Hexagon Nutrition IPO: Rs 139-crore IPO Fully Subscribed on Day 1

New Delhi, June 5: The initial public offering of Hexagon Nutrition Ltd was fully subscribed on the first day of bidding on Friday.

The Rs 139-crore IPO received bids for 3,55,71,060 shares against 2,16,02,008 shares on offer, leading to an overall subscription of 1.65 times, according to data available with the NSE.

The category for retail investors was booked 2.42 times, while the quota for non-institutional investors got subscribed 2.03 times. However, the qualified institutional buyers’ segment did not receive any bids on the first day.

Hexagon Nutrition Ltd on Thursday raised Rs 41.66 crore from anchor investors.

The IPO will close on June 9. The company has fixed a price band of Rs 42-45 per equity share for the issue.

The public issue is entirely an offer-for-sale (OFS) of over 3.08 crore equity shares by promoters. At the upper end of the price band, the issue size is pegged at Rs 138.87 crore.

Hexagon Nutrition said the proposed listing is aimed at enhancing its visibility, strengthening brand recognition and providing liquidity to existing shareholders.

Founded in 1993, the company started as a micronutrient formulations business and later diversified into branded nutrition products. Its portfolio includes brands such as Pentasure, Obesigo and Pediagold across health, wellness and clinical nutrition segments.

Hexagon Nutrition has a presence across 75 countries and offers products including micronutrient premixes, therapeutic nutrition, clinical nutrition, wellness products and fortified foods.

Shares of the company are expected to be listed on the stock exchanges on June 12.