Hexagon Nutrition IPO opens: Check price band, lot size and key dates

Research-driven nutrition company Hexagon Nutrition's initial public offering opened for subscription on Friday, June 5. The issue will conclude on June 9. The price band has been set at ₹42 to ₹45 per share.

The ₹138.87 crore initial share sale is solely an offer for sale of 3.09 crore shares, with no fresh issue component.

Under the OFS, promoters Arun Purushottam Kelkar, Nutan Subhash Kelkar, Aditya Kelkar and Subhash Purushottam Kelkar will offload their stake.

"Our company expects that the proposed listing of its equity shares will enhance our visibility and brand image as well as provide liquidity and a public market for the equity shares in India," the firm said in its red herring prospectus (RHP).

Before the IPO, the company raised ₹41.66 crore from anchor investors, including Bandhan Small Cap Fund, Ampersand Growth Opportunities Fund Scheme-I, Visionary Value Fund, CP Capital and Innovative Vision Fund.

Hexagon Nutrition allotted 92.57 lakh shares to these investors at ₹45 apiece, the upper end of the price band.

Hexagon Nutrition IPO: Lot size

A lot consists of 333 shares. Half of the issue is set aside for qualified institutional buyers, 35% for retail investors and 15% for non-institutional investors.

Hexagon Nutrition IPO: Allotment and listing date

Founded in 1993, the company began operations as a micronutrient formulations business and later diversified into branded nutrition products. Its portfolio includes brands such as Obesigo, Pediagold and Pentasure across health, wellness and clinical nutrition segments.

It has a presence in 75 countries and offers products including therapeutic nutrition, clinical nutrition, wellness products, micronutrient premixes and fortified foods.

Hexagon Nutrition IPO GMP

According to investorgain.com and media reports, the unlisted shares of Hexagon Nutrition Ltd were trading at ₹57 per share, reflecting a grey market premium of 26.67% over the upper price band of ₹45.