Hexagon Nutrition has filed preliminary papers with capital market regulator Sebi to raise Rs 600 crore through an initial public offering (IPO). Mumbai-based Hexagon Nutrition is a fully integrated company engaged in product development and marketing, including research and development and nutrition manufacturing.

The company’s public issue consists of new equity shares aggregating to Rs 100 crore and an offer for sale (OFS) of up to 30,113,918 equity shares, the draft red herring prospectus (DRHP) showed.

The OFS comprises sale of up to 77 lakh shares by Arun Purushottam Kelkar, up to 61.36 lakh shares by Subhash Purushottam Kelkar, up to 15 lakh shares by Anuradha Arun Kelkar, up to 25 lakh shares by Nutan Subhash Kelkar, up to 1.22 crore shares by Somerset Indus Healthcare Fund I Ltd and up to 73,668 shares by Mayur Sirdesai.

The issue size will be approximately in the range of Rs 500-600 crore. Proceeds from fresh issuance will be used for debt payments, funding incremental working capital requirements, supporting capital expenditure requirements for expanding an existing facility, investment in subsidiary and financing capital expenditure at the existing facility and general corporate purposes.