Hexagon Nutrition IPO to go live on 5th June; how to apply – Markets

Hexagon Nutrition IPO: Know Hexagon Nutrition?

Founded in 1993, Hexagon Nutrition Limited is one of India’s established nutrition companies with over three decades of operating history. The company develops and manufactures products across three core verticals: micronutrient premix products, clinical nutrition, and therapeutic foods, serving both domestic and international markets.

Hexagon operates three manufacturing facilities in India (at Nasik, Chennai, and Thoothukudi) and one international facility in Tashkent, Uzbekistan, giving it a diversified production footprint. Its product portfolio spans consumer wellness, B2B formulations, and social impact food initiatives.

With a presence in over 75 countries across Asia, Africa, Europe, and South America, and 342 distributors in India alone, the company has built substantial distribution reach over its 30-year history.

Hexagon Nutrition IPO: Business Segments

Branded Clinical Nutrition (B2C): Wellness and clinical products sold directly to consumers via pharmacies, hospitals, and online platforms.

Premix Formulations (B2B2C): Micronutrient premix products supplied to institutional buyers and food manufacturers.

Ready-to-Use Foods (ESG): RUFs and Micronutrient Powders (MNPs) for humanitarian and government nutrition programs.

Anchor Investor Bidding: June 4, 2026 IPO Opens for Subscription: June 5, 2026 IPO Closes: June 9, 2026 (5:00 PM) Basis of Allotment: June 10, 2026 Refunds Initiated: June 11, 2026 Credit to Demat Account: June 11, 2026 Listing on BSE & NSE: June 12, 2026

Issue Composition & Investor Quotas

The IPO is a book-built issue totaling approximately Rs 138.87 crores, consisting of a fresh issue component of Rs 27.29 crores and an offer for sale of up to 3,08,59,704 equity shares.

QIB Quota: 50 per cent Retail Quota: 35 per cent HNI / NII Quota: 15 per cent Fresh Issue Size: Rs 27.29 crores

How much do you need to invest?

Retail investors can apply with a minimum bid of 333 shares worth Rs 14,985 at the upper price band of Rs 45 per share. The maximum retail application is capped at 13 lots comprising 4,329 shares amounting to Rs 194,805. For Small HNI investors, the minimum application starts at 14 lots or 4,662 shares worth Rs 2,09,790, while the maximum application can go up to 66 lots or 21,978 shares amounting to Rs 9,89,010. Big HNI investors can apply from a minimum of 67 lots, which equals 22,311 shares and requires an investment of Rs 10,03,995.

Revenue & Profitability Trends

Hexagon has delivered consistent growth over the last three fiscal years, with revenue climbing from Rs 281.65 crores in FY23 to Rs 331.29 crores in FY25. Profitability has shown a particularly strong recovery, with net profit nearly doubling between FY24 and FY25. The nine-month period ending December 2025 shows continued momentum, with PAT already surpassing the full FY25 figure.

The company also delivered consistent financial growth over the last three fiscal years, with revenue rising from Rs 281.65 crore in FY2023 to Rs 331.29 crore in FY2025. Profitability has also improved during the same period, with net profit increasing from Rs 5.82 crore in FY2023 to Rs 12.21 crore in FY2024 before doubling again to Rs 24.38 crore in FY2025. This reflects nearly 4 times growth in profit within just two years, highlighting strong operational efficiency and improving margins.

Expenses also increased gradually from Rs 267.02 crore in FY2023 to Rs 296.78 crore in FY2025, in line with business expansion, while the company maintained healthy earnings momentum. Total assets stood at Rs 288.90 crore in FY2023, adjusted to Rs 250.54 crore in FY2024, and improved to Rs 261.36 crore in FY2025.

For the first nine months of FY2026 ending December 2025, the company has already reported revenue of Rs 275.57 crore and a net profit of Rs 27.03 crore, surpassing the entire FY2025 profit figure. Expenses during the period stood at Rs 239.83 crore, while total assets expanded sharply to Rs 327.60 crore. The strong FY2026 performance indicates accelerating earnings growth, improving business scale, and continued financial strength.

Key Financial Metrics — FY2025

ROE: 10.47 per cent ROCE: 17.06 per cent EBITDA Margin: 12.33 per cent PAT Margin: 7.36 per cent Debt/Equity: 0.14× Return on Net Worth: 12.46 per cent Basic EPS: Rs 1.75 NAV Per Share: Rs 15.91

The company carries a low debt-to-equity ratio of 0.14, indicating a conservatively leveraged balance sheet relative to its asset base.

While there are no direct listed peers in the clinical nutrition/premix segment, the following large-cap FMCG/wellness companies provide a broad reference for sector benchmarking:

Peer data as of FY2025–26. Hexagon operates at a far smaller scale but in a more specialised niche.

The company is promoted by the Kelkar family, who have driven the business since its founding in 1993: Arun Purushottam Kelkar Subhash Purushottam Kelkar Vikram Arun Kelkar Nikhil Arun Kelkar

Investors can apply through any of the following routes:

ASBA via Net Banking: Log into your bank’s net banking portal and navigate to the IPO/ASBA section. Funds are blocked but not debited until allotment.

Offline ASBA Form: Download the IPO application form, fill it out, and submit at your designated bank branch or broker’s office before the close date.

Hexagon Nutrition has not paid any dividends during the periods covered in the offer documents. The company intends to adopt a prudent dividend policy going forward, subject to its financial performance, future capital requirements, and growth prospects.

Suggested Approach: Based on the financials, this IPO is positioned as a long-term investment play. Investors comfortable with the nutrition sector and patient with a 2–3 year holding horizon may consider applying.