Hexagon Nutrition's IPO: Unwrapping the Nutritional Giant's Market Debut

Hexagon Nutrition, a distinguished pure-play nutrition firm, has determined a price range of Rs 42-45 per equity share for its Rs 139-crore initial public offering (IPO), set to commence on June 5. According to the red herring prospectus filed Monday, the public issue will close on June 9, and anchor investor bidding will kick off on June 4.

This IPO, representing solely an offer-for-sale of over 3.08 crore equity shares by promoters, means Hexagon Nutrition will not benefit directly from the proceeds, as they will be directed to the selling shareholders. Priced at the upper margin, the IPO is valued at Rs 138.87 crore.

Established in 1993, the Mumbai-based company started with micro-nutrient formulations and later diversified into branded nutrition products like Pentasure, Obesigo, and Pediagold. Reporting a total income of Rs 331.28 crore and profits of Rs 24.38 crore for FY25, Hexagon Nutrition aims for enhanced market visibility with its listing on BSE and NSE on June 12. Cumulative Capital Pvt Ltd and Catalyst Capital Partners are overseeing the IPO as lead managers.

(With inputs from agencies.)