India’s healthcare and nutrition industry continues to witness strong growth as rising health awareness, preventive healthcare adoption, and increasing demand for nutritional products drive market expansion. Consumers are increasingly focusing on wellness, clinical nutrition, and fortified food products, creating significant opportunities for companies operating in the nutrition space. The growing emphasis on micronutrient supplementation and specialised nutrition products has further strengthened the outlook for research driven nutrition companies.
Against this backdrop, Hexagon Nutrition Limited is set to open its IPO on June 5, 2026. The company is a research driven nutrition company with a diversified portfolio spanning clinical nutrition, micronutrient premixes, wellness products, and ready to use foods. Here is a detailed insight into Hexagon Nutrition Limited, its IPO, and the industry outlook.
About Hexagon Nutrition Ltd.
Incorporated in 1993, Hexagon Nutrition Ltd. is a research driven nutrition company engaged in developing and manufacturing products across micronutrient premixes, branded wellness and clinical nutrition products, therapeutic formulations, and ready to use foods.
The company operates three manufacturing facilities in India located at Nasik, Chennai, and Thoothukudi, along with an international manufacturing unit in Tashkent, Uzbekistan. Two of its Indian facilities are situated in Special Economic Zones, providing strategic advantages such as proximity to ports and duty free imports.
Its product portfolio is classified into three key segments:
- Branded wellness and clinical nutrition products (B2C)
- Premix formulations (B2B2C)
- Ready to Use Foods (RUFs) and Micronutrient Powders (MNPs) under ESG initiatives
Hexagon Nutrition has developed a PAN India omnichannel distribution network that covers retail pharmacies, hospitals, e commerce platforms, online pharmacies, and its own branded websites. The company works with more than 358 distributors across India and exports products to over 75 countries across Asia, Africa, Europe, and South America. As of March 31, 2026, the company had 527 employees.
Hexagon Nutrition IPO Details
The Hexagon Nutrition IPO is a book built issue aggregating ₹138.87 crore. The issue is entirely an Offer for Sale (OFS) of 3,08,59,704 equity shares. Since the IPO is entirely an OFS, the company will not receive any proceeds from the issue, and the proceeds will go to the selling shareholders.
The IPO is being managed by Cumulative Capital Pvt. Ltd. and Catalyst Capital Partners Pvt. Ltd., while Kfin Technologies Ltd. is acting as the registrar to the issue.
Important IPO Timeline
| Particulars | Details |
|---|---|
| IPO Open Date | June 5, 2026 |
| IPO Close Date | June 9, 2026 |
| Allotment Date (Tentative) | June 10, 2026 |
| Initiation of Refunds | June 11, 2026 |
| Credit of Shares to Demat | June 11, 2026 |
| Listing Date (Tentative) | June 12, 2026 |
Key IPO Details
Here is the table on the Hexagon Nutrition IPO Review:
| Particulars | Details |
|---|---|
| Face Value | ₹1 per share |
| Price Band | ₹42 to ₹45 per share |
| Lot Size | 333 Shares |
| Total Issue Size | 3,08,59,704 shares (aggregating up to ₹138.87 Cr) |
| Offer for Sale | 3,08,59,704 shares (aggregating up to ₹138.87 Cr) |
| Issue Type | Bookbuilding IPO |
| Sale Type | OFS Only |
| Listing At | BSE, NSE |
| Market Capitalisation | ₹553.13 Cr |
| Shareholding Pre Issue | 12,29,18,109 shares |
| Shareholding Post Issue | 12,29,18,109 shares |
Lot Size of Hexagon Nutrition IPO
Here is the table of lot sizes for each category of investors:
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 333 | ₹14,985 |
| Retail (Max) | 13 | 4,329 | ₹1,94,805 |
| S HNI (Min) | 14 | 4,662 | ₹2,09,790 |
| S HNI (Max) | 66 | 21,978 | ₹9,89,010 |
| B HNI (Min) | 67 | 22,311 | ₹10,03,995 |
Hexagon Nutrition Ltd. Financials
The Hexagon Nutrition IPO has a market capitalisation of ₹553.13 crore. As of December 31, 2025, its key performance indicators showcase a Return on Equity (ROE) of 13.02% and a Return on Capital Employed (ROCE) of 14.82%. The Return on Net Worth (RoNW) stood at 12.12%, while the company reported a PAT margin of 9.81% and an EBITDA margin of 14.03%.
The company has demonstrated steady growth in profitability over the last few years, supported by its diversified nutrition product portfolio, strong distribution network, and expanding international presence.
Other financial details of the company include the following:
Key Company Financials
| Period Ended | 31 Dec 2025 (Crores) | 31 Mar 2025 (Crores) | 31 Mar 2024 (Crores) | 31 Mar 2023 (Crores) |
|---|---|---|---|---|
| Assets | ₹327.60 | ₹261.36 | ₹250.54 | ₹288.90 |
| Total Income | ₹275.57 | ₹331.29 | ₹304.62 | ₹281.65 |
| Profit After Tax | ₹27.03 | ₹24.38 | ₹12.21 | ₹5.82 |
| EBITDA | ₹37.55 | ₹40.07 | ₹24.88 | ₹17.17 |
| Net Worth | ₹223.05 | ₹195.60 | ₹176.29 | ₹163.84 |
| Reserves and Surplus | ₹210.92 | ₹183.89 | ₹164.51 | ₹152.30 |
| Total Borrowing | ₹39.79 | ₹26.60 | ₹36.89 | ₹51.87 |
Hexagon Nutrition Ltd.: Industry Outlook
• Rising awareness regarding preventive healthcare and nutritional supplementation is driving demand for wellness and clinical nutrition products.
• Increasing focus on combating micronutrient deficiencies is creating opportunities for premix formulations, micronutrient powders, and fortified food products.
• The clinical nutrition market continues to benefit from growing healthcare expenditure, ageing populations, and increasing lifestyle related health concerns.
• Demand for ready to use therapeutic foods and nutrition solutions is growing across government programmes, NGOs, and global health initiatives.
• Expanding e commerce penetration and omnichannel distribution models are enabling nutrition companies to reach a wider consumer base.
• Hexagon Nutrition’s research driven approach, global footprint, established distribution network, and presence across multiple nutrition categories position it to benefit from long term industry growth.
Conclusion
Hexagon Nutrition Ltd. presents an interesting investment opportunity because of its strong presence in the nutrition and wellness sector. The company has built a diversified product portfolio across branded wellness products, clinical nutrition, micronutrient premixes, and ready to use foods, supported by manufacturing facilities in India and overseas.
The company has demonstrated consistent growth in profitability and maintains a strong domestic and international presence through its extensive distribution network and exports to more than 75 countries. Its dedicated research and development capabilities further strengthen its position in the nutrition industry.
However, potential investors should consider factors such as competition in the nutrition and healthcare products industry, regulatory requirements, raw material price fluctuations, and changing consumer preferences before making an investment decision.
