The Rs 139 crore Hexagon Nutrition IPO got off to a steady start on Day 1 of bidding, with overall subscription reaching 37% of the 2.16 crore shares on offer. Retail investors showed stronger interest, subscribing 62% of their quota, while Non-Institutional Investors (NIIs) came in at 30%.
The issue, which opened on Friday, will remain open for three days and close on June 9, 2026.
Meanwhile, grey market sentiment remains upbeat. The IPO is currently commanding a premium of around 27% (Rs 12) over its issue price of Rs 45, indicating an estimated listing price of about Rs 57 per share.
The entire issue is structured as an Offer for Sale (OFS) of 3.09 crore shares, aggregating Rs 138.87 crore. The allotment is expected on June 10, 2026, with listing scheduled on NSE and BSE on June 12, 2026.
The price band has been fixed at Rs 42–Rs 45 per share, with a lot size of 333 shares. Retail investors need a minimum investment of Rs 14,985 at the upper price band to apply.
Hexagon Nutrition IPO Subscription Status
As per BSE data, the Rs 139 crore Hexagon Nutrition IPO was subscribed 37% overall by 11:25 AM on Day 1.
Retail Individual Investors (RIIs) led the participation, subscribing 62% of their allotted quota of 1.08 crore shares.
Non-Institutional Investors (NIIs) showed moderate interest, with 30% subscription for the 46.26 lakh shares reserved for them.
Qualified Institutional Buyers (QIBs), however, are yet to place any bids for their portion of 61.72 lakh shares at this stage of the offering.
Incorporated in 1993, Hexagon Nutrition Ltd. is a research-focused nutrition company engaged in the development and manufacturing of a wide range of products, including micronutrient premixes, branded wellness and clinical nutrition solutions, therapeutic formulations, and ready-to-use foods.
The company operates four manufacturing facilities, three in India located at Nasik (Maharashtra), Chennai (Tamil Nadu), and Thoothukudi (Tamil Nadu), along with an international unit in Tashkent, Uzbekistan. Its two SEZ-based facilities in Chennai and Thoothukudi offer logistical advantages such as port proximity and duty-free imports, strengthening export efficiency.
Hexagon Nutrition’s portfolio is broadly divided into three key segments:
Branded wellness and clinical nutrition products (B2C)
Ready-to-Use Foods (RUFs) and Micronutrient Powders (MNPs) aligned with ESG-focused initiatives
The company has built a strong omnichannel distribution network across India, spanning retail pharmacies, hospital chains, e-commerce platforms, online pharmacies, and its own digital brands such as Pentasure, Obesigo, Pediagold, and Nutrone. Domestically, it works with over 358 distributors, including eight with multi-state operations.
On the global front, Hexagon Nutrition has established offices in South Africa, Uzbekistan, and Hong Kong, supporting exports to more than 75 countries across Asia, Africa, Europe, and South America between FY23 and FY25.
Hexagon Nutrition has demonstrated steady growth momentum, with FY25 performance reflecting stronger profitability. Total income increased to Rs 331.29 crore in FY25 from Rs 304.62 crore in FY24. During the same period, profit after tax (PAT) nearly doubled to Rs 24.38 crore from Rs 12.21 crore, while EBITDA rose significantly to Rs 40.07 crore from Rs 24.88 crore.
For the period ended December 31, 2025, the company reported total income of Rs 275.57 crore, PAT of Rs 27.03 crore, and EBITDA of Rs 37.55 crore.
The issue is being managed by Catalyst Capital Partners Private Limited and Cumulative Capital Private Limited, with KFin Technologies Limited acting as the registrar.
