Hexagon Nutrition IPO closes 16x subscribed; GMP signals 14% listing pop on June 12
The ₹138.87 crore pure OFS by Kelkar promoters drew 16.09x demand on Day 3, with NIIs piling in at 40.98x and retail at 14.38x. QIBs stayed cautious at 0.41x. Grey market premium holds at 14.44% over the ₹42-45 band ahead of June 12 listing.
What happened
Hexagon Nutrition's ₹138.87 crore IPO closes Day 3 subscribed 16.09x, led by NIIs at 40.98x and retail at 14.38x; QIBs lagged at 0.41x. GMP at 14.44%. Pure OFS
Key facts
- ₹138.87 crore
- 16.09x subscription
- NII 40.98x
- Retail 14.38x
- QIB 0.41x
- GMP 14.44%
- price band ₹42-45
- lot 333 shares
- list June 12
Why this matters
Hexagon's listing at a 14% premium on 16x demand sets a usable comp for nutrition/contract-manufacturing peers, but the QIB hesitation flags that strategic acquirers can likely transact below GMP-implied multiples once lock-ins open.