Hexagon Nutrition's initial public offering (IPO), which opened on June 5 and closed on June 9, was oversubscribed by over 53 times on the third day, with strong demand across all investor categories, including the non-institutional investor (NII) segment, according to livemint.com. The issue price was set at ₹45 per share.
The IPO saw robust participation from retail, institutional, and NII investors, with the NII portion particularly well received. The strong demand led to a grey market premium (GMP) of ₹7 per share, indicating that the stock is expected to list at a 15.6% premium over the issue price. The full subscription on the first day set the tone for continued investor interest throughout the bidding period.
This level of oversubscription places Hexagon Nutrition's IPO among the highly subscribed public offerings in recent times, reflecting investor confidence in the company’s prospects. The GMP suggests a positive market sentiment and potential for a strong listing performance. Such demand dynamics are notable in the current market environment where IPOs have faced mixed responses.
The IPO subscription data and GMP were reported on June 9, the final day of the offering, by livemint.com. The strong subscription and premium indicate that Hexagon Nutrition’s shares are likely to debut on the stock exchange above the issue price.