Hero Motors
Upcoming16–18 Sep 2026
Updated 2026-09-10 (IST)
What Hero Motors does
We are a fully integrated powertrain systems provider offering comprehensive solutions for designing, prototyping, validating, developing, and delivering system-level transmission solutions for electric as well as non-electric powertrains.
Hero Motors financials
Rs crore · AnnualLatest year highlighted in green. Sparklines show the trend.
| FY22 | FY23 | FY24 | ||
|---|---|---|---|---|
| Sales | 914 | 1,055 | 1,064 | |
| Operating Profit | 168 | 97 | 83 | |
| OPM % | 18.4% | 9.2% | 7.8% | |
| Net Profit | 99 | 41 | 17 | |
| Total Debt | 265 | 270 | 304 |
Hero Motors IPO offer structure
Total: ₹1,000 cr. Fresh issue proceeds go to the company; OFS proceeds go to selling shareholders.
Issue size and split come from a public aggregator rather than the exchange, cross-checked against a second one. The offer document states the offer-for-sale as a share count against a blank amount, so it cannot be read from the document itself.
Use of proceeds- Repayment/prepayment, in full or in part, of certain outstanding borrowings availed by our Company: ₹201 cr
- Capital expenditure of our Company through purchase of equipment required for expansion in capacity of our Gautam Buddha Nagar, Uttar Pradesh facility: ₹124 cr
- Funding working capital requirements of our Company: ₹50 cr
- General corporate purposes
Hero Motors promoters and holding
- Pankaj Munjal: Chairman, Non-Executive and Non-Independent Director
- Charu Munjal: Promoter
- Abhishek Munjal: Whole-time Director
- O P Munjal Holdings: Promoter
Hero Motors strengths and risks
Company-stated strengths and disclosed risk factors from the offer document.
- Among India’s Leading Solutions Provider to Global E-Mobility Industry backed by Diversified Product Portfolio (p.148)
- Growing Market Presence in the Electric Bikes and Premium Two-Wheelers Segments (p.148)
- Longstanding Relationships with Premier Global Original Equipment Manufacturers and Expertise in Delivering Solutions (p.148)
- Advanced Infrastructure with Geographically Diverse Operations (p.148)
- Strong Research and Development Capabilities and Long-Term Partnerships (p.149)
- We generate a portion of our revenue from operations from jurisdictions outside India, in particular, from Europe. (p.40)
- Our business is dependent on the performance of certain industries particularly e-bikes and two wheelers. (p.40)
- We depend on a certain limited set of suppliers for the supply of critical raw materials. (p.41)
- We are subject to strict performance requirements, including, but not limited to, quality and delivery, by our customers. (p.42)
- Our business largely depends upon our top 10 customers. (p.43)
Hero Motors peer comparison: DRHP median P/E 51.8x
DRHP data only| Company | CMP | P/E | OPM% | ROE% | Source |
|---|---|---|---|---|---|
| CIE Automotive India Limited | — | 17.9x | — | — | DRHP |
| Endurance Technologies Limited | — | 51.8x | — | — | DRHP |
| Sona BLW Precision Forgings Limited | — | 77.8x | — | — | DRHP |
| UNO Minda Limited | — | 75.3x | — | — | DRHP |
| Varroc Engineering Limited | — | 15.4x | — | — | DRHP |
P/E from offer document where live data unavailable. Not a fair-value judgement.
Hero Motors market and competition
We are one of India’s leading automotive technology companies engaged in designing, developing, manufacturing and supplying highly engineered powertrain solutions.
Hero Motors outlook, as the document states it
We intend to focus on lightweight alloy-based products for EVs, deepen relationships with premium motorcycle clients, and implement cost reduction processes to improve profitability.
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Hero Motors IPO: common questions
When does the Hero Motors IPO open and close?
The Hero Motors IPO is open from 16 Sep 2026 to 18 Sep 2026.
When are the Hero Motors IPO allotment and listing dates?
Not published yet. Derived from the close date on the usual timetable: allotment around 21 Sep 2026, refund/unblock around 22 Sep 2026 and listing around 23 Sep 2026. Treat these as estimates until the exchange confirms them.
How do I apply for the Hero Motors IPO?
Through any broker app or your bank's net banking, using a demat account and a PAN. You bid in lots at a price inside the band, or at cut-off. The money is blocked in your account, not debited, until allotment. One application per PAN. Bidding opens 16 Sep 2026. We do not recommend brokers and carry no broker links. How to apply, start to finish →
Sources & method
Subscription and issue data come from the NSE and BSE exchange feeds, with the third-party aggregator, clearly labelled, where an exchange feed is unreachable. DRHP analysis is extracted from the offer document itself, every figure cited to its page. Each figure on the page carries its source and its timestamp.
Grey-market premium (GMP) is unregulated.
Every GMP figure is a self-reported grey-market estimate. No exchange, regulator or clearing body records or audits it, and there is no settlement guarantee or recourse. Shown for context only; never decide on GMP alone. New to GMP? The 30-second explainer → Has GMP actually been right? →
How often do these actually open above the issue price?
Of the 505 mainboard IPOs that have listed on the NSE since 2003, 359 (71%) opened above their issue price, at a median of +10%. That is the segment's own record, not a forecast for this issue.