Summary of this article
Hexagon Nutrition's shares listed at premiums of 7.22 per cent on NSE and 6.67 per cent on BSE
The Rs 138.87 crore IPO was subscribed 53.68 times, led by non-institutional investors
Retail investors allotted one lot earned up to Rs 999 on listing day
Hexagon Nutrition IPO Listing: Hexagon Nutrition made a positive stock market debut on June 12, with its shares listing at a premium to the issue price of Rs 45 apiece.
On the NSE, the stock opened at Rs 48.25, a gain of Rs 3.25 or 7.22 per cent over the issue price. On the BSE, it listed at Rs 48, up Rs 3 or 6.67 per cent.
Ahead of listing, the grey market premium (GMP) for Hexagon Nutrition stood at Rs 2.75 per share, implying an estimated listing price of around Rs 47.75 and an expected gain of 6.11 per cent over the initial public offering (IPO) price. The actual debut broadly matched those expectations.
Hexagon Nutrition is a research-driven nutrition company engaged in developing and manufacturing micronutrient premixes, branded wellness and clinical nutrition products, therapeutic formulations, ready-to-use foods and micronutrient powders. The company operates manufacturing facilities in India and Uzbekistan and exports its products to more than 75 countries.
The company has a diversified product portfolio spanning branded wellness and clinical nutrition products, premix formulations and ESG-focused nutrition products. It also has a pan-India distribution network supported by more than 358 distributors.
Hexagon Nutrition IPO: Key Details
The Rs 138.87 crore IPO was entirely an offer for sale (OFS) of 30.86 million equity shares. Since the issue did not include a fresh issue component, the company will not receive any proceeds from the public offering.
The IPO opened for subscription on June 5 and closed on June 9. The basis of allotment was finalised on June 10. The issue was priced at the upper end of the price band at Rs 45 per share against a price band of Rs 42-45 per share.
Investors could bid for a minimum of 333 shares, requiring an investment of Rs 14,985 at the upper price band.
The IPO was managed by Cumulative Capital Pvt. Ltd., while KFin Technologies served as the registrar.
As the issue was entirely an OFS, the primary objective was to provide an exit and monetisation opportunity to existing shareholders.
Hexagon Nutrition IPO Subscription Status
Hexagon Nutrition IPO received a strong response from investors and was subscribed 53.68 times overall.
The non-institutional investor (NII) category led the demand, subscribing its quota 161.49 times. The retail investor portion was subscribed 26.85 times, while the qualified institutional buyer (QIB) category was subscribed 19.77 times.
Out of the total issue size, 1,54,29,851 shares were reserved for QIBs, 46,28,956 shares for NIIs and 1,08,00,897 shares for retail investors.
Ahead of the IPO, the company raised Rs 41.66 crore from anchor investors on June 4 through the allocation of 92,57,696 shares at Rs 45 per share. The anchor portion accounted for 30 per cent of the total issue size.
Hexagon Nutrition Financial Performance
Hexagon Nutrition reported steady growth in profitability over the last three fiscals. Total income rose to Rs 331.29 crore in FY25 from Rs 281.65 crore in FY23.
Profit after tax increased to Rs 24.38 crore in FY25 from Rs 5.82 crore in FY23.
The company also reported improving operating performance, with EBITDA rising to Rs 40.07 crore in FY25 from Rs 17.17 crore in FY23.
Total borrowings stood at Rs 39.79 crore as of Dec. 31, 2025, compared with Rs 26.60 crore at the end of FY25.
Hexagon Nutrition: Key Risks Investors Should Know
According to the company's prospectus, Hexagon Nutrition operates in the highly competitive nutrition and wellness industry, where changing consumer preferences and increasing competition could affect growth.
The company also depends on the availability and pricing of key raw materials used in nutritional products. Any disruption in supply or increase in input costs could impact margins.
A significant portion of its revenue is generated from international markets. Any adverse changes in export demand, regulatory requirements or foreign exchange rates could affect financial performance.
How Much Did Retail Investors Make On Listing
Retail investors who received an allotment in the Hexagon Nutrition IPO saw modest listing gains on debut. At the issue price of Rs 45 per share and a lot size of 333 shares, one lot required an investment of Rs 14,985.
Based on the NSE opening price of Rs 48.25, investors made a gain of Rs 3.25 per share, translating into a profit of Rs 1,082.25 per lot, or a return of 7.22 per cent. On the BSE, where the stock debuted at Rs 48, the gain stood at Rs 3 per share, resulting in a profit of Rs 999 per lot and a return of 6.67 per cent.
An investor allotted five lots would have invested Rs 74,925. At the NSE listing price, the profit would have been Rs 5,411.25, while the BSE debut price would have translated into gains of Rs 4,995. Similarly, an investor allotted 10 lots would have invested Rs 1,49,850 and earned Rs 10,822.50 based on the NSE opening price or Rs 9,990 based on the BSE opening price.
