Hero Motors’ Rs 1,000 Cr IPO to open on September 16; price band fixed at Rs 79–84 per share

Hero Motors has set a price band of Rs 79 to Rs 84 per equity share for its Rs 1,000 crore initial public offering, per YourStory. The IPO will open for subscription on September 16, 2026 and close on September 18.

The offering comprises a fresh issue of equity shares worth up to Rs 600 crore and an offer-for-sale of shares worth up to Rs 400 crore by promoters O P Munjal Holdings and Hero Cycles. Each equity share has a face value of Rs 10, with investors able to bid for a minimum of 178 shares and in multiples of 178 thereafter. ICICI Securities, DAM Capital Advisors and JM Financial are serving as book-running lead managers, while KFin Technologies is the registrar. The IPO will follow standard book-building allocations: up to 50% for qualified institutional buyers, at least 15% for non-institutional investors, and not less than 35% for retail investors.

From the fresh issue proceeds, Rs 190 crore will fund repayment or redemption of outstanding borrowings, and Rs 200 crore will support capital expenditure including equipment purchases for capacity expansion at the company's facility in Gautam Buddha Nagar, Uttar Pradesh. Additional proceeds will be used for acquisitions and other strategic initiatives, as well as general corporate purposes.

Hero Motors designs and manufactures integrated powertrain solutions for electric and non-electric powertrains, serving customers across two-wheelers, performance automobiles, e-bikes, off-road vehicles, electric and hybrid cars, heavy-duty vehicles and electric vertical take-off and landing applications. Its global customer base includes BMW, Ducati, Enviolo, Formula Motorsport, Hummingbird EV and HWA, along with manufacturers in aerospace and other mobility segments. The company filed its draft red herring prospectus with SEBI in June 2025 and received approval in September 2025.