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HEROMOTORS · NSE,BSE · Automobile
Hero Motors IPO listed on 23 Sep 2026 on NSE,BSE at ₹82.00, a loss of 2.38% over the issue price of ₹84.00. The IPO was subscribed 7.01x overall.
Hero Motors IPO tentative timeline covering IPO opening, closing, basis of allotment, refunds, demat credit, and listing dates.
| Event | Date |
|---|---|
| IPO Open Date | 16 Sep 2026 |
| IPO Close Date | 18 Sep 2026 |
| Basis of Allotment | 21 Sep 2026 |
| Initiation of Refunds | 22 Sep 2026 |
| Credit of Shares to Demat | 22 Sep 2026 |
| Listing Date | 23 Sep 2026 |
Listing day gain
-2.38%
Listed at ₹82 (issue ₹84)
Issue
₹84
Listing
₹82
Current
₹98.4
+17.14% vs issue
Day range
₹80.5 – ₹98.4
Issue Size
119,047,618 shares
(aggregating up to ₹1,000.00 Cr)
Issue Price
₹79 – ₹84
Face Value
₹10/share
Market Lot
178 shares
Retail Min Investment
₹14,952
Listing At
NSE,BSE
Sale Type
both
Fresh Issue
71,428,571 shares
(aggregating up to ₹600 Cr)
Offer for Sale
47,619,047 shares
(aggregating up to ₹400 Cr)
Issue Type
book building
Open Date
16 Sep
Close Date
18 Sep
Allotment
21 Sep
Listing
23 Sep
Last updated: 1 week ago
| Date | IPO Issue Price (₹) | GMP (₹) | Est. Listing Price (₹) | Est. Profit Amount (₹) | Est. Profit % | Last Updated |
|---|---|---|---|---|---|---|
| 22 Sep 2026 Latest | ₹84 | ₹0 | ₹84 | ₹0 |
0%
|
8:47 PM |
| 22 Sep 2026 | ₹84 | ₹0 | ₹84 | ₹0 |
0%
|
8:17 PM |
Showing the 2 most recent GMP entries.
View full GMP historyLatest snapshot: 18 Sep 2026
| Category | Subscribed (x) |
|---|---|
| QIB | 1.59x |
| NII | 10.47x |
| bNII (bids above ₹10L) | 8.62x |
| sNII (bids below ₹10L) | 14.17x |
| Retail Investors | 8.62x |
| Total | 7.01x |
Showing the latest subscription snapshot.
View full subscription historyPankaj Munjal, Charu Munjal, Abhishek Munjal and O P Munjal Holdings are the promoters of the Company.
New to lot sizes and investment limits? Read our guide on IPO lot size and minimum investment.
| Category | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 1 | 178 | ₹14,952 |
| Retail (Max) | 13 | 2,314 | ₹194,376 |
| S-HNI (Min) | 14 | 2,492 | ₹209,328 |
| S-HNI (Max) | 66 | 11,748 | ₹986,832 |
| B-HNI (Min) | 67 | 11,926 | ₹1,001,784 |
Want to understand how IPO shares are divided between investor categories? Read our guide on IPO reservation structure.
| Category | Shares Offered |
|---|---|
| QIB Shares Offered | 59,523,809 (50.00%) |
|
•
Anchor Investor Shares Offered
|
35,714,284 (30.00%) |
|
•
QIB (Ex. Anchor) Shares Offered
|
23,809,525 (20.00%) |
| NII (HNI) Shares Offered | 17,857,143 (15.00%) |
|
•
sNII < ₹10L
|
5,952,381 (5.00%) |
|
•
bNII > ₹10L
|
11,904,762 (10.00%) |
| Retail Shares Offered | 41,666,666 (35.00%) |
| Total Shares Offered | 119,047,618 (100.00%) |
Not many people realise that the "Hero Motors" name actually belongs to two separate companies and confusing one for the other is easier than you'd think.
The first is Hero Motors Limited, a relatively under-the-radar auto components company based out of Dadri in Uttar Pradesh. Founded in 1998, it sits quietly in the background of India's two-wheeler industry, manufacturing gears and transmission systems that go inside motorcycles and ATVs. You won't find it on a showroom floor, but its parts likely power vehicles you've ridden. The company has about 1,600 employees and recently struck a joint venture with a German precision engineering firm, which says a lot about where it wants to go. It's also preparing for a stock market listing planning to use the IPO money to clear its debt and expand its UP manufacturing facility.
The second is Hero MotoCorp the name every Indian household knows. It's the world's largest two-wheeler manufacturer, born out of the original Hero Honda partnership that split in 2010. From the humble Splendor that became India's best-selling motorcycle to the premium Karizma and its Harley-Davidson collaboration, Hero MotoCorp has consistently stayed relevant across income groups and generations. With revenue crossing ₹42,000 crore in FY2025 and its electric scooter brand VIDA slowly gaining ground, the company is navigating the shift toward EVs without abandoning the mass-market petrol segment that built its empire.
Two companies, one powerful name and very different stories behind it.
Standalone · ₹ in Crores
| Particulars | FY Mar 2024 | FY Mar 2025 | FY Mar 2026 |
|---|---|---|---|
| Total Revenue | 1,083.42 | 1,111.23 | 1,216.74 |
| Profit After Tax (PAT) | 17.04 | 32.8 | 41.17 |
| EBITDA | 82.81 | 114 | 147.78 |
| Total Assets | 1,059.86 | 1,164.62 | 1,371.83 |
| Net Worth | 385.44 | 423.95 | 482.45 |
| Reserves & Surplus | 710.88 | 67.71 | 116.32 |
| Total Borrowing | 304 | 407.62 | 400.79 |
Revenue & Profit Trend
Key ratios per fiscal period
| Particulars | Mar 2026 |
|---|---|
| RoE Return on Equity Shows how much profit the company makes on the money shareholders have put in. 15% to 20% is healthy in most industries. | 8.56% |
| RoCE Return on Capital Employed Shows the profit earned on all the money used, shareholder funds plus loans. Matters most for factory and infrastructure heavy companies. | 19.77% |
| RoNW Return on Net Worth Shows the profit earned on the company's own net worth. Steady or rising over 3 years is a good sign. | 8.53% |
| PAT Margin Profit After Tax Margin Out of every ₹100 of sales, how much the company keeps after paying all costs, loan interest and tax. | 3.46% |
| EBITDA Margin Earnings Before Interest, Tax, Depreciation and Amortisation Margin Profit from the main business as a share of sales, before loan interest and tax. Compare it with other companies in the same industry. | 12.44% |
| Debt / Equity Debt to Equity How much the company has borrowed against what shareholders own. Above 1x means the loans are bigger than shareholder funds. | 0.83x |
| P/BV Price to Book Value Tells you if the IPO price is above what the company actually owns. 1x to 3x is usually seen as reasonable. | 6.6x |
Issue-level · at the upper price band
| Particulars | Pre-IPO | Post-IPO |
|---|---|---|
| EPS Earnings Per Share Profit the company earns on each share. Post-IPO EPS is usually lower because the issue adds new shares. | ₹1.08 | ₹0.91 |
| P/E Price to Earnings Tells you if the IPO price is fair for what the company earns. Compare it with listed companies in the same sector. | 77.78x | 92.31x |
| Market Cap Market Capitalisation What the whole company is valued at, at the upper price band. Post-IPO counts the new shares the issue creates. | ₹3,215 Cr | ₹3,815 Cr |
The basis of allotment for Hero Motors IPO was finalised on 21 Sep 2026. You can check your allotment status using your PAN number or application number on the KFin Technologies Limited portal or BSE.
The Hero Motors IPO is expected to open in Sep 2026, subject to SEBI approval. Final dates will be updated once announced officially.
The price band for Hero Motors IPO is ₹79.00 - ₹84.00 per share.
As per market sources, Hero Motors IPO GMP is currently ₹0.00. GMP is tracked daily in the grey market. GMP indicates unofficial demand but does not guarantee listing gains.
The subscription status for Hero Motors IPO stands at 7.01x overall.
The listing date for Hero Motors IPO is 23 Sep 2026.
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