Hero Motors IPO
Hero Motors IPO is a mainboard IPO raising ₹1,000 Cr at ₹79 – ₹84 a share. It listed on 23 Sept 2026 at ₹82, −2.4% against its issue price of ₹84, and trades at ₹106 today (+25.8% since issue). It was subscribed 6.66× in total.
6.7 times more demand than shares on offer
populated partly populated we hold nothing here — the tab says why
Who bid for it
| Investor category | Shares offered | Shares bid for | Subscribed |
|---|---|---|---|
| QIB Banks, funds and other large institutions | 2,53,16,456 | 3,77,55,046 | 1.49× |
| Foreign Institutional Investors | no separate quota | 63,22,560 | n/a |
| Domestic Financial Institutions | no separate quota | 47,67,018 | n/a |
| Mutual funds | no separate quota | 2,41,71,332 | n/a |
| Others | no separate quota | 24,94,136 | n/a |
| Non-institutional Wealthy individuals and companies bidding above ₹2 lakh | 1,89,87,342 | 18,71,38,520 | 9.86× |
| Non Institutional Investors | 1,26,58,228 | 10,26,02,048 | 8.11× |
| Corporates | no separate quota | 40,71,750 | n/a |
| Individuals | no separate quota | 9,52,28,398 | n/a |
| Others | no separate quota | 33,01,900 | n/a |
| Non Institutional Investors | 63,29,114 | 8,45,36,472 | 13× |
| Corporates | no separate quota | 7,20,544 | n/a |
| Individuals | no separate quota | 8,09,29,302 | n/a |
| Others | no separate quota | 28,86,626 | n/a |
| Retail Ordinary investors bidding up to ₹2 lakh | 4,43,03,798 | 36,48,33,072 | 8.23× |
| Cut Off | no separate quota | 32,54,43,808 | n/a |
| Price bids | no separate quota | 3,93,89,264 | n/a |
| Total | 8,86,07,596 | 58,97,26,638 | 6.66× |
Sub-categories read no separate quota rather than a dash: the exchange publishes bids at that level but never a reservation against them, so a subscription multiple does not exist — it is not missing data. Bids across both exchanges (NSE and BSE) — the figure usually quoted publicly. Last updated 19 Sept, 08:15 am IST.
Where the bids landed
Demand barely changes across the price band — bidders were not price-sensitive. 55% of the book was bid at cut-off — investors who accept whatever price is set.
Cumulative shares bid for at each price, across both exchanges. “Cut-off” means the investor accepts whatever final price is set — mostly small retail applications. A band where demand barely changes between the low and high price tells you bidders were not price-sensitive.
How demand built
Our own series — the exchanges publish a running total and never a history.25 readings held.
Institutions typically enter the book on the final day, which is why a day-one subscription figure tells you very little.