Hero Motors IPO 2026 is a mainboard public issue of Hero Motors Limited, an automotive technology and auto-components company. The IPO is scheduled to open for subscription on September 16, 2026, and close on September 18, 2026. The company aims to raise ₹1,000 crore through a combination of a fresh issue and an offer for sale.
The IPO has a price band of ₹79 to ₹84 per share and a lot size of 178 shares. The shares are proposed to be listed on the BSE and NSE.
Hero Motors IPO Details
| Particulars | Details |
|---|---|
| IPO Name | Hero Motors IPO |
| IPO Type | Mainboard IPO |
| Issue Size | ₹1,000 Crore |
| Fresh Issue | ₹600 Crore |
| Offer for Sale | ₹400 Crore |
| Price Band | ₹79 – ₹84 per share |
| Face Value | ₹10 per share |
| IPO Open Date | September 16, 2026 |
| IPO Close Date | September 18, 2026 |
| Lot Size | 178 Shares |
| Minimum Investment | ₹14,952 |
| Listing | BSE & NSE |
| Basis of Allotment | September 21, 2026 |
| Share Credit/Refund | September 22, 2026 |
| Expected Listing Date | September 23, 2026 |
| Registrar | KFin Technologies |
| Lead Managers | ICICI Securities, DAM Capital Advisors & JM Financial |
Lot Size & Investment
| Category | Lot(s) | Qty | Amount | Reserved |
|---|---|---|---|---|
| Retail | 1 | 178 | 14952 | 234082 |
| sHNI | 14 | 2492 | 209328 | 2389 |
| bHNI | 67 | 11926 | 1001784 | 4777 |
Share Reservation
| Category | Shares Offered | % |
|---|---|---|
| Total | 119047618 | 100% |
| QIB | 59523809 | 50% |
| HNI | 17857143 | 15% |
| Retail | 41666666 | 35% |
Key Performance Indicators (KPI)
| KPI | Mar-26 | Mar-25 | Mar-24 |
|---|---|---|---|
| RONW | 8.53% | 7.74% | 4.42% |
| EPS (BASIC) | 1.15 | 0.67 | 0.36 |
| P/E Pre IPO | 73.04 | ||
| P/E Post IPO | 92.31 |
Company Financial (In ₹Crore)
| Period Ended | Mar-26 | Mar-25 | Mar-24 |
|---|---|---|---|
| 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 | 32.8 | 17.04 |
| EBITDA | 147.78 | 114 | 86.28 |
| NET Worth | 482.45 | 423.95 | 385.44 |
| Reserves and Surplus | 126.73 | 67.71 | 32.26 |
| Total Borrowing | 400.79 | 407.62 | 304 |
Peer Comparison (Valuation)
| Company | P/E (x) | CMP (₹) | Face Value (₹) |
|---|---|---|---|
| Hero Motors Limited | 73.04 | 84 | 10 |
| CIE Automotive India Limited | 17.68 | 383.55 | 10 |
| Endurance Technologies Limited | 40.84 | 2,763.20 | 10 |
| Sona BLW Precision Forgings Limited | 76.5 | 788 | 10 |
| UNO Minda Limited | 59.84 | 1,241.70 | 2 |
| Varroc Engineering Limited | 56.15 | 827.05 | 1 |
Source: RHP,Price/earnings ratio for the peer group has been computed based on the closing market price of equity shares on NSE as on September 7, 2026 divided by the diluted earnings per share for financial year ended March 31, 2026. Company P/E and CMP is based on upper price band of the issue.
Peer Comparision (Financial Performance)
| Company | NAV/Share (₹) | RoNW (%) | EPS (Basic) (₹) |
|---|---|---|---|
| Hero Motors Limited | 12.72 | 8.53% | 1.15 |
| CIE Automotive India Limited | 164.65 | 13.18% | 21.69 |
| Endurance Technologies Limited | 442.54 | 15.29% | 67.66 |
| Sona BLW Precision Forgings Limited | 93.93 | 10.77% | 10.3 |
| UNO Minda Limited | 113.77 | 19.59% | 20.78 |
| Varroc Engineering Limited | 80.45 | 18.70% | 14.73 |
About Company
Hero Motors Limited was incorporated as “Hero Briggs & Stratton Auto Private Limited” on April 30, 1998 under the Companies Act, 1956. It was subsequently converted into a deemed public company and renamed “Hero Briggs & Stratton Auto Limited” in August 1998. In 2001, following the termination of its joint venture with Briggs & Stratton International Inc. (USA), the Company was converted back into a private limited company and renamed “Hero Auto Private Limited”. It was later converted into a public limited company and renamed “Hero Auto Limited” in October 2003. In September 2004, its name was changed to “Hero Motors Limited” to reflect the nature of its business.
Hero Motors Limited is an innovation-driven manufacturer of automotive components and solutions, offering advanced technology and cost-effective products to leading global OEMs. The Company provides a wide range of products and end-to-end solutions across Gears & Transmission, Alloy & Metallic Parts and Bike Powertrain Systems, catering to the Motorcycle, Automotive, Off-Road and Electric Vehicle (EV) segments.
The Company has 1,000+ employees, 6 manufacturing units, 1.2 million sq. ft. of covered area and 2 R&D centres. As the automotive flagship company of the Hero Group, it operates advanced manufacturing facilities at strategic locations in India and Thailand.
The Company’s manufacturing capabilities are supported by collaborations with international technology leaders such as Hewland, along with German and Japanese technologies, advanced design and R&D capabilities and stringent quality-control processes. Its experienced workforce focuses on designing and delivering sophisticated, unique and reliable automotive products.
Strengths
Growing Presence in Electric Bikes & Premium Two-Wheelers: Expanded its presence across automotive segments and partnered with premium OEMs such as BMW, Ducati and a leading American two-wheeler OEM for complete powertrain solutions. Also has capabilities to provide end-to-end e-bike system solutions.
Strong Global OEM Relationships & Expertise: Serves a diverse global customer base across automotive and non-automotive sectors, including OEMs such as BMW, Ducati, Hero MotoCorp, B&S, Escorts and enviolo, along with motorsport and supercar applications.
Advanced & Geographically Diverse Infrastructure: Manufacturing and assembly facilities across India, the UK and Thailand enable the Company to remain close to customers and provide cost-competitive solutions for diverse markets.
Risk Factors
Dependence on Limited Suppliers: Reliance on a limited set of suppliers for critical raw materials and absence of definitive supply agreements with all suppliers may cause supply disruptions, production delays and higher costs, affecting business and financial performance.
Strict Customer Quality & Delivery Requirements: Failure to meet customers’ quality, measurement, tolerance and delivery requirements may result in product recalls, warranty/liability claims, repair or replacement costs, reduced business share or cancellation of orders.
Rapid Technological & Market Changes: The Company may not be able to respond quickly to changing automotive technologies and market trends or develop products aligned with customer demand, particularly with rapid advancements in EV and ICE technologies, which could adversely affect financial performance.
Conclusion
The Hero Motors IPO 2026 is a ₹1,000 crore mainboard IPO with a price band of ₹79–₹84 per share and a lot size of 178 shares. The issue is scheduled to open from September 16 to September 18, 2026, with a proposed BSE and NSE listing on September 23.
The company has a strong presence in automotive components and powertrain solutions, along with international customers and growing exposure to electric mobility. However, investors should carefully evaluate valuation, customer concentration, financial performance and other IPO risks before applying.
Hero Motors IPO FAQs
What is the Hero Motors IPO date?
The Hero Motors IPO is scheduled to open on September 16, 2026, and close on September 18, 2026.
What is the Hero Motors IPO price band?
The price band is ₹79 to ₹84 per share.
What is the Hero Motors IPO lot size?
The IPO lot size is 178 shares.
What is the minimum investment in Hero Motors IPO?
At the upper price band of ₹84, one lot of 178 shares requires ₹14,952.
What is the Hero Motors IPO issue size?
The total issue size is ₹1,000 crore, comprising a ₹600 crore fresh issue and ₹400 crore offer for sale.
Where will Hero Motors IPO be listed?
Hero Motors shares are proposed to be listed on the BSE and NSE.
What is Hero Motors IPO GMP today?
The latest available tracker was reporting a GMP of around ₹24, but grey-market premiums are unofficial and can change quickly.
When is Hero Motors IPO allotment?
The tentative allotment date is September 21, 2026, with share credit/refund expected on September 22.
When will Hero Motors IPO list?
The tentative listing date is September 23, 2026, on BSE and NSE.