The initial public offering (IPO) of nutrition company Hexagon Nutrition Ltd. witnessed strong investor interest on its opening day, June 5. The issue was fully subscribed within hours of launch. Overall, the IPO was subscribed 1.65 times, receiving bids for 3,55,71,060 shares against the 2,16,02,008 shares on offer. The Qualified Institutional Buyers segment is yet to receive any bids. The public issue was subscribed 2.42 times in the retail category and 2.03 times in the Non Institutional Investors category.
As of 10:36 AM on June 8, the IPO has been booked 2.47 times with investors bidding for 5,33,86,893 shares against the 2,16,02,008 shares on offer.
As the issue remains open for subscription till June 9, market participants will closely watch the subscription trends and the grey market premium (GMP) to assess overall sentiment.
Hexagon Nutrition IPO GMP:
The GMP for the Hexagon Nutrition IPO remains positive. On the second day of subscription on Friday, the IPO GMP stood at Rs 6.5 on June 8, according to the InvestorGain website. Based on the upper price band cap of Rs 45 per share, the estimated listing price is around Rs 51.5 (issue price plus GMP). This suggests a potential listing gain of 14.44% for investors.
Note: GMP does not represent official data and is based on speculation.
Hexagon Nutrition IPO Details:
The Hexagon Nutrition IPO is a book build issue worth Rs 138.87 crores. It is entirely an offer-for-sale (OFS) of 3.09 crore shares. Its price band is set at Rs 42 to Rs 45 per share. The allotment for the Hexagon Nutrition IPO is expected to be finalised on June 10. The tentative listing date has been set as June 12 on NSE and BSE.
To participate, retail investors need to apply for at least a single lot size of 333 shares, which amounts to Rs 14,985 based on the upper price. Cumulative Capital Pvt. Ltd. is the book running lead manager and Kfin Technologies Ltd. is the registrar of the issue.
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Hexagon Nutrition Business And Use of Proceeds:
Founded in 1993, Hexagon Nutrition Ltd. is a research-driven nutrition company focused on micronutrient premixes, clinical nutrition, and wellness products.
The company's total income in fiscal ended March 2025 increased to Rs 331.29 crore from Rs 304.62 crore in FY24. Profit after tax nearly doubled to Rs 24.38 crore from Rs 12.21 crore. Ebitda also rose significantly to Rs 40.07 crore compared with Rs 24.88 crore a year earlier.
The IPO proceeds will be utilised toward various issue-related expenses, including fees and commissions, regulatory and listing fees, advertising and marketing, among other things.
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Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read the red herring prospectus thoroughly before placing bids.
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