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Hexagon Nutrition Limited (“The Company”) has filed its Draft Red Herring Prospectus (DRHP) with market regulator Securities and Exchange Board of India (SEBI).
The company is a holistic nutrition player that offers whole range of micronutrient across three verticals i.e. branded nutrition (B2C), premix formulations (B2B2C), and therapeutic nutrition products (ESG segment). The company is engaged in the entire value chain, right from research and product development to manufacturing and marketing, with a focus on quality.
The company is one of the largest premix players in India, offering customised vitamin and mineral premixes to leading Indian and multinational FMCG companies. It is also one of the largest licensed suppliers of Micronutrient Powders (MNPs) under UN programmes, supporting global food fortification and public health initiatives (Source: CARE Report).
The company plans to raise fund through an Initial Public Offering. The total Offer size comprises of an Offer-For-Sale aggregating Up to 3,08,59,704 equity shares. (“Total Offer Size”) The Company will not receive any proceeds from the Offer (“Offer Proceeds”)
The objects of the Offer are to (i) carry out the Offer for Sale of up to 3,08,59,704 Equity Shares bearing face value of ₹1 each by the Selling Shareholders aggregating up to ₹ [●] million; and (ii) achieve the benefits of listing the Equity Shares on the Stock Exchanges. (“Objects of the Offer”).
Equity shares aggregating up to 15,36,477 shares by Arun Purushottam Kelkar and up to 2,41,88,993 shares by Subhash Purushottam Kelkar (both promoter selling shareholders) are included in the offer for sale. Additionally, up to 36,08,142 equity shares by Nutan Subhash Kelkar and up to 15,26,092 equity shares by Aditya Kelkar (both promoter group selling shareholders) are included in the offer for sale.
Cumulative Capital Private Limited and Catalyst Capital Partners Private Limited are the Book Running Lead Manager for the Offer.
