Hero Motors Raises INR 299.99 Crore from Anchor Investors Ahead of IPO

Hero Motors has garnered INR 299.99 crore from anchor investors ahead of its Initial Public Offering (IPO), which opens for public subscription on September 16, 2026.

The company informed the bourses that it allocated 3,57,14,284 equity shares at INR 84 per share to anchor investors.

Some of the marquee institutions that participated in the anchor include ICICI Prudential Life Insurance, 3P India Equity Fund 1M, Edelweiss Life Insurance Company, Societe Generale – ODI and ASAS Global Fund Incorporated VCC Sub Fund, amongst others.  

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

Out of the total allocation of 3,57,14,284 equity shares to the anchor investors, 2,91,64,441  were allocated to 7 domestic mutual funds through 16 schemes.

ICICI Securities, DAM Capital Advisors, 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 NSE and BSE.

Hero Motors has fixed the price band of INR 79 to INR 84 per Equity Share of face value INR 10 each for its maiden initial public offer.

The Company will open its IPO on September 16, 2026, for subscription and close on September 18, 2026.

Investors can bid for a minimum of 178 Equity Shares and in multiples of 178 Equity Shares thereafter.

The proceeds from its fresh issuance worth INR 190 crore will be used for repayment/ prepayment/redemption in full or in part, of certain outstanding borrowings availed by the company, Rs 200 crore for capital expenditure of the company through purchase of equipment required for expansion in capacity of its Gautam Buddha Nagar, Uttar Pradesh facility, funding inorganic growth through unidentified acquisitions and other strategic initiatives and general corporate purposes.

The Offer is being made through the book-building process, in compliance with SEBI ICDR Regulations, wherein not more than 50 percent of the net offer will be available for allocation to Qualified Institutional Buyers (QIBs), not less than 15 percent to Non-Institutional Bidders (NIIs), and not less than 35 percent to Retail Individual Bidders (RIIs).