H.R. Hygiene Products IPO Day 1: Subscription status at 13; check, GMP, price band and key details

The initial public offering (IPO) of H.R. Hygiene Products Limited opened for subscription on Wednesday, providing investors with an opportunity to participate in the company’s growth story. The Rs 43.17 crore SME IPO received an early response from investors, with the issue subscribed 13% within the opening hours against the total offer size of 44.44 lakh shares.

The IPO will remain open for bidding for three days and will close on July 31, 2026. Meanwhile, the company’s shares are trading at a 2% premium in the grey market, indicating a positive but muted listing expectation.

H.R. Hygiene Products IPO Subscription Status

On Day 1 of the IPO, as of 10:30 am, H.R. Hygiene Products IPO was subscribed 13% overall, with investors bidding for shares against the total issue size of 44.44 lakh shares.

The Individual Investor category received a subscription of 13% against the 20.83 lakh shares reserved for the segment. Meanwhile, the Non-Institutional Investor (NII) category saw stronger demand, with subscriptions reaching 25% of the 20.83 lakh shares offered.


The Qualified Institutional Buyers (QIBs) category has not received any bids so far against the 11.22 lakh shares reserved for institutional investors.

H.R. Hygiene Products IPO GMP today

The grey market premium (GMP) for H.R. Hygiene Products SME IPO stands at around Rs 2 per share, or 2.27% premium over the upper issue price of Rs 88. Based on the current GMP trend, the estimated listing price is around Rs 90 per share, suggesting limited but positive listing gains for investors if market conditions remain supportive.

H.R. Hygiene Products IPO Key Details

H.R. Hygiene Products IPO is a combination of a fresh issue of 0.49 crore shares worth Rs 43.17 crore and an offer for sale (OFS) of 0.12 crore shares aggregating Rs 10.79 crore.

The company has fixed the IPO price band at Rs 83 to Rs 88 per share. Investors can apply in a minimum lot size of 1,600 shares.

At the upper price band of Rs 88 per share, the minimum investment required for retail investors is Rs 2,81,600 for 3,200 shares.

The IPO allotment is expected to be finalized on August 3, 2026, while the shares are scheduled to list on the BSE SME platform on August 5, 2026.

Book Running Lead Manager: Marwadi Chandarana Intermediaries Brokers Pvt. Ltd. Registrar: Purva Sharegistry (India) Pvt. Ltd.

Anchor Investors’ Response

Ahead of the public issue, H.R. Hygiene Products raised Rs 14.84 crore from anchor investors. The anchor bidding process was conducted on July 28, 2026.

Where Will H.R. Hygiene Products Use IPO Funds?

The company intends to deploy the net proceeds from the IPO primarily towards business expansion and strengthening its financial position. A major portion of the funds, amounting to Rs 31.36 crore, will be utilized for setting up a new manufacturing facility at Rajkot, Gujarat (Proposed Unit 2). Additionally, Rs 3.57 crore will be used for the prepayment or repayment of existing loans, while the remaining funds will be allocated towards general corporate purposes. The total amount proposed to be utilized from the net proceeds stands at Rs 34.93 crore.

About H.R. Hygiene Products Ltd.

Incorporated in 2016, H.R. Hygiene Products Limited is engaged in the manufacturing and marketing of hygiene and personal care products, with sanitary napkins forming the company’s core business.

The company operates multiple in-house brands, including Femiss, Womanica, ElderFit, and Bloom Baby, catering to different consumer segments such as women, babies, and elderly users.

Apart from selling products under its own brands, the company also manufactures hygiene products through white-label arrangements for select customers. Over the years, it has expanded its portfolio across female care, adult care, and baby care categories.

With the proposed manufacturing expansion in Gujarat and improving financial performance, investors will closely track subscription trends and grey market movement during the remaining IPO period.

H.R. Hygiene Products Financial Performance

The company has reported consistent financial growth in recent years. In FY26, total income increased 14.5% to Rs 131.90 crore, compared with Rs 115.15 crore in FY25. Profitability also improved, with profit after tax (PAT) rising 25.7% to Rs 11.41 crore in FY26, compared with Rs 9.08 crore in the previous financial year.

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