Under the IPO, fresh shares worth Rs 100 crore will be issued, while an offer for sale will be brought for 30,113,918 equity shares.
Hexagon Nutrition has filed the draft paper for its Rs 600 crore IPO. Mumbai-based Hexagon Nutrition is a fully integrated company engaged in product development and marketing. The company also has the work of R&D and nutrition manufacturing.
New shares worth Rs 100 crore will be issued
Under the IPO, fresh shares worth Rs 100 crore will be issued, while an offer for sale (OFS) will be brought for 30,113,918 equity shares. Under this, Arun Purushottam Kelkar will sell 77 lakh shares, Subhash Purushottam Kelkar 61.36 lakh shares, Anuradha Arun Kelkar 15 lakh shares, Nutan Subhash Kelkar 25 lakh shares, Somerset Indus Healthcare Fund I 1.22 crore shares and Mayur Sirdesai 73668 shares.
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IPO can be up to Rs 600 crore
According to sources, the IPO can be in the range of Rs 500 to 600 crores. The company will use the funds raised from the IPO to pay off debt, meet working capital requirements, fund expansion plans and invest in subsidiary companies. Hexagon Nutrition was founded in 1993 by Arun and Subhash Kelkar as a micronutrient formulation company. Currently, the company produces under brands like Pentasure, Obesigo and Pediagold. These brands are known to have a good reputation in health, wellness and clinical nutrition. Equirus Capital and SBI Capital will be the booking lead managers of this IPO.
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