Hexagon Nutrition Ltd IPO
Status: Closed
Overview
IPO date
05 Jun 2026 to 09 Jun 2026
Face value
âč 1 per share
Price
âč 42 to âč45 per share
Issue Size
30,859,704 shares
(aggregating up to âč 138.87 Cr)
(aggregating up to âč 138.87 Cr)
Allotment Date
10 Jun 2026
Listing at
NSE
Issue type
Book Building
Sector
FMCG
Unlock Stock of the Month
T&C*
Strengths vs Risks of Hexagon Nutrition Ltd
Know the pros & cons
Strengths
- A fully integrated holistic nutrition company offering end-to-end solutions across the value chain and a market leader in customized micronutrient formulations.
- Recognized wellness and clinical nutrition brand in the market.
- Long Standing Relationships with our customers.
- Established R&D capabilities with focus on innovation.
- Manufacturing capabilities of products with quality and food safety procedures.
- Well established pan India omnichannel distribution with presence across various geographies.
- Professional turned entrepreneur promoters with experienced management team.
- Track record of growth in financial performance.
Risks
- The company is significantly dependent on the premix formulation segment for a substantial portion of its revenues. During the nine month period ended December 31, 2025, Fiscal 2025, Fiscal 2024, and Fiscal 2023, revenue from the premix formulations segment amounted to Rs. 1,377.26 million, Rs. 1,546.95 million, Rs. 1,333.13 million, and Rs. 1,527.99 million, respectively, contributing 51.47%, 47.61%, 44.78%, and 54.86% of the company revenue from operations for the respective Fiscals. Any adverse development affecting this segment may has a material adverse effect on its business, financial condition, and results of operations.
- The company is dependent on a limited number of customers for a significant portion of its revenue. During the nine month period ended December 31, 2025, Fiscal 2025, Fiscal 2024, and Fiscal 2023, revenue from its top 10 customers aggregated to Rs. 1,118.97 million, Rs. 1,490.49 million, Rs. 1,453.69 million, and Rs. 1,271.29 million, constituting approximately 41.82%, 45.87%, 48.83%, and 45.65% of the company revenue from operations, respectively. Loss of one or more such customers or a reduction in their order volumes may adversely affect its business, financial condition, and results of operations.
- Reconstruction of a portion of the company Nashik Facility pursuant to past regulatory actions may lead to temporary production disruptions, operational inefficiencies, and potential revenue impact.
- Sale of expired, defective, or non-compliant products, or failures to meet applicable quality standards, could expose the company to significant liability, damage its reputation, and adversely affect the company business, results of operations, and financial condition.
- The company does not has long-term contracts with its raw material suppliers, and volatility in raw material prices or adverse sourcing conditions may adversely impact the company operations, profitability, and financial performance.
- The company efforts to introduce new products is dependent on the success of its research and development initiatives. The company inability to successfully develop and commercialise new products in a timely manner could adversely impact its business, growth, and financial condition.
- The presence of counterfeit and look-alike products, particularly in the domestic market, may harm the company brand reputation, erode customer trust, and adversely impact its business and financial performance.
- Majority of the company revenue from operations is generated from key states of India, including Maharashtra, Karnataka, Tamil Nadu and Gujarat which exposes its operations to potential geographical concentration risks arising from local and regional factors which may adversely affect the company operations and in turn its business, results of operations and cash flows.
- Exposure to cross-border operational, regulatory, and macroeconomic risks across multiple jurisdictions may materially and adversely affect the company business, cash flows, results of operations, and future prospects.
- Suboptimal capacity utilisation at the company manufacturing facilities may limit operational efficiency and adversely affect its business and financial condition.
- The company operations is subject to evolving health, safety and environmental laws and regulatory standards.
- The company is exposed to foreign currency exchange rate fluctuations, which may adversely affect its financial condition, cash flows, and results of operations.
- Any disruption in production at, or shutdown of, the company manufacturing facilities, or breakdown of machinery could materially and adversely affect its business operations, financial condition, and growth prospects.
- Inability to obtain, maintain or renew requisite statutory and regulatory permits and approvals for the company business operations could materially and adversely affect its business, prospects, cash flows, results of operations, and financial condition.
- The company inability to collect trade receivables and default in payment from its customers could adversely affect the company business, financial condition and results of operations and cash flows
- There may has been certain instances of non-compliances with respect to certain corporate actions taken by the Company in the past. Consequently, its may be subject to regulatory actions and penalties.
- The company failures in maintaining its quality accreditations and certifications may negatively impact materially and adversely affect the company revenue generation, brand credibility, and overall business operations.
- The company growth and market position depends on strengthening its brand portfolio and executing effective marketing strategies. Failures to does so may impact consumer trust and financial performance.
- The company facilities is subject to client inspections and quality audits. Any failures to meet prescribed standards or customer expectations may lead to loss of business, reputational damage, and financial liabilities.
- The company has certain contingent liabilities which, if materialized, may adversely affect its financial condition.
- The company has experienced a significant reduction in revenue contribution from repeat customers, primarily in the company ESG segment, which may adversely affect its revenue visibility, profitability and financial stability.
- The company depends significantly on its distribution network, including domestic and international channel partners, for the sale and delivery of the company branded nutrition products.
- Improper handling, processing, or storage of the company products or raw materials or any real or perceived contamination could result in regulatory action, product recalls, reputational harm, and adversely affect its business, financial condition, and results of operations.
- The company has not entered into long-term or definitive agreements with its customers. The absence of committed contracts may lead to revenue volatility and could adversely affect the company business, financial condition, and results of operations.
- The company does not own some of the premises from where its operates.
- The company enter into certain related party transactions in the ordinary course of its business and the company cannot assure you that such transactions will not adversely affect its business, results of operations, profitability and margins, cash flows and financial condition.
- There is certain outstanding proceedings involving the Company, Subsidiaries, Promoters, Directors and Key Managerial Personnel and Senior Management. Failures to defend these proceedings successfully may has an adverse effect on the company business prospects, financial condition, results of ongoing operations and reputation.
- There is certain instances of delays in payment of statutory dues. Any delay in payment of statutory dues or non-payment of statutory dues in dispute may attract financial penalties from the respective government authorities, which may has an adverse impact on the company financial condition and cash flows.
- The company ability to access capital at attractive costs depends on its credit ratings. Non-availability of credit ratings or a poor rating may restrict the company access to capital and thereby adversely affect its business and results of operations.
- The Company's Directors or Promoters may enter into ventures that may lead to real or potential conflicts of interest with its business.
- Inability to accurately forecast demand or manage inventory levels may adversely affect the company operations, financial performance, and brand reputation.
- The company relies on contract labour for carrying out certain of its operations and the company may be held responsible for paying the wages of such workers, if the independent contractors through whom such workers is hired default on their obligations, and such obligations could has an adverse effect on its results of operations, cash flows and financial condition.
- The company has significant working capital requirements and its inability to meet such working capital requirements may has an adverse effect on the company results of operations.
- Certain of the company business transactions is entered into with government or government-funded entities in India and overseas and any change in the government policies, practices or focus may adversely affect its business, cash flows and results of operations.
- The company relies on third-party transportation providers for inbound raw materials and outbound finished goods, and any disruption or inefficiency in such logistics arrangements may adversely affect its business, financial condition, results of operations, and cash flows.
- The company faces competition in relation to its offerings, including from competitors that may has greater financial and marketing resources. Failures to compete effectively may has an adverse impact on the company business, financial condition, results of operations and prospects.
- The company may not be able to correctly assess the demand for its products, which may adversely affect the company business, financial condition, cash flows and results of operations.
- If the company fail to keep pace with the rapid changes in the industry and market, it will result in a decline in demand for its products and revenues.
- The company failures to protect confidential information like its product recipes, formulations, pricing or launch information could adversely affect the company competitive position.
- If the company is unable to protect its intellectual property and technical know-how against third party infringement or breaches of confidentiality or are found to infringe on the intellectual property rights of others, it could has a material adverse effect on its business, results of operations and financial condition.
- Restrictions imposed in the secured credit facilities and the company other outstanding indebtedness may limit its ability to operates the company business and to finance its future operations or capital needs.
- The company insurance coverage may not be sufficient or adequate to protect its against all material hazards, which may adversely affect the company business, results of operations, financial condition and cash flows.
- The company may not be able to implement its business strategies or sustain and manage the company growth.
- The attrition rate of the company employees for the nine month period ended December 31, 2025, Fiscal 2025, Fiscal 2024 and Fiscal 2023 was 23.48%, 34.48%, 35.73% and 62.54%, respectively. High or increased attrition rate among its workforce could adversely affect the company operational efficiency and business performance.
- The company manufacturing facilities in Chennai and Thoothukudi has been established on a land in special economic zone which is allotted to its on a leasehold basis. Failures to comply with the conditions of use of such land could result in an adverse impact on the company business and financial condition.
- The company had negative cash flows from operations in the past, and may continue to does so in the near term as its expand the company business and enhance its products and services. Failures to generate sufficient cash from operations could adversely affect its liquidity and the company ability to fund its operations.
- The company Subsidiaries has incurred losses in the past and may continue to incur losses in the future. Its may be required to continue providing financial support to these subsidiaries which may adversely affect the company consolidated results of operations and financial condition.
- The company profitability, including PAT margins and returns on capital employed, has improved in recent years; however, such performance may not be sustained and is dependent on several factors that may materially and adversely affect its financial results.
- The Company had previously filed draft offer documents with the regulatory authorities; however, the proposed issue at that time Withdrawal of Previously Filed Draft Offer Documents Upon Expiry of Regulatory Validity.
- The Company was incorporated in 1993 and certain documents filed by its with the RoC and certain corporate records and other documents, is not traceable. The company cannot assure you that such forms or records will be available at all or any time in the future.
- Shortage or unavailability of electricity or fuel could affect the company manufacturing operations and may has an adverse effect on its business, results of operations and financial condition.
- Some of the company Promoters and Promoter Group individuals has provided personal guarantees as security for certain facilities availed by its Company and the company subsidiaries. If these guarantees are revoked, its may be unable to procure alternative guarantees satisfactory to the company lenders, which may adversely affect its business, results of operations, cash flows and financial condition.
- If the company is unable to maintain an effective system of internal controls, its may not be able to successfully manage or accurately report, the company financial risks.
- The company currently relies extensively on its systems including information technology systems and products processing/quality assurance systems and their failures could adversely affect the company manufacturing operations.
- Certain sections of this Red Herring Prospectus contain information from the CARE Report which the company commissioned and purchased and any reliance on such information for making an investment decision in the Offer is subject to inherent risks.
- Certain Promoters, Directors and Key Managerial Personnel are interested in the Company's performance in addition to their remuneration and reimbursement of expenses.
- Any damages caused by fraud or other misconduct by the company employees could adversely affect its business, results of operations and financial condition.
- The company will not receive any proceeds from the Offer for Sale by the Selling Shareholder. The Selling Shareholder will receive the entire proceeds from the Offer for Sale.
- Any non-compliance by the Company with the regulatory and sanction regimes of various countries could harm its reputation or result in regulatory action which could materially and adversely affect the company business.
- Some of the company business operations is being conducted on leased premises. Its inability to seek renewal or extension of such leases may adversely affect the company business operations.
- Rights of shareholders under Indian laws may be more limited than under the laws of other jurisdictions.
- QIB and Non-Institutional Investors is not permitted to withdraw or lower their Bids (in terms of quantity of Equity Shares or the Bid Amount) at any stage after submitting a Bid.
- The Company has declared dividends in the previous fiscals. Its ability to pay dividends in the future will depends upon the company future earnings, financial condition, cash flows, working capital requirements and capital expenditures.
- The company is dependent on its Promoters for functioning of the company business and its believe that the company senior management team and other key managerial personnel in its business are critical to the company continued success and its may be unable to attract and retain such personnel in the future.
- The company Promoters and members of the Promoter Group will continue jointly to retain majority control over its Company after the Offer, which will allow them to determine the outcome of matters submitted to shareholders for approval.
- The Offer Price, market capitalisation to revenue multiple and price to earnings ratio based on the Offer Price of the Company, may not be indicative of the market price of the Equity Shares on listing.
- The company has in this Red Herring Prospectus included certain non-GAAP financial measures and certain other industry measures related to its operations and financial performance. These non-GAAP measures and industry measures may vary from any standard methodology that is applicable across the industry, and therefore may not be comparable with financial or industry related statistical information of similar nomenclature computed and presented by other companies.
- None of the Directors of the Company has experience of being a director of a public listed company.
- The company estimates and forward-looking statements may prove to be inaccurate.
- The company subsidiary, Hexagon Nutrition Proprietary Limited, has been subject to Emphasis of Matter paragraphs in its audit reports relating to material uncertainty regarding its ability to continue as a going concern.
- The company financial statements has been restated pursuant to the Scheme of Amalgamation, and any risks arising from the implementation or integration of the amalgamated entity could adversely affect its business and financial condition.
Hexagon Nutrition Ltd Peer Comparison
Understand the companyâs industry standing
Hexagon Nutrition Limited
Zydus Wellness Limited
Nestlé India Limited
Face Value
1
2
1
Standalone / Consolidated
Consolidated
Consolidated
Consolidated
Total Income Rs. Cr.
324.93
2780.9
20201.56
EPS-Basis
1.75
10.9
16.63
EPS-Diluted
1.75
10.9
16.63
NAV Per Share
15.91
178.26
21.35
P/E-Basic EPS
---
46.22
88.86
P/E-Diluted EPS
---
---
---
RONW(%)
12.46
6.12
77.91
Latest NAV Period
---
---
---
Latest NAV
---
---
---
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The IPO opens on 05 Jun 2026 & closes on 09 Jun 2026.
Hexagon Nutrition Ltd was originally incorporated as Hexagon Chemoils Private Limited', a Private Limited Company pursuant to a Certificate of Incorporation dated May 27, 1993 issued by the Registrar of Companies, Maharashtra at Mumbai. The name of Company was changed to Hexagon Nutrition Private Limited' dated January 10, 2006 issued by the RoC. Subsequently, Company was converted into a Public Limited and the name of Company was changed to Hexagon Nutrition Limited' through a fresh Certificate of Incorporation issued by the RoC, Mumbai on November 15, 2021.
Led by the Founder Promoters, Arun Purushottam Kelkar and Subhash Purushottam Kelkar, the Company is a differentiated and research oriented pure-play nutrition company. Their product portfolio addresses a broad spectrum of aspects like fortification of foods, therapeutic nutrition, clinical nutrition and alleviation of malnutrition. The Company is engaged in manufacturing and trading of nutraceuticals clinical or dietary supplements, micronutrient premixes and animal feed.
Having started the business in 1993 as a micro-nutrient formulations player, Hexagon has moved up the value chain to develop brands 'Pentasure', 'Obesigo' and 'Pediagold' which are leading names in the health, wellness, and clinical nutrition space. The Company started second manufacturing unit in Chennai SEZ (MEPZ) in year 2004. The 'Pentasure' brand was introduced in 2009. In 2013, the Company received approval to establish a food testing laboratory.
The Company classify product portfolio mainly into 3 segments, comprising of Branded nutrition products/ clinical nutrition products, Premix formulations and Ready to use foods (RUFs) and Micro Nutrient Powder (MNPs). Presently, it operate 3 manufacturing facilities, in Nasik (Maharashtra), Chennai (Tamil Nadu) and Thoothukudi (Tamil Nadu). But as of now, these facilities are located strategically to ports and duty-free imports across Chennai and Thoothukudi, especially located in SEZ.
The Company offer branded wellness and clinical nutrition products encompassing daily nutritional requirement across demographies from pediatric to geriatric nutrition. They offer customized micronutrient formulation in the form of vitamin and mineral premixes that are
supplied to Indian and multi-national FMCG players for fortification of consumer products including malted health beverages, biscuits, dairy products, spreads, flour and edible oils. Their ready to use therapeutic food (RUTF) products are used for treatment of severe acute malnutrition and ready to use supplementary food (RUSF) products are used for treatment of moderate acute malnutrition.
The Company has planned an Initial Public Offer of Equity Shares comprising Fresh Issue of Rs 100 Crore and the Offer for Sale of issuing upto 30,113,918 Equity Shares.
Hexagon Nutrition Ltd IPO will close on 09 Jun 2026.
- A fully integrated holistic nutrition company offering end-to-end solutions across the value chain and a market leader in customized micronutrient formulations.
- Recognized wellness and clinical nutrition brand in the market.
- Long Standing Relationships with our customers.
- Established R&D capabilities with focus on innovation.
- Manufacturing capabilities of products with quality and food safety procedures.
- Well established pan India omnichannel distribution with presence across various geographies.
- Professional turned entrepreneur promoters with experienced management team.
- Track record of growth in financial performance.
| S.No | Promoters Name | Pre Issue Shares | Pre Issue Percentage | Post Issue Shares | Post Issue Percentage |
|---|---|---|---|---|---|
| 1 | Arun Purushottam Kelkar | 24346406 | 19.81 | 22809929 | 18.56 |
| 2 | Subhash Purushottam Kelkar | 24188993 | 19.68 | --- | --- |
| 3 | Vikram Arun Kelkar | 25945044 | 21.11 | 25945044 | 21.11 |
| 4 | Nikhil Arun Kelkar | 21216068 | 17.26 | 21216068 | 17.26 |
| 5 | Aditya Kelkar | 1526092 | 1.24 | --- | --- |
| 6 | Anuradha Arun Kelkar | 9053059 | 7.37 | 9053059 | 7.37 |
| 7 | Nutan Subhash Kelkar | 3608142 | 2.94 | --- | --- |
- The company is significantly dependent on the premix formulation segment for a substantial portion of its revenues. During the nine month period ended December 31, 2025, Fiscal 2025, Fiscal 2024, and Fiscal 2023, revenue from the premix formulations segment amounted to Rs. 1,377.26 million, Rs. 1,546.95 million, Rs. 1,333.13 million, and Rs. 1,527.99 million, respectively, contributing 51.47%, 47.61%, 44.78%, and 54.86% of the company revenue from operations for the respective Fiscals. Any adverse development affecting this segment may has a material adverse effect on its business, financial condition, and results of operations.
- The company is dependent on a limited number of customers for a significant portion of its revenue. During the nine month period ended December 31, 2025, Fiscal 2025, Fiscal 2024, and Fiscal 2023, revenue from its top 10 customers aggregated to Rs. 1,118.97 million, Rs. 1,490.49 million, Rs. 1,453.69 million, and Rs. 1,271.29 million, constituting approximately 41.82%, 45.87%, 48.83%, and 45.65% of the company revenue from operations, respectively. Loss of one or more such customers or a reduction in their order volumes may adversely affect its business, financial condition, and results of operations.
- Reconstruction of a portion of the company Nashik Facility pursuant to past regulatory actions may lead to temporary production disruptions, operational inefficiencies, and potential revenue impact.
- Sale of expired, defective, or non-compliant products, or failures to meet applicable quality standards, could expose the company to significant liability, damage its reputation, and adversely affect the company business, results of operations, and financial condition.
- The company does not has long-term contracts with its raw material suppliers, and volatility in raw material prices or adverse sourcing conditions may adversely impact the company operations, profitability, and financial performance.
- The company efforts to introduce new products is dependent on the success of its research and development initiatives. The company inability to successfully develop and commercialise new products in a timely manner could adversely impact its business, growth, and financial condition.
- The presence of counterfeit and look-alike products, particularly in the domestic market, may harm the company brand reputation, erode customer trust, and adversely impact its business and financial performance.
- Majority of the company revenue from operations is generated from key states of India, including Maharashtra, Karnataka, Tamil Nadu and Gujarat which exposes its operations to potential geographical concentration risks arising from local and regional factors which may adversely affect the company operations and in turn its business, results of operations and cash flows.
- Exposure to cross-border operational, regulatory, and macroeconomic risks across multiple jurisdictions may materially and adversely affect the company business, cash flows, results of operations, and future prospects.
- Suboptimal capacity utilisation at the company manufacturing facilities may limit operational efficiency and adversely affect its business and financial condition.
- The company operations is subject to evolving health, safety and environmental laws and regulatory standards.
- The company is exposed to foreign currency exchange rate fluctuations, which may adversely affect its financial condition, cash flows, and results of operations.
- Any disruption in production at, or shutdown of, the company manufacturing facilities, or breakdown of machinery could materially and adversely affect its business operations, financial condition, and growth prospects.
- Inability to obtain, maintain or renew requisite statutory and regulatory permits and approvals for the company business operations could materially and adversely affect its business, prospects, cash flows, results of operations, and financial condition.
- The company inability to collect trade receivables and default in payment from its customers could adversely affect the company business, financial condition and results of operations and cash flows
- There may has been certain instances of non-compliances with respect to certain corporate actions taken by the Company in the past. Consequently, its may be subject to regulatory actions and penalties.
- The company failures in maintaining its quality accreditations and certifications may negatively impact materially and adversely affect the company revenue generation, brand credibility, and overall business operations.
- The company growth and market position depends on strengthening its brand portfolio and executing effective marketing strategies. Failures to does so may impact consumer trust and financial performance.
- The company facilities is subject to client inspections and quality audits. Any failures to meet prescribed standards or customer expectations may lead to loss of business, reputational damage, and financial liabilities.
- The company has certain contingent liabilities which, if materialized, may adversely affect its financial condition.
- The company has experienced a significant reduction in revenue contribution from repeat customers, primarily in the company ESG segment, which may adversely affect its revenue visibility, profitability and financial stability.
- The company depends significantly on its distribution network, including domestic and international channel partners, for the sale and delivery of the company branded nutrition products.
- Improper handling, processing, or storage of the company products or raw materials or any real or perceived contamination could result in regulatory action, product recalls, reputational harm, and adversely affect its business, financial condition, and results of operations.
- The company has not entered into long-term or definitive agreements with its customers. The absence of committed contracts may lead to revenue volatility and could adversely affect the company business, financial condition, and results of operations.
- The company does not own some of the premises from where its operates.
- The company enter into certain related party transactions in the ordinary course of its business and the company cannot assure you that such transactions will not adversely affect its business, results of operations, profitability and margins, cash flows and financial condition.
- There is certain outstanding proceedings involving the Company, Subsidiaries, Promoters, Directors and Key Managerial Personnel and Senior Management. Failures to defend these proceedings successfully may has an adverse effect on the company business prospects, financial condition, results of ongoing operations and reputation.
- There is certain instances of delays in payment of statutory dues. Any delay in payment of statutory dues or non-payment of statutory dues in dispute may attract financial penalties from the respective government authorities, which may has an adverse impact on the company financial condition and cash flows.
- The company ability to access capital at attractive costs depends on its credit ratings. Non-availability of credit ratings or a poor rating may restrict the company access to capital and thereby adversely affect its business and results of operations.
- The Company's Directors or Promoters may enter into ventures that may lead to real or potential conflicts of interest with its business.
- Inability to accurately forecast demand or manage inventory levels may adversely affect the company operations, financial performance, and brand reputation.
- The company relies on contract labour for carrying out certain of its operations and the company may be held responsible for paying the wages of such workers, if the independent contractors through whom such workers is hired default on their obligations, and such obligations could has an adverse effect on its results of operations, cash flows and financial condition.
- The company has significant working capital requirements and its inability to meet such working capital requirements may has an adverse effect on the company results of operations.
- Certain of the company business transactions is entered into with government or government-funded entities in India and overseas and any change in the government policies, practices or focus may adversely affect its business, cash flows and results of operations.
- The company relies on third-party transportation providers for inbound raw materials and outbound finished goods, and any disruption or inefficiency in such logistics arrangements may adversely affect its business, financial condition, results of operations, and cash flows.
- The company faces competition in relation to its offerings, including from competitors that may has greater financial and marketing resources. Failures to compete effectively may has an adverse impact on the company business, financial condition, results of operations and prospects.
- The company may not be able to correctly assess the demand for its products, which may adversely affect the company business, financial condition, cash flows and results of operations.
- If the company fail to keep pace with the rapid changes in the industry and market, it will result in a decline in demand for its products and revenues.
- The company failures to protect confidential information like its product recipes, formulations, pricing or launch information could adversely affect the company competitive position.
- If the company is unable to protect its intellectual property and technical know-how against third party infringement or breaches of confidentiality or are found to infringe on the intellectual property rights of others, it could has a material adverse effect on its business, results of operations and financial condition.
- Restrictions imposed in the secured credit facilities and the company other outstanding indebtedness may limit its ability to operates the company business and to finance its future operations or capital needs.
- The company insurance coverage may not be sufficient or adequate to protect its against all material hazards, which may adversely affect the company business, results of operations, financial condition and cash flows.
- The company may not be able to implement its business strategies or sustain and manage the company growth.
- The attrition rate of the company employees for the nine month period ended December 31, 2025, Fiscal 2025, Fiscal 2024 and Fiscal 2023 was 23.48%, 34.48%, 35.73% and 62.54%, respectively. High or increased attrition rate among its workforce could adversely affect the company operational efficiency and business performance.
- The company manufacturing facilities in Chennai and Thoothukudi has been established on a land in special economic zone which is allotted to its on a leasehold basis. Failures to comply with the conditions of use of such land could result in an adverse impact on the company business and financial condition.
- The company had negative cash flows from operations in the past, and may continue to does so in the near term as its expand the company business and enhance its products and services. Failures to generate sufficient cash from operations could adversely affect its liquidity and the company ability to fund its operations.
- The company Subsidiaries has incurred losses in the past and may continue to incur losses in the future. Its may be required to continue providing financial support to these subsidiaries which may adversely affect the company consolidated results of operations and financial condition.
- The company profitability, including PAT margins and returns on capital employed, has improved in recent years; however, such performance may not be sustained and is dependent on several factors that may materially and adversely affect its financial results.
- The Company had previously filed draft offer documents with the regulatory authorities; however, the proposed issue at that time Withdrawal of Previously Filed Draft Offer Documents Upon Expiry of Regulatory Validity.
- The Company was incorporated in 1993 and certain documents filed by its with the RoC and certain corporate records and other documents, is not traceable. The company cannot assure you that such forms or records will be available at all or any time in the future.
- Shortage or unavailability of electricity or fuel could affect the company manufacturing operations and may has an adverse effect on its business, results of operations and financial condition.
- Some of the company Promoters and Promoter Group individuals has provided personal guarantees as security for certain facilities availed by its Company and the company subsidiaries. If these guarantees are revoked, its may be unable to procure alternative guarantees satisfactory to the company lenders, which may adversely affect its business, results of operations, cash flows and financial condition.
- If the company is unable to maintain an effective system of internal controls, its may not be able to successfully manage or accurately report, the company financial risks.
- The company currently relies extensively on its systems including information technology systems and products processing/quality assurance systems and their failures could adversely affect the company manufacturing operations.
- Certain sections of this Red Herring Prospectus contain information from the CARE Report which the company commissioned and purchased and any reliance on such information for making an investment decision in the Offer is subject to inherent risks.
- Certain Promoters, Directors and Key Managerial Personnel are interested in the Company's performance in addition to their remuneration and reimbursement of expenses.
- Any damages caused by fraud or other misconduct by the company employees could adversely affect its business, results of operations and financial condition.
- The company will not receive any proceeds from the Offer for Sale by the Selling Shareholder. The Selling Shareholder will receive the entire proceeds from the Offer for Sale.
- Any non-compliance by the Company with the regulatory and sanction regimes of various countries could harm its reputation or result in regulatory action which could materially and adversely affect the company business.
- Some of the company business operations is being conducted on leased premises. Its inability to seek renewal or extension of such leases may adversely affect the company business operations.
- Rights of shareholders under Indian laws may be more limited than under the laws of other jurisdictions.
- QIB and Non-Institutional Investors is not permitted to withdraw or lower their Bids (in terms of quantity of Equity Shares or the Bid Amount) at any stage after submitting a Bid.
- The Company has declared dividends in the previous fiscals. Its ability to pay dividends in the future will depends upon the company future earnings, financial condition, cash flows, working capital requirements and capital expenditures.
- The company is dependent on its Promoters for functioning of the company business and its believe that the company senior management team and other key managerial personnel in its business are critical to the company continued success and its may be unable to attract and retain such personnel in the future.
- The company Promoters and members of the Promoter Group will continue jointly to retain majority control over its Company after the Offer, which will allow them to determine the outcome of matters submitted to shareholders for approval.
- The Offer Price, market capitalisation to revenue multiple and price to earnings ratio based on the Offer Price of the Company, may not be indicative of the market price of the Equity Shares on listing.
- The company has in this Red Herring Prospectus included certain non-GAAP financial measures and certain other industry measures related to its operations and financial performance. These non-GAAP measures and industry measures may vary from any standard methodology that is applicable across the industry, and therefore may not be comparable with financial or industry related statistical information of similar nomenclature computed and presented by other companies.
- None of the Directors of the Company has experience of being a director of a public listed company.
- The company estimates and forward-looking statements may prove to be inaccurate.
- The company subsidiary, Hexagon Nutrition Proprietary Limited, has been subject to Emphasis of Matter paragraphs in its audit reports relating to material uncertainty regarding its ability to continue as a going concern.
- The company financial statements has been restated pursuant to the Scheme of Amalgamation, and any risks arising from the implementation or integration of the amalgamated entity could adversely affect its business and financial condition.
The Issue type of Hexagon Nutrition Ltd is Book Building.
The minimum application for shares of Hexagon Nutrition Ltd is 333.
The total shares issue of Hexagon Nutrition Ltd is 30859704.
Initial public offering of up to 30,859,704 equity shares of face value of Re. 1/- each ("Equity Shares") of Hexagon Nutrition Limited (the "Company" or the "Issuer") for cash at a price of Re. 45 per equity share including a share premium of Rs. 44 per equity share (the "Offer Price") aggregating up to Rs. 138.87 Crores through an offer for sale (the "Offer" or "Offer For Sale"), comprising up to 1,536,477 equity shares of face value of Re. 1/- each aggregating up to Rs. 6.91 Crores by Arun Purushottam Kelkar, up to 24,188,993 equity shares of face value of Re. 1/- each aggregating up to Rs. 108.85 Crores by Subhash Purushottam Kelkar, up to 3,608,142 equity shares of face value of Re.1/- each aggregating up to Rs. 16.24 Crores by Nutan Subhash Kelkar and up to 1,526,092 equity shares of face value of Re. 1/- each aggregating up to Rs. 6.87 Crores by Aditya Kelkar (collectively the "selling shareholders"). The offer will constitute 25.11% of the post-offer paid up equity share capital of the company.
Price Band: Rs. 45 per equity share bearing face value of Rs. 1 each.
The floor price is 45 times of the face value of the equity shares.
Bids can be made for a minimum of 333 equity shares of face value of Rs. 1 each and in multiples of 333 equity shares of face value of Rs. 1 each thereafter.