Data shown is for informational purposes only and does not constitute investment advice. TopFund is not SEBI-registered. Consult a SEBI-registered advisor before investing.
Hero Motors IPO
Price Band
₹79.0–84.0
Issue Size
₹1000.0 Cr
Lot Size
178 shares
Min Investment
₹14,952
GMP
₹-3.0 (-3.57%)
Issue Price
₹84.0
Hero Motors IPO AI Summary
- Hero Motors IPO is listed on BSE, NSE in the Auto Components & Equipments sector.
- Price band: ₹79.0–₹84.0 per share, lot size 178 shares (min. investment ₹14,952).
- Subscription window: 16 Sep–18 Sep 2026, listing on 23 Sep 2026.
- Current GMP is ₹-3.0 (-3.57%), an estimated listing price of ₹81 — unofficial and can change daily.
TopFund is not SEBI-registered — this is educational analysis, not personalized investment advice.
Hero Motors IPO — Third-Party Research Views
Reviews below reflect analyst calls made before this IPO closed on 18 Sep 2026 — not a current signal.
Recommendations are sourced from third-party research firms and are not TopFund's own investment advice.
Important Dates
Subscription Status
Overall Subscription
7.01x
| Category | Subscription | Status |
|---|---|---|
| QIB (Institutional) |
1.59x
|
1.59x |
| NII (HNI) |
10.47x
|
10x ✓ |
| ↳ bNII (>₹10L) |
8.62x
|
8.62x |
| ↳ sNII (<₹10L) |
14.17x
|
14x ✓ |
| Retail (RII) |
8.62x
|
8.62x |
| Total | 7.01x | 7.01x |
Auto-updated every 5 min · As of 18th Sep 2026 16:07
Hero Motors IPO Grey Market Premium (GMP) Today
GMP
₹-3.0
GMP %
-3.57%
Est. Listing
₹81.0
Updated: 23 Sep 2026 07:30
GMP Trend (Last 13 Days)
About the Company
Hero Motors Limited is one of India's automotive technology companies, specializing in the design, development, manufacturing, and supply of highly engineered powertrain solutions for automotive original equipment manufacturers (OEMs) across the United States, Europe, India, and the ASEAN region. The company’s diverse product portfolio serves a wide range of mobility applications, including two-wheelers, performance automotive, e-bikes, off-road vehicles, electric and hybrid cars, heavy-duty vehicles, and electric vertical take-off and landing (eVTOL) aircraft. Hero Motor Limited supplies powertrain solutions to globally recognized brands such as BMW AG, Ducati Motor Holding S.P.A., Enviolo International Inc., Formula Motorsport Ltd., Hummingbird EV, HWA AG, and leading global electric bicycle (e-bike) manufacturers. The company’s expertise extends beyond automotive applications into aerospace and other mobility sectors. Hero Motor Limited operates through two key business segments: Powertrain Solutions – Integrated systems designed to propel vehicles by converting energy into motion. Alloys and Metallics (A&M) – Advanced materials used in EVs, internal combustion engine vehicles (ICEs), and hybrid vehicles, making them powertrain-neutral. As of March 31, 2024, Hero Motor Limited operated six manufacturing facilities strategically located across India, the United Kingdom, and Thailand to enhance customer proximity and cost efficiency. The company’s Samut Prakan, Thailand facility, which began operations in Fiscal 2024, caters specifically to the ASEAN market. Its Maidenhead, United Kingdom facility, equipped with design and prototyping capabilities, has enabled Hero Motor Limited to evolve into a complete systems manufacturer for the global automotive sector. In India, the company’s manufacturing units are located in Gautam Buddha Nagar, Uttar Pradesh, and Ludhiana, Punjab. Additionally, two technology centres operate in Southam, United Kingdom, and Gautam Buddha Nagar, Uttar Pradesh, reinforcing Hero Motor Limited’s commitment to innovation and technological excellence in the global automotive industry.
Company Financials (₹ Cr)
As of 2026-03-31
| Period Ended | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Assets | 1,371.83 | 1,164.62 | 1,059.86 |
| Total Income | 1,216.74 | 1,111.23 | 1,083.42 |
| Profit After Tax | 41.17 | 32.80 | 17.04 |
| EBITDA | 147.78 | 114.00 | 86.28 |
| NET Worth | 482.45 | 423.95 | 385.44 |
| Reserves and Surplus | 116.32 | 67.71 | 32.26 |
| Total Borrowing | 400.79 | 407.62 | 304.00 |
Key Ratios
EPS
₹1.08
NAV
₹12.72
ROE
8.56%
ROCE
19.77%
RoNW
8.53%
P/B Value
6.60
P/E Ratio
77.78
Market Cap
₹3815.41 Cr
PAT Margin
3.46%
Debt/Equity
0.83
Peer Comparison
| Company | NAV | RoNW | P/E (x) | EPS Basic | EPS Diluted |
|---|---|---|---|---|---|
| Varroc Engineering Ltd | 80.45 | 18.7% | 56.15 | 14.73 | 14.73 |
| Uno Minda Ltd | 113.77 | 19.59% | 59.84 | 20.78 | 20.78 |
| Sona Blw Precision Forgings Ltd | 93.93 | 10.77% | 76.5 | 10.3 | 10.3 |
| Endurance Technologies Ltd | 442.54 | 15.29% | 40.84 | 67.66 | 67.66 |
| Cie Automotive India Ltd | 164.65 | 13.18% | 17.68 | 21.69 | 21.69 |
| Hero Motors This IPO | 12.72 | 8.53% | — | 1.15 | 1.14 |
Promoters
Pankaj Munjal, Charu Munjal, Abhishek Munjal, O P Munjal Holdings
Objects of the Issue
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects: # Issue Objects Est Amt (₹ Cr.) 1 Repayment/prepayment/redemption, in full or in part, of certain outstanding borrowings availed by Company 190.00 2 Capital expenditure of Company through purchase of equipment for expansion in capacity of Gautam Buddha Nagar, Uttar Pradesh facility 200.00 3 Funding inorganic growth through unidentified acquisitions and other strategic initiatives and general corporate purposes( 171.99 4 Issue Expenses 60.25 Total 622.24
IPO Evaluation
Generated 26 Sep 2026Revenue Trend
Total Income was ₹1,083.42 Cr in the year ended 31 Mar 2024, slightly declining to ₹1,111.23 Cr by 31 Mar 2025, and further rising to ₹1,216.74 Cr by 31 Mar 2026. This shows a recovery trend in revenue over the last two years.
Profit Trend
Profit After Tax was ₹17.04 Cr for the year ending 31 Mar 2024, increasing to ₹32.80 Cr by 31 Mar 2025, and further rising to ₹41.17 Cr by 31 Mar 2026. This consistent growth in profit indicates improving profitability for the company.
Grey Market Premium, Explained
The Grey Market Premium (GMP) is an unofficial indicator of how much a stock is expected to list above or below its issue price. A positive GMP suggests strong demand, while a negative GMP indicates weaker demand. Investors often look at GMP to gauge market sentiment before the listing.
Subscription Demand
As of 18th September 2026, the IPO was subscribed 7.01 times overall. The breakdown shows that the Non-Institutional Investors (NII) category was particularly strong, with a subscription of 10.47 times, while Retail Investors (RII) subscribed 8.62 times. The Qualified Institutional Buyers (QIB) category was subscribed 1.59 times.
Who This IPO Suits
Investors comfortable with short-term volatility and a long-term horizon typically weigh IPOs like this against their investment goals and risk tolerance. It's essential to consider the company's fundamentals, market position, and growth potential before making a decision.
Who May Want to Wait
Conservative investors or those averse to high-risk investments may want to avoid IPOs like this, especially if they are uncertain about the company's future performance or the overall market conditions.
IPO Timeline, Explained
The IPO opens for subscription on 16th September 2026 and closes on 18th September 2026. Allotment of shares is expected to be finalized by 21st September 2026, with the listing date scheduled for 23rd September 2026.
Listing Gains — The Risk
Listing gains refer to the potential profit an investor can make when selling shares on the listing day. However, these gains are not guaranteed and can be affected by market conditions, investor sentiment, and the company's performance. Investors should be prepared for the possibility of losses as well.
This evaluation is generated from Hero Motors's own public IPO filing data for educational purposes and is not investment advice or a recommendation to apply, subscribe to, or avoid this issue — see Broker Recommendations below for named third-party research views (clearly attributed, not TopFund's own). TopFund is not a SEBI-registered investment adviser — see our Disclaimer.
Frequently Asked Questions
What is Hero Motors IPO GMP today?
Hero Motors IPO GMP today is ₹-3.0 (-3.57%), indicating an estimated listing price of ₹81. GMP is an unofficial grey-market indicator and can change daily.
What is the price band of Hero Motors IPO?
The price band of Hero Motors IPO is ₹79.0–₹84.0 per share.
When does Hero Motors IPO open and close?
Hero Motors IPO opens on 16 September 2026 and closes on 18 September 2026.
When does Hero Motors IPO list on the stock exchange?
Hero Motors IPO listed on 23 September 2026 at ₹81.0.
What is the lot size for Hero Motors IPO?
The lot size for Hero Motors IPO is 178 shares, requiring a minimum investment of ₹14,952.
What is the price band for the Hero Motors IPO?
The price band for the Hero Motors IPO is ₹79.0 to ₹84.0.
What is the minimum investment required?
The minimum investment required for the Hero Motors IPO is ₹14,952.
What is the lot size for this IPO?
The lot size for the Hero Motors IPO is 178 shares.
When is the listing date for the Hero Motors IPO?
The listing date for the Hero Motors IPO is 23rd September 2026.
What does GMP mean?
GMP stands for Grey Market Premium, which indicates the expected listing price of the shares in the grey market.
Issue Details
Investor Allocation
Registrar
Lead Managers / Book Running
IPO Timeline
Open
16 Sep 2026
Close
18 Sep 2026
Allotment
21 Sep 2026
Listing
23 Sep 2026
Similar IPOs in Auto Components & Equipments
Plan Your IPO Investment
Related Articles
Full Analysis
Should you apply? Company analysis, GMP explained & FAQs
Community Sentiment
What are other investors planning for Hero Motors?
No votes yet — be the first to share your view.
Sign in to voteDiscussion
User-generated content — not investment advice, and not verified or endorsed by TopFund.
No comments yet — start the discussion.