Hexagon Nutrition shares rallied sharply on their stock market debut on Friday, hitting the upper circuit after listing at a premium of around 7 per cent over the issue price.
The stock debuted at ₹48 on the BSE, a premium of 6.66 per cent to its issue price of ₹45 per share. On the NSE, the stock listed at ₹48.25, reflecting a premium of 7.2 per cent.
Following the listing, buying interest gathered momentum, pushing the stock to its upper circuit limits of ₹50.66 on the NSE and ₹50.39 on the BSE. At these levels, the stock was trading about 12-12.5 per cent above its offer price.
Hexagon Nutrition shares in focus
Congratulations to Hexagon Nutrition Limited on getting listed on NSE today.
Hexagon Nutrition Ltd. is a research-driven nutrition company. It is engaged in developing and manufacturing products across micronutrient premixes, branded wellness and clinical nutrition, therapeutic…— NSE India (@NSEIndia)
IPO’s strong demand
The positive listing came after the company’s ₹139-crore initial public offering (IPO) witnessed strong investor demand. The issue was
The non-institutional investor category saw the strongest response, garnering subscription of 161.49 times. The retail investor portion was subscribed 26.85 times, while the quota reserved for qualified institutional buyers (QIBs) was booked 19.77 times.
Ahead of the IPO, Hexagon Nutrition . The price band for the public issue was fixed at ₹42-45 per equity share.
The IPO consisted entirely of an offer-for-sale (OFS) of more than 3.08 crore equity shares by the company’s promoters. As a result, the company did not receive any proceeds from the issue.
Hexagon Nutrition said the proposed listing was aimed at enhancing its visibility, strengthening brand recognition and providing liquidity to existing shareholders.
Founded in 1993, the company began operations as a micronutrient formulations business and subsequently diversified into branded nutrition products. Its portfolio includes brands such as Pentasure, Obesigo and Pediagold, catering to health, wellness and clinical nutrition segments.