16 - 09 - 2026

Hero Motors raises ₹299.99 crore from anchor investors ahead of IPO

Hero Motors has raised ₹299.99 crore from an array of marquee institutions including ICICI Prudential Life Insurance Company, 3P India Equity Fund 1M and Edelweiss Life Insurance Company, among others.

The firm allocated 3.57 crore shares at ₹84 per share to anchor investors, it said in a regulatory filing, adding Societe Generale–ODI and ASAS Global Fund Incorporated VCC Sub Fund were among other institutions to invest in the firm ahead of its Initial Public Offering (IPO).

Amongst equity-oriented schemes, the company has allocated shares to ICICI Prudential Smallcap Fund, Kotak Mahindra Trustee Co Ltd A/C Kotak MNC Fund and JM Financial Mutual Fund–JM Flexi Cap Fund and others.

Out of the total allocation, 2.91 crore shares were allocated to seven domestic mutual funds.

Hero Motors is an automotive technology company into designing, developing, manufacturing and supplying highly engineered powertrain solutions catering to automotive original equipment manufacturers (OEMs) in the US, Europe, India and Association of Southeast Asian Nations (ASEAN) region.

₹1,000 crore IPO

Hero Motors fixed a price band of ₹79-84 per share for its ₹1,000 crore IPO, which opens for public subscription on September 16, 2026, and closes on September 18, 2026. The offer comprises a fresh issue of up to ₹600 crore alongside an offer-for-sale of up to ₹400 crore by promoters O P Munjal Holdings and Hero Cycles, with retail investors eligible to bid for a minimum lot of 178 equity shares.

The proceeds from its fresh issuance worth ₹190 crore will be used for repayment of certain outstanding borrowings, ₹200 crore for capital expenditure and for funding inorganic growth.

ICICI Securities Limited, DAM Capital Advisors Limited, and JM Financial Limited are the book-running lead managers, and KFin Technologies is the registrar of the offer. The equity shares are proposed to be listed on the National Stock Exchange (NSE) and BSE Limited.

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