The Rs 139 crore Hexagon Nutrition IPO entered its second day of bidding, with grey market sentiment moderating from earlier levels. The IPO is currently commanding a GMP of around Rs 7 per share, implying a potential listing gain of about 15% over its issue price of Rs 45, compared with nearly 26% earlier. Based on the current GMP, the stock is expected to list at approximately Rs 52 per share.
Subscription momentum remained healthy on Day 1, with the issue subscribed 1.65 times the 2.16 crore shares on offer. Retail investors led the charge, bidding 2.43 times their reserved portion, while the Non-Institutional Investor (NII) category was subscribed 2.03 times.
