Hero Motors IPO subscribed 1.38 times

The offer received bids for 12.26 crore shares as against 8.86 crore shares on offer.

The initial public offer of Hero Motors received bids for 12,26,40,042 shares as against 8,86,07,596 shares on offer, according to stock exchange data at 17:00 IST on 16 September 2026. The issue was subscribed 1.38 times.

The issue opened for bidding on 16 September 2026 and will close on 18 September 2026. The price band of the IPO is fixed between Rs 79 and 84 per share. An investor can bid for a minimum of 178 equity shares and multiples thereof.

The IPO comprises a fresh issue of equity shares worth up to Rs 600 crore and an offer aggregating up to Rs 400 crore by O P Munjal Holdings and Hero Cycle.

As of July 31, 2026, Hero Motors had total outstanding borrowings of Rs 289.54 crore. The company proposes to use Rs 190 crore from the fresh issue towards repayment/prepayment of certain outstanding borrowings, which should help reduce its debt burden. Another Rs 200 crore will be utilized for capital expenditure, primarily towards purchasing equipment required for capacity expansion at its Gautam Buddha Nagar, Uttar Pradesh, facility. The capex is expected to be deployed in phases through FY29. The remaining proceeds will be used to fund inorganic growth initiatives and for general corporate purposes.

The company is also setting up two additional manufacturing facilities in Ludhiana, Punjab and Bengaluru, Karnataka. Their post-IPO shareholding is expected to be around 61.63%.