The Hero Motors IPO received a healthy investor response as the issue was booked 6.66 times on its final day of bidding. The automaker’s Rs 1,000 crore issue gained particularly high traction in the non-institutional investor and retail segment.
It share price band has been fixed at Rs 79 to Rs 84 per share. Ahead, of its opening the firm had raised Rs 300 crore via its anchor book. Of the total float, Hero Motors has raised Rs 600 crore through issuance of 7.14 crore fresh equity shares, while the remaining Rs 400 crore have been raised through the offer for sale of 4.76 crore shares.
Overall the issue received 16.26 lakh applications, attracting bids worth Rs 4,904.79 crore.
As per trackers, the grey market premium of Hero Motors stands flat in unlisted markets. This reflects a listing price of Rs 84, and no profit or loss per lot. However, readers must know that GMP is not an actual reflection of the listing price and fluctuates based on market conditions.
Giving the issue a ‘Subscribe for Long Term’ rating, Anand Rathi Research Team, in a report said, “At the upper price band company is valuing at P/E of 92.6x and EV/EBITDA of 34.38x with to its FY26 earnings and market cap of Rs.3,815.4 crore post issue of equity shares.”
Hero Motor IPO subscription timeline
The IPO closed for bidding on September 18 and is expected to get done with its share allotment process by September 21. Bidders are likely to receive their shares along with the requisite refunds by September 22, and Hero Motors is expected to list on the NSE and BSE on September 23.