Key facts
- Hexagon Nutrition's IPO was subscribed 53.68 times, indicating robust investor demand.
- The Rs 138.9 crore offering was entirely an offer for sale.
- The grey market premium (GMP) is around 6%, suggesting a listing price of approximately Rs 48.
- The company raised Rs 41.66 crore from anchor investors prior to the public issue.
- Hexagon Nutrition is scheduled to list on the NSE and BSE on June 12.
Hexagon Nutrition is poised for its stock market debut on Friday, with current market sentiment suggesting a modest listing gain. The company's Initial Public Offering (IPO), which was an offer for sale (OFS) of Rs 138.9 crore, garnered significant investor interest, achieving an overall subscription rate of 53.68 times.
The grey market premium (GMP) for Hexagon Nutrition shares stands at approximately 6%, indicating an expected listing price of around Rs 48, slightly above the issue price of Rs 45. This suggests a measured market entry rather than an explosive debut, despite the strong subscription figures.
The IPO saw particularly robust demand from non-institutional investors (NIIs), whose portion was subscribed 161.49 times. Retail investors subscribed 26.85 times, and qualified institutional buyers (QIBs) bid 19.77 times the shares allocated to them. Prior to the public offering, Hexagon Nutrition secured Rs 41.66 crore from anchor investors.
Founded in 1993, Hexagon Nutrition specializes in micronutrient premixes, clinical nutrition, and ready-to-use food products. The company operates manufacturing facilities in India and Uzbekistan and exports to over 75 countries. Its business spans branded wellness and clinical nutrition, premix formulations, and micronutrient powders for nutrition programs.
Financially, Hexagon Nutrition has demonstrated improved profitability. For the fiscal year 2025, total income was Rs 331.3 crore with a profit after tax of Rs 24.4 crore, a significant increase from Rs 12.2 crore in FY24. EBITDA also saw a substantial rise to Rs 40.1 crore from Rs 24.9 crore year-on-year.