Niva Market Watch

Hero Motors Limited IPO

listed · NSE · Bookbuilding IPO

Hero Motors Limited IPO was a ₹1,000 crore book-built issue on NSE with a price band of ₹79–₹84 per share, open for bidding from 16 Sep 2026 to 18 Sep 2026.

Last updated: · How we collect data

Company overview

Website
https://www.heromotors.com/

IPO overview

Hero Motors Limited raised ₹1,000 crore through a book-built issue, combining new shares issued by the company (a fresh issue) with shares sold by existing shareholders (an offer for sale).

Bids were accepted within a price band of ₹79–₹84 per share (face value ₹10); the final issue price is set within this band after bidding closes.

The shares listed on NSE on 23 Sep 2026.

ICICI Securities Ltd. was the book-running lead manager and Kfin Technologies Ltd. is the registrar, which processes applications, allotment and refunds.

Issue type
Bookbuilding IPO
Issue structure
Fresh capital cum OFS
Issue size
₹1,000 crore
Price
₹79–₹84 per share
Face value
₹10 per share
Exchange
NSE
Lead manager
ICICI Securities Ltd.
Registrar
Kfin Technologies Ltd.

IPO timeline

  1. Bidding opens 16 Sep 2026
  2. Bidding closes 18 Sep 2026
  3. Basis of allotment 21 Sep 2026
  4. Refunds / unblocking 22 Sep 2026
  5. Shares credited to demat 22 Sep 2026
  6. Listing 23 Sep 2026

Bidding ran from 16 Sep 2026 to 18 Sep 2026.

After bidding, the basis of allotment was due on 21 Sep 2026, refunds / unblocking of funds were due on 22 Sep 2026 and shares were due to be credited to demat accounts on 22 Sep 2026.

The shares listed on 23 Sep 2026.

Subscription summary

By the close of bidding, the issue was subscribed 6.66× overall (last figure recorded 18 Sep 2026).

By category: qualified institutional buyers (QIB) 1.49×, non-institutional investors (NII) 9.86× and retail investors 8.23×.

Recorded day by day: 16 Sep 1.48×, 17 Sep 3.58× and 18 Sep 6.66×.

Bids were received for 6.66× the shares available, so not every applicant in an oversubscribed category will receive shares.

CategorySubscribed (as of 18 Sep 2026)
QIB1.49×
NII9.86×
Retail8.23×
Overall6.66×

Grey market premium (unofficial)

The last grey market premium (GMP) we recorded for this issue was ₹-3 on 24 Sep 2026, equal to -3.6% of the upper price band.

Across 10 readings between 11 Sep 2026 and 24 Sep 2026, the quoted GMP ranged from ₹-3 to ₹24.

We do not yet record actual listing prices, so this page does not compare the GMP with where the shares opened.

  • GMP is unofficial: it is not published or verified by NSE, BSE or SEBI, changes quickly, and is not a forecast or guarantee of the listing price.

Allotment

The basis of allotment was due on 21 Sep 2026. Applicants can check their status using their PAN, application number or demat account details.

The registrar, Kfin Technologies Ltd., processes allotment; check status on its website or the exchange's application-status page.

Sources and data methodology

NSE & BSE public-issue data; Chittorgarh and InvestorGain (fill gaps only); InvestorGain live subscription report (third-party); InvestorGain grey market report (unofficial); Chittorgarh allotment calendar. Methodology · Report an error

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