- Issue price
- ₹84per share
- Issue size
- ₹1,000 Cr11,90,47,618 shares
- Face value
- ₹10per equity share
- Lot size
- 178 sharesMin. ₹14,952 at the upper price
- OpensWed, 2026
- ClosesFri, 2026
- AllotmentMon, 2026
- ListingWed, 2026
Dates marked in the offer document as tentative. Times in IST.
Information only, not investment advice. This page provides information compiled from official offer documents for information purposes only. It is not investment advice or a recommendation to apply for, buy or sell any security. We are not a SEBI-registered investment adviser or research analyst. Investments in IPOs are subject to market risks; read the offer document carefully before investing.
Issue details
- Issue type
- Book built, fresh issue and offer for sale
- Fresh issue
- 7,14,28,571 shares (₹600 Cr)
- Offer for sale
- 4,76,19,047 shares (₹400 Cr)
- Total issue
- 11,90,47,618 shares (₹1,000 Cr)
- Face value
- ₹10
- Listing at
- NSE, BSE
- Promoter holding
- 72.60% → 50.90%
Source: ProspectusUpdated
Reservation
Share of the total issue- Retail35.0%
- Anchor30.0%
- QIB ex-anchor20.0%
- NII15.0%
| Category | Shares | Of net offer | Stated in RHP |
|---|---|---|---|
| Retail individual investors | 4,16,66,667 | 35.00% | 35% |
| Non-institutional investors (NII) | 1,78,57,143 | 15.00% | 15% |
| QIB, excluding anchor | 2,38,09,524 | 20.00% | — |
| Anchor investors | 3,57,14,284 | 30.00% | — |
Source: ProspectusUpdated
Lot size
Amounts at ₹84 per share| Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail individual investors | 1 | 178 | ₹14,952 |
Source: ProspectusUpdated
Subscription
Category-wise subscription is published by the exchanges while the issue is open. It appears here once the figures are added.
Valuation
FY 2025-26- EPS (basic)
- ₹1.15
- EPS (diluted)
- ₹1.14
- P/E (FY 2025-26 at Cap Price (diluted))
- 73.68×
- RoNW
- 8.53%
- NAV per share (At Cap Price)
- ₹23.83
- ROCE
- 19.77%
- EBITDA margin
- 12.44%
- PAT margin
- 3.46%
- Market cap (FY 2025-26 revenue multiple at Offer Price)
- 3.21×
Source: ProspectusUpdated
Financials
Consolidated, restated · ₹ crore| Period ended | 31 Mar 2026FY 2025-26 | 31 Mar 2025FY 2024-25 | 31 Mar 2024FY 2023-24 |
|---|---|---|---|
| Revenue from operations | 1,188.35 | 1,089.59 | 1,064.39 |
| Total income | 1,216.74 | 1,111.23 | 1,083.42 |
| EBITDA | 147.78 | 114.00 | 86.28 |
| Profit after tax | 41.17 | 32.80 | 17.04 |
| Net worth | 481.01 | 426.01 | 374.82 |
| Reserves and surplus | 116.32 | 67.71 | 32.26 |
| Total assets | 1,371.83 | 1,164.62 | 1,059.86 |
| Total borrowing | 400.79 | 407.62 | 304.00 |
FY 2025-26 vs FY 2024-25: revenue +9.1%, profit after tax +25.5%.
Source: ProspectusUpdated
About the company
The company designs, develops, manufactures and supplies powertrain solutions, including gears, transmissions and electric drive systems, along with sheet metal and alloy components. It serves two-wheeler, e-bike, motorsport and automotive OEMs across India, Europe, the US and ASEAN, with facilities in India, the UK and Thailand.
- Incorporated
- 1998
- Industry
- Automotive Powertrain and Components
- CIN
- U29299PB1998PLC039602
- Website
- heromotors.com
Source: ProspectusUpdated
Promoters and shareholders
| Name | Type | Before issue | After issue | Shares offered |
|---|---|---|---|---|
| O P Munjal Holdings | Promoter | 70.60% | 49.34% | 4,70,23,809 |
| Hero Cycles Limited | Promoter group | 2.00% | 1.56% | 5,95,238 |
Source: ProspectusUpdated
Objects of the issue
₹ crore| Purpose | Amount |
|---|---|
| Repayment or prepayment of certain outstanding borrowings | 190.00 |
| Capital expenditure for equipment to expand capacity at Gautam Buddha Nagar facility | 200.00 |
| Inorganic growth through unidentified acquisitions, strategic initiatives and general corporate purposes | 171.99 |
Source: ProspectusUpdated
Peer comparison
As listed in the offer document| Company | EPS | P/E | RoNW | NAV per share |
|---|---|---|---|---|
| CIE Automotive India Limited | ₹21.69 | 17.68× | 13.18% | ₹164.65 |
| Endurance Technologies Limited | ₹67.66 | 40.84× | 15.29% | ₹442.54 |
| Sona BLW Precision Forgings Limited | ₹10.3 | 76.50× | 10.77% | ₹93.93 |
| UNO Minda Limited | ₹20.78 | 59.84× | 19.59% | ₹113.77 |
| Varroc Engineering Limited | ₹14.73 | 56.15× | 18.70% | ₹80.45 |
| Hero Motors LimitedIssuer | ₹1.15 | — | 8.53% | ₹12.72 |
Source: ProspectusUpdated
Strengths and risks
Our summary of what the offer document statesStrengths
- Positioned as a leading supplier of e-mobility powertrain solutions, with design and validation capabilities.
- Diversified customer base across India and international OEMs in Europe and the US.
- Manufacturing footprint across India, the United Kingdom and Thailand.
- Sustained R&D spending as a share of revenue.
Risks
- About 41% of revenue comes from outside India, with Europe a major share, exposing it to foreign market risks.
- Revenue depends heavily on the two-wheeler, e-bike and motorsport industries.
- Relies on a limited set of suppliers for critical raw materials, some without long-term agreements.
- Significant borrowings and high receivable days affect liquidity.
- Some historical corporate records are untraceable, which may lead to legal or regulatory action.
Source: ProspectusUpdated
Documents
Contacts
Source: ProspectusUpdated
Allotment status
Check whether shares were allotted on the official pages below, using your PAN, application number or DP/client ID. Results appear once the basis of allotment is finalised.
- Allotment
- Refunds
- Demat credit
- Listing
Source: ProspectusUpdated
After listing
Listing price, day-one high and low, and the change from the issue price (₹84) appear here after the shares list on NSE and BSE.
Work out the gain or loss on allotted shares after charges and tax →
Frequently asked questions
When does the Hero Motors IPO open and close?
According to the Prospectus, the issue opens on Wednesday, 16 September 2026 and closes on Friday, 18 September 2026.
What is the Hero Motors IPO price band?
The final issue price is ₹84 per share.
What is the lot size of the Hero Motors IPO?
One lot is 178 shares, which is ₹14,952 at ₹84 per share.
Where will Hero Motors shares list?
On NSE and BSE. The tentative listing date is Wednesday, 23 September 2026.
Who is the registrar of the issue?
KFin Technologies Limited (SEBI registration INR000000221). Allotment status is checked on the registrar's website.
How do I check the Hero Motors IPO allotment status?
The basis of allotment is expected to be finalised on Monday, 21 September 2026. After that, search by PAN, application number or DP/client ID on the registrar's website (KFin Technologies Limited), the NSE website or the BSE website. Shares that are allotted are credited to your demat account; for an application that is not allotted, the blocked amount is released.
How will the money raised be used?
₹190 Cr for repayment or prepayment of certain outstanding borrowings, ₹200 Cr for capital expenditure for equipment to expand capacity at Gautam Buddha Nagar facility, ₹171.99 Cr for inorganic growth through unidentified acquisitions, strategic initiatives and general corporate purposes.
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Spotted something wrong?
Our data comes from official offer documents, but mistakes can slip through. Report an error and tell us which figure looks wrong and where you saw the correct one (the offer-document page number helps). For anything else, see Contact.