Hexagon Nutrition IPO Fully Subscribed on First Day with Strong Demand from Retail and Non-Institutional Investors

Hexagon Nutrition's Rs 139-Crore IPO Fully Subscribed on First Day

Hexagon Nutrition's initial public offering (IPO) received a strong response from investors on its first day of share sale on Friday. According to data available from the National Stock Exchange (NSE), the Rs 139-crore IPO saw bids for over 3-crore shares against the 2.16-crore shares on offer, translating to a subscription of 1.4 times.

The quota for non-institutional investors (NIIs) was booked 1.63 times, while the retail portion of the IPO fetched a subscription of 2.08 times. This is a significant show of confidence in the company's prospects. Earlier, Hexagon Nutrition had raised Rs 41.66 crore from anchor investors ahead of its IPO.

The IPO is scheduled to remain open for public subscription from June 5 to June 9, with the company fixing a price band of Rs 42-45 per equity share for the issue. Hexagon Nutrition aims to enhance its visibility, strengthen its brand recognition, and provide liquidity to existing shareholders through the proposed listing.

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

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

Here is a breakdown of the subscription figures:

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The allotment of Hexagon Nutrition's IPO is expected to be finalised on June 10, while the share listing is proposed on June 12.