Hexagon Nutrition Ltd
Complete IPO details, including price band, financials, subscription status, and key insights.
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IPO Snapshot
Key metrics and details at a glance.
Price Band
₹45
Per ShareLot Size
333 Shares
Minimum Investment
₹14,985
Issue Size
₹138.87 Cr
Face Value
₹1
Per ShareIPO Type
Book Building
Retail Quota
35%
QIB Quota
50%
NII Quota
15%
IPO Timeline
Important dates for your applying strategy.
Subscription Status
Live demand across investor categories.
Track real-time subscription levels:
*Real-time data subject to exchange updates
Hexagon Nutrition Ltd
Business model, operations, and market positioning.
Promoter Holding (Pre-Issue)
89.41%
Promoter Holding (Post-Issue)
64.3%
Issue Type
Book Building
ISIN
INE0JUI01012
About the Company
We are a differentiated and research-oriented pure play nutrition Company. We are holistic nutrition player that offers products across a whole range starting with micronutrient premixes, right up to therapeutic and clinical products (Source: CARE Report). We are also one of the largest premix players in India, offering customised vitamin and mineral premixes to leading Indian and multinational FMCG companies. It is also one of the largest licensed suppliers of Micronutrient Powders (MNPs) under UN programmes, supporting global food fortification and public health initiatives (Source: CARE Report). Our product portfolio addresses a broad spectrum of nutritional aspects such as fortification of foods, therapeutic nutrition, clinical nutrition and alleviation of malnutrition. We are a fully integrated company engaged across the entire value chain, right from research and product development to manufacturing and marketing, with a focus on quality.
Company History
Our Company was originally incorporated as `Hexagon Chemoils Private Limited' a private limited company incorporated under the Companies Act, 1956 pursuant to Certificate of Incorporation dated May 27, 1993, issued by Registrar of Companies, Maharashtra. The name of our Company was changed from `Hexagon Chemoils Private Limited' to `Hexagon Nutrition Private Limited' pursuant to a resolution passed by our board dated December 10, 2005 and a Special Resolution passed by our Shareholders dated December 30, 2005 and a fresh Certificate of Incorporation dated January 10, 2006 issued by Assistant Registrar of Companies, Maharashtra at Mumbai. Subsequently, our Company was converted into public limited company, pursuant to a resolution passed by our board dated October 5, 2021 and special resolution passed by our shareholders dated October 14, 2021 the name of our company was changed from `Hexagon Nutrition Private Limited' to `Hexagon Nutrition Limited' and a fresh certificate of incorporation dated November 15, 2021 was issued by the Registrar of Companies, Mumbai.
Products & Services
- Branded Nutrition Products / Clinical Nutrition Products
- Premix Formulations
- Ready to use foods and micro nutrient powder
Growth Strategy
- Growth through entry into new categories of products.
- Strengthen our domestic footprint and broaden our customer base across India.
- Further enhance emphasis on branded nutrition product segment.
- Capitalising on growing nutritional awareness and requirements post Covid-19.
- International expansion by creating geographical footprints.
- Launch products in new therapy areas/ new delivery systems.
Customer Base
Coca Cola India Private Limited, Kaira Dist Co-op Milk Producer Union ("Amul"), Dabur India Limited, Marico Limited, Veeba Food Services Private Limited, Zywie Ventures Private Limited ("Oziva"), United Biscuits Private Limited, Dodla Dairy Limited, Dukes Consumer Care Limited, LT Foods Limited, Gemini Edibles & Fats India Limited, Govind Milk & Milk Products Private Limited, and global customers like GAIN, Nutriset SAS and DPO International Sdn Bhd. amongst others.
Financial Performance
Revenue, profit after tax and total assets across the last 3 reported financial years.
Revenue
Amount in ₹ crore
Profit After Tax (PAT)
Amount in ₹ crore
Total Assets
Amount in ₹ crore
Figures in ₹ crore, on a consolidated basis, as reported for FY23 to FY25.
Objects of the Issue
How the company plans to utilize IPO proceeds.
Use of Proceeds
The funds raised through this IPO will be used for:
Initial public offering of up to 30,859,704 equity shares of face value of Re. 1/- each ("Equity Shares") of Hexagon Nutrition Limited (the "Company" or the "Issuer") for cash at a price of Re. 45 per equity share including a share premium of Rs. 44 per equity share (the "Offer Price") aggregating up to Rs. 138.87 Crores through an offer for sale (the "Offer" or "Offer For Sale"), comprising up to 1,536,477 equity shares of face value of Re. 1/- each aggregating up to Rs. 6.91 Crores by Arun Purushottam Kelkar, up to 24,188,993 equity shares of face value of Re. 1/- each aggregating up to Rs. 108.85 Crores by Subhash Purushottam Kelkar, up to 3,608,142 equity shares of face value of Re.1/- each aggregating up to Rs. 16.24 Crores by Nutan Subhash Kelkar and up to 1,526,092 equity shares of face value of Re. 1/- each aggregating up to Rs. 6.87 Crores by Aditya Kelkar (collectively the "selling shareholders"). The offer will constitute 25.11% of the post-offer paid up equity share capital of the company. Price Band: Rs. 45 per equity share bearing face value of Rs. 1 each. The floor price is 45 times of the face value of the equity shares. Bids can be made for a minimum of 333 equity shares of face value of Rs. 1 each and in multiples of 333 equity shares of face value of Rs. 1 each thereafter.
*Subject to approvals and market conditions.
Strengths & Risks
Key competitive advantages and factors to consider before investing.
- A fully integrated holistic nutrition company offering end-to-end solutions across the value chain and a market leader in customized micronutrient formulations.
- Recognized wellness and clinical nutrition brand in the market.
- Long Standing Relationships with our customers.
- Established R&D capabilities with focus on innovation.
- Manufacturing capabilities of products with quality and food safety procedures.
- The company is significantly dependent on the premix formulation segment for a substantial portion of its revenues. During the nine month period ended December 31, 2025, Fiscal 2025, Fiscal 2024, and Fiscal 2023, revenue from the premix formulations segment amounted to Rs. 1,377.26 million, Rs. 1,546.95 million, Rs. 1,333.13 million, and Rs. 1,527.99 million, respectively, contributing 51.47%, 47.61%, 44.78%, and 54.86% of the company revenue from operations for the respective Fiscals. Any adverse development affecting this segment may has a material adverse effect on its business, financial condition, and results of operations.
- The company is dependent on a limited number of customers for a significant portion of its revenue. During the nine month period ended December 31, 2025, Fiscal 2025, Fiscal 2024, and Fiscal 2023, revenue from its top 10 customers aggregated to Rs. 1,118.97 million, Rs. 1,490.49 million, Rs. 1,453.69 million, and Rs. 1,271.29 million, constituting approximately 41.82%, 45.87%, 48.83%, and 45.65% of the company revenue from operations, respectively. Loss of one or more such customers or a reduction in their order volumes may adversely affect its business, financial condition, and results of operations.
- Reconstruction of a portion of the company Nashik Facility pursuant to past regulatory actions may lead to temporary production disruptions, operational inefficiencies, and potential revenue impact.
- Sale of expired, defective, or non-compliant products, or failures to meet applicable quality standards, could expose the company to significant liability, damage its reputation, and adversely affect the company business, results of operations, and financial condition.
- The company does not has long-term contracts with its raw material suppliers, and volatility in raw material prices or adverse sourcing conditions may adversely impact the company operations, profitability, and financial performance.