Hexagon Nutrition Limited is a research-driven nutrition company engaged in developing and manufacturing a wide range of nutrition products across micronutrient premixes, branded wellness and clinical nutrition, therapeutic formulations, and ready-to-use food products.
The company’s product portfolio is mainly divided into three segments:
- Branded Wellness and Clinical Nutrition Products (B2C): Hexagon Nutrition sells wellness and clinical nutrition products under brands like Pentasure, Obesigo, Pediagold, and Nutrone through pharmacies, hospitals, e-commerce platforms, and its own websites.
- Premix Formulations (B2B2C): Hexagon Nutrition makes customized micronutrient premixes for food, beverage, and nutrition companies, serving both domestic and international markets.
- Ready-to-Use Foods and Micronutrient Powders under ESG Initiatives: Hexagon Nutrition manufactures RUFs and MNPs used in nutrition and public health programmes.
Hexagon Nutrition operates three manufacturing facilities in India, located at Nashik in Maharashtra, Chennai in Tamil Nadu, and Thoothukudi in Tamil Nadu, along with an international manufacturing unit in Tashkent, Uzbekistan. Its Chennai and Thoothukudi facilities are located in SEZ zones, which provide advantages such as proximity to ports and duty-free imports.
The company has a strong PAN-India omnichannel distribution network. For domestic distribution, it works with more than 342 distributors across India, including 8 distributors with multi-state presence. It also has overseas offices in South Africa, Uzbekistan, and Hong Kong to support its international business.
Between fiscals 2023 and 2025, Hexagon Nutrition exported its products to more than 75 countries across Asia, Africa, Europe, and South America. The company also has two dedicated in-house R&D facilities at Nashik and Chennai, supported by a team of qualified professionals focused on product development, innovation, and quality improvement.
As of July 31, 2025, the company had 482 employees. Overall, Hexagon Nutrition is positioned as an integrated nutrition company with a presence across branded nutrition products, premix solutions, therapeutic nutrition, and global public health nutrition markets.
Hexagon Nutrition IPO – Details
| IPO Opening Date | 05 June 2026 |
| IPO Closing Date | 09 June 2026 |
| Issue Type | Book Built Issue IPO |
| Issue Size | Total Issue Size: 3,08,59,704 Shares Worth ₹138.87 Crore Offer For Sale: 3,08,59,704 Shares Worth ₹138.87 Crore |
| Face Value | ₹1 per equity share |
| IPO Price | ₹42 – ₹45 per share |
| Market Lot | 333 Shares |
| Min Order | 333 Shares [ 1 Lot ] |
| Listing At | BSE, NSE |
| Register | Kfin Technologies Ltd. |
| QIB Shares Offered | 50% |
| NII (HNI) Shares Offered | 15% |
| Retail Shares Offered | 35% |
Hexagon Nutrition IPO – Date Schedule
| IPO Open Date | 05 June 2026 |
| IPO Close Date | 09 June 2026 |
| Basis of Allotment | 10 June 2026 |
| Initiation of Refund | 11 June 2026 |
| Credit of Shares to Demat Account | 11 June 2026 |
| IPO Listing Date | 12 June 2026 |
| Cut-off time for UPI mandate confirmation | 5 PM on June 09, 2026 |
Hexagon Nutrition IPO – Lots Size & Price
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 333 | ₹14,985 |
| Retail (Max) | 13 | 4329 | ₹1,94,805 |
| S-HNI (Min) | 14 | 4662 | ₹2,09,790 |
| S-HNI (Max) | 66 | 21,978 | ₹9,89,010 |
| B-HNI (Min) | 67 | 22,311 | ₹10,03,995 |
Competitive Strength
- The Company has over two decades of experience in micronutrient premix formulation, supported by integrated R&D and manufacturing operations in India and an export presence across 70+ countries, positioning it as an early and established participant in the micronutrient premix.
- The Company markets a portfolio of established wellness and clinical nutrition brands with a long operating history and a presence in domestic and export markets.
- Long-standing relationships with marquee clients leading to recurring revenues and repeat orders—strong R&D capabilities with a focus on innovation.
- Extensive manufacturing capabilities of products with stringent quality and food safety procedures.
- Well-established pan-India omnichannel distribution with presence across various geographies.
- Professional turned entrepreneur promoters with an experienced management team and backed by a reputable.institutional investor.
- Track record of growth in financial performance.
Company Promoters
- Arun Purushottam Kelkar
- Subhash Purushottam Kelkar
- Vikram Arun Kelkar
- Nikhil Arun Kelkar
Company Financials
| Particulars | Total Revenue | Total Expense | Profit After Tax | Total Borrowing |
|---|---|---|---|---|
| 31 March 2023 | ₹281.65 Cr | ₹267.02 Cr | ₹5.82 Cr | ₹51.87 Cr |
| 31 March 2024 | ₹304.62 Cr | ₹285.48 Cr | ₹12.21 Cr | ₹36.89 Cr |
| 31 March 2025 | ₹331.29 Cr | ₹296.78 Cr | ₹24.38 Cr | ₹26.60 Cr |
| 31 December 2025 | ₹275.57 Cr | ₹239.83 Cr | ₹27.03 Cr | ₹39.79 Cr |
Key Performance Indicator
| KPI | Values (Dec 31, 2025) |
|---|---|
| ROE | 13.02% |
| ROCE | 14.82% |
| Debt/Equity | 0.18 |
| RoNW | 12.12% |
| PAT Margin | 9.81% |
| EBITDA Margin | 14.03% |
| Price to Book Value | 2.48 |
| Pre IPO | Post IPO | |
| EPS (₹) | 1.98 | 2.93 |
| P/E (x) | 22.69 | 15.35 |
Object Of The Issue
- The IPO is entirely an Offer for Sale (OFS), where existing shareholders are selling part of their stake in the company. Through this offer, up to 3,08,59,704 equity shares with a face value of ₹1 each are being offered by the selling shareholders.
- Since the issue is an OFS, the company will not receive any proceeds from the IPO. The funds raised will go directly to the selling shareholders after deducting applicable expenses and taxes.
Hexagon Nutrition IPO Peer Comparison
| S. No. | Face Value (₹) | Company Name | P/E Ratio |
|---|---|---|---|
| 1 | 2 | Zydus Wellness Limited | 46.22 |
| 2 | 1 | Nestle India Limited | 88.86 |
✅Strengths
- Over two decades of experience in micronutrient premix formulation.
- Integrated R&D and manufacturing operations in India.
- Export presence across 70+ countries.
- Established wellness and clinical nutrition brands like PENTASURE, OBESIGO, and PEDIAGOLD.
- One of the largest premix players in India.
- One of the largest licensed suppliers of Micronutrient Powders under UN programmes.
- Diversified product portfolio across B2C, B2B2C, and ESG nutrition segments.
- Long-standing relationships with marquee customers, supporting repeat orders.
- Strong R&D capabilities with focus on innovation.
- Extensive manufacturing capabilities with quality and food safety procedures.
- Well-established PAN-India omnichannel distribution network.
- Experienced promoter and management team.
⚠️Risks
- High dependence on the premix formulation segment, which contributed 47.61% of revenue in FY25 and 51.47% in 9MFY26.
- Revenue depends on a limited number of customers; loss of major customers may impact business.
- Quality failure, defective, expired, or non-compliant products may lead to liability and reputational loss.
- No long-term contracts with raw material suppliers, exposing the company to price volatility and supply risks.
- Dependence on R&D for new product launches; delays or failure in commercialization may affect growth.
- Counterfeit or look-alike products may impact brand value and financial performance.
- Revenue concentration in select Indian states may expose the company to regional risks.
- Manufacturing facilities are significantly underutilized, and past capacity utilization may not indicate future performance.
- Operations are subject to evolving health, safety, food, and environmental regulations.
- Any disruption, shutdown, machinery breakdown, or regulatory action at manufacturing facilities may impact operations.
Hexagon Nutrition IPO Promoter Holding
| Pre Issue Share Holding | 89.41% |
| Post Issue Share Holding | 64.29% |
Hexagon Nutrition IPO Prospectus
Company Contact Information
| Hexagon Nutrition Ltd. 404 Global Chamber Adarsh Nagar Link Road Andheri (W) Mumbai, Maharashtra, 400053 Phone: +91 22 6213 6710 Email: cs.hnpl@hexagonnutrition.com Website: https://hexagonnutrition.com/ |
Hexagon Nutrition IPO Registrar
| Kfin Technologies Ltd. Phone: 04067162222, 04079611000 Email: hexagon.ipo@kfintech.com Website: https://ipostatus.kfintech.com/ |
Hexagon Nutrition IPO Lead Manager(s)
| 1. Cumulative Capital Private Limited 2. Catalyst Capital Partners Private Limited |
Hexagon Nutrition IPO FAQs
| What is the Hexagon Nutrition IPO? Hexagon Nutrition IPO is a main-board IPO. The issue is priced at ₹42 to ₹45 per equity share. The IPO is to be listed on the BSE & NSE. |
| When will the Hexagon Nutrition IPO open? The IPO is to open on 05 June 2026 for QIB, NII, and Retail Investors. |
| What is Hexagon Nutrition IPO Investors Portion? The investors’ portion for QIB – 50%, NII – 15%, and Retail – 35%. |
| What is the Hexagon Nutrition IPO Size? Hexagon Nutrition IPO size is ₹138.87 Crore. |
| What is the Hexagon Nutrition IPO Minimum and Maximum Lot Size for Retail? The minimum bid is 333 Shares with ₹14,985, while the maximum bid is 4329 Shares with ₹1,94,805. |
| What is the Hexagon Nutrition IPO Allotment Date? Hexagon Nutrition IPO allotment date is 10 June 2026. |
| What is the Hexagon Nutrition IPO Listing Date? Hexagon Nutrition IPO listing date is 12 June 2026. The IPO is to be listed on the BSE and the NSE. |
