Hero Motors IPO: Price band set at ₹79-84 per share; check key dates, issue details
Hero Motors IPO will be available for subscription from 16 to 18 September, with shares priced between ₹79 and ₹84. The allocation includes 50% for QIBs and 35% for retail investors. Share listing is expected on 23 September.
Hero Motors IPO price band: The Hero Motors Limited IPO price band has been fixed in the range of ₹79 to ₹84 per equity share of the face value of ₹10. The Hero Motors IPO date of subscription is scheduled for Wednesday, 16 September and will close on Friday, 18 September. The allocation to anchor investors for the Hero Motors IPO is scheduled to take place on Tuesday, 15 September.
The Hero Motors IPO lot size is 178 equity shares and in multiples of 178 equity shares thereafter.
Hero Motors IPO has reserved not more than 50% of the shares in the public issue for qualified institutional buyers (QIB), not less than 15% for non-institutional Institutional Investors (NII), and not less than 35% of the offer is reserved for retail investors.
Tentatively, Hero Motors IPO basis of allotment of shares will be finalised on Monday, 21 September and the company will initiate refunds on Tuesday, 22 September, while the shares will be credited to the demat account of allottees on the same day following refund. Hero Motors share price is likely to be listed on BSE and NSE on Wednesday, 23 September.
Hero Motors IPO details
The IPO comprises a fresh issue of shares worth ₹600 crore and an Offer For Sale (OFS) of ₹400 crore.
At the upper end of the price band, Hero Motors will have a market capitalisation of ₹3,815 crore. Following the OFS, the promoter holding will decline to 61.63% from 85.57% earlier.
The company plans to use the fresh issue proceeds to reduce debt and purchase equipment to expand its facility in Uttar Pradesh.
ICICI Securities, DAM Capital and JM Financial are the book-running lead managers for the issue, while Kfin Technologies is the registrar.
Company details
Hero Motors Limited is an Indian automotive technology company engaged in the design, development, manufacturing and supply of highly engineered powertrain solutions for automotive original equipment manufacturers (OEMs) across the US, Europe, India and the ASEAN region.
The company has a diversified product portfolio catering to various mobility applications, including two-wheelers, performance vehicles, e-bikes, off-road vehicles, electric and hybrid cars, heavy-duty vehicles and electric vertical take-off and landing (eVTOL) aircraft.
Hero Motors supplies powertrain solutions to globally recognised brands, including BMW AG, Ducati Motor Holding S.P.A., Enviolo International Inc., Formula Motorsport Ltd., Hummingbird EV and HWA AG, as well as leading global e-bike manufacturers.
Its capabilities extend beyond automotive applications, with the company also serving aerospace and other emerging mobility segments.
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Dhanya Nagasundaram works as a Content Producer at LiveMint, specializing in news related to financial markets, stocks, and business. With over eight years of experience in journalism and content creation, she has honed her skills in data-driven reporting and market analysis. Her focus is on monitoring stock trends, initial public offerings (IPOs), corporate news, policy shifts, and larger economic trends that affect investors and market players. <br><br> At LiveMint, Dhanya consistently writes and produces articles that make complex financial topics accessible to readers. She keeps a close eye on equity markets, commodities, and macroeconomic indicators, assisting audiences in comprehending how global and domestic events influence investment perspectives. Her stories frequently underscore emerging trends within sectors, the IPO market, company earnings results, and market strategies pertinent to both retail and institutional investors. <br><br> Before her tenure at LiveMint, Dhanya accumulated a wealth of professional experience at various companies, including MintGenie, Informist, Cogenics, Chary Publications, KPMG, and the Royal Bank of Scotland. These positions allowed her to establish a solid foundation in financial research, reporting, and content creation. <br><br> Throughout her career, she has explored numerous subjects such as trading strategies, commodities, IPOs, wealth generation, corporate profits, and macroeconomic indicators. Her background in both financial journalism and corporate settings has given her the ability to tackle stories with analytical rigor while ensuring clarity for her audience. Through her contributions, Dhanya strives to deliver insightful, trustworthy, and investor-centric financial content.
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