Hero Motors Limited
MainboardHEROMOTORS • BSE, NSE
Issue details
Price band
₹79 - ₹84
Lot size
178 shares
Issue size
₹744.3 Cr
Min. investment
₹14,952
Registrar
KFin Technologies
Subscription
4.01x
Grey market premium
-₹3 · -4%
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IPO Timeline
Open
16 Sep
Close
18 Sep
Allotment
18 Sep
Listing
23 Sep
- Refunds & demat credit
- 19 Sep 2026
- Mandate end
- 3 Oct 2026
- Anchor lock-in 50%
- 18 Oct 2026
- Anchor lock-in 100%
- 17 Dec 2026
We calculate these dates from the allotment and close dates, so please treat them as indicative. Anchor lock-in applies only to issues with an anchor allotment.
Application size
| Category | Minimum | Maximum |
|---|---|---|
| RII | 178shares 1 lot · ₹14,952 | 2,314shares 13 lots · ₹1,94,376 |
| sNII (₹2L–₹10L) | 2,492shares 14 lots · ₹2,09,328 | 11,748shares 66 lots · ₹9,86,832 |
| bNII (above ₹10L) | 11,926shares 67 lots · ₹10,01,784 | No limit funds permitting |
Based on the upper price band of ₹84 and a lot of 178 shares.
Subscription
| Quota | Shares offered | Shares bid | Subscribed |
|---|---|---|---|
| NII | 1,89,87,342 | 13,75,82,608 | 7.25x |
| bNII (above ₹10L) | 63,29,114 | 5,87,35,194 | 9.28x |
| Retail (IND) | 4,43,03,798 | 19,78,09,620 | 4.46x |
| Total | 8,86,07,596 | 35,51,89,388 | 4.01x |
Last updated 38 days ago.
Issue structure
Face value
₹10 per share
Issue type
Bookbuilding IPO
Sale type
Fresh capital cum OFS
Fresh issue
₹600 Cr
7,14,28,571 shares
Offer for sale
₹400 Cr
4,76,19,047 shares
Shares pre-issue
38,27,87,005
Shares post-issue
45,42,15,576
Valuation & ratios
| Metric | Pre-IPO | Post-IPO |
|---|---|---|
| EPS | 1.08 | 0.91 |
| P/E | 77.78 | 92.31 |
| Market cap | ₹3,215.41 Cr. | ₹4,469.48 Cr |
| KPI | Mar 31, 2026 |
|---|---|
| ROE | 8.56% |
| ROCE | 19.77% |
| Debt/Equity | 0.83 |
| RoNW | 8.53% |
| PAT Margin | 3.46% |
| EBITDA Margin | 12.44% |
| NAV | 12.72 |
| Price to Book Value | 6.60 |
Financials
| Metric | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Total income | 1,216.74 | 1,111.23 | 1,083.42 |
| Profit after tax | 41.17 | 32.8 | 17.04 |
| EBITDA | 147.78 | 114 | 86.28 |
| Net worth | 482.45 | 423.95 | 385.44 |
| Assets | 1,371.83 | 1,164.62 | 1,059.86 |
| Reserves & surplus | 116.32 | 67.71 | 32.26 |
| Total borrowing | 400.79 | 407.62 | 304 |
Figures in ₹ crore, as reported by the company in its offer document.
Objects of the issue
- 1.Repayment/prepayment/redemption, in full or in part, of certain outstanding borrowings availed by Company₹190 Cr
- 2.Capital expenditure of Company through purchase of equipment for expansion in capacity of Gautam Buddha Nagar, Uttar Pradesh facility₹200 Cr
- 3.Funding inorganic growth through unidentified acquisitions and other strategic initiatives and general corporate purposes(₹171.99 Cr
- 4.Issue Expenses₹60.25 Cr
What the company says it intends to do with the money raised.
Recent comparable IPOs
| Company | Issue price | P/E | Listing close | Listing gain |
|---|---|---|---|---|
| Dhoot Transmission Ltd.Mainboard | ₹871 | 41.36 | ₹1,187.05 | +36.29% |
| SEDEMAC Mechatronics Ltd.Mainboard | ₹1352 | 126.91 | ₹1,451.10 | +7.33% |
| Tenneco Clean Air India Ltd.Mainboard | ₹397 | 28.97 | ₹490.80 | +23.63% |
| Studds Accessories Ltd.Mainboard | ₹585 | 33.06 | ₹560.30 | -4.22% |
| Sumax Engineering Ltd.SME | ₹101 | 11.66 | ₹110.45 | +9.36% |
| LAPL Automotive Ltd.SME | ₹94 | 9.91 | ₹128.29 | +36.48% |
| Poojaa Precision Engg.Ltd.SME | ₹301 | 14.25 | ₹493.50 | +63.95% |
| Happy Steels Ltd.SME | ₹66 | 9.76 | ₹68.50 | +3.79% |
| Autofurnish Ltd.SME | ₹41 | 11.64 | ₹45.15 | +10.12% |
| Gallard Steel Ltd.SME | ₹150 | 17.31 | ₹234.25 | +56.17% |
Past listing performance of comparable issues. This is not a forecast: listing gains vary widely and can turn negative.
Issue fundamentals compiled from the company's offer document via Chittorgarh, last read 27 Sep 2026. Always verify against the RHP before applying.