Hero Motors Ltd

·

₹84.00 Issue Price

2026-09-16 – 2026-09-18

www.heromotors.com Bookbuilding IPO · NSE & BSE

Open Date

2026-09-16

Close Date

2026-09-18

Listing Date

2026-09-23

Allotment Date

2026-09-21

Current Price

₹84.00

High / Low

₹— / ₹—

ROCE

19.77 %

ROE

8.56 %

Face Value

₹10

About

Incorporated in April 1998, Hero Motors Limited is an automotive technology company engaged in designing, developing, manufacturing and supplying engineered powertrain solutions to automotive original equipment manufactu…

Incorporated in April 1998, Hero Motors Limited is an automotive technology company engaged in designing, developing, manufacturing and supplying engineered powertrain solutions to automotive original equipment manufacturers (OEMs) across the United States, Europe, India and ASEAN region. The Company provides integrated solutions for both electric and non-electric powertrains, serving two-wheelers, performance automotive, e-bikes, off-road vehicles, electric and hybrid cars, heavy-duty vehicles and eVTOL applications.The Company offers system-level and component-level solutions covering designing, prototyping, validation, development and delivery of powertrain systems. It is recognized for its expertise in continuously variable transmissions (CVT), EV transmissions, electric motors, integrated drive units and gear sets. The Company also has a first-mover position in the global e-bike powertrain market and is the only manufacturer in India producing and exporting CVT hubs and integrated electric powertrain products for e-bikes.The Company's operations are divided into Powertrain Solutions and Alloys and Metallics (A&M) segments. Powertrain Solutions comprises Gears and Transmissions (G&T), serving automotive and mobility applications, and Bike Powertrain (BPT), focused on micro-mobility applications and global e-bike manufacturers. The A&M segment provides sheet metal and tubular assemblies and components primarily to automotive OEMs.The Company has established relationships with global customers including BMW, Ducati, enviolo, Formula Motorsport, Hummingbird EV and HWA, along with leading global e-bike manufacturers. It focuses on technology and innovation through in-house design and engineering capabilities and partnerships with global technology players.As of March 31, 2026, the Company had 1,388 permanent employees and 707 contract labourers.Competitive StrengthsStrong R&D and engineering capabilities.Long-term relationships with global OEMs.Strong presence in the global e-mobility industry.Diversified powertrain product and service offerings.Experienced management and strong corporate governance.Growing presence in electric bikes and premium two-wheelers. 

📍 Hero Nagar GT Road Ludhiana Ludhiana, Punjab, 141003

📞 + 91 120441200

✉️ investorrelations@heromotors.com

Analysis

Pros

ROE of 8.56% indicates good return on equity.
ROCE of 19.77% shows efficient capital usage.
PAT margin of 3.46%.

Cons

Trading at 6.6× book value.

Pros and cons are machine generated. Please exercise caution and do your own analysis.

Subscription Status

Consolidated figures

1.13× overall

Metric	QIB	NII (HNI)	Retail	Total
Subscription	0.01×	0.87×	1.88×	1.13×
Shares	2,38,09,525	1,78,57,143	4,16,66,666	8,33,33,334
Bids	1,63,760	1,56,22,704	7,83,04,336	9,40,90,800

▼ Category-wise Detailed Breakdown

Category	Subscription	Offered	Bid Shares	Amt (₹ Cr)
QIB	0.01×	2,38,09,525	1,63,760	₹1.38
NII (HNI)	0.87×	1,78,57,143	1,56,22,704	₹131.23
Retail	1.88×	4,16,66,666	7,83,04,336	₹657.76
Market Maker	1.00×	—	—	—
Total	1.13×	8,33,33,334	9,40,90,800	₹790.36 Cr

Applications: - Total Bid Amount: ₹790.36 Cr

Profit & Loss

Figures in ₹ Crores / Amount in ₹ Crore

Metric	31 Mar 2026	31 Mar 2025	31 Mar 2024
Revenue	1,216.74	1,111.23	1,083.42
EBITDA	147.78	114.00	86.28
Profit After Tax	41.17	32.80	17.04
Net Worth	482.45	423.95	385.44
Total Assets	1,371.83	1,164.62	1,059.86
Reserves	116.32	67.71	32.26
Borrowings	400.79	407.62	304.00

Sales Growth
3 Years:	-11%
Latest:	1,083.42 Cr

Profit Growth
3 Years:	-58.6%
Latest PAT:	17.04 Cr

Return on Equity
ROE:	8.56%
ROCE:	19.77%

Key Financial Ratios

Profitability

ROE 8.56%

ROCE 19.77%

RONW 8.53%

PAT Margin 3.46%

EBITDA Margin 12.44%

Valuation

Pre EPS 1.08

Post EPS 0.91

Pre P/E 77.78×

Post P/E 92.31×

P/BV 6.60×

Leverage & Growth

Debt / Equity 0.83×

Sales Growth (3yr) -11%

Profit Growth (3yr) -58.6%

Latest Revenue 1,083.42 Cr

Latest PAT 17.04 Cr

Objects of the Issue

1 Repayment/prepayment/redemption, in full or in part, of certain outstanding borrowings availed by Company ₹190.00 Cr

2 Capital expenditure of Company through purchase of equipment for expansion in capacity of Gautam Buddha Nagar, Uttar Pradesh facility ₹200.00 Cr

3 Funding inorganic growth through unidentified acquisitions and other strategic initiatives and general corporate purposes(

IPO Schedule & Important Dates

IPO Open

2026-09-16

Today ←

IPO Close

2026-09-18

Upcoming

Allotment

2026-09-21

Upcoming

Refund

2026-09-22

Upcoming

Demat Credit

2026-09-22

Upcoming

Listing

2026-09-23

Upcoming

Lot Size & Investment Details

RETAIL MIN

₹14,952

1 lot · 178 shares

RETAIL MAX

₹14,952

1 lots · 178 shares

HNI MIN

₹1,001,784

67 lots

Category	Lots	Shares	Amount (₹)
Retail (Min)	178	178	₹14,952
Retail (Max)	1	178	₹14,952
HNI (Min)	67	11926	₹1,001,784

Pre-Issue Holding: 38,27,87,005 shares Post-Issue Holding: 45,42,15,576 shares

Lead Managers & Market Makers

Book Running Lead Managers

ICICI Securities Ltd Dam Capital Advisors Ltd JM Financial Ltd

Allotment Status

Allotment Date: 2026-09-21

Registrar: Kfin Technologies Ltd

Check Allotment

040-79615565

heromotors.ipo@kfintech.com

https://www.chittorgarh.com/report/ipo-registrar-review/114/2/