Hexagon Nutrition’s initial public offering (IPO) is set to open for subscription on Friday, 5 June. The ₹139-crore IPO will remain open till Wednesday, 9 June.
Established in 1993, Hexagon Nutrition is a research-focused nutrition company offering a diverse portfolio that includes micronutrient premixes, therapeutic nutrition solutions, and clinical nutrition products.
Hexagon Nutrition IPO GMP ahead of opening
The shares of Hexagon Nutrition IPO are currently trading at a ₹0 premium in the grey market, as per websites tracking the grey market.
Ahead of the opening, the GMP of Hexagon Nutrition IPO is +0, according to Investorgain. This means that the estimated listing price of Hexagon Nutrition IPO is likely to be the same as the IPO price.
Hexagon Nutrition IPO details
Ahead of the launch, the company announced a price band of ₹42-45 per share.
The IPO consists entirely of an offer for sale (OFS) of up to 30.86 million equity shares, with no fresh issue component. Existing shareholders Arun Purushottam Kelkar, Subhash Purushottam Kelkar, Aditya Kelkar, and Nutan Subhash Kelkar will dilute part of their stakes through the OFS.
The share allotment is expected to be finalised on June 10, while the stock is slated to list on the BSE and NSE on June 12. Investors must apply for a minimum lot of 333 shares, translating into an investment of ₹14,985 at the upper end of the price band.
Around 50% of the issue has been booked for QIBs; not less than 35% of the public issue is reserved for retail investors and over 15% is reserved for non-institutional investors (NIIs).
According to the RHP, the primary objectives of the offer are to secure the advantages associated with listing the company’s equity shares on stock exchanges, to strengthen the company’s brand recognition and expand its market presence, and to provide an exit and liquidity opportunity for existing shareholders.
Cumulative Capital is the book running lead manager and Kfin Technologies Ltd. is the registrar of the issue.
Disclaimer: This story is for educational purposes only. Please consult with an investment advisor before making any investment decisions.
