) Private Limited · Lead: Marwadi Chandarana Intermediaries Brokers Private Limited · Listing on BSE SME
IPO Lot Size
1600 shares / lot · ₹88 upper bandInvestors can bid for a minimum of 1600 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 2 | 3,200 | ₹2,81,600 |
| Retail (Max) | 2 | 3,200 | ₹2,81,600 |
| S-HNI (Min) | 3 | 4,800 | ₹4,22,400 |
| S-HNI (Max) | 7 | 11,200 | ₹9,85,600 |
| B-HNI (Min) | 8 | 12,800 | ₹11,26,400 |
About the company
H. R. Hygiene Products Limited (formerly H. R. Hygiene Products Private Limited) was incorporated on July 21, 2016, and converted to a public limited company on February 10, 2025. The company is a manufacturer of hygiene products with a growing presence in the Indian market, operating under brands such as Femiss, Womanica, ElderFit, and Bloom Baby. These brands cater to a diverse range of consumer needs, including sanitary napkins for economic and premium segments, specialized hygiene care for the elderly, and baby care products.
The company distributes its products pan-India through a dual-channel strategy, encompassing an extensive offline retail network with dealers and various e-commerce platforms like Meesho, Amazon, Glowroad, Flipkart, Snapdeal, and JioMart. Serving both B2B and B2C customers, H. R. Hygiene Products Limited has a diversified customer base of over 200 customers across 28 states and 8 union territories in India, with a strong presence in Western India (Gujarat, Maharashtra, and Rajasthan). As of August 31, 2025, the company offers 25 SKUs across its product range and operates a state-of-the-art production facility in Rajkot, Gujarat, which is ISO 9001:2015 and WHO-GMP certified.
Objectives of the issue
- Setting up a new manufacturing facility at Rajkot, Gujarat (Proposed facility Unit 2).
- Prepayment / repayment of Loan.
- General corporate purposes (not exceeding 15% of Gross Proceeds from Fresh Offer or ₹10 crore, whichever is lower).
- To obtain the benefits of listing the Equity Shares on the Stock Exchanges.
Key strengths
- State-of-the-art production facility with automated systems and high-quality standards.
- Dual Channel Strategy for distribution (offline retail and e-commerce platforms) with pan-India presence.
- Strong brand affinity and customer trust developed through brands like Femiss, Womanica, ElderFit, and Bloom Baby.
- Comprehensive quality certifications including ISO 9001:2015, WHO-GMP, and BIS.
- Experienced founder-led management team with deep industry knowledge.
- Structured brand building and marketing strategy, including social media and educational campaigns.
- Focus on operational efficiency and supply chain optimization with lean manufacturing practices.
Key risks
- Outstanding legal proceedings and non-compliances involving the Company, Promoters, Directors, and KMP may adversely affect business, financial condition, and reputation.
- High product category and geographical concentration make the business vulnerable to adverse market and regional developments.
- Inability to adapt to evolving consumer preferences and market trends could reduce demand and market share.
- Dependence on a limited number of suppliers and contract manufacturers for critical raw materials and products exposes the company to supply chain disruptions and cost fluctuations.
- Past negative net cash flows from operating and investing activities may affect future liquidity and financial stability.
- Delays in implementing the proposed manufacturing facility expansion or failure to effectively utilize new capacities could hinder growth and profitability.
- The company operates in a highly competitive market, facing pressure from global players and D2C brands, which may impact margins and customer loyalty.
- Inadequate insurance coverage and susceptibility to unfair competitive or trade practices (e.g., counterfeits) could lead to significant losses and erode brand trust.
- Failure to obtain or renew necessary government registrations, licenses, and permits, or adverse changes in regulations, could disrupt operations.
- The determination of the Offer Price and future market price of Equity Shares is subject to various factors and assumptions, and an active trading market may not develop.