Hero Motors Limited IPO
16 Sept 2026 – 18 Sept 2026
Share Price
- Candle
- 6 Oct
- O
- ₹168.4
- H
- ₹169.63
- L
- ₹163.33
- C
- ₹167.52
9 trading days since listing · NSE end-of-day prices
Issue Details
- Price Band
- ₹79 – ₹84
- Lot Size
- 178 shares
- Min Investment
- ₹14,952 (1 lot · 178 shares)
- Face Value
- ₹10
- Fresh Issue
- ₹600 Cr (to the company)
- Offer for Sale
- ₹400 Cr (to selling holders)
- Issue Size
- Initial Public offer comprising of Fresh issue aggregating up to Rs. 6,000 million and Offer for sale aggregating up to Rs. 4,000 million (including Anchor reservation portion of 3,57,14,284 equity shares)
- Registrar
- KFin Technologies Limited ↗
Timetable
GMP History
Latest GMP ₹-3 · Last updated 7 Oct 2026, 11:51 am IST
| Date | GMP | GMP % | Change | Est. Listing | Updated (IST) |
|---|---|---|---|---|---|
| 22 Sept | ₹-3 | -3.6% | −₹1 | ₹81 | |
| 21 Sept | ₹-2 | -2.4% | — | ₹82 | |
| 20 Sept | ₹-2 | -2.4% | — | ₹82 | |
| 19 Sept | ₹-2 | -2.4% | −₹8 | ₹82 | |
| 18 Sept | ₹6 | +7.1% | +₹0.5 | ₹90 | |
| 17 Sept | ₹5.5 | +6.5% | −₹7.5 | ₹89.5 | |
| 16 Sept | ₹13 | +15.5% | −₹6 | ₹97 | |
| 15 Sept | ₹19 | +22.6% | −₹5 | ₹103 | |
| 14 Sept | ₹24 | +28.6% | — | ₹108 | |
| 13 Sept | ₹24 | +28.6% | — | ₹108 | |
| 12 Sept | ₹24 | +28.6% | +₹11 | ₹108 | |
| 11 Sept | ₹13 | +15.5% | +₹13 | ₹97 | |
| 10 Sept | ₹0 | 0.0% | — | ₹84 |
Subscription
Category-wise bidding
| Category | Offered | Bid for | Times |
|---|---|---|---|
| QIB | 2,53,16,45628.6% | 1,97,97,160 | 0.78x |
| NII / HNI | 1,89,87,34221.4% | 13,75,82,608 | 7.25x |
| bNII · bids above ₹10L | 1,26,58,22814.3% | 7,88,47,414 | 6.23x |
| sNII · bids ₹2L–₹10L | 63,29,1147.1% | 5,87,35,194 | 9.28x |
| Retail | 4,43,03,79850.0% | 19,78,09,620 | 4.46x |
Bids received on NSE, as at 18-Sep-2026 19:00:13 IST. The two NII rows are parts of the NII total above them, not additions to it.
Day-wise subscription
| Date | QIB | NII / HNI | Retail | Total |
|---|---|---|---|---|
| 18 Sept | — | — | — | 4.01x |
| 17 Sept | 0.07x | 3.90x | 5.02x | 3.36x |
| 16 Sept | 0.01x | 1.25x | 2.23x | 1.38x |
Financials
All values in ₹ crore
About Hero Motors
Hero Motors Limited is one of India's automotive technology companies, specializing in the design, development, manufacturing, and supply of highly engineered powertrain solutions for automotive original equipment manufacturers (OEMs) across the United States, Europe, India, and the ASEAN region. The company’s diverse product portfolio serves a wide range of mobility applications, including two-wheelers, performance automotive, e-bikes, off-road vehicles, electric and hybrid cars, heavy-duty vehicles, and electric vertical take-off and landing (eVTOL) aircraft. Hero Motor Limited supplies powertrain solutions to globally recognized brands such as BMW AG, Ducati Motor Holding S.P.A., Enviolo International Inc., Formula Motorsport Ltd., Hummingbird EV, HWA AG, and leading global electric bicycle (e-bike) manufacturers. The company’s expertise extends beyond automotive applications into aerospace and other mobility sectors. Hero Motor Limited operates through two key business segments: Powertrain Solutions – Integrated systems designed to propel vehicles by converting energy into motion. Alloys and Metallics (A&M) – Advanced materials used in EVs, internal combustion engine vehicles (ICEs), and hybrid vehicles, making them powertrain-neutral. As of March 31, 2024, Hero Motor Limited operated six manufacturing facilities strategically located across India, the United Kingdom, and Thailand to enhance customer proximity and cost efficiency. The company’s Samut Prakan, Thailand facility, which began operations in Fiscal 2024, caters specifically to the ASEAN market. Its Maidenhead, United Kingdom facility, equipped with design and prototyping capabilities, has enabled Hero Motor Limited to evolve into a complete systems manufacturer for the global automotive sector. In India, the company’s manufacturing units are located in Gautam Buddha Nagar, Uttar Pradesh, and Ludhiana, Punjab.
As published in the company's own offer documents.
Strengths
- Strong R&D and engineering capabilities.
- Long-term relationships with global OEMs.
- Strong presence in the global e-mobility industry.
- Diversified powertrain product and service offerings.
- Experienced management and strong corporate governance.
- Growing presence in electric bikes and premium two-wheelers.
As stated by the company in its prospectus — not our assessment.
The company's own risk factors are not shown here. They run to dozens of pages in the Red Herring Prospectus, under “Risk Factors”, and are worth the read before applying.
Lead Managers
- ICICI Securities Limited
- DAM Capital Advisors Limited
- JM Financial Limited
Offer details
Application sizes
| Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min)one lot, the smallest bid allowed | 1 | 178 | ₹14,952 |
| Retail (max)most that stays under ₹2L | 13 | 2,314 | ₹1,94,376 |
| S-HNI (min)first bid over ₹2L | 14 | 2,492 | ₹2,09,328 |
| S-HNI (max)most that stays under ₹10L | 66 | 11,748 | ₹9,86,832 |
| B-HNI (min)first bid over ₹10L | 67 | 11,926 | ₹10,01,784 |
Priced at the top of the band, which is what a cut-off bid pays. Retail ends at ₹2,00,000 and S-HNI at ₹10,00,000; these are SEBI's limits, not the issuer's.
Issue mechanics
- Issue Type
- Book Building
- Minimum Order
- 178 Equity Shares
- Categories
- FI, IC, MF, FII, OTH, CO, IND, and NOH
- UPI Eligible
- IND (upto 5 Lakhs)
- Max Bid (Retail)
- Rs. 2,00,000
- Max Bid (QIB)
- 8,86,07,510 Equity Shares in multiple of 178 Equity Shares
- Max Bid (NII)
- 6,32,91,104 Equity Shares in multiple of 178 Equity Shares
- Tick Size
- Re. 1
- Bidding Hours
- 10.00 a.m. to 5.00 p.m.
- UPI Mandate Cut-off
- 18-Sep-2026 (upto 5:00 PM) The new cut-off time for UPI mandate acceptance is 05:00 PM on last day of IPO bidding. Further bids with confirmed status of mandate amount blocked (RC100) shall be considered as valid applications and hence, investors are advised to submit their UPI applications in IPO well in advance to avoid any last minute technical/systemic constraints that may hamper their ability
- Sponsor Bank
- AXIS Bank Limited and ICICI Bank Limited
Registrar
- Name
- KFin Technologies Limited
- Address
- 301, The Centrium, 3rd Floor, 57, Lal Bahadur Shastri Road, Nav Pada, Kurla (West), Kurla, Mumbai 400070 Maharashtra, India
- Contact
- M. Murali Krishna, +91 40 6716 2222, heromotors.ipo@kfintech.com
Documents
- Red Herring ProspectusThe full offer documentPDF
- Basis of Issue PriceHow the band was arrived atPDF
- Anchor AllocationWho was allotted before the issue openedPDF
- Application FormThe blank ASBA form, as filedPDF
- Bidding CentresWhere a physical form can be handed inPDF
- Security ParametersTick size, lot and limits as filed with the exchangePDF
- Security Parameters (post-anchor)The same, restated after the anchor book closedPDF
Published by NSE as ZIP archives; opened here as the PDF inside.
Collected from NSE and public sources. Always confirm against the prospectus before applying.
Frequently Asked Questions
What is the GMP of Hero Motors Limited IPO today?
The latest grey market premium for Hero Motors Limited IPO is ₹-3. GMP is unofficial and indicative only — it is not a guarantee of listing price.
What is the price band of Hero Motors Limited IPO?
The price band is ₹79 – ₹84, with a lot size of 178 shares. The minimum investment is ₹14,952.
When does Hero Motors Limited IPO open and close?
The issue opens on 16 Sept 2026 and closes on 18 Sept 2026. Listing is expected on 23 Sept 2026.
Who is the registrar for Hero Motors Limited IPO?
KFin Technologies Limited is the registrar. Allotment status can be checked on the registrar's website once allotment is finalised.