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HomeIPOHexagon Nutrition

About Hexagon Nutrition

Incorporated in the year 1993, Hexagon Nutrition Ltd. is a research-led nutrition company. The business is involved in the development and production of products in areas of micronutrient premixes, branded wellness and clinical nutrition, therapeutic formulations, and ready-to-use food products. It has three manufacturing units based in India located in Nasik (Maharashtra), Chennai (Tamil Nadu), and Thoothukudi (Tamil Nadu) and one more unit abroad in Tashkent, Uzbekistan. The two Indian units are located in Special Economic Zone areas in Chennai and Thoothukudi and offer benefits like easy access to port and duty-free imports. The product range can be segmented as follows: Products for branded wellness and clinical nutrition (B2C) Formulations of premix (B2B2C) ESG initiatives – Ready-to-Use Foods (RUFs) & Micronutrient Powders (MNPs) Hexagon Nutrition has a PAN-India omni-channel distribution system that includes retail pharmacies, hospital chains, online portals, e-pharmacy sites, and own branded sites like Pentasure, Obesigo, Pediagold, and Nutrone. It has over 358 distributors across India, including 8 multi-state distributors for domestic distribution. The firm has opened overseas branches in South Africa, Uzbekistan, and Hong Kong to facilitate its international operations. Its products have been sold to over 75 nations located in Asia, Africa, Europe, and South America during fiscal years 2023 to 2025. Hexagon Nutrition has two research & development centers located in Nasik and Chennai with the assistance of a team of 12 specialists. As of March 31, 2026, Hexagon had 527 employees.

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Open  Close17th Sep 2026 - 21st Sep 2026
Issue Size22561.57 Cr
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Issue Price₹ 1700.00
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Hexagon Nutrition

Hexagon Nutrition

Open Date

Jun 5, 2026

Close Date

Jun 9, 2026

listed

Min Investment

₹14,985

Lot Size

333 Shares

Issue Size

₹138.87 Cr

Price Range

₹42 - ₹42

Listing Date

Jun 12, 2026

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Revenue Growth

Company Valuation

Earning Expansion

The investment checklist helps you understand a company's financial health at a glance and identify quality investment opportunities easily.

₹2(+6.11%)GMP
4.44%Prediction Listing Gain

Grey Market Premium (GMP) Trend

Hexagon Nutrition IPO - Issue Objectives

The IPO is a complete offer-for-sale (OFS). Net IPO proceeds will go to selling shareholders. The company want to achieve the benefits of listing its shares on the stock exchanges.

1

Carry out the offer for sale

The IPO is a complete offer-for-sale (OFS). Net IPO proceeds will go to selling shareholders.

2

Listing on stock exchanges

The company want to achieve the benefits of listing its shares on the stock exchanges.

IPO Subscription Status

QIB
19.77x
NII
161.49x
Individual
26.85x
Total
53.68x

Times subscribed by category (bars capped at 10x for readability). Dashed line marks 1.0x (fully subscribed).

Financials of Hexagon Nutrition

In Cr.

About Strength & Risks

Why this IPO looks interesting

Key positives investors may want to consider before applying.

01

Market-leading nutrition platform

The company stands out among the select few fully integrated nutrition firms in India, owing to its strengths in research and development, manufacturing, quality control, and marketing, positioning itself as a top company in premixes and UN-related micronutrient programmes. Its diverse operations in consumer-oriented wellness, business-to-business premixes, and therapeutic nutrition, combined with its distinct in-house premix raw materials, create an advantage over its competitors, such as Abbott, Nestlé India, etc.

02

Strong global nutrition play

The company's successful creation of recurring brands of clinical nutrition has been bolstered by regulatory clearances in 14+ jurisdictions, a sales force of 167 members serving around 20,843 healthcare professionals, and e-commerce generating 6.51% of its 9MFY26 revenues.

03

Repeat revenue visibility

Business stability through long-term relationships between the company and its customers is seen from its repeated customers generating ₹148.6 crore or 55.54% of total 9MFY26 sales, which include ₹118.6 crore (44.32%) generated by repeated B2B2C customers.

What investors should watch closely

Risk factors and possible pressure points around the offer.

01

Dependent on premix segment

The premix formulation business brings in 51.4% of income in 9MFY26, indicating strong dependency on this segment, and even a minor issue related to demand, customers, cost of materials, or delay of up to 9–12 months in Nashik and Chennai plants renovation will have an adverse effect.

02

High customer concentration

Top 10 clients accounted for revenue contribution of 41.82% in 9MFY26, while the largest client accounted for 10.32%, yet the lack of long-term contracts in many businesses makes them prone to price pressures and risks of losing their customers.

Contact Details

Hexagon Nutrition

404 Global Chamber, Adarsh Nagar Link Road, Andheri (W), Mumbai, Maharashtra - 400053.

+912262136710
cs.hnpl@hexagonnutrition.com
https://hexagonnutrition.com

Hexagon Nutrition IPO - FAQs

Hexagon Nutrition IPO is a Mainboard IPO. The issue is priced at 42-₹45. The minimum order quantity is 333 Shares. The IPO opens on 5 Jun, and closes on 9 Jun. TBA is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.








IPO Timeline

  • Pre Apply2026-06-03
  • Bidding Starts2026-06-05
  • Bidding Ends2026-06-09
  • Allotment Finalisation2026-06-10
  • Release of Funds2026-06-11
  • Demat Transfer2026-06-11
  • Listing2026-06-12
04

Innovation-driven product pipeline

The company’s growth is driven by innovation, having two research and development centres, 12 specialists working on innovation, 11 products launched in the past 3+ years, and 9 products currently in the pipeline, with stable investment in R&D at 0.68–0.91% during FY23-FY25.

03

Quality control failures

The company has faced operational disruptions due to quality issues. In July 2023, a Salmonella contamination incident led to the shutdown of the Thoothukudi facility for ~6 to 7 months, which resulted in a direct cost of ~₹6.57 crore along with an additional burden of ~₹1.51 crore. Further, during FY26, a selenium content-related issue at the Chennai facility led to rejection of batches and caused losses of ~₹4.23 crore.

04

Raw material dependency

The company's raw material cost has seen a rise over the last few periods, up from 46.44% of revenue in FY24 to 47.65% in FY25 and further to 60.71% in 9MFY26. The procurement base also remains concentrated, with the top 10 suppliers contributing 53.15% of total purchases. In addition, it continues to rely on imports from China, which formed 58.38% of total imports. This exposes the business to risks related to supply chain disruptions, fluctuations in raw material prices and geopolitical developments.

05

Weak cash flow generation

The operating cash flow became negative at ₹(4.07) crore during 9MFY26 due to the increase in the working capital cycle days up to 149 days, receivables stood at ₹84.95 crore, while short-term borrowings increased almost double to ₹29.13 crore, showing rising liquidity and funding pressure.