The Hexagon Nutrition IPO has demonstrated exceptional market demand, achieving 42.23x subscription by day 3 of the bidding process. According to latest NSE data, the retail portion is subscribed 22.53x, while the non-institutional investor (NII) portion has been booked 129.96x. The qualified institutional buyers (QIBs) portion has received 10.90x bids, reflecting relatively muted interest from institutional investors. The IPO, which opened on June 5, 2026 and closes on June 9, 2026, is valued at ₹138.87 crore at the upper end of the price band. As per NSE data till 3:06 p.m., the IPO received bids for 29.77 crore shares against 2.16 crore shares on offer.
Hexagon Nutrition has successfully raised ₹41.66 crore from anchor investors ahead of its proposed initial public offering, allotting 92.57 lakh equity shares at ₹45 apiece. According to the anchor allocation details filed with stock exchanges, the company allotted the shares to a clutch of institutional investors, with Bandhan Small Cap Fund emerging as the largest investor in the anchor book. The anchor book witnessed participation from a diverse set of institutional investors, reflecting strong institutional interest in the nutrition segment company.
Bandhan Small Cap Fund received 26.66 lakh shares, representing 28.82 per cent of the anchor investor portion, translating into an investment of about ₹12 crore. Other key participants included Ampersand Growth Opportunities Fund Scheme-I, which received shares worth around ₹10 crore, and CP Capital Ltd, which was allotted shares worth about ₹9.65 crore. Visionary Value Fund and Innovative Vision Fund were allotted shares worth nearly ₹5 crore each. The IPO price band has been fixed at ₹42-45 per share, with the offering comprising more than 30.9 million equity shares offered by promoters through an offer-for-sale structure.
The Hexagon Nutrition IPO is currently trading at a grey market premium (GMP) of ₹6.5, indicating strong listing prospects. Based on the upper end of the IPO price band and current grey-market premium, the estimated listing price is ₹51.5 per share, representing a 14.44% premium over the IPO price of ₹45. The GMP has shown an upward trend over the last 15 sessions, with experts noting that the lowest GMP recorded is ₹0.00, while the highest GMP reached ₹12. The company's shares are proposed to be listed on stock exchanges on June 12, 2026. With the public issue closing for subscription today, the basis of allotment is expected to be finalised on Wednesday, June 10, while shares are likely to be credited to successful applicants' demat accounts on Thursday, June 11.
Established in 1993, Hexagon Nutrition started as a micronutrient formulations company and has evolved into a diversified nutrition-focused business. The company operates across 75 countries and offers a broad range of products including micronutrient premixes, therapeutic and clinical nutrition solutions, fortified foods, and wellness products. Its product portfolio includes popular brands such as Pentasure, Obesigo, and Pediagold, serving the health, wellness, and clinical nutrition segments. The company has demonstrated strong financial performance with EBITDA margins expanding from 6.2% in FY23 to 14% in the first nine months of FY26, while profit after tax has nearly quadrupled over the past two years. The proposed listing is aimed at enhancing visibility, strengthening brand recognition and providing liquidity to existing shareholders.
