Last updated on January 22nd, 2026 at 11:44 pm
Hexagon Nutrition Limited is a research-driven, fully integrated nutrition company engaged in product development, research & development, manufacturing and marketing of nutrition products, including clinical nutrition, micronutrient premixes and therapeutic nutrition solutions.
It has its market reach across India with an omnichannel distribution network and exports to more than 70 countries, positioning it as one of the largest premix players in India.
Hexagon Nutrition has filed DRHP to raise funds via IPO comprising entirely as an Offer for Sale (OFS) of 3.08 Crore equity shares.
Subscription date to apply for the IPO is yet to be announced. Price band for the IPO is also pending to be declared.
| Issue Size: | 30,859,704 Equity Shares |
| Fresh Issue: | ~₹ 0 Crore |
| Offer for Sale: | 30,859,704 Equity Shares |
| Price Range: | TBA |
| Lot Size: | TBA |
Hexagon Nutrition Limited important data points
Revenue, PAT, EBITDA
| Year | Fiscal 2025 |
| Networth | ₹ 195.6 Cr |
| Revenue: | ₹ 324.9 Cr |
| EBITDA | ₹ 40.1 Cr |
| PAT | ₹ 24.4 Cr |
| EBITDA Margin: | ~12.33% |
| PAT Margin | ~7.36% |
| Face Value: | Rs. 01 per Equity Share |
IPO important dates
| Open Date: | TBA |
| Close Date: | TBA |
| Anchor Investor Bidding | TBA |
| Allotment Date: | TBA |
| Refunds & Demat Credit | TBA |
| Tentative Listing Date: | TBA |
Use of Proceeds
| Purpose | Amount |
| Working Capital Requirement | ~ ₹ 0 Cr |
| Borrowing payment | ~ ₹ 0 Cr |
| General Corporate Purpose | ~ ₹ 0 Cr |
| Purchase of Laptops | ~ ₹ 0 Cr |
| OFS | 30,859,704 Equity Shares |
Hexagon Nutrition Ltd Financial Data
| 2023 | 2024 | 2025 | |
| Revenue (₹ Cr) | ₹ 278.5 | ₹ 297.7 | ₹ 324.9 |
| Gross Profit (₹ Cr) | ₹ 5.8 | ₹ 12.2 | ₹ 24.4 |
| Asset (₹ Cr) | ₹ 288.9 | ₹ 250.5 | ₹ 261.4 |
| Net Worth (₹ Cr) | ₹ 163.8 | ₹ 176.3 | ₹ 195.6 |
Hexagon Nutrition IPO Grey Market Premium
| Date | IPO Price | IPO GMP | Profit per lot |
| 25-Jan | ₹ – | ₹ – | ₹ – |
| 24-Jan | ₹ – | ₹ – | ₹ – |
| 23-Jan | ₹ – | ₹ – | ₹ – |
| 22-Jan | ₹ – | ₹ – | ₹ – |
| 21-Jan | ₹ – | ₹ – | ₹ – |
| 20-Jan | ₹ – | ₹ – | ₹ – |
Hexagon Nutrition Limited Promoters – Pre offer equity (Approx)
| Vikram Arun Kelkar | ~21.11% |
| Arun Purushottam Kelkar | ~19.81% |
| Subhash Purushottam Kelkar | ~19.68% |
| Nikhil Arun Kelkar | ~17.26% |
Hexagon Nutrition Limited IPO Pros & Cons
Strengths:
- Established, research-driven nutrition company with diversified product portfolio across clinical and therapeutic nutrition.
- Strong presence in high-growth segments such as clinical and fortified nutrition in India and overseas markets.
- Experienced promoter group with decades of domain expertise and long operating history.
- Integrated business model covering R&D, manufacturing and marketing enhances margins and entry barriers.
- Growing health and wellness awareness supports long-term demand for nutrition products.
Risks:
- Limited public information on consistent profitability and margin stability compared to listed peers.
- Dependence on regulatory approvals and compliance in nutrition and healthcare products.
- Competitive industry with pressure from multinational nutrition and FMCG players.
- Significant portion of the IPO being Offer for Sale limits fresh capital infusion into the business.
- Valuation risk if IPO pricing does not adequately factor in earnings visibility and growth execution.
Hexagon Nutrition Limited Lot Size details
| Application Type | Lot Size | No. of Lots | No. of Shares | Investment Amount |
| Retail(Min) | – | 1 | – | ₹ – |
| Retail (Max) | – | 13 | – | ₹ – |
| Small HNI (Min) | – | 14 | – | ₹ – |
| Small HNI (Max) | – | 66 | – | ₹ – |
| Big HNI (Min) | – | 67 | – | ₹ – |
Lead Managers / Registrars of Hexagon Nutrition Limited
| Lead / Book Running Lead Managers | Cumulative Capital Private Limited, Catalyst Capital Partners Private Limited |
| Registrar (RTA) | KFin Technologies Limited |
Founding Year of Hexagon Nutrition Limited & Managing Director
Hexagon Nutrition Limited was incorporated in the year 1993.
Mr. Vikram Arun Kelkar is the MD & CEO of the company.
Hexagon Nutrition Limited FAQ
- Q1. What is the business of Hexagon Nutrition Limited?
Last updated on January 22nd, 2026 at 11:44 pm
It is a research-driven, fully integrated nutrition company making micronutrient premixes, clinical and therapeutic nutrition products, and ready-to-use foods sold in India and exported to over 75 countries. - Q2. Why is the company raising funds via IPO?
Last updated on January 22nd, 2026 at 11:44 pm
Hexagon Nutrition is raising money via IPO structured entirely as an Offer for Sale to enable existing shareholders to monetise part of their holdings. - Q3. What is the size of the issue and where will it list?
Last updated on January 22nd, 2026 at 11:44 pm
The issue size is up to 30,859,704 equity shares. It will be listed on the BSE & NSE platform. - Q4. What are the risks to an investor?
Last updated on January 22nd, 2026 at 11:44 pm
Risks to invest in the IPO include heavy reliance on the premix segment, concentrated customer relationships, and supply chain vulnerabilities from non-long-term supplier contracts. - Q5. What are the potential upsides?
Last updated on January 22nd, 2026 at 11:44 pm
Upsides of the IPO include strong R&D focus, diversified nutrition product portfolio with global reach, established distribution network, and rising health and nutrition demand. - Q6. How to apply for the IPO?
Last updated on January 22nd, 2026 at 11:44 pm
You can apply through ASBA via your bank’s net banking/UPI or through your broker’s IPO application interface during the subscription window (once dates are announced). - Q 7. When is the tentative listing date?
Last updated on January 22nd, 2026 at 11:44 pm
Expected listing date is yet to be announced.
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