New Delhi: Hexagon Nutrition Ltd on Thursday raised Rs 41.66 crore from anchor investors ahead of its initial public offering (IPO).
Bandhan Small Cap Fund emerged as the sole domestic mutual fund participant in the anchor book and was allotted 26.66 lakh shares worth Rs 12 crore, according to a circular uploaded on BSE’s website.
In addition, Ampersand Growth Opportunities Fund Scheme-I, CP Capital Ltd, Visionary Value Fund and Innovative Vision Fund have been allotted shares, it added.
As per the circular, Hexagon Nutrition allotted 92.57 lakh equity shares to these investors at Rs 45 apiece.
The Rs 139-crore IPO will open for public subscription on June 5 and close on June 9. The company has fixed a price band of Rs 42-45 per equity share for the issue.
The proposed public issue is entirely an offer-for-sale (OFS) of over 3.08 crore equity shares by promoters. At the upper end of the price band, the issue size is pegged at Rs 138.87 crore.
Hexagon Nutrition said the proposed listing is aimed at enhancing its visibility, strengthening brand recognition and providing liquidity to existing shareholders.
Founded in 1993, the company started as a micronutrient formulations business and later diversified into branded nutrition products. Its portfolio includes brands such as Pentasure, Obesigo and Pediagold across health, wellness and clinical nutrition segments.
Hexagon Nutrition has a presence in 75 countries and offers products including micronutrient premixes, therapeutic nutrition, clinical nutrition, wellness products and fortified foods.
Shares of the company are expected to be listed on stock exchanges on June 12.
