Hero Motors IPO GMP today is Rs 6. Investors can use this GMP along with price band and subscription status for a better IPO review.
Listed
Mainboard IPO
HEROMOTORS
Hero Motors IPO GMP, Subscription & Allotment Status Today
Hero Motors Limited is a solution provider in the powertrain sector engaged in manufacturing and supplying a wide range of electrified and non-electrified powertrains along with alloy and metallic components. The company operates primarily through two distinct business segments, namely Powertrain Solutions and Alloys and Metallics, catering to two-wheelers, e-bikes, motorsport, and performance automotive industries. It generates revenue by selling specialized components, gears, transmissions, hubs, and metal assemblies directly to original equipment manufacturers operating across India, Europe, the United States, and other international markets. Supported by integrated design, research, and engineering capabilities, the company maintains manufacturing facilities and technology centers across India, the United Kingdom, and Thailand. Its operational specialization covers product design, prototyping, and large-scale manufacturing focused on delivering custom-engineered solutions to domestic and global automotive client bases.
- Price Band
- ₹79.00 - ₹84.00
- Lot Size
- 178 Shares
- Bidding Closes
- 18 Sept 2026
- Listing Date
- 23 Sept 2026
Current GMP Status
₹6
+7.14% vs upper band
Est. Listing Gain
-2.26%
Last Trend
18 Sept 2026
Listing Price
₹82.10
Retail Entry
₹14,952
IPO Details
Complete IPO information
| Current GMP | ₹6 |
|---|---|
| Estimated Listing Gain | -2.26% |
| Price Band | ₹79.00 - ₹84.00 |
| Issue Price | Approx ₹1000.00 Crores |
| Listing Price | ₹82.10 |
| Lot Size | 178 Shares |
| Issue Type | Mainboard |
| Registrar | TBA |
| Exchange | NSE, BSE |
| Retail Quota | TBA |
| Overall Subscription | 6.66x |
| Listing Date | 23 Sept 2026 |
| Minimum Investment | ₹14,952 |
Demand Tracker
Subscription Status
| Category | Shares Reserved | Shares Applied | Subscription (x) |
|---|---|---|---|
| QIB | 253.16 | 377.55 | 1.49x |
| NII | 189.87 | 1881.39 | 9.86x |
| Retail | 443.04 | 3648.31 | 8.23x |
| Overall Subscription | 886.08 | 5897.24 | 6.66x |
Head-to-head
Compare Hero Motors IPO with similar IPOs
Analysis
IPO Snapshot & Investor Takeaways
At the upper end of its price band, Hero Motors is priced at ₹84 per share. With a minimum lot size of 178 shares, a retail investor applying for one lot would need approximately ₹14,952 to participate in this Mainboard issue.
The latest recorded Grey Market Premium for Hero Motors stands at ₹6, implying an estimated listing gain of around 7.14% over the issue price if it holds until listing. This is down ₹10 from its previously recorded level. GMP reflects informal grey-market sentiment rather than a guaranteed outcome, and can change at any point until the day of listing.
As of the latest update, Hero Motors's IPO was subscribed 6.66x overall, with a category-wise breakdown of Retail 8.23x, QIB 1.49x, NII 9.86x.
Among the strengths highlighted in Hero Motors's IPO documents: Strong promoter backing with long-standing experience in the automotive sector.; Diversified portfolio across EV and ICE powertrain solutions and metal components..
Investors should also weigh the risk factors Hero Motors has disclosed, including: High revenue dependence on a limited number of key customers..
A share of Hero Motors's issue proceeds is earmarked for Capital Expenditure: 237 (29.63%).
Mainboard IPOs list on the main platform of BSE/NSE, typically involve larger issue sizes, and draw participation across retail, HNI and institutional (QIB) investor categories.
Timeline
IPO roadmap at a glance
✓
Bidding Opens
16 Sept 2026
✓
Bidding Closes
18 Sept 2026
✓
Allotment
21 Sept 2026
✓
Listing
23 Sept 2026
Grey Market Premium
Daily GMP status
| Date | GMP | Change | Gain |
|---|---|---|---|
| 18 Sept 2026 | ₹3.00 | -₹10.00 | 3.57% |
| 17 Sept 2026 | ₹13.00 | -₹6.00 | 15.48% |
| 16 Sept 2026 | ₹19.00 | +₹11.00 | 22.62% |
| 11 Sept 2026 | ₹8.00 | - | 9.52% |
Swipe to see more →
Market Lot
Application size breakdown
| Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail Minimum | 1 Lot | 178 | ₹14,952 |
| Retail Maximum | 13 Lot | 2,314 | ₹1,94,376 |
| S-HNI Minimum | 14 Lot | 2,492 | ₹2,09,328 |
| S-HNI Maximum | 66 Lot | 11,748 | ₹9,86,832 |
| B-HNI Minimum | 67 Lot | 11,926 | ₹10,01,784 |
Swipe to see more →
Fund Utilization
Objects of the Issue & Official Documents
- Capital Expenditure 237 (29.63%)
- Repayment Of Borrowings 285 (35.63%)
Issue Notes
Important takeaways before applying
Strengths
- Strong promoter backing with long-standing experience in the automotive sector.
- Diversified portfolio across EV and ICE powertrain solutions and metal components.
- Established relationships with global OEM customers.
- Integrated capabilities across design, engineering and manufacturing.
- Positioned to benefit from vehicle electrification and mobility trends.
Risks
- High revenue dependence on a limited number of key customers.
- Exposure to cyclical demand in the automotive industry.
- Significant reliance on international, especially European, markets.
- Vulnerability to raw material price volatility and supply disruptions.
- Execution risks in capacity expansion and EV transition strategy.
Analysis
Hero Motors IPO Details
Hero Motors IPO is scheduled to open on September 16, 2026, and close on September 18, 2026. The company is planning a ₹1,000 crore public issue, comprising a fresh issue of approximately ₹600 crores and an offer for sale component.
The IPO price band has been fixed at ₹79 to ₹84 per equity share, with a face value of ₹10 per share. The issue is structured as a book building issue and the shares are proposed to be listed on both BSE and NSE. Current reports also confirm the September 16–18 subscription window and ₹79–₹84 price band. :contentReference[oaicite:0]{index=0}
| Particular | Details |
|---|---|
| IPO Open Date | September 16, 2026 |
| IPO Close Date | September 18, 2026 |
| Face Value | ₹10 Per Equity Share |
| IPO Price Band | ₹79 to ₹84 Per Share |
| Issue Size | Approx ₹1,000 Crores |
| Fresh Issue | Approx ₹600 Crores |
| Offer for Sale | Approx 4,76,19,047 Equity Shares |
| Issue Type | Book Build Issue |
| IPO Listing | BSE & NSE |
| DRHP Draft Prospectus | |
| RHP Draft Prospectus |
Note: Hero Motors IPO details are based on the information provided above and the currently announced issue schedule. The final offer documents should be referred to for any subsequent changes.
Analysis
Hero Motors IPO Reservation
The Hero Motors IPO reservation is structured across qualified institutional buyers, non-institutional investors and retail investors. The issue reserves up to 50% of the offer for QIBs, while not less than 15% is available for NII investors and not less than 35% is reserved for retail investors.
The anchor investor portion is carved out of the QIB portion, with anchor bidding scheduled ahead of the public subscription period. The current reservation structure follows the allocation percentages specified in the IPO documents. :contentReference[oaicite:0]{index=0}
| Investor Category | Share Offered | -% Shares |
|---|---|---|
| Anchor Investor | – Shares | -% |
| QIB (Ex. Anchor) | – Shares | 50% |
| NII Shares Offered | – Shares | 15% |
| Retail Shares Offered | – Shares | 35% |
Note: The share quantities are currently shown as pending. The final category-wise allocation will be updated based on the applicable IPO documents and final issue structure.
Analysis
Hero Motors IPO Anchor Investors
Hero Motors IPO anchor investor bidding is scheduled for September 15, 2026, one day before the public issue opens. The anchor portion gives eligible institutional investors an opportunity to participate in the IPO ahead of the main subscription period.
The number of shares offered and the total anchor size are currently shown as pending. The final anchor allocation details can be updated once the company's anchor investor list and allocation information are released.
| Particular | Details |
|---|---|
| Anchor Bidding Date | September 15, 2026 |
| Shares Offered | [.] Shares |
| Anchor Size | [.] Cr. |
| Lock-in Period End Date 50% Shares (30 Days) | 2026 |
| Lock-in Period End Date 50% Shares (90 Days) | 2026 |
Note: Anchor investor figures are based on the current Hero Motors IPO information provided above and may be updated after the final anchor allocation is announced.
Analysis
Hero Motors IPO Dates
The Hero Motors IPO is scheduled to open on September 16, 2026, and close on September 18, 2026. The IPO allotment is expected to be finalized on September 21, followed by refunds and demat credit on September 22. The shares are scheduled to list on September 23, 2026.
Investors can track the IPO timeline from the subscription period through the allotment and listing stages. After the basis of allotment is finalized, successful applicants will receive the allotted shares in their demat accounts before the listing date.
| Particular | Details |
|---|---|
| IPO Open Date | September 16, 2026 |
| IPO Close Date | September 18, 2026 |
| Basis of Allotment | September 21, 2026 |
| Refunds | September 22, 2026 |
| Credit to Demat Account | September 22, 2026 |
| IPO Listing Date | September 23, 2026 |
Note: Hero Motors IPO dates are based on the current issue schedule provided above and may be updated if there are changes to the IPO timeline.
Analysis
Hero Motors Promoters and Holding Pattern
The promoters of Hero Motors are Pankaj Munjal, Charu Munjal, Abhishek Munjal and O P Munjal Holdings. The promoter and promoter group holding is expected to reduce after the IPO, while the proportion of shares held by other shareholders will increase.
The table below shows the shareholding pattern before and after the IPO, giving investors a clear view of the change in promoter ownership and the overall post-issue shareholding structure.
| Particular | Pre IPO Shares | Pre IPO % Shares | Post IPO Shares | Post IPO % Shares |
|---|---|---|---|---|
| Promoter and Promoter Group | 327,540,186 | 85.57% | 279,921,139 | 61.63% |
| Others* | 55,246,819 | 14.43% | 174,294,437 | 38.37% |
| Total | 382,787,005 | 100% | 454,215,576 | 100% |
Note: The holding pattern represents the pre-IPO and post-IPO shareholding structure provided for Hero Motors.
Analysis
Hero Motors Objects of the Issue & Utilisation of Proceeds
The Hero Motors IPO proceeds are planned to be used for a combination of debt reduction and capacity expansion. A significant portion is proposed for repayment or prepayment of certain outstanding borrowings, which can help strengthen the company's financial position.
Another major portion of the issue proceeds is planned for capital expenditure, including the purchase of equipment to expand capacity at the company's Gautam Buddha Nagar facility in Uttar Pradesh. The remaining proceeds are intended for potential inorganic growth, strategic initiatives and general corporate purposes.
| Purpose | Crores |
|---|---|
| Repayment/prepayment/redemption, in full or in part, of certain outstanding borrowings availed by our Company | ₹190.00 |
| Capital expenditure of our Company through purchase of equipment for expansion in capacity of our Gautam Buddha Nagar, Uttar Pradesh facility | ₹200.00 |
| Funding inorganic growth through unidentified acquisitions and other strategic initiatives and general corporate purposes | ₹- |
Note: The utilisation of IPO proceeds is based on the issue information provided for Hero Motors.
Analysis
Hero Motors About IPO
Hero Motors Limited is one of the leading companies in the case of design, development, and supply of advanced powertrain solutions to OEMs in the US, Europe, India, and ASEAN. The company offers a variety of products used in different types of vehicles, such as two-wheelers, e-bikes, high-performance cars, off-road vehicles, electric and hybrid cars, heavy-duty vehicles, and eVTOL aircraft.
The company is blessed with various products, as its products are deployed in various things such as bikes, e-bikes, cars, off-road and heavy vehicles, electric and hybrid models, and flying vehicles like eVTOLs. Hero Motor Limited has two main business areas: Powertrain Solutions, systems that help vehicles move by turning energy into motion. Alloys and Metallics, which are Special materials used in electric, fuel-based, and hybrid vehicles, are suitable for all types of powertrains.
Analysis
Hero Motors IPO Company Financial Report
Hero Motors has shown steady improvement in its financial performance over the reported periods. Revenue increased from ₹1,083.42 crores in 2024 to ₹1,216.74 crores in 2026, while the company's profit after tax also recorded consistent growth during the same period.
PAT increased from ₹17.04 crores in 2024 to ₹41.17 crores in 2026. The growth in revenue and profitability provides investors with a useful view of the company's financial progress ahead of the IPO. Total assets also increased over the three-year period.
| Period Ended | Revenue | Expense | PAT | Assets |
|---|---|---|---|---|
| 2024 | ₹1,083.42 | ₹1,059.12 | ₹17.04 | ₹1,059.86 |
| 2025 | ₹1,111.23 | ₹1,072.16 | ₹32.80 | ₹1,164.62 |
| 2026 | ₹1,216.74 | ₹1,153.78 | ₹41.17 | ₹1,371.83 |
Note: Amounts are in ₹ crores. Financial figures are based on the information provided for Hero Motors.
Analysis
Hero Motors IPO Valuation – FY2026
Hero Motors IPO valuation metrics provide an overview of the company's profitability, capital efficiency and asset value based on FY2026 financial performance. Key indicators include EPS, P/E ratio, ROE, ROCE, EBITDA margin, PAT margin, RoNW and NAV.
For FY2026, Hero Motors reported a basic EPS of ₹1.15 and a NAV of ₹12.72 per share. The company recorded an ROCE of 19.77% and an EBITDA margin of 12.44%, while its PAT margin stood at 3.46%. The P/E ratio is shown as N/A in the provided valuation data.
| KPI | Values |
|---|---|
| ROE | 8.56% |
| ROCE | 19.77% |
| EBITDA Margin | 12.44% |
| PAT Margin | 3.46% |
| Debt to Equity Ratio | – |
| Earning Per Share (EPS) | ₹1.15 (Basic) |
| Price/Earning P/E Ratio | N/A |
| Return on Net Worth (RoNW) | 8.53% |
| Net Asset Value (NAV) | ₹12.72 |
Note: FY2026 valuation figures are based on the Hero Motors IPO valuation data provided above. Prospectus-based sources report RoNW of 8.53%, ROCE of 19.77%, EBITDA margin of 12.44% and NAV of ₹12.72. :contentReference[oaicite:0]{index=0}
Analysis
Hero Motors IPO Peer Group Comparison
Hero Motors operates in the competitive automotive components and mobility solutions industry. The peer comparison below provides a view of the company's key valuation and profitability indicators against selected listed auto-component companies.
The comparison covers EPS, P/E ratio, return on net worth, NAV and income. Companies such as CIE Automotive India, Endurance Technologies and UNO Minda have larger income bases, while the peer valuations also show significant differences in earnings multiples and return metrics.
| Company | EPS | PE Ratio | RoNW % | NAV | Income |
|---|---|---|---|---|---|
| CIE Automotive India Limited | 21.69 | 17.68 | 13.18% | 164.65 | 9,406.47 Cr. |
| Endurance Technologies Limited | 67.66 | 40.84 | 15.29% | 442.54 | 14,595.88 Cr. |
| Sona BLW Precision Forgings Limited | 10.30 | 76.50 | 10.77% | 93.93 | 4,449.46 Cr. |
| UNO Minda Limited | 20.78 | 59.84 | 19.59% | 113.77 | 19,657.59 Cr. |
| Varroc Engineering Limited | 14.73 | 56.15 | 18.70% | 80.45 | 8,890.49 Cr. |
Note: Peer group figures are provided for comparison with Hero Motors and may vary based on the financial period and valuation methodology used.
Analysis
Hero Motors IPO Lead Managers aka Merchant Bankers
- ICICI Securities Limited
- Dam Capital Advisors Ltd
- Jm Financial Limited
FAQ
Hero Motors IPO FAQs
Hero Motors IPO price band is Rs 79.00 to Rs 84.00. Check the latest issue price, lot size and GMP together before applying.
Hero Motors IPO open date is 16 Sept 2026, close date is 18 Sept 2026, and listing date is 23 Sept 2026.
Hero Motors IPO lot size is 178 shares. The minimum retail investment is Rs 14,952.
Hero Motors is classified as a Mainboard IPO. This helps investors quickly understand the issue category and exchange segment.
Hero Motors IPO subscription status currently shows Retail 8.23x, QIB 1.49x, NII 9.86x, Overall 6.66x.
Hero Motors Limited is a solution provider in the powertrain sector engaged in manufacturing and supplying a wide range of electrified and non-electrified powertrains along with alloy and metallic components. The company operates primarily through two distinct business segments, namely Powertrain Solutions and Alloys and Metallics, catering to two-wheelers, e-bikes, motorsport, and performance automotive industries. It generates revenue by selling specialized components, gears, transmissions, hubs, and metal assemblies directly to original equipment manufacturers operating across India, Europe, the United States, and other international markets. Supported by integrated design, research, and engineering capabilities, the company maintains manufacturing facilities and technology centers across India, the United Kingdom, and Thailand. Its operational specialization covers product design, prototyping, and large-scale manufacturing focused on delivering custom-engineered solutions to domestic and global automotive client bases.
Hero Motors IPO issue size is 1200 and the expected allotment date is 21 Sept 2026.
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