Hexagon Nutrition Limited - Day 1: 1.65x Subscribed & GMP Rs 13
Key takeaways:
- The IPO is a 100% OFS issue of Rs 138.87 crore, and its subscription window is open between June 5, 2026, and June 9, 2026.
- It is priced in the price range of Rs 42 to Rs 45 per equity share.
- At the end of Day 1, the overall subscription was 1.65 times.
- The grey market price on Day 1 was around Rs 13, which suggests a tentative listing price of Rs 58.
- Cumulative Capital Private Limited and Catalyst Capital Partners Private Limited are the book-running lead managers, and KFin Technologies Limited is the registrar of the issue.
Hexagon Nutrition Limited today launched its much-awaited Initial Public Offering (IPO). It is a significant milestone for the Indian nutrition and wellness industry, and the IPO has garnered significant interest from healthcare-focused investors and retail players.
Before the subscription window opened to the public, Hexagon Nutrition had managed to raise Rs 41.66 crores from anchor investors, like Bandhan Small Cap Fund, Ampersand Growth Opportunities Fund Scheme-I, CP Capital Limited, and Visionary Value Fund, at the upper price band of Rs 45.
The overall IPO subscription started on a steady note with a 1.65 times subscription on Day 1, with the grey market premium (GMP) at Rs 13. Now, let's discuss Day 1 of the Hexagon Nutrition IPO in detail.
Hexagon Nutrition Limited IPO key dates
Hexagon Nutrition's IPO is open for subscription from June 5, 2026 (Today) to June 9, 2026. The IPO allotment is likely to be completed on June 10, 2026. The refunds and shares will be credited to the demat accounts from June 11 2026. The listing of the shares will tentatively take place on June 12, 2026, on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).
The IPO is priced in the price range of Rs 42 to Rs 45 per share with a minimum application lot size of 333 shares, which requires a minimum investment of Rs 14,985 at the upper price band of Rs 45 for retail investors. The book running lead managers for this IPO offering are Cumulative Capital Private Limited and Catalyst Capital Partners Private Limited, while KFin Technologies Limited is the registrar of the issue.
About Hexagon Nutrition Limited
Hexagon Nutrition was established in 1993 and has since become a leading research-driven nutrition company. The company operates in the structurally growing health and wellness sector and specialises in micronutrient premixes, therapeutic formulations, ready-to-use foods, brand wellness and clinical nutrition products.
Hexagon Nutrition has a strong global presence and exports to more than 75 countries in Asia, Africa, Europe, and South America.
The company has three manufacturing facilities in India at Nasik, Chennai, and Thoothukudi, and an overseas manufacturing facility in Tashkent, Uzbekistan, which provides it with a robust supply chain, enabling it to even customise its offerings.
Financially, there was a significant improvement in the business of Hexagon Nutrition in the past years, with its total income increasing to Rs 331.29 crore and a PAT (Profit After Tax) of Rs 24.38 crore in FY25, nearly doubling its profit from Rs 12.21 crore in FY24.
Subscription and GMP status on Day 1
The Hexagon Nutrition IPO received a measured and steady response on the first day, with investors considering the company's 100% OFS structure and its dominant market positioning. The issue had achieved 1.65 times the total subscription at the end of Day 1.
Retail Individual Investors (RIIs) subscribed 2.43 times, indicating early retail interest. While the Non-Institutional Investors (NIIs) subscribed 2.03 times. As usual, the Qualified Institutional Buyers (QIBs) were quiet on Day 1, with 0.00 times subscription.
Hexagon Nutrition's Grey Market Premium (GMP) was at Rs 13 at the upper band of Rs 45. This indicates a tentative listing price of Rs 58 with a potential listing gain of around 28.89%.
Investor sentiments at the end of Day 1
The Hexagon Nutrition IPO has a cautiously optimistic investor sentiment. The key strength of the company that is drawing the attention of investors is its leadership in the premix nutrition segment, steady increase in profits, and global export presence.
However, its IPO 100% OFS structure with no new capital being injected into the growth of the company, and its dependence on the premix formulation business as the primary source of its revenue is raising some eyebrows among some investors. Thus, investors are closely monitoring its subscription levels until the subscription period ends on June 9, 2026.
