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
Where your money goes
Only the fresh issue reaches the company. The offer for sale is existing shareholders selling their own stock — that money goes to them, not the business.
A red herring prospectus is filed before the price is fixed, so it states share counts rather than rupee amounts. stated in prospectus. Checked: exchange issue size Rs1000 Cr vs derived Rs1000 Cr (0.0% apart).
What the fresh money funds
The stated uses of the net proceeds, from the prospectus’s Objects of the Issue table. Only the fresh issue funds these — the offer-for-sale money goes to the selling shareholders above.
As stated in the prospectus. “General corporate purposes” is the part with no committed use; SEBI caps it at 25% of the issue.
The price they’re asking
From the prospectus’s own “Basis for Issue Price” — the issuer’s earnings multiple against the peers it chose to compare itself with.
Priced 31% above the median multiple of the peers the issuer itself names.
| Listed peer (issuer’s choice) | P/E | RoNW | EPS |
|---|---|---|---|
| CIE Automotive India Limited | 17.68× | 13.18% | ₹21.69 |
| Endurance Technologies Limited | 40.84× | 15.29% | ₹67.66 |
| Sona BLW Precision Forgings Limited | 76.5× | 10.77% | ₹10.3 |
| UNO Minda Limited | 59.84× | 19.59% | ₹20.75 |
| Varroc Engineering Limited | 56.15× | 18.7% | ₹14.73 |
| This issue | 73.7× | 8.53% | ₹1.14 |
derived: cut-off price Rs84 / stated EPS Rs1.14 (FY2026 (year ended March 31, 2026) diluted EPS, restated consolidated). Peer figures are as printed in the prospectus — they date from its filing, not today. A multiple is one lens, not a verdict.
Terms of the issue
The mechanics of what is being sold. Held for every issue we track.
Not here yet
The anchor-investor allocation — which institutions were allotted shares before bidding opened — is still to be read out of its document.