Daijiworld Media Network – Mumbai

Mumbai, Jun 12: Hexagon Nutrition made a positive debut on the stock exchanges on Friday, with its shares listing at a premium of over 7 per cent against the issue price.

The stock debuted at Rs 48.25 per share on the NSE, representing a gain of 7.22 per cent over its IPO price of Rs 45. It later climbed further to hit the upper circuit limit at Rs 50.66, marking a gain of 12.58 per cent from the issue price.

On the BSE, the shares were listed at Rs 48 apiece.

Following the listing, the company's market capitalisation stood at approximately Rs 619 crore.

Hexagon Nutrition's Rs 139-crore initial public offering had received a strong response from investors. The issue was subscribed 53.68 times overall, attracting bids for nearly 116 crore shares against the over 2.16 crore shares on offer.

Market experts said the listing performance was broadly in line with expectations, citing the company's improving profitability, margin expansion and relatively low debt levels as positives for long-term growth.

However, analysts also pointed out certain concerns, including the fact that the IPO was entirely an Offer for Sale (OFS), relatively low capacity utilisation and dependence on a limited number of business segments, which could result in short-term volatility.

Founded in 1993, Hexagon Nutrition specialises in micronutrient formulations and nutrition products. Its portfolio includes brands such as Pentasure, Obesigo and Pediagold, catering to clinical nutrition, wellness and health segments.

The company operates in more than 75 countries and offers a range of products including micronutrient premixes, therapeutic nutrition, wellness supplements and fortified foods.

According to the company, the stock market listing is expected to enhance brand visibility, strengthen market presence and provide liquidity to existing shareholders.