Hero Motors IPO 2026: Date, Price Band, GMP and Details

Dates, price band, lot size, financials and full details of the Hero Motors Limited IPO, sourced from the company's Red Herring Prospectus (RHP).

Hero Motors IPO at a glance

Hero Motors Limited is bringing a Book Built Mainboard IPO worth ₹1,000 crore. It is a mix of a fresh issue of shares worth ₹600 crore and an Offer for Sale (OFS) worth ₹400 crore. The IPO is open from 16 September to 18 September 2026 and is proposed to list on the BSE and the NSE.

Hero Motors IPO Details

Hero Motors IPO Timelines

Dates are tentative and may change.

Hero Motors IPO GMP

GMP stands for Grey Market Premium. It is the extra amount some traders are willing to pay for IPO shares in an informal market before listing, on top of the issue price. This market runs outside the stock exchanges, so the figure is unregulated, unverified, and can move sharply within a single day. A high GMP does not confirm a listing gain, and a low one does not rule it out, because it tracks short-term sentiment rather than the worth of the business. A steadier read on the IPO comes from the company's financials, how it plans to use the money, its valuation, and the risk factors set out in the Red Herring Prospectus (RHP).

About Hero Motors Limited

Incorporated in April 1998 (originally as Hero Briggs & Stratton Auto Private Limited), Hero Motors Limited designs, develops, and manufactures powertrain and transmission solutions for automotive original equipment manufacturers (OEMs) across India, the United States, Europe, and ASEAN markets. Its product portfolio includes continuously variable transmissions (CVTs), electric vehicle (EV) transmissions, electric motors, integrated drive units, and gear sets.

These products serve two-wheelers, e-bikes, off-road vehicles, electric and hybrid cars, heavy-duty vehicles, and eVTOL (electric vertical take-off and landing) applications. Its customers include global names such as BMW, Ducati, enviolo, and HWA, along with Indian OEMs. As of 31 March 2026, the company operated six manufacturing facilities across India, the United Kingdom, and Thailand, of which four are in India (three in Ludhiana, Punjab, and one in Gautam Buddha Nagar, Uttar Pradesh), including a facility for its joint venture with Yamaha Motors Japan.

The company's promoters are Pankaj Munjal, Charu Munjal, Abhishek Munjal, and O P Munjal Holdings.

What are the Key Strengths of Hero Motors (as stated in the RHP)

• Among India's leading solutions providers to the global e-mobility industry, backed by diversified product and service offerings.
• Growing market presence in the electric bikes and premium two-wheelers segments.
• Advanced infrastructure with geographically diverse operations.
• Strong research and development capabilities and long-term partnerships.
• Focus on providing complete systems and powertrain solutions for the e-mobility segment.

What the Money Will Be Used For

The IPO is a fresh issue of ₹600 crore and an Offer for Sale (OFS) of ₹400 crore. The OFS money goes to the selling shareholders, O P Munjal Holdings and Hero Cycles Limited. The company will use the money from the fresh issue for the following:

What are the Company Financials of Hero Motors

Restated consolidated figures, in ₹ crore.

2-Yr Compound Annual Growth Rate (CAGR) is calculated from FY 2024 to FY 2026.

Who Can Apply

The offer is split across investor categories as follows:

How to Apply for the Hero Motors IPO

You can apply online through your broker app or through your bank's net banking using the Application Supported by Blocked Amount (ASBA) facility.

1. Log in to your broker app or your bank's net banking.
2. Open the IPO section and select Hero Motors IPO.
3. Enter the number of lots and your bid price, or select the cut-off price.
4. Enter your Unified Payments Interface (UPI) ID, or confirm your bank account for the ASBA route.
5. Submit the application form.
6. Approve the mandate request in your UPI app to block the funds until allotment.

How to Check Allotment Status

The basis of allotment is expected to be finalised on 21 September 2026. Once it is out, you can check your allotment status in three ways. You will need your PAN, application number, or DP/Client ID.

• On the registrar's website, KFin Technologies, at the IPO status page.
• On the BSE or NSE website under the IPO allotment section.
• Inside your broker app, under orders or IPO history.

Key Risk Factors

The RHP lists several risk factors. A few of the key ones are summarised below. Please read the full RHP for the complete list.

• The business depends on the performance of certain industries, particularly e-bikes and two-wheelers, in both the Indian and overseas markets.
• It depends on a limited set of suppliers for the supply of critical raw materials.
• The business largely depends on its top 10 customers.
• Certain of its subsidiaries have suffered losses in the last three fiscals.
• It derives a portion of revenue from its material subsidiary, Hewland Engineering Limited, in the United Kingdom.
• The company, its subsidiaries, promoters, directors, and key managerial personnel are involved in certain legal and regulatory proceedings.
• It is subject to risks associated with expansion into new geographic regions.
• Its promoter is involved in group companies that can engage in a similar line of business, which may create conflicts of interest.
• It is exposed to counterparty credit risk, and any delay or non-receipt of payments may affect it.
• Certain properties, including its registered office and corporate office, are on leased premises.

Frequently Asked Questions (FAQs)

1. When does the Hero Motors IPO open and close?

The IPO opens on 16 September 2026 and closes on 18 September 2026.

2. What is the price band of the IPO?

The price band is ₹79 to ₹84 per share.

3. What is the lot size?

One lot is 178 shares. Applications are made in multiples of 178 shares.

4. What is the minimum investment for retail investors?

The minimum investment is ₹14,952 at the upper price band (1 lot of 178 shares).

5. When is the allotment date?

The allotment is expected to be finalised on 21 September 2026, with shares credited to demat accounts by 22 September 2026.

6. When is the listing date?

The shares are proposed to be listed on the BSE and the NSE on 23 September 2026 (tentative).

7. What does Hero Motors do?

It designs, develops, and manufactures powertrain and transmission solutions for automotive OEMs, including CVTs, EV transmissions, electric motors, integrated drive units, and gear sets, for two-wheelers, e-bikes, and electric vehicles.

8. What is the GMP of the Hero Motors IPO?

GMP, or Grey Market Premium, is an informal pre-listing price that sits outside the stock exchanges and is neither regulated nor verified. It shifts with day-to-day sentiment and does not confirm how the shares will list. A more reliable picture comes from the company's financials, valuation, and the risks in the RHP.

9. Who is the registrar for the IPO?

KFin Technologies Limited is the registrar. Allotment status can be checked on its website.

Read the full Red Herring Prospectus (RHP): View the official RHP filed with SEBI and the exchanges.

Disclaimer: This page is for informational purposes only and is not investment advice, a recommendation, or an offer to buy or sell any securities. All figures are sourced from the company's Red Herring Prospectus and public filings and may change. Investments in securities are subject to market risks. Please read all offer documents carefully and consult a registered financial advisor before making any investment decision.