Hexagon Nutrition To Be First Mainboard IPO In June; Subscription Opens June 5

Mumbai-based Hexagon Nutrition, a research-oriented pure-play nutrition company, will be the first mainboard initial public offering (IPO) to launch in June, ending a quiet period of nearly one month in the segment.

The public subscription window opens 5 June and closes 9 June, with the anchor book opening a day earlier on 4 June. Share allotment is expected to be finalised by 10 June, with the stock set to begin trading on the exchanges from 12 June.

The price band has been fixed at ₹42 to ₹45 per share. At the upper price band, the IPO will raise up to ₹138.87 crore, valuing the company at ₹553.1 crore.

Issue Structure And Other IPO Details

The Hexagon Nutrition IPO is entirely an offer for sale of up to 3.08 crore equity shares by promoter and promoter group shareholders, including Arun Purushottam Kelkar, Subhash Purushottam Kelkar, Aditya Kelkar, and Nutan Subhash Kelkar. There is no fresh issue component, which means the entire proceeds, net of offer expenses, will go to the selling shareholders and not to the company.

Retail investors can bid for a minimum lot of 333 shares, requiring an investment of around ₹14,985 at the upper price band. Cumulative Capital and Catalyst Capital Partners have been appointed as merchant bankers for the issue.

Hexagon Nutrition refiled its IPO preliminary papers with the Securities and Exchange Board of India (SEBI) in September 2025, which were subsequently approved by the regulator in February 2026.

What The Company Does

Hexagon Nutrition offers products across three segments: micronutrient premix, branded wellness and clinical nutrition, and ready-to-use foods and micronutrient powder. The company claims to be one of the largest premix players in India, supplying customised vitamin and mineral premixes to leading Indian and multinational FMCG companies.

The company has three manufacturing facilities in India located at Nashik, Chennai and Thoothukudi in Tamil Nadu, and one international facility in Uzbekistan.

Also Read - RBI's $5 Billion Dollar-Rupee Swap Attracts Nearly Double Bids At $9.8 Billion

Financial Performance

The company reported revenue of ₹267.5 crore and profit of ₹27 crore for the nine month period ended December 2025. Profit was almost double at ₹24.4 crore in FY25 compared to ₹12.2 crore in the previous year, while revenue increased 9.1% to ₹324.9 crore from ₹297.7 crore in FY24.

The IPO comes amid increasing investor interest in India’s nutrition, health and wellness segment, driven by growing demand for preventive healthcare, dietary supplements and functional nutrition products.

Sources:

Moneycontrol

BusinessWorld