Mumbai: has raised Rs 299.99 crore from anchor investors ahead of its Rs 1,000-crore initial public offering, signalling strong demand before the issue opens for public subscription on September 16, 2026.
Anchor Book Draws Institutions
allotted 3,57,14,284 equity shares to anchor investors at Rs 84 apiece, atop its price band.
Participants included ICICI Prudential Life Insurance Company, 3P India Equity Fund 1M, Edelweiss Life Insurance Company, Societe Generale–ODI and ASAS Global Fund Incorporated VCC Sub Fund.
Participating schemes included ICICI Prudential Smallcap Fund, Kotak MNC Fund and JM Flexi Cap Fund.
Domestic mutual funds secured 2,91,64,441 shares through 16 schemes, accounting for the bulk of the anchor allocation.
Offer Opens September 16
Hero Motors has set a price band of Rs 79–Rs 84 per share with a face value of Rs 10. The IPO will close on September 18.
Investors can bid for a minimum of 178 shares and its multiples. The offer comprises a fresh issue of up to Rs 600 crore and an offer-for-sale of up to Rs 400 crore by promoters O P Munjal Holdings and Hero Cycles.
Fresh Capital Deployment
The company plans to use Rs 190 crore from the fresh proceeds to repay borrowings. Another Rs 200 crore will fund equipment for capacity expansion at its Gautam Buddha Nagar facility in Uttar Pradesh.
Remaining proceeds will support unidentified acquisitions, strategic initiatives and general corporate purposes.
Powertrain Technology Focus
Hero Motors designs and manufactures engineered powertrain systems for electric and conventional vehicles. Its solutions span design, prototyping, validation, development and component delivery.
Applications include two-wheelers, e-bikes, performance cars, off-road vehicles, electric and hybrid cars, heavy-duty vehicles, aerospace and eVTOL platforms.
Its customers include BMW, Ducati, Enviolo, Formula Motorsport, Hummingbird EV and HWA. The shares are proposed to list on the NSE and BSE. ICICI Securities, DAM Capital Advisors and JM Financial are managing the offer, while KFin Technologies is the registrar.