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Hindustan Laboratories IPO

Hindustan Laboratories IPO is a mainboard IPO scheduled to open for subscription on — and closed on —.

Price Band
TBA
GMP
Subscription
Listing

Overview

Hindustan Laboratories IPO is a mainboard IPO scheduled to open for subscription on — and closed on —.

IPO Details

Hindustan Laboratories IPO is a mainboard initial public offering scheduled to open for subscription on Both. The issue has a price band of TBA per equity share with a lot size of TBA shares, translating to a minimum retail investment of TBA.

The issue size is yet to be confirmed, and subscription dates are yet to be announced. Allotment is expected on and the equity shares are scheduled to list on .

Type
Mainboard
Status
upcoming
Price band
TBA
Face value
₹10 (typical)
Lot size
Min investment (Retail)
TBA
Issue size
Fresh issue
OFS
Exchange
Both
ISIN
TBA

Market Lot

Market lot details will be available once the price band and lot size are finalised in the Red Herring Prospectus.

IPO Reservation

Per SEBI guidelines, Hindustan Laboratories IPO reserves shares across investor categories as follows. Final allotment percentages may vary slightly based on the final issue document.

Category% ReservedNotes
QIB (Qualified Institutional Buyers)Not more than 50%Mutual funds, FIIs, banks, insurance
NII / HNI (Non-Institutional)Not less than 15%Bids ≥ ₹2 lakh
Retail (RII)Not less than 35%Bids up to ₹2 lakh

Important Dates

  1. Issue Open
    · Subscription opens
  2. Issue Close
    · Subscription closes
  3. Allotment
    · Basis of allotment finalised
  4. Refunds Initiated
    · Funds released for non-allottees
  5. Listing Date
    · Shares debut on the exchange

Grey Market Premium

Grey Market Premium for Hindustan Laboratories is yet to be tracked. We update GMP from multiple grey market sources during the subscription window. Bookmark this page and check IPO GMP Today for live updates.

Subscription Status

Hindustan Laboratories IPO subscription tracking will go live once the subscription window opens. Category-wise data (Retail / NII / QIB / Employee) will be available on IPO Subscription Status.

Allotment Status

Hindustan Laboratories IPO allotment will be finalised by the registrar (MUFG Intime India) on . Check your allotment status using your PAN, application number, or DP ID via our allotment status checker or directly on the registrar's website.

If allotment fails, the blocked funds via ASBA / UPI mandate are released back within 24-48 hours. Applying through multiple demat accounts in family members' names improves chances on oversubscribed IPOs.

About Hindustan Laboratories

Hindustan Laboratories Limited is a generic-pharmaceutical-formulations manufacturer focused on the business-to-government (B2G) supply model. The company develops, manufactures and supplies generic-formulation pharmaceuticals primarily to government institutions — central government hospital networks, state-government health departments, defence-medical-services procurement, ESI hospitals, and CGHS supply networks. The B2G generic-pharma model is structurally distinct from B2C (branded generics through chemists) and B2B (formulators selling to other pharma companies) models. Demand drivers are PMJAY expansion + state-level free-medicines programmes + central-government formulary expansion under Jan Aushadhi + defence-medical procurement growth. Demand is policy-anchored and government-budget-cycle dependent rather than consumer-discretionary cyclical. Customer relationships are typically long-tenure procurement-tender contracts with multi-year supply commitments. FY25 financials show healthy growth: revenue ₹227.37 crore (+17% YoY from ₹194.33 crore) and PAT ₹41.27 crore (+21% YoY from ₹34.14 crore). PAT margin at 18.2% is materially better than typical branded-generic-pharma operators (8-12%) — the B2G model with multi-year tender contracts supports higher operating margins than the highly-competitive B2C branded-generic market. SEBI approved the IPO on 27 April 2026 (12-month launch window). The 1.41 crore equity-share issue is structured 35% fresh + 65% OFS (0.50 cr fresh + 0.91 cr OFS) by existing shareholders. Lead manager Choice Capital Advisors and registrar MUFG Intime India indicate standard mainboard book-build setup.

Promoter & Holding Pattern

The promoter and promoter group hold the majority stake in Hindustan Laboratories prior to the IPO. Post-listing, this percentage will reduce as new equity shares are issued to the public. Detailed pre-IPO and post-IPO promoter holding data will be updated once the Red Herring Prospectus is finalised with SEBI.

Objects of the Issue

The Hindustan Laboratories IPO proceeds will be utilised across multiple strategic objectives. Typical objects include capital expenditure for expansion, repayment of debt, general corporate purposes, working capital, and OFS by selling shareholders. Detailed breakdown with amounts will be updated here from the Red Herring Prospectus.

Financial Performance

Three-year financial performance for Hindustan Laboratories (amounts in ₹ Cr):

PeriodRevenueExpensePATTotal AssetsNet Worth
FY25227.3741.27
FY24194.3334.14

Valuation Snapshot

RoE
RoCE
EBITDA Margin
PAT Margin
18.15%
Debt/Equity
EPS
P/E Ratio
RoNW
NAV

Peer Comparison

Listed peers in the Pharmaceuticals sector with key valuation metrics:

CompanyEPS (₹)P/E RatioRoNW (%)NAV (₹)Income (₹ Cr)
JB Chemicals & Pharmaceuticals
Indoco Remedies
Eris Lifesciences

Anchor Investors

Anchor investor bidding for Hindustan Laboratories typically opens one working day before the issue opens to the public. Anchor investors — mutual funds, FIIs, sovereign wealth funds, and insurance companies — collectively subscribe to a portion of the QIB segment. Their participation signals institutional confidence. Anchor list and total amount will be updated once SEBI publishes the anchor filing.

Lead Managers (Merchant Bankers)

  • Choice Capital Advisors

IPO Registrar

The registrar processes all bid applications, finalises the basis of allotment, manages refunds, and credits allotted shares to successful applicants' demat accounts.

Editorial Review

Hindustan Laboratories received SEBI approval on 27 April 2026 for a mainboard IPO (NSE+BSE) — 1.41 crore equity shares with 35% fresh + 65% OFS structure (0.50 cr fresh + 0.91 cr OFS). As of publication, exact issue size in rupees, price band, dates not yet announced. The positioning is structurally interesting and underrated. B2G generic-pharma supply to government institutions is a defensive, policy-anchored revenue base that branded-generic-pharma operators (JB Chemicals, Indoco, Eris) don't have. Government procurement contracts are typically multi-year with stable pricing and predictable volume — translating to higher operating margins than the highly-competitive B2C branded-generic market. FY25 financials validate the model: revenue ₹227.37 crore (+17% YoY), PAT ₹41.27 crore (+21% YoY), PAT margin 18.2%. Margin profile is materially better than typical branded-generic peers (8-12%). The combination of healthy growth + premium margins for a pharma operator at this scale is uncommon. What's working: B2G model with multi-year tender contracts provides defensive recurring revenue; 18.2% PAT margin reflects pricing-stability in government-procurement; healthy 17% revenue + 21% PAT growth trajectory; PMJAY + state free-medicines programmes + Jan Aushadhi + defence-medical procurement all provide structural demand expansion runway; recent SEBI clearance signals positive market-window timing. What's concerning: 65% OFS structure means most proceeds go to selling shareholders rather than operating business; B2G customer concentration risk — single major government procurement contract loss or policy shift impacts revenue materially; tender-cycle pricing pressure as Jan Aushadhi formulary expansion increases price scrutiny; detailed financials beyond top-line + PAT not surfaced in fetched sources at depth. Subscribe pre-RHP. The combination of defensive B2G model, premium PAT margins, healthy growth trajectory, and recent SEBI clearance creates a high-conviction mainboard thesis. The 65% OFS structure is the central caveat — most proceeds don't reach operating business. Wait for RHP and price band, compare against JB Chemicals, Indoco, Eris trailing multiples. Sizing moderate (5-10% of pharma-thematic bucket) given customer-concentration risk in B2G procurement.

How to Apply for Hindustan Laboratories IPO

  1. Open broker app — Zerodha, Upstox, Angel One, Groww, 5paisa, ICICI Direct, or any other SEBI-registered broker. Navigate to the IPO section.
  2. Select Hindustan Laboratories IPO during the bidding window ().
  3. Enter bid details — minimum TBA shares per lot. Retail investors are recommended to bid at cut-off price (upper band).
  4. Submit UPI ID linked to a SEBI-approved bank.
  5. Approve UPI mandate from your UPI app within the deadline. Bid amount is blocked, not debited.
  6. Await allotment on .
  7. Listing day — shares list on Both on .

Risk Factors

1. 65% OFS structure — most proceeds go to selling shareholders; only 35% (~0.50 cr shares) reaches operating business as fresh capital. 2. B2G customer concentration risk — single major government procurement contract loss or policy shift impacts revenue materially. 3. Tender-cycle pricing pressure — Jan Aushadhi formulary expansion increases price scrutiny across government procurement. 4. Government-budget-cycle dependency — multi-year procurement budgets can be compressed in fiscal-stress periods. 5. Regulatory inspection risk — CDSCO + state-FDA audits of manufacturing facilities; any adverse finding compresses affected-segment revenue.

Hindustan Laboratories IPO — FAQs

What is Hindustan Laboratories IPO?
Hindustan Laboratories IPO is a mainboard initial public offering listing on Both. The issue opens on — and closes on — with a price band of TBA per share.
What is the Hindustan Laboratories IPO price band?
The price band for Hindustan Laboratories IPO is TBA per equity share of face value ₹10 (typical). Retail investors are recommended to bid at the upper band (cut-off price).
What is the Hindustan Laboratories IPO lot size?
The minimum lot size for Hindustan Laboratories IPO is TBA shares per application. Minimum retail investment at the upper price band works out to approximately TBA.
When is the Hindustan Laboratories IPO opening date?
Hindustan Laboratories IPO opens for subscription on — and closes on —.
When is the Hindustan Laboratories IPO allotment date?
Basis of allotment is expected on —. Check your status on MUFG Intime India's website using your PAN.
When is the Hindustan Laboratories IPO listing date?
Hindustan Laboratories shares are expected to list on Both on —.
What is the GMP of Hindustan Laboratories IPO?
GMP for Hindustan Laboratories is not currently tracked.
Who is the registrar of Hindustan Laboratories IPO?
MUFG Intime India is handling allotment, refunds, and dematerialisation for Hindustan Laboratories IPO.
How can I apply for Hindustan Laboratories IPO?
Apply via any SEBI-registered broker (Zerodha, Upstox, Angel One, Groww, 5paisa, ICICI Direct) during the open window. Use UPI mandate or ASBA for fund blocking. Bid at cut-off for retail category.
What is the minimum investment?
Minimum retail investment is approximately TBA (1 lot × TBA shares at upper band).
Should I apply for Hindustan Laboratories IPO?
Whether to apply depends on your goals, risk appetite, and the company's fundamentals. Review the RHP, compare valuation with peers, and consult a SEBI-registered advisor.
What happens if my allotment fails?
Bid amount blocked via UPI/ASBA is released back within 24-48 hours. Apply through multiple family demat accounts to improve odds on oversubscribed issues.

Information shown is for educational purposes and does not constitute investment advice. GMP values are unofficial estimates from informal grey market sources. Please read the offer document (Red Herring Prospectus) carefully before investing.

Data sourced from NSE, BSE, the issue's registrar, and public filings. BasicFintech is not affiliated with the issuing company, its underwriters, or the exchanges.

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