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Hero Motors Limited, one of India’s leading automotive technology companies, has fixed the price band for its maiden Initial Public Offering (IPO) at ₹79-84 per equity share, with a face value of ₹10 each. The IPO will open for subscription on September 16, 2026, and close on September 18, 2026. Investors can bid for a minimum of 178 equity shares and in multiples of 178 shares thereafter.
The company IPO comprises a fresh issue of up to ₹600 crore and an Offer for Sale (OFS) of up to ₹400 crore by promoters O P Munjal Holdings and Hero Cycles Limited. Of the proceeds from the fresh issue, ₹190 crore will be used for the repayment, prepayment or redemption of certain outstanding borrowings availed by the company.
Hero Motors plans to use ₹200 crore from the fresh issue for capital expenditure, including the purchase of equipment required to expand the capacity of its facility in Gautam Buddha Nagar, Uttar Pradesh. The funds will also support potential acquisitions, other strategic initiatives and general corporate purposes.
The company provides highly engineered powertrain solutions to automotive Original Equipment Manufacturers (OEMs) across the US, Europe, India and the ASEAN region. It offers integrated solutions for both electric and non-electric powertrains, covering designing, prototyping, validation, development and delivery of system-level and component-level solutions. Its products are used in two-wheelers, performance automotive, e-bikes, off-road vehicles, electric and hybrid cars, heavy-duty vehicles and electric vertical take-off and landing (eVTOL) applications.
Hero Motors has expertise in the development and manufacturing of Continuously Variable Transmissions (CVTs), EV transmissions, electric motors, integrated drive units and gear sets. Its global customers include BMW AG, Ducati Motor Holding, enviolo, Formula Motorsport, Hummingbird EV and HWA AG, among others. ICICI Securities, DAM Capital Advisors and JM Financial are the book-running lead managers for the IPO, while KFin Technologies is the registrar to the offer.
