Hero Motors IPO
GMP, Subscription, Price, Dates & Financial Details
Power and Energy
Incorporated in April 1998, Hero Motors Limited is an automotive technology company engaged in the design, development, manufacturing, and supply of engineered powertrain solutions to automotive original equipment manufacturers (OEMs) across the United States, Europe, India, and the ASEAN region.…
Open Date
Wed, 16 Sep 2026
Close Date
Fri, 18 Sep 2026
Price Band
₹ 79 – 84
Lot Size
178
Issue Size
₹ 1,000.00 Cr
Minimum Investment
₹ 14,952 (178 Shares)
Grey Market Premium Analysis
Day Wise GMP→Unofficial premium quoted in the grey market, tracked daily against the price band cap.
Grey market trading is unregulated. GMP figures are indicative only and should not be the sole basis for investment decisions - treat as a sentiment indicator, not a guarantee.
IPO Details
Hero Motors IPO is set to open its Initial Public Offering (IPO) for subscription on September 16, 2026. According to the Red Herring Prospectus (RHP), the IPO is a book-built issue with a total issue size of ₹1,000.00 Crore, comprising a fresh issue of 7.14 Crore equity shares aggregating to ₹600.00 Crore and an offer for sale (OFS) of 4.76 Crore equity shares aggregating to ₹400.00 Crore by the existing shareholders.
The Hero Motors IPO will open for subscription on September 16, 2026, and close on September 18, 2026. The basis of allotment is expected to be finalized on September 21, 2026, while the shares are tentatively scheduled to be listed on the NSE and BSE on September 23, 2026.
The company has fixed the price band at ₹79 to ₹84 per share, with a lot size of 178 shares. Retail investors will require a minimum investment of ₹14,952 (based on the upper price band) to apply for one lot.
KFin Technologies Limited is the registrar to the issue. ICICI Securities Limited, JM Financial Limited, and Dam Capital Advisors Ltd (Formerly Idfc Securities Ltd) are the Book Running Lead Managers (BRLMs) to the issue.
Before investing in the Hero Motors IPO, investors should carefully review the company's financial performance, business model, IPO objectives, and risk factors disclosed in the offer documents. Investors should also ensure that they submit their applications before the subscription window closes on September 18, 2026.
Hero Motors IPO Timeline (Tentative)
- IPO Open Date
- Wed, 16 Sep 26
- IPO Close Date
- Fri, 18 Sep 26
- Basis of Allotment
- Mon, 21 Sep 26
- Initiation of Refunds
- Tue, 22 Sep 26
- Credit of Shares to Demat
- Tue, 22 Sep 26
- Listing Date
- Wed, 23 Sep 26 — BSE & NSE
Open Date
16 September 2026
Close Date
18 September 2026
Basis Of Allotment
21 September 2026
Listing Date
23 September 2026
IPO Subscription
Check Live Subscription →The Hero Motors IPO subscription Data Unavailable. Subscription data will be available once biddings start. Bidding is open from 10:00 AM to 5:00 PM on 16 September 2026
IPO Reservations
The Retail Individual Investor (RII) category has the highest allocation with 0 shares, representing 0% of the total issue. Qualified Institutional Buyers (QIBs) are allocated 0 shares (0%), while Non-Institutional Investors (NIIs) receive 0 shares (0%).
| Category | Shares Offered | Shares Offered |
|---|---|---|
| Qualified Institutions | 0 | 0% |
| Retail Investors | 0 | 0% |
| Non-Institutional | 0 | 0% |
Financials Details(₹ in Crores)
| Particular | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Assets | 1371.83 | 1164.62 | 1059.86 |
| Revenue | 1216.74 | 1111.23 | 1083.42 |
| Profit After Tax | 41.17 | 32.8 | 17.04 |
| Net Worth | 482.45 | 423.95 | 385.44 |
| Reserve & Surplus | 116.32 | 67.71 | 32.26 |
| Total Borrowings | 400.79 | 407.62 | 304 |
Financials Performance
Performance Indicators
EPS Pre
Earnings per share before the IPO.
P/E Pre
IPO Offer Price ÷ EPS Pre.
EPS Post
Expected earnings per share after the IPO..
P/E (Post Issue)
IPO Offer Price ÷ EPS Post.
Hero Motors Limited KPI Information
| Particular | Mar 2026 | Mar 2025 | Mar 2024 |
|---|---|---|---|
| ROE % | 8.56 | 7.7 | 4.54 |
| ROCE % | 19.77 | 18.84 | 23.23 |
| Debt / Equity | 0.83 | 0.96 | 0.81 |
| RoNW % | 8.53 | 11.76 | 62.24 |
| Pat Margin % | 3.46 | 3.01 | 1.6 |
Peers Comparison
| Company | Face Value | PE Ratio | EPS Basic | EPS Diluted | RoNW | Net Assets |
|---|---|---|---|---|---|---|
| Hero Motors Ltd | 10 | 0 | 1.15 | 1.14 | 8.53 | 12.72 |
| CIE Automotive India Ltd | 10 | 17.68 | 21.69 | 21.69 | 13.18 | 164.65 |
| Endurance Technologies Ltd | 10 | 40.84 | 67.66 | 67.66 | 15.29 | 442.54 |
| Sona BLW Precision Forgings Ltd | 10 | 76.5 | 10.3 | 10.3 | 10.77 | 93.93 |
| UNO Minda Limited | 2 | 59.84 | 20.78 | 20.75 | 19.59 | 113.77 |
| Varroc Engineering Ltd | 1 | 56.15 | 14.73 | 14.73 | 18.7 | 80.45 |
About Hero Motors Limited
Incorporated in April 1998, Hero Motors Limited is an automotive technology company engaged in the design, development, manufacturing, and supply of engineered powertrain solutions to automotive original equipment manufacturers (OEMs) across the United States, Europe, India, and the ASEAN region. The Company offers integrated solutions for both electric and conventional powertrains, catering to a diverse range of applications, including two-wheelers, performance automobiles, e-bikes, off-road vehicles, electric and hybrid cars, heavy-duty vehicles, and electric vertical take-off and landing (eVTOL) applications.
The Company provides both system-level and component-level solutions, covering the entire product lifecycle from design and prototyping to validation, development, and delivery of powertrain systems. Its technological capabilities include continuously variable transmissions (CVTs), electric vehicle (EV) transmissions, electric motors, integrated drive units, and gear sets. Hero Motors has also established a strong position in the global e-bike powertrain market and is the only manufacturer in India producing and exporting CVT hubs and integrated electric powertrain products for e-bikes.
Hero Motors operates through two principal segments: Powertrain Solutions and Alloys and Metallics (A&M). The Powertrain Solutions segment comprises Gears and Transmissions (G&T), which serves automotive and mobility applications, and Bike Powertrain (BPT), which focuses on micro-mobility applications and global e-bike manufacturers. The A&M segment manufactures sheet metal and tubular assemblies and components, primarily catering to automotive OEMs.
The Company has established business relationships with several global customers, including BMW, Ducati, enviolo, Formula Motorsport, Hummingbird EV, and HWA, as well as leading international e-bike manufacturers. Hero Motors continues to focus on technology development and innovation through its in-house design and engineering capabilities, complemented by strategic partnerships with global technology companies.
As of March 31, 2026, the Company had 1,388 permanent employees and 707 contract workers, reflecting its established operational and engineering capabilities.
Hero Motors IPO Promoters
- Pankaj Munjal
- Charu Munjal
- Abhishek Munjal
- O P Munjal Holdings
Promoters Holding
Holding Pre Issue
84.67%
Holding Post Issue
61.08%
Hero Motors IPO Objective
The Company Hero Motors IPO proposes to utilise the Net Proceeds from the Issue towards the following objects.
- Repayment/prepayment/redemption in full or in part, of certain outstanding borrowings availed by our Company
- Capital expenditure of our Company through purchase of equipment required for expansion in capacity of our Gautam Buddha Nagar, Uttar Pradesh facility
- Funding inorganic growth through unidentified acquisitions and other strategic initiatives and general corporate purposes
Hero Motors Limited Address / Contact Details
Hero Motors Ltd.
Hero Nagar,GT Road,
Ludhiana
Ludhiana, Punjab, 141003
Phone: + 91 120441200
Email: investorrelations@heromotors.com
Website: https://www.heromotors.com/
IPO Snapshot
Hero Motors IPO Lot Size
The Hero Motors IPO has a lot size of 178 shares. Retail investors require a minimum investment of ₹14,952 by applying for 1 lot (178 shares). The maximum application allowed for the retail category is 13 lots (2,314 shares), requiring an investment of ₹1,94,376.
| Application | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 1 | 178 | 14,952.00 |
| Retail (Max) | 13 | 2,314 | 194,376.00 |
| S-HNI (Min) | 14 | 2,492 | 209,328.00 |
| S-HNI (Max) | 66 | 11,748 | 986,832.00 |
| B-HNI (Min) | 67 | 11,926 | 1,001,784.00 |
Issue Reservation
Book Running Lead Managers
- ICICI Securities Limited
- JM Financial Limited
- Dam Capital Advisors Ltd (Formerly Idfc Securities Ltd)
IPO Documents & Links
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Disclaimer: This data is for informational purposes only and does not constitute investment advice.
Frequently Asked Questions
Everything you need to know before applying to an IPO.
What is the Hero Motors IPO?
Hero Motors IPO is a Book-building IPO with a total issue size of ₹1000 crore. The Hero Motors IPO price band is ₹79 to 84 per share. The Hero Motors IPO subscription opens on Wed, Sep 16, 2026, and closes on Fri, Sep 18, 2026. The Hero Motors IPO will be listed on the BSE,NSE. KFin Technologies Limited is the registrar for the Hero Motors IPO.
When will the Hero Motors IPO open for subscription?
The Hero Motors IPO opens on Wed, Sep 16, 2026 and closes on Fri, Sep 18, 2026
What is Hero Motors IPO Price Band?
Hero Motors IPO Price Band is ₹79 to 84 per share.
What is Hero Motors IPO Lot Size?
Hero Motors IPO lot size is 178 shares, Retail investors need a minimum investment of ₹14952 based on the upper price band
What is the minimum investment for Hero Motors IPO?
The minimum investment for Hero Motors IPO is ₹14952, based on one lot of 178 shares at the upper price band of ₹84 per share.
How to apply for Hero Motors IPO?
Investors can apply for the Hero Motors IPO through the ASBA (Application Supported by Blocked Amount) facility offered by their bank or through UPI using a SEBI-registered broker or trading app. Select the desired lot size, enter your bid within the price band, and submit the application before Fri, Sep 18, 2026. The application amount remains blocked until the Hero Motors IPO allotment is finalized.
What is Hero Motors IPO Issue Size?
Hero Motors IPO issue size is ₹1000 crores.
What is the Hero Motors IPO Allotment Date?
Hero Motors IPO allotment date is Mon, Sep 21, 2026.
Who is the Hero Motors IPO Registrar?
The registrar for Hero Motors IPO is KFin Technologies Limited. Investors can go to KFin Technologies Limited website to check Hero Motors IPO allotment status, refund processing, and other IPO-related information.
Who is the Hero Motors IPO Lead Manager?
The book-running lead managers (BRLMs) for the Hero Motors IPO are ICICI Securities Limited, JM Financial Limited and Dam Capital Advisors Ltd (Formerly Idfc Securities Ltd). The lead managers are responsible for managing the IPO process, including issue structuring, regulatory compliance, marketing the public issue, coordinating with investors, and ensuring a smooth listing process. For complete details, investors should refer to the Hero Motors IPO Red Herring Prospectus (RHP).