Hexagon Nutrition Files DRHP with SEBI for IPO

Specialised nutrition company Hexagon Nutrition Ltd. has taken its first step toward a stock market debut by filing a Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI). 

The IPO will be exclusively an offer for sale (OFS), with promoters and their group entities divesting a portion of their holdings. The equity shares are proposed to be listed on both the NSE and BSE.

IPO Details

The issue will comprise 3.08 crore equity shares under the OFS route. Promoters Arun Purushottam Kelkar and Subhash Purushottam Kelkar will sell 15 lakh shares and 2.41 crore shares, respectively. Promoter group members Nutan Subhash Kelkar and Aditya Kelkar will offload 36 lakh and 21 lakh shares each.

Cumulative Capital Pvt Ltd and Catalyst Capital Partners Pvt Ltd will act as the book-running lead managers for the issue, while Kfin Technologies Ltd. has been appointed as the registrar.

Company Profile

Hexagon Nutrition is a research-driven, pure-play nutrition company with a diversified portfolio spanning micronutrient premixes, therapeutic and clinical nutrition, and products addressing malnutrition. 

According to a CARE report, the company is one of India’s leading premix providers, supplying customised vitamin and mineral formulations to major domestic and global FMCG companies.

Financial Performance

The company reported revenue from operations of ₹324.9 crore in FY 2025, up 9.1% from ₹297.7 crore in FY 2024. Profit for FY 2025 doubled to ₹24.3 crore compared to ₹12.2 crore in the previous year, reflecting improved margins and business growth.

Read More: Groww Secures SEBI Nod for IPO: Plans to Raise Up to $1 Billion!

Conclusion

Hexagon Nutrition’s planned IPO, entirely via an OFS, will allow promoters to pare their holdings while giving investors an opportunity to participate in one of India’s established nutrition and premix players. Strong revenue growth and improving profitability further strengthen the company’s case as it prepares to enter the public markets.

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