Hero Motors’ Rs 1,000 crore initial public offering was fully subscribed on its opening day, led by retail investors, signalling strong market interest despite subdued institutional bids, with the issue slated to list on NSE and BSE later this month.
Hero Motors’ initial public offering drew solid demand on its opening day, with the issue fully subscribed by mid-afternoon on Wednesday, September 16, 2026, according to provisional exchange data. Retail investors led the response, while institutional interest remained comparatively subdued in early trade.
By 2.25pm, bids had been placed for 22,80,85,464 shares against the total on offer. The retail portion was subscribed 1.75 times, with bids for 7,75,88,598 shares against 4,43,03,798 reserved, while the non-institutional segment was covered 0.81 times. Qualified institutional buyers had subscribed just 0.01 times at that stage.
The Rs 1,000 crore issue combines a fresh equity sale of Rs 600 crore with an offer for sale of Rs 400 crore by existing shareholders, according to the offer documents and market reports. The price band has been fixed at Rs 79 to Rs 84 a share, with a lot size of 178 shares, meaning retail applicants need at least Rs 14,952 for one lot. The issue closes on September 18, with allotment expected on September 21 and a tentative listing on the NSE and BSE on September 23.
Hero Motors, incorporated in 1998, designs and supplies engineered powertrain systems to vehicle makers across the US, Europe, India and south-east Asia. Its portfolio spans electric and conventional drivetrains for two-wheelers, e-bikes, performance cars, off-road vehicles, heavy-duty applications and eVTOLs, the electric aircraft often described as air taxis. The company has reported rising income and profitability in recent years, with restated figures showing revenue of Rs 1,216.74 crore in FY26 and profit after tax of Rs 41.17 crore, up from Rs 17.04 crore in FY24. Grey market chatter has also pointed to a stronger opening, with one market tracker saying the premium had climbed on the first day.
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