What happened to Hanung Toys and Textiles Limited?

Hanung Toys and Textiles Limited underwent severe financial difficulties starting around 2012–2014, defaulting on over INR 2,500 crore of bank loans. The company was admitted into the Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code (IBC). Operations were heavily disrupted and the company's equity value was virtually wiped out.

What did Hanung Toys manufacture?

Hanung Toys manufactured soft toys (teddy bears, stuffed animals), cushions, quilts, pillows, mattresses, and home furnishing textiles. It was a major exporter to global retailers like Walmart and Target.

Is Hanung Toys still operational?

As of the latest available information, Hanung Toys' operations are severely impaired or suspended due to insolvency proceedings. The CIRP process has been ongoing, with resolution subject to the National Company Law Tribunal (NCLT) process.

Who are the promoters of Hanung Toys?

The erstwhile promoter was Ashok Kumar Bansal. Due to insolvency proceedings, management control was taken over by an Insolvency Resolution Professional (IRP) under NCLT oversight.

What is the ISIN of Hanung Toys and Textiles Limited?

The ISIN of Hanung Toys and Textiles Limited is INE285H01014.

How do I buy Hanung Toys and Textiles Limited unlisted shares here?

Raise an enquiry on any company with the quantity you want. Our desk sources the shares and comes back with a firm price and allocation. You accept the allocation, transfer the funds to the desk's published bank account, and once we verify payment the shares are transferred into your demat.

Who am I actually transacting with?

You transact with the desk, not with an anonymous counterparty. When you buy, you buy from the desk; when you sell, you sell to the desk. Shares always route through the desk's own demat account, so there's one accountable party for the whole trade.

How do I pay, and is there a payment gateway?

Payment is by direct bank transfer to Prospire Network Private Limited's published account (CIN U82300UP2025PTC233622), shown to you in-app at the payment step. There is no card gateway and no escrow. Never pay to a personal account or to any account shared over phone, WhatsApp or email — even if the person claims to be from our team.

How long does settlement take?

After you accept an allocation, you have a short window to pay (typically 2 days). Once payment is verified, shares are usually credited to your demat within 2–3 business days, subject to depository timelines and any company-level restrictions. Timeframes are typical, not guaranteed.

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Is there a minimum ticket size for Hanung Toys and Textiles Limited?

Minimums vary by company and depend on the lot the desk can source. Raise an enquiry and the desk will confirm the available quantity and the minimum for that name.

What KYC do I need, and do I need a demat account?

You'll share your demat details when you enquire so we can settle directly. Full KYC — PAN and a client-master / demat statement — is required before the transfer step, when shares actually change hands. Yes, you need an active demat account to hold unlisted shares.

Are there lock-ins on unlisted or pre-IPO shares?

Some shares carry statutory or company-imposed lock-ins — for example, a post-listing lock-in on pre-IPO stock — and transfers can be subject to the company's articles or approvals. Where a lock-in applies, we'll flag it before you commit.

How do I sell Hanung Toys and Textiles Limited shares I already hold?

Raise a sell enquiry with the company, quantity and your target price. The desk confirms a buying price, you transfer your shares into the desk's demat, and once the credit is verified we pay you out by bank transfer to your registered account. The desk never pays out before your shares are received.

Unlisted shares are illiquid, may be hard or impossible to sell, and are not covered by exchange settlement guarantees or investor-protection funds. Pricing is indicative, not live. Read the full Risk Disclosure before you enquire, and invest only what you can afford to lock away.

Hanung Toys and Textiles Limited Unlisted Share Price | Buy Hanung Toys and Textiles Limited Pre-IPO Shares — wisefolio

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Hanung Toys and Textiles Limited Unlisted Share Price | Buy Hanung Toys and Textiles Limited Pre-IPO Shares — wisefolio | wisefolio

Investment Thesis

WARNING: Hanung Toys and Textiles Limited is a severely distressed company under active Corporate Insolvency Resolution Process (CIRP). Once India's largest soft toy manufacturer and exporter, the company collapsed under massive debt and alleged financial misconduct. With a share price of INR 0.04 and insolvency proceedings ongoing, existing shareholders face near-certain total loss of equity. This company should be treated as a highly speculative/distressed asset, not a normal investment.

Pros

Was once India's largest soft toys and home furnishings manufacturer and exporter, with a globally recognized brand presence
Had diversified product portfolio spanning soft toys, cushions, quilts, pillows, mattresses, and home furnishing textiles
Significant export history with products sold to major global retailers like Walmart, Target, Tesco, and various European chains
Manufacturing facilities in Greater Noida, UP — well-located for export and domestic distribution
At peak, the company employed over 10,000 workers, reflecting the scale of its integrated manufacturing operations

Cons

CRITICAL: Company underwent Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code (IBC). This is a major red flag and investment risk.
Massive debt default: The company defaulted on bank loans exceeding INR 2,500 crore, making it one of the notable NPA accounts in the consumer goods sector
Promoter Ashok Kumar Bansal faced serious legal and financial scrutiny; allegations of fund diversion and mismanagement were reported
Extremely low share price (INR 0.04) reflects near-total erosion of equity value
Operations were significantly curtailed or shut down during insolvency proceedings, destroying business continuity
History of financial misrepresentation and inflated export figures reportedly cited by lenders and investigators
Virtually no realistic prospect of equity value recovery for shareholders post-CIRP resolution

Business Segments

Soft Toys Manufacturing

Manufacturing of stuffed/soft toys including teddy bears, plush animals, and character toys for domestic and export markets. Was the primary revenue driver and the company's original business.

Home Furnishings & Textiles

Manufacturing of cushions, pillows, quilts, mattresses, and home furnishing textiles. Diversified into this segment to leverage manufacturing capabilities and export customer relationships.

Other / Trading

Ancillary trading and distribution activities.

Revenue Model

Hanung Toys generated revenue through B2B export contracts with global retailers (Walmart, Target, Tesco, Carrefour, etc.) and domestic wholesale/retail distribution of soft toys and home furnishing products. Export revenues were the dominant driver, denominated largely in USD/EUR. The business model relied on large-volume, low-margin manufacturing with significant working capital financing from banks.

Detailed Analysis

Growth outlookExpansion plans, industry tailwinds & headwinds10

Growth Plans

Potential acquisition of Hanung's manufacturing assets by a strategic investor through the CIRP resolution plan

India's toy manufacturing sector receiving policy support (PLI scheme, import duty hikes on Chinese toys) could make the assets attractive to new investors

Resolution professional successfully finding a buyer for the manufacturing assets, potentially reviving some operations

Industry Tailwinds

Recent Developments

CIRP proceedings ongoing at NCLT

The insolvency resolution process has been ongoing, with the National Company Law Tribunal overseeing the case. Resolution applicants and the committee of creditors have been evaluating resolution plans.

2022-2024

Lender write-offs and NPA resolution

Multiple consortium banks including Punjab National Bank made provisions and partial write-offs against Hanung Toys' outstanding loans as part of NPA resolution measures.

2021

NCLT CIRP order

The NCLT formally admitted the CIRP petition against Hanung Toys and Textiles Limited, triggering the statutory moratorium and appointment of an Insolvency Resolution Professional.

2019

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Frequently Asked Questions

About Hanung Toys and Textiles Limited

Hanung Toys and Textiles Limited was a New Delhi-based manufacturer of soft toys and home furnishings incorporated on 10 October 1990. With CIN L74999DL1990PLC041722, the company was once India's largest soft toy manufacturer and a major exporter to global markets including the US and Europe. At its peak, the company employed thousands of workers and had revenues of several hundred crore rupees. However, Hanung Toys went through a catastrophic financial collapse. The company defaulted on Rs 1,316 crore in payments to Punjab National Bank in March 2019, triggering insolvency proceedings under the Insolvency and Bankruptcy Code. The company was subsequently acquired by Cyfuture India Private Limited for Rs 78 crore under the Corporate Insolvency Resolution Process (CIRP), implying a creditor haircut of approximately 98.5%. Operations effectively ceased in 2018. The company has been delisted from NSE and BSE. Hanung's collapse was attributed to over-leveraged expansion, working capital mismanagement, and the founder Ashok Kumar Bansal's alleged financial irregularities. The case became a landmark in India's IBC jurisprudence. Any shares in this company have essentially zero investment value.

Key Milestones

1990: Hanung Toys and Textiles Limited incorporated in New Delhi by Ashok Kumar Bansal

1990s–2000s: Rapid growth as India's premier soft toys exporter; secured major global retail accounts

Common questions about unlisted shares

How do I buy Hanung Toys and Textiles Limited unlisted shares here?
Raise an enquiry on any company with the quantity you want. Our desk sources the shares and comes back with a firm price and allocation. You accept the allocation, transfer the funds to the desk's published bank account, and once we verify payment the shares are transferred into your demat.
Who am I actually transacting with?
You transact with the desk, not with an anonymous counterparty. When you buy, you buy from the desk; when you sell, you sell to the desk. Shares always route through the desk's own demat account, so there's one accountable party for the whole trade.
How do I pay, and is there a payment gateway?

Risk factors & red flagsInvestment risks and items flagged from public filings10

Insolvency RiskHigh

Company is under active CIRP proceedings under IBC. Equity shareholders are the last in the waterfall of claims and are highly unlikely to recover any value in a resolution or liquidation.

Source: IBBI / MCA Public Records

Fraud / GovernanceLow

Allegations of fund diversion, financial misrepresentation, and inflated export figures have been reported against the erstwhile promoter. Legal proceedings are ongoing.

Source: Media Reports / Public Records

Insolvency RiskHigh

Operations have been curtailed or suspended; the manufacturing workforce has been displaced. Business continuity is uncertain pending CIRP resolution.

Source: IBBI / MCA Public Records

Fraud / GovernanceLow

Even as an unlisted entity, the share price of INR 0.04 signals near-total loss of equity value. There is virtually no secondary market liquidity.

Source: Media Reports / Public Records

Regulatory / LegalHigh

Multiple civil and criminal proceedings, lender recovery suits, and regulatory investigations create ongoing legal uncertainty around the company's assets and management.

Source: Media Reports / Public Records

Insolvency Risk (CRITICAL)

Company is under active CIRP proceedings under IBC. Equity shareholders are the last in the waterfall of claims and are highly unlikely to recover any value in a resolution or liquidation.

Promoter Misconduct Risk

Allegations of fund diversion, financial misrepresentation, and inflated export figures have been reported against the erstwhile promoter. Legal proceedings are ongoing.

Operational Risk

Operations have been curtailed or suspended; the manufacturing workforce has been displaced. Business continuity is uncertain pending CIRP resolution.

Liquidity Risk

Even as an unlisted entity, the share price of INR 0.04 signals near-total loss of equity value. There is virtually no secondary market liquidity.

Legal Risk

Multiple civil and criminal proceedings, lender recovery suits, and regulatory investigations create ongoing legal uncertainty around the company's assets and management.

Hanung Toys and Textiles Limited

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