Hexagon Nutrition IPO: ₹138.87-crore issue opens June 5

Anchor book raises ₹41.65 crore ahead of the issue

Hexagon Nutrition, a nutrition products provider, raised ₹41.65 crore from five anchor investors on June 4, a day before its initial public offering opens for subscription. The company allotted 92,57,696 equity shares to anchor investors at ₹45 per share, which is the upper end of the IPO price band of ₹42-45. Company filings also highlight that the anchor allocation was finalised on June 4, 2026.

The anchor participation included Bandhan Small Cap Fund, Ampersand Growth Opportunities Fund Scheme-I, CP Capital Limited, Visionary Value Fund, and Innovative Vision Fund. Bandhan Small Cap Fund was the only domestic mutual fund participant mentioned in the anchor book details. As per the filing, no bids or applications were received from life insurance companies and pension funds in the anchor investor portion.

IPO size, structure, and what investors are buying

Hexagon Nutrition is looking to mobilise ₹138.87 crore through its public issue, described as a book-building IPO. The IPO is entirely an offer for sale (OFS) by promoters, the Kelkar family, which means the company will not receive any proceeds from the issue. Instead, the entire amount raised will go to the selling shareholders.

The company has approached the capital markets with an IPO of up to 3.08 crore equity shares, with some references also describing the OFS as up to 30.86 million shares. The offer price band is fixed at ₹42-45 per share. The IPO is scheduled to list on the BSE and NSE.

Key dates: open, close, allotment, and listing

The IPO will open for subscription on June 5, 2026 and close on June 9, 2026. The finalisation of share allotment is scheduled for June 10, 2026. Trading in Hexagon Nutrition shares is expected to begin on June 12, 2026, as per the timeline provided.

Anchor bidding took place on June 4, 2026. This anchor tranche is typically completed before the public issue opens, providing early price discovery and signalling institutional interest at the discovered band.

Price band, lot size, and retail application limit

Hexagon Nutrition has set a price band of ₹42 to ₹45 per share. The IPO lot size is 333 shares, and the minimum investment amount stated is ₹14,985 (based on the upper price band). Retail investors can apply up to 13 lots, which corresponds to 4,329 shares and an application amount of ₹1,94,805.

These application constraints matter because they determine the ticket size for participation and the maximum retail exposure permitted under the stated rules for this issue.

Who bought in the anchor book and how much

Bandhan Small Cap Fund received the largest allocation in the anchor book. The company filing notes that 26,66,664 shares worth nearly ₹12 crore were allocated to Bandhan Mutual Fund through Bandhan Small Cap Fund. Ampersand Growth Opportunities Fund Scheme-I bought 22.22 lakh shares worth ₹10 crore. CP Capital purchased 21.44 lakh shares worth ₹9.6 crore, while Visionary Value Fund and Innovative Vision Fund bought 11.12 lakh shares worth ₹5 crore each.

These anchor allocations were executed at ₹45 per share. In total, the anchor book comprised 92,57,696 equity shares.

Offer allocation and investor category split

The issue has stated reservations for different investor categories. As per the RHP-based allocation summary provided, 50% of the net issue is reserved for qualified institutional buyers (QIBs), 35% for retail investors, and 15% for non-institutional investors (NIIs). Separately, the anchor investor portion is reflected as 92.57 lakh shares in the anchor allocation.

A category-wise share offering table also lists shares offered to anchor investors at 92,57,911 shares (30.00%), NIIs at 46,28,956 shares (15.00%), and QIBs at 61,71,941 shares (20.00%). The same set of materials also states the broader reservation framework of QIB (50%), retail (35%), and NII (15%).

Snapshot: IPO and anchor allocation details

Table: Anchor investors and allocations

Market impact: what changes before subscription opens

The anchor placement at the upper end of the price band sets a reference point for the issue ahead of the June 5 opening. It also confirms that institutional investors were willing to allocate capital at ₹45 per share for the anchor tranche. Beyond the anchor allocation, the market will focus on subscription trends across QIB, NII, and retail categories through the bidding window ending June 9.

Since the IPO is an OFS, the transaction primarily reflects promoter share sale rather than fund-raising for business expansion. That distinction matters for investors assessing how proceeds flow, because the company has stated it will not receive any proceeds from the IPO.

Why the anchor book matters for investors

Anchor allocations help establish early demand signals, but they do not substitute for overall subscription strength during the public bidding period. The disclosed mix of anchor investors and the sizes of their allocations provide a clear view of who supported the deal ahead of launch. The absence of life insurance and pension fund participation in the anchor portion is also a specific data point investors may track when comparing institutional participation across IPOs.

The next set of confirmed data points will be the daily subscription numbers, the basis of allotment on June 10, and the start of trading on June 12. Until then, the key disclosed facts remain the price band, OFS structure, anchor allocation, and the schedule.

Conclusion

Hexagon Nutrition’s ₹138.87 crore IPO opens on June 5 with a ₹42-45 price band, following an anchor raise of about ₹41.65 crore through an allotment of 92,57,696 shares at ₹45. The issue closes June 9, allotment is scheduled for June 10, and listing is expected on June 12, with the offer structured entirely as a promoter OFS.