The Initial Public Offering (IPO) of Hero Motors is scheduled to open for subscription on Wednesday, September 16, 2026, and will close on Friday, September 18. The company has set the price range for one share between 79 and 84 rupees, with a face value of 10 rupees.
The IPO comprises two components: a fresh equity issue worth up to 600 crore rupees and an Offer for Sale (OFS) of shares worth up to 400 crore rupees from promoters O P Munjal Holdings and Hero Cycles. Investors can apply for a minimum of 178 shares, as well as multiples of 178 shares.
The funds raised from the fresh issue will be used to repay, prepay, or buy back certain existing borrowings amounting to 190 crore rupees. Additionally, 200 crore rupees will be allocated for capital expenditures, including the acquisition of equipment to expand the company's production capacity in Ghutam Buddha Nagar, Uttar Pradesh state.
A portion of the proceeds will also be used to finance inorganic growth through acquisitions and other strategic initiatives, as well as for general corporate purposes.
The IPO process is managed by lead managers ICICI Securities, DAM Capital Advisors, and JM Financial, with KFin Technologies acting as the registrar. The offering will proceed via a book-building process, with up to 50% of the net offer reserved for qualified institutional buyers, no less than 15% for non-institutional investors, and no less than 35% for retail investors.
Hero Motors offers comprehensive solutions for power units, covering the design, prototyping, validation, development, and supply of system and component solutions for both electric and non-electric power plants. The company's product portfolio targets various modes of mobility, including two-wheelers, sports cars, e-bikes, SUVs, electric and hybrid vehicles, heavy machinery, and electric vertical take-off and landing applications.
The company's global client base includes brands such as BMW, Ducati, Enviolo, Formula Motorsport, Hummingbird EV, and HWA, as well as global manufacturers and clients of e-bikes in aerospace and other mobility segments. The IPO process was initiated by the company by filing a draft red herring prospectus with SEBI in June 2025, after which approval was received in September 2025.