Accretion Nutraveda
IPOIssue Details
Issue Size
– Cr
Fresh Issue
– Cr
OFS
– Cr
Price Band
₹122 – ₹129
Lot Size
1000
₹1,29,000
Face Value
₹10
Important Dates
Open Date
28 Jan 2026
Close Date
30 Jan 2026
Allotment
02 Feb 2026
Refund
03 Feb 2026
Listing
04 Feb 2026
About Company
Incorporated in 2021, Accretion Nutraveda Ltd is engaged in the manufacturing of Ayurvedic and Nutraceutical products.
The company manufactures products in multiple dosage forms including tablets, capsules, oral liquids, powders, oils, and external preparations such as balms, creams, and gels.
Accretion Nutraveda operates as a Contract Development and Manufacturing Organization (CDMO) serving both domestic and international markets.
The company’s products are used in therapeutic areas such as liver care, women’s health, bone and joint health, cognitive support, and respiratory wellness.
The company exports to markets including Sri Lanka, Singapore, and the USA.
The manufacturing facility is located in Gujarat with an area of around 10,763 sq. ft. and is equipped with modern infrastructure and separate processing areas.
The facility holds certifications including GMP, WHO-GMP, FSSC 22000, ISO 9001:2015, ISO 45001:2018, and Halal, and has an FSSAI license.
Objects of the Issue
| # | Description | Amount (₹ Cr) |
|---|---|---|
| 1 | Purchase of machineries for automation in existing manufacturing unit | ₹4.22 |
| 2 | Purchase of machineries for new manufacturing setup | ₹8.03 |
| 3 | Funding working capital requirements of the company | ₹5.5 |
| 4 | General corporate purposes | – |
Financial Performance
Share Reservations
QIB
9,08,000
Anchor
0
NII
2,76,000
Retail
6,40,000
Employee
0
Total
19,20,000
RHP Insights
AI-powered analysis from Red Herring Prospectus
Strong Revenue and Profit Growth
The company has shown significant financial growth, with Net Profit after Tax increasing from ₹28.06 lakhs in FY 2023 to ₹261.28 lakhs in FY 2025. EBITDA also rose from ₹59.12 lakhs to ₹364.66 lakhs in the same period.
Impact: HighPersistent Negative Operating Cash Flows
Despite rising profits, the company reported negative cash flow from operating activities of ₹(221.27) lakhs in FY 2025, primarily due to increases in inventories, trade receivables, and other current assets.
Impact: LowOngoing Criminal Litigation Against Promoters
A criminal complaint has been filed by the Assistant Drugs Controller, Mysuru, against the Company and its Promoters (Harshad Nanubhai Rathod and Vivek Ashokkumar Patel) under the Drugs and Cosmetics Act, 1940.
Impact: NeutralHigh Inventory Concentration
Inventories constitute a significant portion of total assets, accounting for 42.26% (₹459.04 lakhs) as of March 31, 2025. Inability to manage this inventory or accurately forecast demand poses a financial risk.
Impact: LowHealthy Leverage Ratio
The company maintains a conservative debt-to-equity ratio of 0.72 as of March 31, 2025, which is well within the regulatory and prudent limit of 3:1.
Impact: HighSWOT Analysis
AI-generated strategic view
Strengths
- •Experienced promoters and management team.
- •Diverse product portfolio across various dosage forms and therapeutic areas.
- •Commitment to quality standards with multiple national and international certifications.
- •Established relationships with clients and suppliers.
- •Established business processes and management framework.
Weaknesses
- •Negative cash flows from operating activities in FY 2025 due to increases in inventories and trade receivables.
- •Negative cash flows from investing activities in FY 2023, 2024, and 2025 due to heavy capital expenditure.
- •Limited experience of certain Key Management Personnel (KMP) who have been with the company for less than one year.
- •Geographic concentration of revenue, with a significant majority generated within the state of Gujarat.
- •Dependency on third-party providers for critical product testing and certification.
Opportunities
- •Expanding the global footprint through increased direct exports and new product registrations in international markets.
- •Strengthening the sales and marketing network to drive domestic growth.
- •Diversifying the product portfolio further to meet evolving market demands.
- •Leveraging existing customer relationships to secure larger and more diverse contracts.
Threats
- •High degree of regulatory scrutiny and potential for changes in laws governing pharmaceutical and nutraceutical sectors[cite: 10, 11].
- •Intense competition in the healthcare and CDMO industry.
- •Risk of product liability claims or product recalls which could damage brand reputation.
- •Dependency on a few key customers for a significant portion of revenue.
- •Potential conflicts of interest as promoters' other entities may deal in competitors' products.
- •Operational risks such as labor shortages, strikes, or industrial accidents.
Accretion Nutraveda IPO Peer Comparison
The table below shows peer comparison from DRHP/RHP.
| Company | EPS Basic | EPS Diluted | NAV | P/E(x) | RoNW | Financial statements |
|---|---|---|---|---|---|---|
| Accretion Nutraveda Limited | 7.19 | 7.19 | 14.72 | – | 48.85 | Consolidated |
| Walpar Nutritions Ltd | 1.8 | 1.8 | 13.65 | 23.94 | 11.27 | Consolidated |
| Influx Healthtech Limited | 7.31 | 7.31 | 5.31 | 25.93 | 36.72 | Consolidated |
Accretion Nutraveda - Documents & Links
Registrar
Company contact
Accretion Nutraveda Ltd.
Address: 27 Xcelon Industrial Park-1, Vasna-Chacharwadi, Taluka Sanand, Ahmedabad, Gujarat, 382213
compliance@accretionnutraveda.comhttp://www.accretionnutraveda.com/Lead managers
Frequently Asked Questions
Common questions about Accretion Nutraveda IPO.