Hexagon Nutrition clarifies Red Herring Prospectus disclosures
HEXAGON · price
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Hexagon Nutrition has issued clarifications to its Red Herring Prospectus with revisions to multiple disclosures and schedules. Key changes include: segment CODM changed from CFO to Managing Director, depreciation method changed from straight-line to written down value, defined contribution plan expanded to include ESIC and Labour Welfare Fund, and minor corrections in related party transaction numbers. A new going concern note added for Uzbekistan and South Africa subsidiaries showing a combined net liability of Rs 133.15 million, partly offset by current period profit of Rs 20.94 million. The holding company has committed unconditional financial support to these entities.
Pre-IPO corrections to prospectus. Going concern flag on two foreign subsidiaries but parent has committed support. Investors should review the revised RHP carefully.