Hexagon Nutrition Secures ₹41.6 Crore from Anchor Investors in Pre-IPO Placement

Hexagon Nutrition Raises ₹41.66 Crore from Anchor Investors Ahead of IPO

Hexagon Nutrition Limited has successfully allotted 92,57,696 equity shares to anchor investors at the anchor investor offer price of ₹45 per equity share, raising ₹41.66 crore ahead of its proposed initial public offering (IPO). The company has reserved the allotment for a diverse set of investors, including Bandhan Small Cap Fund, Ampersand Growth Opportunities Fund Scheme-I, CP Capital Limited, Visionary Value Fund, and Innovative Vision Fund.

The anchor book saw significant participation from Bandhan Small Cap Fund, which was the only domestic mutual fund participant in the anchor book. The fund was allotted shares worth approximately ₹12 crore, while Ampersand Growth Opportunities Fund Scheme-I received an allocation of approximately ₹10 crore. CP Capital Limited was allotted shares worth approximately ₹9.65 crore, and Visionary Value Fund and Innovative Vision Fund received allocations of approximately ₹5 crore each.

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No bids or applications were received from life insurance companies and pension funds in the anchor investor portion. The anchor allocation details were filed with the stock exchanges on June 4, 2026.

Hexagon Nutrition's IPO is set to open for subscription tomorrow, Friday, 5 June, and will close on Tuesday, 9 June. The company aims to raise ₹139 crore from the issue, with a price band of ₹42-45 per share. The IPO consists entirely of an offer for sale (OFS) of up to 30.86 million equity shares and does not include any fresh issue component.

The company has reserved 50% of the net issue for qualified institutional buyers (QIBs), 35% for retail investors, and 15% for non-institutional investors (NIIs). Existing shareholders Arun Purushottam Kelkar, Subhash Purushottam Kelkar, Aditya Kelkar, and Nutan Subhash Kelkar will dilute their holdings through the OFS.

Founded in 1993, Hexagon Nutrition is a research-focused nutrition company offering micronutrient premixes, therapeutic nutrition products, and clinical nutrition solutions. The company provides exposure to India's growing nutrition, wellness, and micronutrient market, although investors should carefully evaluate the risks highlighted in the Red Herring Prospectus (RHP).

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In terms of financials, for FY25, revenue from operations increased 9% year-on-year to ₹324.92 crore from ₹297.7 crore in FY24. Profit after tax (PAT) surged 99.5% to ₹24.3 crore from ₹12.2 crore a year earlier. Margin performance remained healthy at 12.33% in FY25, compared with 8.36% in FY24 and 6.17% in FY23.