Hexagon Nutrition shares surged over 7% in their stock market debut on Friday, June 12, 2026, hitting upper circuit limits on both NSE and BSE after listing at a premium of around 7% over the IPO issue price. The stock debuted at ₹48.25 on the NSE, reflecting a premium of 7.22% and listed at ₹48.00 on BSE, showing a premium of 6.66% over the issue price of ₹45 per share. Following the listing, buying interest gathered momentum, pushing the stock to its upper circuit limits of ₹50.39 on the BSE. As per The Hindu BusinessLine, the company's market valuation stood at ₹619.38 crore at these levels. The strong debut performance reflects robust investor confidence in the nutrition company's growth prospects, with the stock touching a high of ₹50.66 apiece on NSE, registering a gain of 12.58% from its issue price. According to Livemint, the buying momentum intensified after the listing, with the stock rallying 5% from its listing price.
Hexagon Nutrition's positive market debut was supported by robust financial performance, with the company reporting strong growth across key metrics. The company reported a net profit of ₹27.03 crore in Q3FY26, demonstrating continued profitability momentum. According to The Financial Express, Hexagon Nutrition's revenue from operational activities stood at ₹275.57 crore in Q3FY26, showing consistent growth trajectory. The company has demonstrated significant profit growth, with profit after tax of ₹24.38 crore in FY25, higher than ₹12.21 crore posted in FY24 and ₹5.82 crore in FY23. Revenue from operations reached ₹331.29 crore in FY25, compared to ₹304.62 crore in FY24 and ₹281.65 crore in FY23. The company maintains a Return on Equity (RoE) of 10.47% for FY25 and debt-to-equity ratio of 2.83 for the same period, indicating healthy financial management. The company reported a consolidated net profit of ₹27.03 crore and sales of ₹267.59 crore for the nine months ended on December 31, 2025. According to ET Now, the company's operating profitability has improved significantly over the last three years, primarily attributed to the robust performance of its branded division, which has recorded annual growth of around 25-30% during the period.
The ₹139 crore IPO witnessed strong investor demand with overall subscription of 54 times during the bidding process. The non-institutional investor category saw the strongest response, garnering subscription of 161.49 times, while the retail investor portion was subscribed 26.85 times and the qualified institutional buyers (QIBs) quota was booked 19.77 times. The IPO consisted entirely of an offer-for-sale (OFS) of more than 3.08 crore equity shares by the company's promoters, with each lot comprising 333 shares priced in the ₹42-45 per equity share band. As a result, the company did not receive any proceeds from the issue. Ahead of the public issue, the company raised ₹41.66 crore from anchor investors, including Bandhan Small Cap Fund, CP Capital Ltd, Visionary Value Fund, Innovative Vision Fund and Ampersand Growth Opportunities Fund Scheme-I. The total issue size was valued at around 25.7 times its FY25 earnings and appears fairly valued according to market experts. According to Livemint, the IPO was open for subscription from June 5 to June 9, and the company raised ₹138.87 crore from the book-building issue.
Speaking after the listing, Managing Director Vikram Arun Kelkar expressed optimism about the company's growth prospects, stating the company intends to build on the momentum created over the last few years. According to ET Now, one of the key pillars of its strategy will be the growth of its branded nutrition portfolio, particularly products such as Pentasure, with the company believing increasing consumer preference for specialised nutrition products will help strengthen this segment further. The premix business is also expected to contribute meaningfully to growth, with the company noting that research, development and innovation remain central to its strategy, with several new product offerings expected to be introduced in the near future. As per ET Now, Hexagon Nutrition crossed the ₹100 crore mark in branded revenue during the previous financial year and sees further upside through premiumisation initiatives, which could support higher profitability. The premix segment also continues to enjoy a healthy order pipeline, providing visibility for future growth, with the company indicating it is not witnessing any slowdown in customer orders and existing clients continue to expand business engagements.
Exports currently account for nearly 56% of Hexagon Nutrition's total revenue, with the company maintaining a diversified sourcing strategy spanning India, China, Korea, Singapore and Europe to help avoid supply chain disruptions. According to ET Now, Hexagon Nutrition sees Europe and North America as key growth markets over the next few years, with the company planning to deepen its presence in these regions while maintaining a diversified global supply chain. The company has established a comprehensive distribution network including 358+ distributors across India and maintains overseas offices in South Africa, Uzbekistan and Hong Kong to support international business operations. The company also operates in-house R&D centers in Nasik and Chennai and employs over 500 people. According to Moneycontrol, the proposed listing is aimed at enhancing its visibility, strengthening brand recognition and providing liquidity to existing shareholders.
