Hero Motors IPO GMP Today: Price, Lot Size, Subscription, Allotment and Listing Date
The Hero Motors IPO has entered its second day of subscription, attracting strong interest from investors following a fully subscribed opening session. The ₹1,000-crore public issue of Hero Motors Limited opened on September 16, 2026, and will remain available for bidding until September 18.
The Hero Motors IPO price band has been fixed at ₹79 to ₹84 per equity share, while the IPO lot size is 178 shares. At the upper price band, retail investors need a minimum investment of ₹14,952 for one lot.
Meanwhile, the Hero Motors IPO GMP today is being closely tracked in the grey market. As of September 17, reports put the premium at around ₹13 per share, equivalent to an implied premium of roughly 15.5% over the upper issue price. Since GMP is unofficial and can change rapidly, it should not be treated as a guaranteed listing price.
Hero Motors IPO GMP Today
The latest Hero Motors IPO GMP is around ₹13 per share on September 17, according to market reports.
With the IPO’s upper price band fixed at ₹84, the calculation based on this GMP would be:
₹84 + ₹13 = ₹97
This gives an indicative grey-market value of approximately ₹97 per share.
The implied premium works out to:
₹13 ÷ ₹84 × 100 = 15.48%
However, this is only a grey-market indication. GMP is not an official exchange price and does not guarantee that Hero Motors shares will list at ₹97.
The GMP has also moved during the IPO period. Reports had indicated a premium of around ₹19 shortly after the issue opened, while the latest reports on September 17 show the premium closer to ₹13. This highlights how quickly grey-market sentiment can change.
Hero Motors IPO Subscription Status
The IPO received a strong response on its first day.
According to exchange data reported by Reuters, the Hero Motors IPO was fully subscribed on September 16, the first day of bidding. Retail investors were a major contributor to the demand.
By September 17, the issue had moved further into oversubscription. Moneycontrol reported that the IPO had received 2.26 times subscription by 11:50 AM on September 17, with bids for more than 20 crore shares against approximately 8.86 crore shares on offer.
The category-wise response at that point showed:
| Category | Subscription |
|---|---|
| Retail | 3.57x |
| NII | 2.20x |
| Overall | 2.26x |
These figures can continue to change throughout the second and final day of bidding.
Hero Motors IPO Price Band
The company has fixed the Hero Motors IPO price band at ₹79-₹84 per share.
The issue size is approximately ₹1,000 crore, consisting of a fresh issue and an Offer for Sale.
The IPO structure includes:
- Fresh issue: Up to ₹600 crore
- Offer for Sale: Up to ₹400 crore
- Price band: ₹79-₹84
- Face value: ₹2 per share
- Lot size: 178 shares
- Minimum investment: ₹14,952 at the upper band
The IPO is being managed by ICICI Securities, DAM Capital Advisors and JM Financial as book-running lead managers. Hero Motors has published its Red Herring Prospectus and other offer documents on its official investor-relations website.
Hero Motors IPO Lot Size and Minimum Investment
The Hero Motors IPO lot size is 178 shares.
At the upper price band of ₹84, the minimum investment is:
178 × ₹84 = ₹14,952
At the lower price band of ₹79, the value of one lot would be:
178 × ₹79 = ₹14,062
Retail investors can apply for shares in multiples of the specified lot size, subject to the applicable IPO investment limits.
The ₹14,952 figure is therefore the amount required for one lot when bidding at the upper end of the price band.
Hero Motors IPO Important Dates
The Hero Motors public issue opened on September 16 and will close on September 18, 2026.
| IPO Event | Date |
|---|---|
| IPO Opens | September 16, 2026 |
| IPO Closes | September 18, 2026 |
| Allotment | September 21, 2026 |
| Refund Initiation | September 22, 2026 |
| Share Credit | September 22, 2026 |
| Expected Listing | September 23, 2026 |
| Price Band | ₹79-₹84 |
| Lot Size | 178 Shares |
| Issue Size | ₹1,000 Crore |
The proposed listing is scheduled for September 23, 2026, subject to the completion of the standard IPO process.
Hero Motors IPO: Where Will the Money Be Used?
The fresh issue component of the IPO is intended to strengthen the company’s balance sheet and support expansion.
Hero Motors plans to use around ₹190 crore from the fresh issue for repayment, prepayment or redemption of certain outstanding borrowings.
Another ₹200 crore has been earmarked for capital expenditure, including equipment purchases for capacity expansion at its manufacturing facility in Gautam Buddha Nagar, Uttar Pradesh. The remaining proceeds are proposed to support potential inorganic growth, including acquisitions that had not yet been identified at the time of the offering, as well as general corporate purposes.
This makes debt reduction and manufacturing capacity expansion two important components of the IPO’s use of proceeds.
What Does Hero Motors Do?
Hero Motors Limited is an automotive technology company involved in designing, developing and manufacturing powertrain solutions.
The company supplies products to original equipment manufacturers across markets including India, Europe, the United States and ASEAN. Its portfolio covers both electric and non-electric applications.
Hero Motors’ products serve multiple vehicle categories, including two-wheelers, e-bikes, passenger vehicles, commercial vehicles, off-road vehicles and other specialised applications.
The company operates manufacturing facilities across India as well as international locations, including the United Kingdom and Thailand.
Its customer base includes several established automotive names, with reports identifying companies such as BMW and Ducati among its customers.
Hero Motors Financial Performance
Hero Motors has reported improvement in its recent financial performance.
According to market reports based on company financial information, Hero Motors recorded a profit of ₹43.6 crore in FY2026, compared with ₹25.2 crore in FY2025.
Revenue from operations increased to approximately ₹1,188.4 crore in FY2026, compared with ₹1,089.6 crore in the previous financial year.
The company therefore enters the IPO with a recent period of revenue and profit growth, although investors still need to consider its valuation, debt, industry conditions and future business risks.
Hero Motors IPO GMP Trend
The GMP has shown considerable movement before and during the IPO.
Reports from September 16 indicated a premium of around ₹19, while the latest September 17 reports put it at approximately ₹13.
This means the grey-market premium has moderated.
A GMP of ₹13 against the ₹84 upper price band implies an indicative value of ₹97. But this calculation should only be viewed as an unofficial market signal.
Grey-market transactions are outside the formal stock-exchange mechanism, and the GMP can rise or fall before listing.
Hero Motors IPO Anchor Investors
Before the public issue opened, Hero Motors raised approximately ₹300 crore from anchor investors.
The company allotted about 3.57 crore equity shares to anchor investors at ₹84 per share, which was the upper end of the IPO price band.
Anchor participation is generally disclosed before the public subscription period and provides information about institutional participation in an IPO. It does not, however, guarantee how the stock will perform after listing.
Hero Motors IPO Listing Price
The possible listing price is being estimated by market participants using the GMP.
With a GMP of ₹13 and an upper IPO price of ₹84:
Indicative GMP-based price = ₹97
The corresponding implied premium is around 15.48%.
However, the actual listing price will be determined by market demand and trading on the stock exchanges. The final listing can therefore be significantly different from the grey-market indication.
Investors should not use GMP alone to estimate post-listing performance.
Key Factors to Watch in Hero Motors IPO
Investors tracking the issue may want to monitor several factors during the final subscription day.
First is the subscription level across QIB, NII and retail categories. Strong demand across multiple investor groups can provide information about the market’s response to the offering.
Second is the GMP movement. The premium has already moved from higher levels to around ₹13, showing that grey-market sentiment can change quickly.
Third is the company’s ability to expand its automotive technology business and increase capacity.
Finally, investors should examine the company’s financial statements, valuation, debt position and risk factors contained in the RHP rather than relying solely on subscription numbers or GMP.
Hero Motors IPO GMP: Final Update
The Hero Motors IPO GMP today is around ₹13, according to September 17 market reports. At the ₹84 upper price band, this implies an unofficial estimated value of approximately ₹97 per share and a theoretical premium of about 15.5%.
The IPO itself has received strong demand, with the issue fully subscribed on its opening day and reaching 2.26 times subscription by late morning on September 17, according to reported exchange data.
The IPO closes on September 18, followed by the expected allotment on September 21 and listing on September 23.
The important point for investors is that GMP is not an official price indicator. The actual Hero Motors share price after listing will depend on market conditions, demand and trading activity.