India’s IPO market has remained active in early 2026, with several SME offerings gaining attention from investors tracking niche, fast-growing segments. Rising focus on healthcare, wellness, and preventive nutrition has also brought Ayurvedic and nutraceutical manufacturing businesses into the spotlight, especially those catering to both domestic demand and export markets.
Against this backdrop, Accretion Nutraveda Limited is set to open its IPO on January 28, 2026. Here is a detailed insight into the company, its IPO, and the industry outlook.
About Accretion Nutraveda Ltd.
Incorporated in 2021, Accretion Nutraveda Limited is engaged in the manufacturing of Ayurvedic and nutraceutical products across multiple dosage forms such as tablets, capsules, oral liquids, powders, oils, and external preparations including balms, creams, and gels.
The company operates as a Contract Development and Manufacturing Organisation (CDMO) and serves both domestic and international markets such as Sri Lanka, Singapore, and the USA. Its product approach blends classical Ayurvedic principles with modern nutraceutical science, focusing on health areas such as liver care, women’s health, bone and joint health, cognitive support, and respiratory wellness.
Business Verticals
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Domestic Sales and Merchant Exports (Loan License Basis) contributing 96.62% of total revenue in FY 2024 to 25
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Direct Exports contributing 38%, with consistent growth
The company’s manufacturing facility is located in Gujarat and spans around 10,763 sq. ft., equipped with modern infrastructure including 13 air handling units, separate processing areas, and quality control systems. The facility holds GMP, WHO GMP, FSSC 22000, ISO 9001:2015, ISO 45001:2018, and Halal certifications, along with an FSSAI license.
Accretion Nutraveda IPO Details
Accretion Nutraveda IPO is a book build issue of ₹24.77 crores, and the issue is entirely a fresh issue of 0.19 crore shares. The proceeds are proposed to be utilised for automation, new manufacturing setup, working capital needs, and general corporate purposes.
Important IPO Timeline
| Event | Date |
|---|---|
| IPO Open Date | January 28, 2026 |
| IPO Close Date | January 30, 2026 |
| Allotment Date (Tentative) | February 2, 2026 |
| Initiation of Refunds | February 3, 2026 |
| Credit of Shares to Demat | February 3, 2026 |
| Listing Date (Tentative) | February 4, 2026 |
| Anchor Bid Date | January 27, 2026 |
Key IPO Details
| Particulars | Details |
|---|---|
| Face Value | ₹10 per share |
| Issue Price Band | ₹122 to ₹129 per share |
| Lot Size | 1,000 Shares |
| Total Issue Size | 19,20,000 shares (aggregating up to ₹25 Cr) |
| Fresh Issue | 19,20,000 shares (aggregating up to ₹25 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE SME |
| Shareholding Pre Issue | 53,20,000 shares |
| Shareholding Post Issue | 72,40,000 shares |
| Market Cap (Pre IPO) | ₹93.40 Cr |
Lot Size of Accretion Nutraveda IPO
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Individual investors (Retail) (Min) | 2 | 2,000 | ₹2,58,000 |
| Individual investors (Retail) (Max) | 2 | 2,000 | ₹2,58,000 |
| S-HNI (Min) | 3 | 3,000 | ₹3,87,000 |
| S-HNI (Max) | 7 | 7,000 | ₹9,03,000 |
| B-HNI (Min) | 8 | 8,000 | ₹10,32,000 |
IPO Reservation Details
| Investor Category | Shares Offered |
|---|---|
| Market Maker Shares Offered | 96,000 (5.00%) |
| QIB Shares Offered | 9,08,000 (47.29%) |
| Anchor Investor Shares Offered | 5,44,000 (28.33%) |
| QIB (Ex Anchor) Shares Offered | 3,64,000 (18.96%) |
| NII (HNI) Shares Offered | 2,76,000 (14.37%) |
| bNII (> ₹10L) | 1,84,000 (9.58%) |
| sNII (< ₹10L) | 92,000 (4.79%) |
| Retail Shares Offered | 6,40,000 (33.33%) |
| Total Shares Offered | 19,20,000 (100.00%) |
Competitive Strengths
• Experienced promoters and management team
• Diverse product portfolio across multiple dosage forms
• Commitment to quality standards and certifications
• Strong relationships with clients and suppliers
• Established business process and management framework
Accretion Nutraveda Ltd. Financials
The Accretion Nutraveda IPO has a pre IPO market capitalisation of ₹93.40 crore. As of September 30, 2025, the company reported strong profitability metrics, including ROE of 68.54%, ROCE of 49.09%, and a PAT margin of 16.59%.
Key Company Financials
| Period Ended | Sep 30, 2025 | Mar 31, 2025 | Mar 31, 2024 | Mar 31, 2023 |
|---|---|---|---|---|
| Assets (₹ Cr) | 16.35 | 10.86 | 4.64 | 4.06 |
| Total Income (₹ Cr) | 14.07 | 16.06 | 5.20 | 3.07 |
| Profit After Tax (₹ Cr) | 2.33 | 2.61 | 0.82 | 0.28 |
| EBITDA (₹ Cr) | 3.29 | 3.65 | 1.21 | 0.59 |
| Net Worth (₹ Cr) | 8.26 | 5.35 | 1.08 | 0.26 |
| Reserves and Surplus (₹ Cr) | 2.95 | 4.86 | 0.72 | -0.10 |
| Total Borrowing (₹ Cr) | 4.43 | 3.86 | 2.17 | 1.97 |
IPO Objects of the Issue
| Issue Object | Estimated Amount (₹ Cr) |
|---|---|
| Purchase of machineries for automation in existing manufacturing unit | 4.22 |
| Purchase of machineries for new manufacturing setup | 8.03 |
| Funding working capital requirements | 5.50 |
| General corporate purposes | Not specified |
Key Performance Indicators (KPI)
| KPI | Sep 30, 2025 | Mar 31, 2025 |
|---|---|---|
| ROE | 68.54% | 81.22% |
| ROCE | 49.09% | 36.98% |
| Debt Equity | 0.54 | 0.72 |
| RoNW | 56.50% | 48.85% |
| PAT Margin | 16.59% | 16.33% |
| EBITDA Margin | 23.36% | 22.79% |
| Price to Book Value | 7.71 | 8.76 |
Peer Comparison
| Metric | Pre IPO | Post IPO |
|---|---|---|
| EPS (₹) | 4.91 | 6.44 |
| P E (x) | 26.27 | 20.02 |
| Promoter Holding | 100% | 73.48% |
| Market Cap | ₹93.40 Cr | ₹93.40 Cr |
IPO Anchor Investors
Accretion Nutraveda IPO raised ₹7.02 crore from anchor investors. The anchor bid date was January 27, 2026.
| Particulars | Details |
|---|---|
| Bid Date | January 27, 2026 |
| Shares Offered | 5,44,000 |
| Anchor Portion | ₹7.02 Cr |
| Lock in end date for 50% shares (30 Days) | March 4, 2026 |
| Lock in end date for remaining shares (90 Days) | May 3, 2026 |
IPO Review
As per the review by Dilip Davda, the company is engaged in Ayurvedic and nutraceutical manufacturing for healthcare. While the company has shown growth in top and bottom lines, the boosted performance from FY25 onwards raises concerns regarding sustainability in a competitive and fragmented segment. Based on recent financials, the issue is viewed as highly priced, and there may be no strong compulsion to apply.
Conclusion
Accretion Nutraveda Limited offers exposure to the Ayurvedic and nutraceutical CDMO business, backed by a certified manufacturing facility and a diversified product portfolio across multiple dosage forms. Its presence across domestic sales, merchant exports, and direct exports provides a multi-channel revenue profile. However, investors may want to closely evaluate pricing, sustainability of recent growth, and competitive pressures in the healthcare manufacturing segment before making an investment decision.
