Striders Impex IPO...
20 Feb, 2026
Hexagon Nutrition IPO
The Hexagon Nutrition IPO is a 100% book-built issue, based on its DRHP dated September 23, 2025. The issue comprises an Offer for Sale (OFS) of approx. 30,859,704 equity shares. Each equity share has a face value of ₹1.
The price band, opening date, closing date, and all the confidential information will be disclosed by the company later, but the shares will be listed on the BSE and the NSE platforms. The Book Running Lead Managers (BRLMs) of the Hexagon Nutrition IPO are Cumulative Capital Private Ltd. and Catalyst Capital Partners Private Ltd. The registrar to the issue of this IPO is KFin Technologies Ltd. The shares will be listed on the BSE and the NSE.
Company Background
Hexagon Nutrition Ltd. was incorporated in the year 1993 as Hexagon Chemoils Pvt Ltd. Over 3 decades (i.e., over 30 years), the organization was transformed from a private to a public firm and to its current name in November 2021.
The head company of this firm is headquartered in Mumbai, Maharashtra. The company has created a reputation for itself as an organization dedicated to research-oriented work in the field of nutrition. According to this company's details, this firm functions with an objective to fill nutritional gaps through its diverse range of offerings for human as well as animal health segments.
Operations & Product Range
Hexagon Nutrition Ltd.’s operations are divided into core segments: micronutrient premixes, clinical nutrition and animal feed. Its services span the entire value chain, from research and development (R&D) to manufacturing and distribution.
Its key products:
- • Micronutrient Premixes: They are used as fortified supplements to add vitamins and other essential micronutrients to basic foods like flour, rice, and edible oils
- • Clinical Nutrition: Specialized nutritional supplements that contain nutrients that may be lacking in a normal diet.
- • Therapeutic Foods: Ready-to-Use Therapeutic Foods (RUTF) aimed at addressing acute malnutrition.
Facilities & Capacity
Hexagon Nutrition Ltd. maintains multiple production facilities to adhere to local as well as international market demands. The company has commenced an international production facility located in Uzbekistan to service the entire CIS market for better operational lead times.
They are also engaged in the setup of specialized R&D facilities wherein modern testing equipment and microbiological laboratories are made available to undertake sensory evaluation as well as the designing of innovative product formulations; presently approx 9 products are in the pipeline of development.
Brands & Market Presence
Hexagon Nutrition Ltd. is in operation under the name of Hexagon Nutrition and all of its subsidiaries. Hexagon Nutrition is a major player/ROI in major states and cities of India, like Maharashtra, Karnataka, Tamil Nadu, Gujarat, and West Bengal.
The wide footprint of Hexagon around the globe helped the firm cover high-growth potential markets such as those in Asia, as well as sub-Saharan African nations, especially Uzbekistan, South Africa, and Hong Kong, where the firm is a wholly owned subsidiary.
Revenue Streams & Business Model
The main source of revenue for Hexagon Nutrition Ltd. is the sale of nutraceuticals, micronutrient premixes, and clinical supplements.
The business model of Hexagon Nutrition Ltd. includes both the B2B segment, where it supplies premix to manufacturing companies of food products, and the B2G/NGO segment, where it supplies therapeutics to aid agencies for relief programs to support
Management & Shareholding
Hexagon Nutrition is led by its promoters Arun Purushottam Kelkar, Subhash Purushottam Kelkar, Vikram Arun Kelkar and Nikhil Arun Kelkar. Before the Hexagon Nutrition IPO, the promoters and promoter group held the entire equity share capital of the company. The current offer consists entirely of an Offer for Sale (OFS) by the promoters and certain members of the promoter group, which will lead to a dilution of their holding post-listing.
Board & Key Management
The board & key management of Hexagon Nutrition Ltd. is chaired by Arun Purushottam Kelkar. Vikram Arun Kelkar serves as the Managing Director, while Nikhil Arun Kelkar is the Joint Managing Director. They are supported by a professional management team, including Soman Nemai Jana as the CFO and Vedanti Swapnil Vartak as the CS and Compliance Officer.
WHAT IS GMP?
GMP (Grey Market Premium) is the difference between the IPO price and the grey market price. It is the premium amount paid for the traded IPO shares. It plays an important role in IPOs as it reflects how the IPO would react on the listing day.
A grey market is a place where shares/stocks are traded before being listed officially on the stock exchange.
Hexagon Nutrition IPO GMP
| GMP Date | IPO Price | GMP | Last Updated |
|---|---|---|---|
| - | - | - | - |
**The GMP prices displayed here are solely for informational purposes related to the grey market news. India IPO does not engage in or facilitate grey market trading, nor are these rates (sub2) indicative of any trading activity. We also do not recommend or endorse participation in the grey market.**
Hexagon Nutrition IPO Details
| Detail | Description |
|---|---|
| IPO Date | [.] |
| Listing Date | [.] |
| Face Value | ₹1 per Equity Share |
| Issue Price Band | [.] |
| Lot Size | [.] |
| Sale Type | Offer for Sale (OFS) only |
| Total Issue Size | Up to 30,859,704 Equity Shares |
| Offer for Sale | Up to 30,859,704 Equity Shares by the Selling Shareholders |
| Issue Type | 100% Book Built Offer |
| Listing At | BSE and NSE |
| Share Holding Pre Issue | 123,438,816 Equity Shares (calculated on a fully diluted basis) |
| Share Holding Post Issue | [.] |
Hexagon Nutrition IPO Timeline
| Detail | Description |
|---|---|
| IPO Open Date | [.] |
| IPO Close Date | [.] |
| Tentative Allotment | [.] |
| Initiation of Refunds | [.] |
| Credit of Shares to Demat | [.] |
| Tentative Listing Date | [.] |
| Cut-off time for UPI mandate confirmation | 5:00 PM on the Bid/Offer Closing Day |
Hexagon Nutrition IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Individual investors (Retail) (Min) | 1 | [.] | ₹14,000 - ₹15,000 |
| Individual investors (Retail) (Max) | 13-14 | [.] | Up to ₹2,00,000 |
| S-HNI (Min) | 14-15 | [.] | Over ₹2,00,000 |
| S-HNI (Max) | 66-70 | [.] | Up to ₹10,00,000 |
| B-HNI (Min) | 71+ | [.] | Over ₹10,00,000 |
Hexagon Nutrition IPO Promoter Holding
| Share Holding Pre Issue | Share Holding Post Issue |
|---|---|
| Promoter Holding Pre Issue | 67.09% |
| Promoter Holding Post Issue | [.] |
Competitive Strength:
- • Wider reach across micronutrient fortification, clinical nutrition, and therapeutic foods.
- • Strong internal competence in ingredient interaction as well as sensory evaluation.
- • International regional hubs in Uzbekistan and South Africa that offer less expensive logistics with quicker turnarounds to international markets.
Hexagon Nutrition IPO Financial Information
| Period Ended | Assets | Total Income | Profit After Tax | Net Worth | Reserves and Surplus | Total Borrowing | ||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 31 Mar 2025 (FY25) | 302.26 | 331.29 | 24.38 | 232.84 | 220.50 | 26.60 | ||||||||||||||||||||||||||||||||||
| 31 Mar 2024 (FY24) | 249.72 | 304.62 | 12.21 | 169.37 | 157.03 | 36.89 | ||||||||||||||||||||||||||||||||||
| 31 Mar 2023 (FY23) | 233.91 | 281.65 | 5.82 | 166.52 | 154.18 | 51.87 | ||||||||||||||||||||||||||||||||||
| Amount in ₹ Crore | ||||||||||||||||||||||||||||||||||||||||
Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 12.46% |
| ROCE | 18.05% |
| Debt/Equity | 0.14x |
| PAT Margin | 7.50% |
| EBITDA Margin | 12.33% |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 1.75 | [.] |
| P/E (x) | [.] | [.] |
IPO Objectives
The Hexagon Nutrition IPO consists solely of an Offer for Sale (OFS) by the selling shareholders. The main objectives are
- • Provide an exit or partial liquidity to the existing shareholders.
- • Enhancing the company's brand image and providing a public market for the shares in India.
Conclusion
Hexagon Nutrition Ltd. has been in business longer than most of its competitors, offering customized nutrition solutions. The Hexagon Nutrition IPO’s main aim is to refine its capital structure by increasing its corporate standing via being a publicly listed company. The offer is an exit for all existing shareholders. Meanwhile, the company’s focus is on increasing its product development and innovation as well as growing market share in both domestic and international high-growth export regions.
IPO DRHP Status
| # | Description | Date | File |
|---|---|---|---|
| 1 | Filed with SEBI/Exchange | 23-09-2025 | - |
| 2 | SEBI/Exchange approval received | - | - |
Read more :
Frequently Asked Questions (FAQs)
-
What is the OFS size of the Hexagon Nutrition IPO?
The IPO consists of an offer for sale (OFS) of up to 30,859,704 equity shares by the promoting shareholders.
-
Who are the BRLMs for the Hexagon Nutrition IPO?
The Book Running Lead Managers (BRLMs) for this IPO are Cumulative Capital Private Ltd. and Catalyst Capital Partners Private Ltd.
-
Are there international regional hubs for manufacturing in Hexagon Nutrition Ltd.?
The firm also operates a manufacturing plant in Uzbekistan, a regional office in South Africa, and a regional office in Hong Kong.
-
What is the face value of shares in the Hexagon Nutrition IPO?
In this IPO offer, the face value of an equity share is defined as ₹1.
-
Who is the Registrar of the Hexagon Nutrition IPO?
KFin Technologies Ltd. is appointed as the Registrar for the offer of the Hexagon Nutrition IPO.
