Hero Motors has raised ₹299.99 crore from anchor investors ahead of its maiden Initial Public Offering (IPO), which opens for public subscription on September 16, 2026.
The company has allocated 3,57,14,284 equity shares at ₹84 per share to anchor investors. The allocation includes participation from institutions such as ICICI Prudential Life Insurance, 3P India Equity Fund 1M, Edelweiss Life Insurance Company, Societe Generale – ODI and ASAS Global Fund Incorporated VCC Sub Fund.
Among equity-oriented schemes, shares were allocated to ICICI Prudential Smallcap Fund, Kotak Mahindra Trustee A/C Kotak MNC Fund and JM Financial Mutual Fund – JM Flexi Cap Fund, among others. Of the total anchor allocation, 2,91,64,441 shares were allocated to seven domestic mutual funds through 16 schemes.
Hero Motors has fixed the IPO price band at ₹79–₹84 per equity share, with a face value of ₹10 per share. The IPO will open on September 16 and close on September 18, 2026. Investors can bid for a minimum of 178 shares and in multiples thereof.
The fresh issue proceeds will include ₹190 crore for repayment, prepayment or redemption of certain borrowings and ₹200 crore for capital expenditure related to capacity expansion at the company’s Gautam Buddha Nagar facility in Uttar Pradesh. The proceeds will also support inorganic growth initiatives, strategic activities and general corporate purposes.
ICICI Securities, DAM Capital Advisors and JM Financial are the book-running lead managers for the issue, while KFin Technologies is the registrar. The equity shares are proposed to be listed on the NSE and BSE.
Under the IPO’s allocation framework, not more than 50% of the net offer will be available to Qualified Institutional Buyers (QIBs), not less than 15% to Non-Institutional Bidders (NIIs), and not less than 35% to Retail Individual Bidders (RIIs).
