Hero Motors Limited IPO
Open now16–18 Sep 2026
Latest update:
GMP +19.0% (₹16) · Price band ₹79–₹84 · Closes 18 Sep 2026 · Allotment 21 Sep 2026 (Confirmed) · Lists 23 Sep 2026 (Expected)
What Hero Motors Limited does
We are one of India’s leading automotive technology companies engaged in designing, developing, manufacturing and supplying highly engineered powertrain solutions catering to automotive original equipment manufacturers (“OEMs”) in United States, Europe, India and the Association of Southeast Asian Nations (“ASEAN”) region.
Hero Motors Limited financials
Rs crore · AnnualLatest year highlighted in green. Sparklines show the trend.
| FY24 | FY25 | FY26 | ||
|---|---|---|---|---|
| Sales | 1,064 | 1,090 | 1,188 | |
| Operating Profit | 86 | 114 | 148 | |
| OPM % | 8.1% | 10.5% | 12.4% | |
| Net Profit | 17 | 33 | 41 | |
| Total Debt | 334 | 432 | 471 |
Hero Motors Limited 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/redemption, in full or in part, of certain outstanding borrowings availed by our Company: ₹190 cr
- Capital expenditure of our Company through purchase of equipment required for expansion in capacity of our Gautam Buddha Nagar, Uttar Pradesh facility: ₹200 cr
- Funding inorganic growth through unidentified acquisitions and other strategic initiatives and general corporate purposes
Hero Motors Limited 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 Limited 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 and Service Offerings (p.260)
- Growing Market Presence in the Electric-Bikes and Premium Two-Wheelers Segments (p.260)
- Longstanding Relationships with Premier Global Original Equipment Manufacturers and Expertise in Delivering Solutions (p.260)
- Advanced Infrastructure with Geographically Diverse Operations (p.260)
- Strong Research and Development Capabilities and Long-Term Partnerships (p.260)
- We generate a portion of our revenue from operations from jurisdictions outside India, in particular, from Europe. (p.21)
- Our business is dependent on the performance of certain industries particularly e-bikes and two wheelers. (p.22)
- We depend on a certain limited set of suppliers for the supply of critical raw materials. (p.23)
- We are subject to strict performance requirements, including, but not limited to, quality and delivery, by our customers. (p.23)
- Our business largely depends upon our top 10 customers. (p.24)
Hero Motors Limited peer comparison: DRHP median P/E 56.1x
Live BSE prices| Company | CMP | P/E | OPM% | ROE% | Source |
|---|---|---|---|---|---|
| CIE Automotive India Limited | Rs 374.7 -1.3% | 15.7x | 18.1% | 12.3% | live |
| Endurance Technologies Limited | Rs 2,615.8 -3.0% | 37.9x | 11.2% | 19.0% | live |
| Sona BLW Precision Forgings Limited | Rs 792 +0.4% | 71.8x | 30.2% | 14.5% | live |
| UNO Minda Limited | Rs 1,161.5 -3.4% | 52.0x | 11.4% | 22.9% | live |
| Varroc Engineering Limited | Rs 837.65 -3.9% | 64.0x | 9.7% | 30.8% | live |
P/E from offer document where live data unavailable. Not a fair-value judgement.
Hero Motors Limited market and competition
We are one of India’s leading automotive technology companies engaged in designing, developing, manufacturing and supplying highly engineered powertrain solutions. We are the only player manufacturing and exporting CVT hubs to global e-bike OEMs from India.
Hero Motors Limited outlook, as the document states it
We intend to focus on providing complete systems and powertrain solutions for the e-mobility segment, expanding into other market segments and geographies, and leveraging Hewland's expertise for design-to-cost product and service solutions.
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Hero Motors Limited IPO: common questions
What is the Hero Motors Limited IPO GMP (grey-market premium) today?
As of 16 Sep 2026 the indicative grey-market premium (GMP) for the Hero Motors Limited IPO is +19.0% from a single grey-market source. GMP is unregulated and self-reported, so treat it as a sentiment signal, never a guarantee. For context, across the 19 IPOs we have tracked from a pre-listing GMP quote through to the actual listing, grey-market premium pointed the right way 79% of the time. Never decide on GMP alone.
When does the Hero Motors Limited IPO open and close?
The Hero Motors Limited IPO is open from 16 Sep 2026 to 18 Sep 2026.
What is the Hero Motors Limited IPO price band?
The price band is ₹79–₹84 per share.
What is the lot size and minimum investment for the Hero Motors Limited IPO?
One lot is 178 shares, and a retail application must be at least one lot. That is about ₹14,952 at the upper end of the band. An HNI application starts above Rs 2 lakh, so the minimum is higher for that category.
When are the Hero Motors Limited 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 Limited 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. 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.