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Listed
FMCG
Hexagon Nutrition Limited IPO
₹139 Cr · Offer for Sale (OFS) · FMCG
Price Band
₹42 – ₹45
GMP (Grey Market)
—
No GMP data yet
Issue Size
₹139 Cr
Offer for Sale (OFS)
Market Cap
₹553.13 Cr
At upper band
P/E Ratio
22.7x
P/S: 1.7x
Listing Date
12 Jun 2026
BSE & NSE
IPO Timeline
✓
Opens
05 Jun 2026
✓
Closes
09 Jun 2026
✓
Allotment
10 Jun 2026
✓
Refund
11 Jun 2026
✓
Listing
12 Jun 2026
IPO India Hub Recommendation: Subscribe
We recommend subscribing to the issue as the company shows solid profit generation and a reasonable valuation. However, investors should watch the intense competition that could squeeze margins.
Our Analysis — Key Points
✓ Strength
Strong profit generation in FMCG segment
The company posted a net profit of ₹24.38 crore on revenue of ₹324.93 crore, giving it an operating margin around 7.5%. This profit level demonstrates its ability to convert sales into earnings in a price‑sensitive market.
✓ Strength
Growing revenue base with healthy margins
Revenue of ₹324.93 crore for the last fiscal year shows that the company has built a sizable sales base. Consistent top‑line growth provides a platform for further expansion in the FMCG segment.
⚠ Risk
Intense competition could pressure margins significantly
The FMCG sector in India is crowded with many national and regional players, which can limit pricing power. If the company cannot differentiate its products, sales growth may slow and margins could erode.
$ Valuation
Valuation appears reasonable versus peers currently
At the upper price band the market cap would be ₹553.13 crore, implying a price‑to‑earnings multiple of about 22.7× and a price‑to‑sales multiple of 1.7×. These ratios are in line with average FMCG valuations, suggesting the price is neither overly cheap nor excessively high.
Top Analyst Reviews
| Analyst / Firm | Rating | Known For | Review |
|---|---|---|---|
| IPO India Hub Our independent review |
Original analysis based on DRHP & public financials | This page | |
| Dilip Davda Chittorgarh.com |
India's most followed independent IPO analyst | Search on Chittorgarh → | |
| Capital Market (CM Rating) CapitalMarket.com |
Widely-cited "New Issue Monitor" reports | Search on CapitalMarket → | |
| ICICI Securities ICICIdirect Research |
SEBI-registered broker research desk | Visit ICICIdirect → | |
| IPO Guru Analyst Leaderboard ipoguru.in |
Ranks 49 analysts by real IPO outcome accuracy | View leaderboard → |
External links go to each platform's IPO section — search for "Hexagon Nutrition Limited" to find the specific review. IPO India Hub does not represent the accuracy of third-party ratings.
Company Snapshot
Revenue
₹324.93 Cr
Net Profit
₹24.38 Cr
Industry
FMCG
Issue Type
Offer for Sale (OFS)
Promoters
ARUN PURUSHOTTAM KELKAR, SUBHASH PURUSHOTTAM KELKAR, VIKRAM ARUN KELKAR, NIKHIL ARUN KELKAR AND ADITYA KELKAR
Lead Managers
Cumulative Capital and Catalyst Capital Partners
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