Hexagon Nutrition Limited, a Mumbai-based company with over three decades of experience in the nutrition industry, is gearing up for its debut on the Indian stock exchanges. The company will launch its Initial Public Offering (IPO) on June 5, 2026, which will remain open until June 9, 2026. The shares are scheduled to list on June 12, 2026 on BSE and NSE.
This is a pure Offer for Sale (OFS) issue worth around ₹138.87 crore, with no fresh capital being raised by the company. Existing promoters and shareholders will sell their stakes to the public.
Key IPO Details
| Particulars | Details |
|---|---|
| IPO Open Date | June 5, 2026 |
| IPO Close Date | June 9, 2026 |
| Allotment Date | June 10, 2026 |
| Listing Date | June 12, 2026 |
| Price Band | ₹42 – ₹45 per share |
| Issue Size | ₹138.87 crore (100% OFS) |
| Lot Size | 333 shares |
| Minimum Investment | ₹14,985 |
| Face Value | ₹1 per share |
The entire offer consists of 3.08 crore equity shares being sold by promoters including the Kelkar family.
Company Background
Established in 1993, Hexagon Nutrition specializes in micronutrient premixes, clinical nutrition products, and therapeutic foods. The company focuses heavily on research and development to create solutions that address malnutrition and support overall wellness.
It manufactures high-quality fortified nutrition products and has a strong export presence across more than 70 countries. Its client base includes governments, NGOs, food manufacturers, and direct consumers through its branded portfolio. The company operates modern manufacturing facilities and emphasizes science-backed formulations for food fortification.
Financial Snapshot
Hexagon Nutrition has delivered consistent growth in recent years:
- Revenue (FY25): ₹325 crore (approx.)
- Revenue (FY24): ₹298 crore
- Profit After Tax (FY25): ₹24.4 crore (nearly doubled from ₹12.2 crore in FY24)
- EBITDA margins have improved significantly, touching around 12.3% in FY25.
The company has maintained moderate debt levels and benefits from rising demand for nutritional supplements and fortified foods, both in India and globally.
Strengths of the Business
- Long operational history and deep domain expertise in nutrition science.
- Diversified revenue streams through exports and a mix of B2B and B2C products.
- Strong focus on R&D and product innovation.
- Favorable industry trends, including increasing health consciousness, government-led fortification programs, and growth in the nutraceutical sector.
Potential Risks
- No Fresh Capital: Since it is a complete OFS, the company will not receive any funds for expansion or working capital.
- Valuation: At the upper end of ₹45, the post-issue market cap would be around ₹550 crore. Investors need to assess whether the current pricing offers reasonable value given the growth trajectory.
- Market Competition: The space has several established domestic and multinational players.
- Grey Market Sentiment: As of early June 2026, the grey market premium (GMP) has shown moderate interest but remains cautious.
Should You Subscribe?
Hexagon Nutrition operates in a high-potential sector with strong long-term fundamentals. The company’s improving profitability and global reach are positive signals. However, being a pure OFS and operating in a competitive industry, the IPO may appeal more to investors with a medium-to-long-term horizon rather than those seeking quick listing gains.
Recommendation: Conduct your own due diligence. This IPO could suit investors interested in the health and wellness theme, but apply cautiously considering the valuation and overall market conditions.