OmniActive Health Technologies is weighing an IPO that could raise up to $300 million, Mint reported, in a potential public-market debut for an Indian supplier of nutraceutical ingredients.
Mint’s Oct. 23 report, citing two people familiar with the discussions, put the possible valuation near $1 billion and described the talks with bankers as exploratory. It said the offering could combine newly issued shares with sales by TA Associates and the promoter group. The proposal remains unconfirmed by OmniActive.
In CRISIL Ratings’ September 2025 records, TA Associates accounted for roughly 56% of the company and the Mariwala family for 40%; other shareholders held the remainder. Investec, which advised sellers in a 2021 transaction, said TA acquired about 54% of OmniActive in a deal valued at $150 million; the figures refer to different dates.
A spokesperson told Mint that “there is no material development or definitive transaction under consideration.” TA Associates’ portfolio profile describes OmniActive as a supplier of branded ingredients used in supplements, functional foods and beverages. CRISIL identified repeat customer relationships, lower costs and limited product-substitution risk as strengths. It also flagged reliance on a concentrated set of customers and products, as well as the availability and cost of agricultural inputs.
CRISIL Ratings reported operating income of Rs 886 crore for FY2025, a 6% increase from Rs 837 crore in FY2024. Adjusted profit after tax totaled Rs 165 crore in FY2025, compared with Rs 144 crore a year earlier. The fiscal years ended March 31, 2025, and March 31, 2024, respectively.
CRISIL’s account of the first half of FY2026 put sales at Rs 414 crore and adjusted operating margins at 29% to 30%; sales matched the comparable period a year earlier. The agency cited U.S. tariff uncertainty and postponed product launches as factors holding back near-term growth. It said a substantial portion of OmniActive’s group revenue comes from the U.S., exposing the business to trade-policy changes.
Mint did not name the bankers, identify an exchange or give a timetable for the potential offering.
