Hero Motors came to market through an IPO that opened on 16 September 2026 and closed on 18 September 2026, and the shares listed on 23 September 2026 on BSE, NSE. The price band was ₹79 to ₹84 per share and one lot was 178 shares, so the minimum application was ₹14,952. The issue size was ₹1000 crore. It combined a fresh issue of new shares with an offer for sale by existing shareholders.
It listed at ₹82, a loss of 2.4% against the issue price of ₹84. KFin Techologies Ltd was the registrar to the issue, and ICICI Securities Ltd, DAM Capital Advisors Ltd, JM Financial Ltd were the lead managers.
As of 18 September 2026.
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Overall the issue was subscribed 7.08 times.
Hero Motors began its operations in 2001 with the Alloys and Metallic’s segment and today is India's leading automotive technology company. The company specializes in designing, developing, manufacturing, and supplying highly engineered powertrain solutions for automotive OEM manufacturer across the world. Their products are used in various categories, 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) categories.
The company has a diverse product portfolio catering to electric vehicles (EVs) and internal combustion engine vehicles (ICEs). They are the only player manufacturing and exporting CVT hubs to global e-bike OEMs from India and are the only manufacturer of integrated electric powertrain products for e-bikes in India. The company has been involved in acquisition and joint venture to step into new horizons.
The company has developed in-house design and engineering capabilities, as well as manufacturing and validation capabilities, with adequate R&D resources, equipment, assembly lines, and end-of-line testing machines.
As described in the offer document.
| Metric | 31-Mar-26 | 31-Mar-25 | 31-Mar-24 |
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Hero Motors Limited finalised its anchor investor allocation on September 15, 2026, raising ₹300.00 crore from 24 institutional investors at an anchor price of ₹84 per share. The anchor book comprises 3,57,14,284 equity shares, with domestic mutual funds receiving 81.66% of the allocation through 9 fund houses across 16 schemes, including ICICI Prudential Mutual Fund, Kotak Mahindra Mutual Fund, JM Financial Mutual Fund, Bank of India Mutual Fund, Edelweiss Mutual Fund, ITI Mutual Fund, and The Wealth Company Mutual Fund.
Life insurance companies received 6.67%, split between ICICI Prudential Life Insurance and Edelweiss Life Insurance; no pension funds applied. The remaining allocation went to 3P India Equity Fund 1M, Navi Finserv Limited, Societe Generale – ODI, ASAS Global Fund Incorporated VCC Sub Fund, LC Pharos Multi Strategy Fund, and Unity Small Finance Bank Limited.
Pankaj Munjal, Charu Munjal, Abhishek Munjal, O P Munjal Holdings.
Work out the listing gain for this IPO
If the retail portion is not fully subscribed, every valid application is allotted in full. If it is oversubscribed, SEBI's rules require that as many applicants as possible receive at least one lot, so the shares are allotted by a computerised lottery across all valid applications, one lot each, until the retail portion is exhausted. Applying for more lots does not improve your chance in a lottery; it only increases what you receive if the issue is under-subscribed.
The basis of allotment document, published by the registrar on the allotment date, states the ratio: for example, one applicant in seven received one lot.
Allotment status is published by the registrar on its website, searchable by PAN, application number or demat account, and also on the exchange's website. Allotted shares are credited to the demat account the day before listing, and blocked money for unsuccessful applications is released the same day. The Rupix app can check allotment status by PAN once the registrar publishes it.
Shares list within three working days of the issue closing. On listing day the exchanges run a special pre-open session from nine o'clock, during which orders are collected and an opening price is discovered from them; trading in the share begins after that, usually around ten. The opening price is the listing price that appears on this page once the issue has listed, and the listing gain or loss is the difference between it and the issue price.
For a mainboard issue, the share then trades in the normal way with the exchange's price band for a new listing. For an SME issue, shares trade in lots rather than one at a time, and the market can be thin, so selling on listing day is not always possible at the opening price. Capital gains on shares sold within a year of allotment are short-term and taxed at the short-term rate.
Hero Motors IPO was a ₹1,000 crore book-built issue, comprising a fresh issue of ₹600 crore and an offer for sale of ₹400 crore. It was priced at ₹79–₹84 per share with a lot size of 178 shares (₹14,952). The IPO was open from September 16 to September 18, 2026 and was subscribed 7.08x. Shares listed on BSE and NSE on September 23, 2026 at ₹82, a 2.4% discount to the issue price of ₹84.
KFin Techologies Ltd is the registrar. ICICI Securities Ltd and 2 other book running lead managers manage the issue.
The price band of Hero Motors IPO is ₹79 to ₹84 per share.
The lot size of Hero Motors IPO is 178 shares.
The minimum investment for Hero Motors IPO is approximately ₹14,952 based on the upper price band.
The allotment date of Hero Motors IPO is Sep 21, 2026.
No GMP quote could be verified as recorded before Hero Motors IPO listed. A grey-market observation of ₹0 per share was recorded on 23 Sep 2026, 6:30 AM IST, but without a verified listing timestamp it is not treated as the final pre-listing GMP. The shares listed at ₹82. GMP is unofficial and does not forecast or guarantee the actual listing price.
Hero Motors IPO listed on Sep 23, 2026. It was issued at ₹82.0(NSE) and is currently around ₹123.90 as on 30-Oct-2026 3:30 PM, which is approximately 47.5% versus issue price. The 52-week high is ₹178.84.
You can check Hero Motors IPO allotment status on the registrar or stock exchange websites using your PAN or application number after allotment. You can also check the Hero Motors IPO allotment status on Rupix for quick and easy access.
₹79 to ₹84 per share, against a face value of ₹10. Most applicants bid at the cut-off price, the top of the band, so that the application was valid whatever price the issuer finally fixed.
One lot was 178 shares, and every application had to be a whole number of lots. At the top of the band that made the minimum application ₹14,952.
₹14,952, for one lot of 178 shares at the top of the price band. The amount was blocked in the applicant's bank account through ASBA or a UPI mandate while the issue was open, and released on the allotment date to applicants who were not allotted shares.
It opened on 16 September 2026 and closed on 18 September 2026.
The basis of allotment was published on 21 September 2026 by KFin Techologies Ltd, and allotted shares were credited to demat accounts before listing.
The shares listed on 23 September 2026 on BSE, NSE, opening at ₹82.
The issue size was ₹1000 crore. The fresh issue was 7,14,28,571 shares (aggregating up to ₹600 crore). The offer for sale was 4,76,19,047 shares (aggregating up to ₹400 crore).
It listed at ₹82 against an issue price of ₹84, a loss of 2.4 percent on listing day.