Hexagon Nutrition is a unique and focused food research company, focusing on whole food products that contain a variety of nutritional and healthy food products. Their product portfolio includes dietary supplementation, nutrition, clinical nutrition, and malnutrition. Hexagon started its business in 1993 and has expanded into the industry with its products “PENTASURE” for adult health and healthy eating, “OBESIGO” for weight management and “PEDIGOLD” for baby nutrition. The company has pan-India presence and exports to more than 70 countries worldwide such as French Polynesia, France, Malaysia, UAE, Qatar, Russia, Angola, Brazil etc.
The products are classified into 3 main segments –
1. Branded nutrition products/ clinical nutrition products (B2C segment)
2. Premix formulations (B2B2C Segment)- premixes manufactured by Hexagon are then supplied to companies like Dabur, Amul, Veeba Food Services, Dukes Consumer care etc
3. Ready to use foods and Micronutrient Powder (ESG Segment)
4. The company has 11 highly experienced and professionally qualified members in their R&D team. Their distribution network is spread across the globe with 25 regional distributors situated in Latin America, Southeast Asia, Africa, and the Middle East. Hexagon has three manufacturing facilities located in Nashik, Chennai and Thoothukudi.
Competitive Strengths
- The company has leading brands in wellness and clinical nutrition.
- Long-standing relationships with marquee clients leading to recurring revenues and repeat orders.
- Extensive manufacturing capabilities of products with stringent quality and food safety procedures.
- Professional turned entrepreneur promoters with an experienced management team and backed by a reputed institutional investor.
- Pioneer in micronutrient premix formulations business in South Asia and the market leader in customized premix formulations in India.
- Strong R&D capabilities with a focus on innovation.
- Well-established pan India omnichannel distribution with presence across various geographies.
Company Promoters
- Arun Purushottam Kelkar
- Subhash Purushottam Kelkar
- Vikram Arun Kelkar
- Dr. Nikhil Arun Kelkar
Company Financials
| Amount (in INR & Million) | 30 Sep 2021 | 31 March 2021 | 31 March 2020 | 31 March 2019 |
| Total Assets | 2284.19 | 2135.62 | 2021.36 | 1915.72 |
| Total Revenue | 1269.22 | 2154.35 | 2108.26 | 2359.02 |
| Profit After Tax | 152.09 | 228.61 | 185.67 | 148.25 |
Object Of The Issue
- Rs.33.5 crore is to be used to repay or prepay any debt undertaken by the company or its subsidiaries- HNEPL and HNIPL
- Rs. 15 crore will be used to fund incremental working capital requirements of the company
- Rs.19.173 crore will be towards funding of working capital expenditure in order to expand the existing manufacturing facility at Nashik
- Rs.7.15 crore will be invested in their subsidiary, HNIPL for the financing of capital expenditure requirements at the facility in Thoothukudi
Hexagon Nutrition IPO Peer Comparison
| S. No. | Face Value | Company Name | PE |
| 1 | 10 | Zydus Wellness Limited | 99.26 |
| 2 | 10 | Nestle India Limited | 87.89 |
| 3 | 1 | Dabur India Limited | 60.62 |
| 4 | 1 | Britannia Industries Limited | 46.37 |
Hexagon Nutrition IPO Strengths
- The company has developed a longstanding relationship with their marquee investors over the last 28 years of their operations. This has led to recurring orders and a stable source of revenue.
- They focus strongly on innovation and have 2 in-house R&D facilities in Chennai and Nashik along with 11 extremely qualified members in their research team.
- Hexagon has a well-established pan-India omnichannel distribution and are present across various geographies.
Hexagon Nutrition IPO Risks
- They are very heavily dependent on the premix formulation segment and also a few customers in that particular segment.
- If there is a sale of any expired product or if defective products are supplied, it will affect the reputation of the company and in turn it will materially affect the cash flows and financials.
- Since the company does not maintain long term relationships with third party suppliers, there might be a short fall in the supply which will have a material effect on the company’s business and financials.
Hexagon Nutrition IPO – Details
| IPO Opening Date | July 2022 |
| IPO Closing Date | July 2022 |
| Issue Type | Book Built Issue IPO |
| Issue Size | – |
| Face Value | ₹1 per equity share |
| IPO Price | – |
| Market Lot | – |
| Min Order | – |
| Listing At | BSE, NSE |
| Register | KFin Technologies Limited |
| QIB Shares Offered | Not more than 50% of the Net Offer |
| Retail Shares Offered | Not less than 35% of the Net Offer |
| NII (HNI) Shares Offered | Not less than 15% of the Net Offer |
Hexagon Nutrition IPO – Date Schedule
| IPO Open Date | July 2022 |
| IPO Close Date | July 2022 |
| Basis of Allotment Date | July 2022 |
| Initiation of Refunds | July 2022 |
| Credit of Shares to Demat Account | July 2022 |
| IPO Listing Date | July 2022 |
Hexagon Nutrition IPO – Lots Size & Price
| Application | Lots | Shares | Amount ( Cut-Off) |
| Minimum | – | – | – |
| Maximum | – | – | – |
Promoter Holding
| Pre Issue Share Holding | 99.44% |
| Post Issue Share Holding |
Hexagon Nutrition IPO Prospectus
Company Contact Information
| Hexagon Nutrition Limited 404 Global Chamber, Adarsh Nagar, Link Road, Andheri (West), Mumbai – 400 053, Phone: 2262136700 Email: cs.hnpl@hexagonnutrition.com Website: https://www.hexagonnutrition.com/ |
Hexagon Nutrition IPO Registrar
| Kfin Technologies Private Limited Selenium Tower – B, Plot 31 & 32, Gachibowli, Financial District, Nanakramguda, Serilingampally, Hyderabad – 500 032, Telangana Phone: +91 40 6716 2222 E-mail: hnl.ipo@kfintech.com Website: www.kfintech.com |
Hexagon Nutrition IPO Lead Manager(s)
| 1. Equirus Capital Private Limited 2. SBI Capital Markets Limited |
Hexagon Nutrition IPO FAQs
| What is Hexagon Nutrition IPO? Hexagon Nutrition IPO is a main-board IPO. The issue is priced at [] to [] per equity share. The IPO is to be listed on BSE & NSE. |
| When Hexagon Nutrition IPO will open? The IPO is to open on July 2022 for QIB, NII, and Retail Investors. |
| What is Hexagon Nutrition IPO Investors Portion? The investors’ portion for QIB-50%, NII-15%, and Retail 35%. |
| How to Apply the Hexagon Nutrition IPO? You can apply Hexagon Nutrition IPO via ASBA online via your bank account. You can also apply for ASBA online via UPI through your stock brokers. You can also apply via your stock brokers by filling up the offline form. |
| How to Apply the Hexagon Nutrition IPO through Angle One? Log in to Angle One Application with your credentials. Select the IPO. You will see the IPO Name “Hexagon Nutrition”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Angle One. |
| How to Apply the Hexagon Nutrition IPO through 5 Paisa? Log in to 5 Paisa Application with your credentials. Select the IPO. You will see the IPO Name “Hexagon Nutrition”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with 5 Paisa. |
| How to Apply the Hexagon Nutrition IPO through Upstox? Log in to Upstox Application with your credentials. Select the IPO. You will see the IPO Name “Hexagon Nutrition”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Upstox. |
| How to Apply the Hexagon Nutrition IPO through IIFL? Log in to IIFL Application with your credentials. Select the IPO. You will see the IPO Name “Hexagon Nutrition”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with IIFL. |
| What is Hexagon Nutrition IPO Size? Hexagon Nutrition IPO size is ₹600 crores. |
| What is Hexagon Nutrition IPO Price Band? Hexagon Nutrition IPO Price Band is [] to []. |
| What is Hexagon Nutrition IPO Minimum and Maximum Lot Size? The minimum bid is [] with [] amount while the maximum bid is [] with []. |
| What is the Hexagon Nutrition IPO Allotment Date? Hexagon Nutrition IPO allotment date is []. |
| What is the Hexagon Nutrition IPO Listing Date? Hexagon Nutrition IPO listing date is []. The IPO is to list on BSE and NSE. |
