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Hero Motors Limited IPO
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Latest GMP
- Lead Manager
- ICICI Securities Limited
- IPO Registrar
- KFin Technologies Limited
- IPO Open Date
- 16th Sep 2026
- IPO Close Date
- 18th Sep 2026
- Allotment date
- 21st Sep 2026
- Listing date
- 23rd Sep 2026
- Issue Size
- ₹ 1000 Cr.
- Issue Price Band
- ₹ 79 to 84
- Lot Size
- 178 Share
- Minimum Investment
- ₹ 14952
Disclaimer: IPO details, GMP, subscription figures, and other related information are for informational purposes only and may not always be accurate or up to date. Please verify the latest details from official sources before investing.
About Hero Motors Limited
Incorporated in April 1998, Hero Motors Limited is an automotive technology company engaged in designing, developing, manufacturing, and supplying engineered powertrain solutions to automotive original equipment manufacturers (OEMs) across the United States, Europe, India, and the ASEAN region.
The Company provides integrated solutions for both electric and non-electric powertrains, serving two-wheelers, performance automotive, e-bikes, off-road vehicles, electric and hybrid cars, heavy-duty vehicles, and eVTOL applications.
Solutions & Expertise
The Company offers system-level and component-level solutions covering designing, prototyping, validation, development, and delivery of powertrain systems. It is recognized for its expertise in continuously variable transmissions (CVT), EV transmissions, electric motors, integrated drive units, and gear sets.
The Company also has a first-mover position in the global e-bike powertrain market and is the only manufacturer in India producing and exporting CVT hubs and integrated electric powertrain products for e-bikes.
Business Segments
The Company's operations are divided into:
Powertrain Solutions
- Gears and Transmissions (G&T): Serving automotive and mobility applications
- Bike Powertrain (BPT): Focused on micro-mobility applications and global e-bike manufacturers
Alloys and Metallics (A&M)
Provides sheet metal and tubular assemblies and components primarily to automotive OEMs.
Customer Base
The Company has established relationships with global customers including BMW, Ducati, enviolo, Formula Motorsport, Hummingbird EV, and HWA, along with leading global e-bike manufacturers. It focuses on technology and innovation through in-house design and engineering capabilities and partnerships with global technology players.
Workforce
As of March 31, 2026, the Company had 1,388 permanent employees and 707 contract labourers.
Competitive Strengths
- Strong R&D and engineering capabilities
- Long-term relationships with global OEMs
- Strong presence in the global e-mobility industry
- Diversified powertrain product and service offerings
- Experienced management and strong corporate governance
- Growing presence in electric bikes and premium two-wheelers
IPO Subscription Details
| Category | Shares Offered | Shares Applied | Subscription Times (x) |
|---|---|---|---|
| QIB (Ex Anchor) | 2,53,16,456 (28.57%) | 3,77,55,046 | 1.49 |
| NII | 1,89,87,342 (21.43%) | 18,71,38,520 | 9.86 |
| bNII (> ₹10L) | 1,26,58,228 (14.29%) | 10,26,02,048 | 8.11 |
| sNII (< ₹10L) | 63,29,114 (7.14%) | 8,45,36,472 | 13.36 |
| Retail | 4,43,03,798 (50.00%) | 36,48,33,072 | 8.23 |
| Total | 8,86,07,596 (100.00%) | 58,97,26,638 | 6.66 |
Grey Market Premium (GMP)
| GMP Date | IPO Price | GMP | Estimated Listing Price | Estimated Profit* | Last Updated |
|---|---|---|---|---|---|
| 22-09-2026 | ₹84 | ₹2 | ₹86 ( 2.38% ) | ₹356.00 | 22-Sep-2026 10:39 AM |
| 21-09-2026 | ₹84 | ₹2 | ₹86 ( 2.38% ) | ₹356.00 | 21-Sep-2026 10:35 AM |
| 19-09-2026 | ₹84 | ₹0 | ₹84 ( 0.00% ) | ₹0.00 | 19-Sep-2026 10:39 AM |
| 18-09-2026 | ₹84 | ₹5.5 | ₹89.5 ( 6.55% ) | ₹979.00 | 18-Sep-2026 10:05 AM |
| 17-09-2026 | ₹84 | ₹13 | ₹97 ( 15.48% ) | ₹2,314.00 | 17-Sep-2026 10:11 AM |
| 16-09-2026 | ₹84 | ₹12 | ₹96 ( 14.29% ) | ₹2,136.00 | 16-Sep-2026 03:04 PM |
Financials of Hero Motors Limited
A quick overview of the key Financial Performance of Hero Motors Limited.
Total Assets (₹ Cr)
Revenue (₹ Cr)
Profit after Tax (₹ Cr)
*All values are in Rs. Cr
Company Financials
Revenue increased by 9%, Profit after Tax (PAT) increased by 26%, Total Assets increased by 18% between FY2025 and FY2026.
| Period Ended | FY2024 | FY2025 | FY2026 |
|---|---|---|---|
| Revenue | 1,064.39 | 1,089.59 | 1,188.35 |
| Assets | 1,059.86 | 1,164.62 | 1,371.83 |
| Total Income | 1,083.42 | 1,111.23 | 1,216.74 |
| Profit After Tax | 17.04 | 32.80 | 41.17 |
| EBITDA | 86.28 | 114.00 | 147.78 |
| Net Worth | |||
| Reserves & Surplus | 32.26 | 67.71 | 116.32 |
| Total Borrowings | 304.00 | 407.62 | 400.79 |
IPO Lot Size
Application
Lots
Shares
Amount
Retail (Min)
1
178
₹ 14,952
Retail (Max)
13
2,314
₹ 1,94,376
S-HNI (Min)
14
2,492
₹ 2,09,328
S-HNI (Max)
66
11,748
₹ 9,86,832
B-HNI (Min)
67
11,926
₹ 10,01,784
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 178 | ₹ 14,952 |
| Retail (Max) | 13 | 2,314 | ₹ 1,94,376 |
| S-HNI (Min) | 14 | 2,492 | ₹ 2,09,328 |
| S-HNI (Max) | 66 | 11,748 | ₹ 9,86,832 |
| B-HNI (Min) | 67 | 11,926 | ₹ 10,01,784 |
Key Performance Indicators (KPI)
| KPI | Latest |
|---|---|
| ROE (%) | 8.56 |
| ROCE (%) | 19.77 |
| RoNW (%) | 8.53 |
| PAT Margin (%) | 3.46 |
| EBITDA Margin (%) | 12.44 |
|
Pre IPO
Post IPO
|
|
| EPS (₹) |
1.14
-
|
| P/E (x) |
-
-
|
| Promoter Holding (%) |
73.45
-
|
| Market Cap | 3125 |
IPO Lead Manager(s)
Lead Manager Details
- ICICI Securities Limited
- Contact Person: Namrata Ravasia
- SEBI Registration Number: INM000011179
- Investor Grievance Email: customercare@icicisecurities.com
- Website: https://www.icicisecurities.com
- Email: heromotors.ipo@icicisecurities.com
- Phone: +91 22 6807 7100
- Address: ICICI Venture House, Appasaheb Marathe Marg, Prabhadevi, Mumbai – 400 025, Maharashtra, India
Lead Manager Details
- JM Financial Limited
- Contact Person: Prachee Dhuri
- SEBI Registration Number: INM000010361
- Investor Grievance Email: grievance.ibd@jmfl.com
- Website: https://www.jmfl.com
- Email: heromotors.ipo@jmfl.com
- Phone: +91 22 6630 3030
- Address: 7th Floor, Cnergy, Appasaheb Marathe Marg, Prabhadevi, Mumbai 400 025, Maharashtra, India
Lead Manager Details
- DAM Capital Advisors Limited
- Contact Person: Puneet Agnihotri / Chandresh Sharma
- SEBI Registration Number: INM000011336
- Investor Grievance Email: complaint@damcapital.in
- Website: https://www.damcapital.in
- Email: hml.ipo@damcapital.in
- Phone: +91 22 4202 2500
- Address: Altimus 2202, Level 22, Pandurang Budhkar Marg, Worli, Mumbai 400018, Maharashtra, India
IPO Registrar
- Registrar Name
- KFin Technologies Limited
- Phone
- +91 40 6716 2222
- Contact Person
- M. Murali Krishna
- SEBI Registration Number
- INR000000221
- Address
- Registered Office: 301, The Centrium, 3rd Floor, 57, Lal Bahadur Shastri Road, Nav Pada, Kurla (West), Mumbai - 400070, Maharashtra, India; Corporate Office: Selenium Tower-B, Plot 31 & 32, Gachibowli, Financial District, Nanakramguda, Serilingampally, Hyderabad - 500032, Telangana, India
- Website
- https://www.kfintech.com/
Company Contact Details
- Company Name
- Hero Motors Limited
- Phone
- +91 120 4412 000
- Contact Person
- Sakshi Dureja
- Corporate Identity Number
- U29299PB1998PLC039602
- Address
- Hero Nagar, GT Road, Ludhiana, Punjab – 141 003, India
- Website
- https://www.heromotors.com/
Hero Motors Limited FAQs
