Hexagon Nutrition IPO Day 3: 16x Demand, Dates 2026

What changed on the final day

Hexagon Nutrition’s initial public offering (IPO) reached its closing day on Tuesday, June 9, 2026, with strong participation from non-institutional and retail investors. The issue size is ₹138.87 crore, and the price band is set at ₹42 to ₹45 per share. Market trackers also pointed to steady grey market activity, which supported sentiment into the final session. While the overall subscription built strongly, the mix remained uneven across investor categories. Non-institutional investors (NIIs) continued to lead the book, while qualified institutional buyers (QIBs) stayed relatively subdued. With bidding ending on June 9, the focus now shifts to allotment and listing timelines.

IPO size, price band, and structure

The Hexagon Nutrition IPO is a book-built issue with a price band of ₹42 to ₹45 per share. The offer is entirely an Offer for Sale (OFS), meaning existing shareholders in the promoter group are selling shares. As a result, the company does not receive any proceeds from the sale. Investors typically track OFS issues closely because proceeds flow to selling shareholders, not into company operations. That said, OFS-only IPOs can still see strong demand if investors are positive on the business and valuation. The issue opened on June 5 and closed on June 9, 2026.

Subscription at 11:00 AM on Day 3

As of 11:00 AM on June 9 (Day 3), the IPO was subscribed 10.98 times overall. At that point, NII demand was the strongest, followed by retail participation, while QIB bidding remained low.

End-of-issue demand: overall 16.09x led by NIIs

By the final day’s reported overall data, the issue was subscribed 16.09 times. Category-wise, NIIs subscribed 40.98 times their reserved quota, while retail investors subscribed 14.38 times. In contrast, QIB subscription was reported at 0.41 times, or 41% of the shares reserved for them. This split indicates that demand was driven mainly by higher-risk and individual capital rather than large institutional money. Such a pattern is often closely watched because QIB participation is generally seen as a signal of institutional conviction.

What earlier days suggested about momentum

On the first two days of bidding, the IPO had been subscribed 4.60 times overall. During that period, retail subscription was reported at 6.22 times, NIIs at 6.70 times, and QIBs at 0.17 times. This established the same pattern seen on Day 3: strong retail and NII traction alongside weak QIB participation. Day-wise figures also showed a sharp jump between Day 1 and Day 2, indicating that momentum accelerated once the book started building.

Grey market premium (GMP) signals tracked by investors

Grey market activity remained a key talking point around the issue. Sources tracking the unofficial market reported the company’s unlisted shares trading at ₹51.5 per share. That implies a grey market premium (GMP) of ₹6.5 over the upper end of the price band (₹45), translating to about 14.44%. Another update cited by a tracker placed GMP at ₹6.5 in the early morning of June 9, aligning with the same implied unlisted price.

Separately, Day 2 commentary noted that grey market sentiment had moderated from the opening day. The GMP was cited at ₹7 on Day 2, compared with a peak GMP of ₹12 per share earlier, indicating that unofficial pricing cooled even as subscription grew.

Lot size and minimum investment

The IPO lot size is 333 shares. At the upper price band of ₹45 per share, the minimum retail application amount is ₹14,985 for one lot. This is an important detail for investors planning allocations across multiple IPOs during the same period. The article also cited a minimum investment figure for sNII investors of ₹209,790.

Key dates: allotment, credit, and listing

With the subscription window ending on June 9, the next milestones are set quickly after. The basis of allotment is expected to be finalised on Wednesday, June 10. Shares are expected to be credited to successful applicants’ demat accounts on Thursday, June 11. Hexagon Nutrition shares are scheduled to list on the BSE and NSE on Friday, June 12, 2026.

Market impact: what the subscription mix indicates

The subscription numbers show a demand profile dominated by NIIs and retail investors. At the same time, QIB bidding remained low based on the reported snapshots, including the 0.19x reading at 11:00 AM on Day 3 and the 0.41x figure cited in the later overall update. Alongside subscription, the grey market premium of ₹6.5 over the ₹45 cap price reflected positive unofficial sentiment going into the close.

Because the issue is a complete OFS, the IPO structure does not bring fresh capital into the company. Investors therefore tend to focus more on valuation, secondary market liquidity post-listing, and the shareholder base that emerges after allotment.

Why the final day mattered

Final-day bidding often decides the headline subscription figure, and Hexagon Nutrition’s overall subscription moving into double digits underscored strong late participation. The sharp contrast between strong NII and retail demand and muted QIB interest is the central feature of this book. The next concrete checkpoint will be the allotment outcome on June 10, followed by demat credit on June 11. Listing on June 12, 2026 will be the first official price discovery point on the exchanges.

Conclusion

Hexagon Nutrition’s ₹138.87 crore IPO closed on June 9, 2026, with overall subscription reported at 16.09x, led by NIIs and retail investors, while QIB participation stayed comparatively low. The basis of allotment is expected on June 10, with listing scheduled for June 12 on BSE and NSE.