05-Jun-2023
2 mins read
SEBI has approved Hexagon Nutrition for its upcoming Initial Public Offering (IPO), the schedule for which is yet to be finalised. The impending IPO aims to raise Rs 600 crores, split between a fresh issue worth Rs 100 crores and an offer to sell up to 30,113,918 equity shares valued at Re 1 each. The allotment structure has been set, with retail investors receiving 35%, Qualified Institutional Buyers (QIBs) accounting for 50%, and Non-Institutional Investors (NIIs) holding the remaining 15%.
Hexagon Nutrition’s Product Portfolio
Hexagon Nutrition Limited is a Mumbai-based firm with a strong product development and marketing footprint. The company, a brainchild of founders Arun Kelkar and Subash Kelkar, was established in 1993 with a focus on nutritional research and manufacturing. Its diverse product line includes Clinical Nutrition Products, Micronutrient Premixes, Therapeutic Products, and special offerings like Fortified Rice Kernels, Animal Nutrition products, and Flour Enzymes, all catering to addressing malnutrition and promoting wellness.
The company’s offerings are not limited to India but reach a global audience in approximately 70 countries, underlining its international market presence. Hexagon Nutrition Limited operates out of three strategically placed manufacturing units in Nasik, Chennai, and Thoothukkudi, allowing it to efficiently produce and market its scientifically crafted brands. These brands are uniquely designed to cover various health-related concerns, from managing illnesses and promoting wellness to lifestyle disease control.
The Objectives of Hexagon Nutrition’s IPO
The objectives of the proposed issue include several financial strategies. Firstly, it aims to repay or prepay any outstanding debts incurred by the company or its subsidiaries – HNEPL and HNIPL. Secondly, the issue seeks to cover the company’s working capital needs and fund-associated expenditures. Lastly, the issue also plans to facilitate investment into the subsidiary HNIPL.
Financial Performance (In Crore)
| Year | Revenue | Expense | PAT |
| 2019 | Rs 235 | Rs 216 | Rs 14.83 |
| 2020 | Rs 211 | Rs 186 | Rs 18.57 |
| 2021 | Rs 215 | Rs 186 | Rs 22.86 |
| 2022 | Rs 127 | Rs 107 | Rs 15.21 |
Important Dates for Hexagon Nutritions’ IPO
| IPO Open | Yet to be announced |
| IPO Close | Yet to be announced |
| IPO Size | Approx Rs 600 Crores |
| Fresh Issue | Approx Rs 100 Crores |
| Offer for Sale | Approx 30,113,918 Equity Shares |
| Face Value | Re 1 Per Equity Share |
| Price Band | Yet to be announced |
| Listing on | BSE & NSE |
| Retail Quota | 35% |
| QIB Quota | 50% |
| NII Quota | 15% |
Hexagon Nutrition IPO Market Lot
| Minimum Lot Size | Minimum – Shares for 1 lot |
| Minimum Amount | Yet to be announced |
| Maximum Lot Size | Maximum – Shares for 13 lot |
| Maximum Amount | Yet to be announced |
Hexagon Nutrition IPO Lead Manager(s)
1. Equirus Capital Private Limited
2. SBI Capital Markets Limited
Promoters of the Company
The company’s leadership comprises several key individuals: Arun Purushottam Kelkar, Subhash Purushottam Kelkar, Vikram Arun Kelkar, and Dr Nikhil Arun Kelkar. As part of the upcoming offering, several shares from these promoters will be made available:
Arun Purushottam Kelkar is set to release approximately 77 lakh shares. Subhash Purushottam Kelkar will put up around 61.36 lakh shares. Nutan Subhash Kelkar intends to release around 25 lakh shares. Somerset Indus Healthcare Fund I Ltd is scheduled to make around 1.22 crore shares available. Lastly, Mayur Sirdesai is preparing to offer approximately 73,668 shares for purchase.
How to Apply
Wait for the public issue to open for subscription, then click on this link to apply for the Hexagon Nutrition IPO with Bigul https://ipo.bonanzaonline.com/.
How to Check Allotment Status
The registrar for Hexagon Nutrition IPO isKfin Technologies Private Limited. To check your allotment status, please click on this link www.kfintech.com
FAQs
1. What is the Hexagon Nutrition IPO?
Hexagon Nutrition’s IPO is an Initial Public Offering wherein the company plans to raise Rs 600 crores. This sum is divided between a fresh issue worth Rs 100 crores and an offer for sale of up to 30,113,918 equity shares valued at Re 1 each.
2. Who are the promoters of Hexagon Nutrition Limited?
The company’s leadership includes Arun Purushottam Kelkar, Subhash Purushottam Kelkar, Vikram Arun Kelkar, and Dr Nikhil Arun Kelkar.
3. What are the objectives of the Hexagon Nutrition IPO?
The objectives are primarily to repay or prepay any outstanding debts, cover the company’s working capital requirements, fund associated expenditures, and invest in its subsidiary HNIPL.
4. Where are Hexagon Nutrition’s products available?
Hexagon Nutrition’s products are sold in approximately 70 countries, showing its strong global presence.
5. How can I apply for the Hexagon Nutrition IPO?
Once the public issue opens for subscription, you can apply for the Hexagon Nutrition IPO using this link: https://ipo.bonanzaonline.com/.
6. How do I check the allotment status of the Hexagon Nutrition IPO?
The allotment status for the Hexagon Nutrition IPO can be checked through the website of the registrar, Kfin Technologies Private Limited, at this link: www.kfintech.com
7. What is the allotment structure for the Hexagon Nutrition IPO?
The allotment has been divided into retail investors receiving 35%, Qualified Institutional Buyers (QIBs) accounting for 50%, and Non-Institutional Investors (NIIs) holding the remaining 15%.
8. When is the Hexagon Nutrition IPO scheduled?
The schedule for Hexagon Nutrition’s IPO is yet to be finalised. Please stay tuned for further updates.
9. Who are the lead managers for the Hexagon Nutrition IPO?
The lead managers for the IPO are Equirus Capital Private Limited and SBI Capital Markets Limited.