Hexagon Nutrition to Debut on Public Markets on 5 June: Key Indicators from GMP Pre-IPO Analysis

Hexagon Nutrition's Initial Public Offering Set to Open on June 5

Hexagon Nutrition, a research-focused nutrition company established in 1993, is gearing up for its initial public offering (IPO) which is set to open for subscription on Friday, June 5. The ₹139-crore IPO will remain open till Wednesday, June 9.

The company offers a diverse portfolio that includes micronutrient premixes, therapeutic nutrition solutions, and clinical nutrition products. Ahead of the opening, the shares of Hexagon Nutrition IPO are currently trading at a ₹0 premium in the grey market, as per websites tracking the grey market.

Investor Overview

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The IPO consists entirely of an offer for sale (OFS) of up to 30.86 million equity shares, with no fresh issue component. Existing shareholders Arun Purushottam Kelkar, Subhash Purushottam Kelkar, Aditya Kelkar, and Nutan Subhash Kelkar will dilute part of their stakes through the OFS. The share allotment is expected to be finalised on June 10, while the stock is slated to list on the BSE and NSE on June 12.

Investors must apply for a minimum lot of 333 shares, translating into an investment of ₹14,985 at the upper end of the price band. Around 50% of the issue has been booked for Qualified Institutional Buyers (QIBs), while not less than 35% of the public issue is reserved for retail investors and over 15% is reserved for non-institutional investors (NIIs).

Key Details

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The primary objectives of the offer, as per the Red Herring Prospectus (RHP), are to secure the advantages associated with listing the company's equity shares on stock exchanges, to strengthen the company's brand recognition and expand its market presence, and to provide an exit and liquidity opportunity for existing shareholders.

Cumulative Capital is the book running lead manager and Kfin Technologies Ltd. is the registrar of the issue.