About Hexagon Nutrition IPO
Hexagon Nutrition IPO Overview
Hexagon Nutrition IPO is a 100% book-built issue of 3.08 crore shares worth up to ₹139 crore, entirely a fresh issue of shares, with the face value of ₹1 per share. The company filed its DRHP with SEBI on September 23, 2025.
The price band of the issue is set at ₹42 to ₹45 per share and the lot size for an application is 333 shares. The minimum amount of investment required by an individual investor is ₹14,985 (333 shares). The IPO will open for subscription from June 5 to 9, 2026, on the BSE and the NSE platforms, with a tentative listing date fixed as June 12, 2026. The Book Running Lead Managers (BRLMs) of the issue are Cumulative Capital Private Ltd. and Catalyst Capital Partners Private Ltd., while the registrar to the offer is KFin Technologies Ltd.
Hexagon Nutrition IPO Date & Timeline
The Hexagon Nutrition IPO is officially set to open for subscription on Jun 5, 2026 and will close on Jun 9, 2026. The company initially filed its Draft Red Herring Prospectus (DRHP) on September 23, 2025 and has now finalised its schedule following SEBI approval. Once the subscription window allotment is expected on Jun 10, 2026. Following this, the company will initiate refunds and credit shares to successful investors' demat accounts on Jun 11, 2026. Finally, Hexagon Nutrition Ltd.'s shares are tentatively scheduled to list on the stock exchanges on Jun 12, 2026.
Hexagon Nutrition IPO Timeline
| IPO Open Date | Fri, Jun 5, 2026 |
| IPO Close Date | Tue, Jun 9, 2026 |
| Tentative Allotment | Wed, Jun 10, 2026 |
| Initiation of Refunds | Thu, Jun 11, 2026 |
| Credit of Shares to Demat | Thu, Jun 11, 2026 |
| Tentative Listing Date | Fri, Jun 12, 2026 |
| Cut-off time for UPI mandate confirmation | - |
Hexagon Nutrition IPO Details
| Detail | Description |
|---|---|
| IPO Date | 5 to 9 Jun, 2026 |
| Listing Date | 12 Jun, 2026 |
| Face Value | ₹ 1 per Equity Share |
| Issue Price Band | ₹ 42 to ₹ 45 |
| Lot Size | ₹ 333 per share |
| Sale Type | Offer for Sale (OFS) only |
| Total Issue Size | 3,08,59,704 shares (agg. up to ₹ 139 Cr) |
| Offer for Sale | 3,08,59,704 shares of ₹1 (agg. up to ₹ 139 Cr) |
| Issue Type | 100 % Book Built Offer |
| Listing At | BSE and NSE |
| Share Holding Pre Issue | 12,29,18,109 shares |
| Share Holding Post Issue | 12,29,18,109 shares |
Hexagon Nutrition IPO GMP (Grey Market Premium)
“Grey Market Premium” or GMP is defined as the rate at which the IPO's shares are traded in the market before they are officially listed on the stock exchange.
The Hexagon Nutrition IPO GMP is currently trading at ₹2.75, reflecting the sentiment of unofficial investors before the official listing. This premium suggests a potential listing price of ₹47.75, which is 6.11% above the issue price. While the Grey Market Premium is a key indicator of demand and investor appetite, it is important to remember that GMP is highly volatile and should not be the sole factor in your investment decisions.
Hexagon Nutrition GMP TREND (DAILY UPDATES)
| GMP Date | IPO Price | GMP | Last Updated |
|---|---|---|---|
| 13 Jun 2026 | ₹45 | ₹2.75 | 13 Jun, 202609:57 AM |
| 12 Jun 2026 | ₹45 | ₹2.75 | 12 Jun, 202611:31 AM |
| 11 Jun 2026 | ₹45 | ₹2.75 | 11 Jun, 202609:56 AM |
| 10 Jun 2026 | ₹45 | ₹3.5 | 10 Jun, 202609:51 AM |
| 9 Jun 2026 | ₹45 | ₹2.5 | 9 Jun, 202604:05 PM |
| 8 Jun 2026 | ₹45 | ₹6.5 | 8 Jun, 202604:02 PM |
| 7 Jun 2026 | ₹45 | ₹6.5 | 8 Jun, 202610:19 AM |
| 6 Jun 2026 | ₹45 | ₹6.5 | 6 Jun, 202603:34 PM |
| 5 Jun 2026 | ₹45 | ₹12 | 5 Jun, 202609:55 AM |
| 4 Jun 2026 | ₹45 | ₹10 | 4 Jun, 202609:42 AM |
| 3 Jun 2026 | ₹45 | ₹0 | 3 Jun, 202609:54 AM |
| 2 Jun 2026 | ₹45 | ₹0 | 2 Jun, 202609:46 AM |
| 1 Jun 2026 | ₹45 | ₹0 | 1 Jun, 202610:17 AM |
| 31 May 2026 | ₹45 | ₹0 | 1 Jun, 202610:17 AM |
| 30 May 2026 | ₹45 | ₹0 | 30 May, 202610:03 AM |
| 29 May 2026 | ₹45 | ₹0 | 29 May, 202611:37 AM |
| 28 May 2026 | ₹45 | ₹0 | 28 May, 202609:48 AM |
| 27 May 2026 | ₹45 | ₹0 | 27 May, 202609:41 AM |
| 26 May, 2026 | ₹45 | ₹0 | 26 May, 202601:06 PM |
Company Background
Hexagon Nutrition Ltd. was incorporated in 1993 as a private limited company in Mumbai, Maharashtra. Over 3 decades (i.e., over 30 years), the organisation was transformed from a private to a public firm and to its current name in November 2021.
The company is mainly engaged in the research-oriented pure-play, which offers a range of products starting with micronutrient-based mixes and has created a remarkable image in the market for research-oriented work in the field of nutrition. The main objective of the company is to fill nutritional gaps through its diverse range of offerings for human as well as animal health segments.
Operations & Product Range
Hexagon Nutitions 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 specialised 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 brand 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 the company around the globe helped in the coverage of 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. For FY25, the company has reported a total income of ₹331.2 crore and the EBITDA of ₹40 crore, which is 12.33%.
The business model of the company 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.
Hexagon Nutrition IPO Financial Information
Latest Revenue
267.58
₹ Crore
Profit After Tax
27.03
₹ Crore
Net Worth
223.05
₹ Crore
Total Borrowing
39.79
₹ Crore
| Period Ended | Assets | Revenue From Operations | Profit After Tax | Net Worth | Reserves & Surplus | Total Borrowing | |||
|---|---|---|---|---|---|---|---|---|---|
| 31 Dec 2025 | 327.6 | 267.58 | 27.03 | 223.05 | 209.88 | 39.79 | |||
| 31 Mar 2025 | 261.36 | 324.92 | 24.38 | 195.6 | 183.12 | 26.6 | |||
| 31 Mar 2024 | 250.54 | 297.73 | 12.21 | 176.29 | 164.81 | 36.89 | |||
| 31 Mar 2023 | 288.9 | 278.5 | 5.82 | 163.84 | 152.02 | 51.87 | |||
| Amount in ₹ Crore | |||||||||
Hexagon Nutrition Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 13.02 % |
| ROCE | 14.82 % |
| Debt/Equity | 0.18 |
| RoNW | 12.12 % |
| PAT Margin | 9.81 % |
| EBITDA Margin | 14.03 % |
| Price to Book Value | 2.48 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 1.98 | 2.93 |
| P/E (x) | 22.69 | 15.35 |
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.
Greaves Electric Mobility IPO Review
Greaves Electric Mobility Ltd. is a differentiated, research-oriented pure-play nutrition firm. Operating in the market for over the past 30 years across the entire value chain from product development to manufacturing to marketing. With a specialisation in the manufacturing of micronutrient powders (MNPs) supplied under UN programs and public health initiatives.
Financially, the company has shown strong and healthy financial statements. As for the financial year 2025, the revenue from operations was reported at ₹324.9 crore and the profit for the year was at ₹24.37 crore. Notably, the top 10 customers of the company have contributed ₹149.04 crore, which is 45.87% of the revenue from operations for the same period.
However, the investors need to be aware of the potential risk that the entity operates in a highly regulated sector subject to stringent food safety approvals (like FSSAI) and intense competition from domestic and multinational FMCG giants. Overall, the IPO presents a solid opportunity for investors looking for exposure to the fast-growing nutrition and wellness space.
Conclusion
Hexagon Nutrition Ltd. has been in business longer than most of its competitors, offering customised nutrition solutions. With this listing, the company’s main aim is to refine its capital structure by increasing its corporate standing, as 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 export high-growth regions.
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Competitive Strengths
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.
Download regulatory filings
IPO Lot Size
| Investors | No.of lots | Shares Offered | Max Bid Amount |
|---|---|---|---|
| Individual investors (Retail) (Min) | 1 | 333 | 14985 |
| Individual investors (Retail) (Max) | 13 | 4329 | 194805 |
| S-HNI (Min) | 14 | 4662 | 209790 |
| S-HNI (Max) | 66 | 21978 | 989010 |
| B-HNI (Min) | 67 | 22311 | 1003995 |