New Delhi. There is good news for stock market investors. Actually, like 2021, the year of 2022 is also going to be very special for investors earning through Initial Public Offering ie IPO. Many big companies are going to present IPO in the new year. In this episode, a company engaged in the development, marketing and research of nutrition-related products is also preparing to bring Hexagon Nutrition IPO.
Target to raise Rs 600 crore
This company has submitted initial documents for IPO with the country’s market regulator Securities and Exchange Board of India (SEBI) to raise Rs 600 crore through IPO.
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The IPO of Mumbai-based Hexagon Nutrition will consist of a fresh issue of Rs 100 crore with an offer for sale (OFS) of 30,113,918 equity shares. Under this OFS, 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.
According to sources, the size of this IPO can be 500-600 crores. The proceeds from the IPO will be used to pay off debt, meet the working capital requirements of the company.
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Hexagon Nutrition was founded in 1993 by Arun and Subhash Kelkar as a micronutrient formulation company, currently the company manufactures under the brands Pentasure, Obesigo and Pediagold which is a health, wellness and He is a well-known name in the field of Clinical Nutrition. Equirus Capital and SBI Capital are the Bookrunning Lead Managers of this IPO.
Tags: business news in hindi, IPO
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