Hexagon Nutrition IPO

Hexagon Nutrition IPO is a book-built public issue worth ₹138.87 crore, comprising a complete Offer for Sale (OFS) of 3.09 crore equity shares. Since the issue is entirely an OFS, the company will not receive any proceeds from the offering.

The IPO will be open for subscription from June 5, 2026, to June 9, 2026. The basis of allotment is likely to be finalised on June 10, 2026, while the shares are expected to be listed on the BSE and NSE on June 12, 2026.

The company has fixed the price band at ₹42–₹45 per share. Investors can apply for a minimum of 333 shares, requiring an investment of ₹14,985 at the upper end of the price band. For sNII investors, the minimum application size is 14 lots (4,662 shares) amounting to ₹2,09,790, while bNII investors need to apply for at least 67 lots (22,311 shares), requiring an investment of ₹10,03,995.

Cumulative Capital Private Limited is acting as the book-running lead manager to the issue, while Kfin Technologies Limited has been appointed as the registrar.

Hexagon Nutrition IPO Objectives 

The Hexagon Nutrition IPO is entirely an Offer for Sale (OFS) worth ₹138.87 crore, which means the company will not receive any proceeds from the issue. The funds raised will be received by the selling shareholders. The key objectives of the IPO include:

1. Providing an exit opportunity and liquidity to existing shareholders by enabling them to sell a portion of their holdings.
2. Listing the company's equity shares on the BSE and NSE, thereby creating a public market for the stock and facilitating price discovery.
3. Enhancing the company's visibility and market presence through a stock exchange listing, which can help strengthen its brand image and credibility among investors, customers, and business partners.
4. Expanding the shareholder base and improving overall market recognition as a publicly listed company.

About Hexagon Nutrition Limited

Established in 1993, Hexagon Nutrition Limited is a research-focused nutrition company engaged in the development, manufacturing, and marketing of a wide range of nutrition and wellness products. Its portfolio includes micronutrient premixes, clinical and wellness nutrition products, therapeutic formulations, and ready-to-use nutritional foods.

The company operates manufacturing facilities in Nashik (Maharashtra), Chennai (Tamil Nadu), and Thoothukudi (Tamil Nadu), along with an overseas production unit in Tashkent, Uzbekistan. The Chennai and Thoothukudi facilities are located in Special Economic Zones (SEZs), offering advantages such as proximity to ports and access to duty-free imports.

Hexagon Nutrition's business is divided into three key segments:

• Branded wellness and clinical nutrition products (B2C)
• Premix formulations (B2B2C)
• Ready-to-Use Foods (RUFs) and Micronutrient Powders (MNPs) under its ESG-focused initiatives 

The company has built a strong pan-India distribution network spanning retail pharmacies, hospitals, e-commerce platforms, online pharmacies, and its own brands such as Pentasure, Obesigo, Pediagold, and Nutrone. It serves the domestic market through more than 358 distributors, including several with multi-state operations.

To strengthen its global presence, Hexagon Nutrition has established overseas offices in South Africa, Uzbekistan, and Hong Kong. Between FY23 and FY25, the company exported its products to over 75 countries across Asia, Africa, Europe, and South America.

The company also places significant emphasis on innovation, supported by dedicated in-house research and development centres in Nashik and Chennai. As of March 31, 2026, Hexagon Nutrition had a workforce of 527 employees.

How To Apply for the Hexagon Nutrition IPO Online?

1. Login to Your Angel One Account: Open the Angel One app or website and log in with your credentials.
2. Locate the IPO Section: Navigate to the 'IPO' section on the platform.
3. Select IPO: Find and select the Hexagon Nutrition IPO from the list of open IPOs.
4. Enter the Lot Size: Specify the number of lots you want to bid for.
5. Submit Your UPI ID: Enter your UPI ID to link your payment method and submit your application.
6. Approve Funds: Once you receive the bid request on your UPI app, approve it by entering your UPI PIN.

How To Check the Allotment Status of Hexagon Nutrition IPO?

Steps to check IPO allotment status on Angel One’s app:

1. Log in to the Angel One app.
2. Go to the IPO Section and then to IPO Orders.
3. Select the individual IPO that you had applied for and check the allotment status.
4. Angel One will notify you of your IPO allotment status via push notification and email.

Contact Details of Hexagon Nutrition Limited

Registered office: Hexagon Nutrition Ltd. Address-404 Global Chamber

Adarsh Nagar Link Road, Andheri (W), Mumbai, Maharashtra, 400053

Phone:+91 22 6213 6710

E-mail:cs.hnpl@hexagonnutrition.com

Hexagon Nutrition IPO Reservation

Hexagon Nutrition IPO Lot Size Details

Hexagon Nutrition IPO Promoter Holding

The promoters of the company include Arun Purushottam Kelkar, Subhash Purushottam Kelkar, Vikram Arun Kelkar and Nikhil Arun Kelkar. 

Note: Equity dilution will be determined by subtracting the Shareholding Post Issue from the Shareholding Pre Issue.

Key Performance Indicators for Hexagon Nutrition IPO

Hexagon Nutrition IPO Registrar and Lead Managers

Hexagon Nutrition IPO Lead Managers

• Cumulative Capital Pvt.Ltd.
• Catalyst Capital Partners Pvt.Ltd.

Registrar for Hexagon Nutrition IPO

Kfin Technologies Ltd.

• Contact Number: 04067162222, 04079611000
• Email Address: hexagon.ipo@kfintech.com

Financial Performance of Hexagon Nutrition Limited

Hexagon Nutrition Limited Peer Comparison

Strengths and Opportunities of Hexagon Nutrition Limited

1. Hexagon Nutrition has secured certifications and approvals from leading international organisations, including GAIN, UNICEF, and the World Food Programme (WFP), enabling it to supply Ready-to-Use Therapeutic Foods (RUTF) and Micronutrient Powders (MNP) to global nutrition programmes.
2. The company operates dedicated in-house R&D centres that support product innovation, faster development cycles, and stringent quality standards.
3. Its offerings span clinical nutrition products, wellness brands, micronutrient premixes, therapeutic nutrition solutions, and ready-to-use foods, helping diversify revenue streams.
4. Hexagon serves multinational FMCG companies, healthcare institutions, government programmes, and consumers through a network of more than 350 distributors, pharmacies, hospitals, and digital channels.
5. The company maintains a relatively stable balance sheet, supported by improving profitability, healthy operating cash flows, and manageable debt levels.
6. Hexagon plans to increase the contribution of its commercial premix segment, catering to industries such as dairy, bakery, and beverages, over the coming years.
7. Growing awareness of nutrition and government-led fortification initiatives across emerging markets could drive demand for the company's products, particularly in Asia and Africa.
8. The company has significant scope to expand the reach of its consumer nutrition brands, such as Pentasure, Pediagold, and Nutrone, through stronger digital marketing efforts and partnerships with online pharmacy platforms.
9. With an established presence in more than 75 countries, Hexagon is well-positioned to capitalize on increasing global demand for nutritional and therapeutic food products.

Risks and Threats of Hexagon Nutrition Limited

1. A significant portion of the company's revenue is derived from a limited number of customers. Any reduction in orders or loss of key clients could adversely affect revenue and profitability.
2. The company does not have long-term procurement agreements with suppliers and relies on imported ingredients such as vitamins, minerals, whey proteins, and skimmed milk powder. Supply disruptions or sharp increases in raw material costs could impact margins.
3. Hexagon's growth strategy depends on the successful development and commercialization of new nutrition products. Delays in product launches or unsuccessful research outcomes may hinder future growth.
4. The presence of imitation and counterfeit products in the market could negatively affect brand reputation and consumer confidence.
5. The nutrition and wellness sector is highly competitive, with participation from both domestic and multinational players. Intense competition may lead to pricing pressure and increased marketing expenses, affecting profitability.
6. As the company imports raw materials and exports products to numerous international markets, fluctuations in currency exchange rates may impact earnings.
7. The business requires substantial investment in inventory and receivables, making efficient working capital management critical for maintaining liquidity.
8. Operating across multiple geographies subjects the company to diverse food safety, healthcare, and export regulations. Any changes in regulatory requirements, fortification policies, or tax structures could affect business operations.
9. Dependence on export markets and global health organizations exposes the company to geopolitical tensions, trade restrictions, and fluctuations in international demand.