Hexagon Nutrition Summary
Hexagon Nutrition is a research-based firm specializing in the field of nutrition and nutraceuticals (it is not an ESDM company). The firm is involved in the development and production of micronutrient premixes, branded wellness and clinical nutrition, formulations for therapeutic applications, and ready-to-use food products. These products fall under three categories: (1) branded wellness and clinical nutrition (B2C), (2) formulations for micronutrients (B2B2C), and (3) RUFs/MNPs, as part of its ESG projects. The firm operates on a B2B2C and B2C basis with an omnichannel distribution network across India and beyond that reaches out to more than 75+ countries across Asia, Africa, Europe, and South America.
In terms of operations, Hexagon Nutrition manufactures nutritional products maintaining high-quality standards and has three manufacturing plants based in India (Nasik, Chennai, and Thoothukudi), along with another one based overseas in Tashkent, Uzbekistan. Two manufacturing units located in SEZs (Chennai and Thoothukudi) offer the facility of free import and proximity to ports. The company runs two in-house R&D centers located at Nasik and Chennai with 11 R&D personnel in total, having 482 employees as on July 31, 2025. The source of revenue is contract/straight selling and sales of its products within all nutrition segments, with more than 342 distributors located in India, including 8 multi-state distributors.
Hexagon Nutrition Ltd will launch a book-built Initial Public Offering (IPO) to be listed at BSE and NSE (mainboard BSE/NSE), not only a BSE SME. Face value is ₹1 per Equity Share. Price Band of the company is ₹42.00 - ₹45.00 per equity share. The issue size is ₹138.87 Cr and it is Offer for Sale of ₹138.87 Cr. (No Fresh Issue Component mentioned). Reservation of the issue will be as follows: QIB≤50%, Retail≥35%, NII≥15% of Net Offer Size. IPO Timeline is as follows: Open Date – 5th June 2026; Close Date – 9th June 2026; Allotment (Approximate) 10th June 2026; Refund/Demat Credit Date – 11th June 2026 and listing (approximate) 12th June 2026 at BSE and NSE. The Lot Size of the issue is 333 shares, retail minimum investment ₹14,985 (upper band).
Hexagon Nutrition IPO Details:
Hexagon Nutrition Limited Issue Management:
Cumulative Capital Pvt.Ltd. acts as the book-running lead manager for Hexagon Nutrition BSE NSE Mainboard IPO, managing underwriting and compliance.
Hexagon Nutrition Limited IPO RTA (Registrar) Details:
Kfin Technologies Ltd. handles allotment, refunds, and demat credits - contact at 04067162222, 04079611000 or hexagon.ipo@kfintech.com.
Hexagon Nutrition Limited IPO Allotment Status:
To check your IPO allotment status:
Visit the Kfin Technologies Ltd. IPO Application Status page.
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Select and enter PAN, Application Number, DP/Client ID, or Account Number/IFSC.
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Hexagon Nutrition SME IPO totals ₹70.03 Cr, comprising a fresh issue of ₹66.51 Cr and ₹3.52 Cr reserved for the market maker. The face value is ₹10 per share and the price band is ₹141.00–₹149.00 per share (book‑built issue on BSE SME).
Hexagon Nutrition Limited IPO has no fresh issue component as stated in DRHP; the issue is an OFS.
Hexagon Nutrition IPO offers 30,86,000 equity shares (total OFS ₹138.87 Cr).
The anchor bidding for Hexagon Nutrition Ltd. IPO is scheduled for June 4, 2026, one working day before the issue opens on June 5, 2026, and anchor investors will be allotted shares from the QIB portion (within the overall QIB tranche, as per IPO structure). As per the IPO reservation details, the QIB portion (including anchor) accounts for not more than 50.00% of the net offer, with the remainder allocated to Retail (not less than 35.00%) and NII (not less than 15.00%).
Lock-in: The anchor allocation follows standard IPO norms, where 50% of the anchor shares are locked in for 30 days and the remaining 50% for 90 days from the listing date. The issue is scheduled to list on June 12, 2026 on BSE and NSE (not BSE SME).
The anchor allocation details and investor list will be disclosed in the anchor book before the IPO opening. Cumulative Capital Pvt. Ltd. is the Book Running Lead Manager (BRLM) to the issue, and the registrar for the IPO is KFin Technologies Ltd.
The profitability of Hexagon Nutrition Ltd comes from their concentration in research-based nutrition products within the areas of micronutrient premixes, branded wellness, clinical nutrition, therapeutic formulations, and ready-to-use foods catering to the FMCG and nutrition segments. This is made possible through the development of custom premix formulations offered to B2B customers along with their branded nutrition products (such as Pentasure, Obesigo, Pediagold, and Nutrone) via pan-India omnichannel marketing strategy that includes retail pharmacies, hospitals, and e-commerce websites, along with export to 75+ countries.
Coming to financial performance, there has been significant growth in the company where the revenue from operations increased from ₹297.73 crore in FY24 to ₹324.93 crore in FY25, while the PAT more than doubled from ₹12.21 crore in FY24 to ₹24.38 crore in FY25. The company's EBITDA increased from ₹24.88 crore in FY24 to ₹40.07 crore in FY25, along with the improvement in EBITDA and PAT margins to 12.33% and 7.50%, respectively. ROE and ROCE were 12.56% and 10.47%, respectively, during FY25, along with an increase in net worth to ₹194.18 crore in FY25 from ₹175.87 crore.
Action Links:
To apply for Hexagon Nutrition Limited IPO, open a demat account here
Hexagon Nutrition Limited IPO Subscription Status: Check live subscription here
Hexagon Nutrition Limited IPO GMP Update: Check latest grey market premium here
Hexagon Nutrition Key Highlights:
Hexagon Nutrition Limited is a research-based, pure play nutrition company which focuses on micronutrient premixes, therapeutic nutrition, clinical nutrition, ready to use therapeutic foods (RUTF) and vitamin & mineral formulations. The company functions in three segments namely, branded nutrition (B2C), premix formulations (B2B2C) and ESG products such as micronutrient powder. It works with FMCG companies, hospitals, and government nutritional programmes where their products are sold into 75+ countries.
Some of the key strengths of the company include 20+ years' experience in nutrition, manufacturing facilities at Nashik, Chennai, Thoothukudi certified with FSSAI, ISO 22000:2018, FSSC 22000, GMP and HACCP, distribution across India through omnichannel (retail pharmacies, hospitals, and e-commerce), extensive range of clinical nutrition products such as Pentasure, Obesigo, Pediagold and Nutrone, strong B2B partnerships.
From a financial standpoint, Hexagon Nutrition has shown a positive trend in terms of growth, where the income generated from its operations grew from ₹297.73 crore in FY24 to ₹324.93 crore in FY25, whereas the profit after tax (PAT) increased by nearly double from ₹12.21 crore to ₹24.38 crore. The earnings before interest, depreciation, and taxes (EBITDA) have also grown from ₹24.88 crore in FY24 to ₹40.07 crore in FY25. The EBITDA margin is 12.33%, while the PAT margin is 7.50%. ROE and ROCE are 12.56% and 10.47% respectively, while net worth increased from ₹175.87 crore in FY24 to ₹194.18 crore in FY25.
Hexagon Nutrition Risk Factors:
The risks of Hexagon Nutrition Limited IPO are mentioned below:
High exposure to the nutrition and premix as well as malnutrition markets that might be affected by reduced demand for FMCG products or by government nutritional programs.
Working capital risk owing to the requirement of raw material inventory such as vitamins, minerals, and carrier along with the accounts receivable from business-to-business customers.
Risk arising from regulations and compliances with respect to food safety, FSSAI regulations, and quality certifications that may adversely affect operations in case of non-compliance.
Liquidity risk from Mainboard listing (if done) or reduced liquidity post-listing with more volatility owing to a small market capitalization.
Risk from customer concentration along with dependence on foreign raw materials that are prone to forex risk and logistics problems.
Hexagon Nutrition Expert Analysis:
Hexagon Nutrition's IPO is a book-built issue with a price band of ₹42–₹45 per share (face value ₹1). The total issue size is approximately ₹70 crore, structured as an offer-for-sale by promoters. The IPO is open to QIB, NII, and retail investors, with anchor bidding on June 4, 2026; issue opens June 5, 2026; closes June 9, 2026; allotment on June 10, 2026; and listing on June 12, 2026 on BSE NSE Mainboard.
Basic details of the IPO:
Type of IPO: Book-built Offer-for-Sale (BSE NSE Mainboard)
Uses of funds: Entirely an offer-for-sale by promoters; no fresh capital raising for the company.
Anchor bidding: June 4, 2026 | Opens: June 5, 2026 | Closes: June 9, 2026 | Allotment: June 10, 2026 | Listing: June 12, 2026 (BSE NSE Mainboard)
Lead Manager: Cumulative Capital Pvt.Ltd. | Registrar: Kfin Technologies Ltd.
Expert View on the IPO:
Hexagon Nutrition is a niche player in the area of nutrition / premix aimed at tackling malnutrition in India, with positive profitability trends, excellent top-line growth, and healthy profit margins. The IPO is fairly valued at 14-15 times P/E post-offering, with a P/B ratio of 1.5 to 1.8 times. On the upside, it provides superior growth prospects, while on the downside, it poses nutritional demand risks, working capital intensity, and regulatory issues.
Should you invest in Hexagon Nutrition?
An investor seeking exposure to India's growing nutrition/premix sector addressing malnutrition, with improving margins and a strong brand portfolio, might find this IPO interesting if they can handle sector-specific risks and listing volatility.
Consider investing when:
You require access to the nutrition premix industry focused on B2C clinical nutrition and B2B FMCG fortification for improved profitability and growth.
You can accept the high working capital requirements, the risk of importing raw materials, and compliance in the food/nutrition industry.
You believe in the capability of the promoter to manage customers, increase capacity, and implement the business plan based on nutrition.
Do not invest when:
You are a large-cap investor looking for diversified revenue sources in FMCG or nutrition firms with strong market presence.
You are uncomfortable with risk in a listed company, food safety regulatory risk, or importing raw materials.
You have any concerns about working capital intensity or execution risk in the manufacturing process.
Investors are advised to exercise discretion and refer to the full DRHP/RHP document before reaching any investment decision. This analysis is for informative purposes and not investment advice.
Action Links:
To apply for Hexagon Nutrition Limited IPO, open a demat account here
Hexagon Nutrition Limited IPO Subscription Status: Check live subscription here
Hexagon Nutrition Limited IPO GMP Update: Check latest grey market premium here
1. What is the Hexagon Nutrition Limited IPO open and close date?
Hexagon Nutrition IPO opens on 5th June 2026 and closes on 9th June 2026. The tentative listing date on BSE and NSE is 12th June 2026.
Track Hexagon Nutrition Limited IPO subscription status live here from Finnpick.
2. What is the Hexagon Nutrition Limited IPO price band and lot size?
The IPO is a mainboard book-built issue with a price band of ₹42–₹45 per share (face value ₹1). The minimum lot size is 333 shares, with a minimum investment of ₹14,985, and subsequent bids in multiples of 333 shares.
3. What is Hexagon Nutrition Limited IPO total size?
The total issue size is ₹138.87 crore, consisting entirely of an offer-for-sale (OFS) by promoters (no fresh issue). The IPO comprises up to 3.09 crore equity shares sold by selling shareholders.
4. How to apply for the Hexagon Nutrition Limited IPO?
Open a demat here (Zerodha/Upstox/AngelOne) or apply ASBA by June 09, 4 PM. Monitor Hexagon Nutrition Limited IPO subscription tracker here. Ensure your demat account is active and UPI mandate is approved before the closing time.
5. How to check Hexagon Nutrition Limited IPO Allotment Status?
The allotment date is on June 10th and can be checked on Kfin Technologies Ltd. RTA portal using PAN/DP ID.
6. What is Hexagon Nutrition Limited IPO GMP today and subscription status?
Current Grey Market Premium (GMP) stands at ₹0 as of May 26, indicating listing at the price range of ₹45 - check daily updates of Hexagon Nutrition Limited IPO GMP trends here and live subscription status here from June 05th opening only on Finnpick.
7. What does Hexagon Nutrition Limited specialize in?
Hexagon Nutrition is a research-driven pure-play nutrition company specializing in micronutrient premixes, therapeutic nutrition, clinical nutrition, ready-to-use therapeutic foods (RUTF), and custom vitamin/mineral formulations. It operates across three segments—branded wellness & clinical nutrition (B2C), premix formulations (B2B2C), and ESG products—and serves FMCG companies, hospitals, and government nutrition programs with products exported to 75+ countries.
8. When is the Hexagon Nutrition Limited IPO listing date?
The IPO is scheduled to list on BSE and NSE on 12th June 2026, with NSE as the designated stock exchange. Basis of allotment is on 10th June 2026, with refunds and demat credits on 11th June 2026.
9. What are the Hexagon Nutrition Limited IPO proceeds utilization details?
The IPO is 100% offer-for-sale by promoters; no fresh capital will be raised for the company. Proceeds will go entirely to selling shareholders: Arun Kelkar (15 lakh shares), Subhash Kelkar (2.41 crore shares), Nutan Kelkar (36 lakh shares), and Aditya Kelkar (21 lakh shares).
10. Who are the promoters of Hexagon Nutrition Limited?
The promoters are Arun Purushottam Kelkar and Subhash Purushottam Kelkar. Promoter group members include Nutan Subhash Kelkar and Aditya Kelkar. Pre-IPO promoter holding is approximately 85%, which will dilute to 75.5% post-IPO.
11. Should I apply for the Hexagon Nutrition IPO?
You may consider applying if you are comfortable with a nutrition/premix-focused business addressing malnutrition in India, with strong profitability growth (PAT doubled from ₹12.21 Cr in FY24 to ₹24.38 Cr in FY25), revenue growth (₹297.73 Cr in FY24 to ₹324.93 Cr in FY25), and exposure to the growing nutrition sector. ROE is 10.47%–12.46% and ROCE is 17.06%–18.05%. Avoid if you are risk-averse to food safety regulatory risks, working capital intensity, raw material import exposure, or supply chain disruptions. This FAQ is for informational purposes only and not investment advice; read the RHP/DRHP and consult a SEBI-registered advisor before investing.
