Hero Motors IPO GMP Today
Expected Gain: 8.33%
Hero Motors IPO GMP Today, 18 September 2026
Hero Motors IPO GMP today is ₹7. The latest grey market premium is reported at ₹7 on 18 September 2026.
Hero Motors IPO has a price band of ₹79 to ₹84 per share. Based on the upper price band of ₹84 and the current GMP of ₹7, the estimated listing price is ₹91 per share.
At the current GMP, the estimated listing gain is approximately 8.33% over the IPO upper price of ₹84.
Hero Motors IPO opened for subscription on 16 September 2026 and will close on 18 September 2026. The IPO is expected to be listed on 23 September 2026 on BSE and NSE.
The IPO comprises a fresh issue of 7,14,28,571 shares aggregating up to ₹600 crore and an offer for sale of 4,76,19,047 shares aggregating up to ₹400 crore. The total issue size is approximately ₹1,000 crore.
Based on the latest GMP of ₹7, the grey market currently indicates expectations of a premium listing if the premium remains around this level until the listing date.
The grey market premium can change before the IPO listing depending on subscription demand, market conditions and investor sentiment.
GMP is an unofficial market indicator and does not guarantee the actual listing price of Hero Motors shares.
Hero Motors IPO Expected Listing Price
IPO Upper Price Band: ₹84
Latest GMP: ₹7
Therefore, the current GMP indicates an estimated listing price of ₹91 per share.
Estimated gain over the upper IPO price: 8.33%
Hero Motors IPO GMP Trend
Hero Motors IPO GMP is currently reported at ₹7 as of 18 September 2026.
The latest GMP has decreased by ₹4 from ₹11 on 17 September 2026. At the current GMP, the estimated listing price is ₹91 per share if the premium remains unchanged until listing.
The GMP trend can change during the IPO subscription period as demand, market conditions and investor sentiment evolve.
| GMP Date | IPO Price | GMP | Estimated Listing | Estimated Gain | Estimated Profit/Lot | Status |
|---|---|---|---|---|---|---|
| 18-Sep-2026 | ₹84 | ₹7 | ₹91 | 8.33% | ₹1,246 | Latest GMP |
| 17-Sep-2026 | ₹84 | ₹11 | ₹95 | 13.10% | ₹1,958 | Previous GMP |
* Estimated listing price is calculated using the IPO upper price band plus the reported GMP. Estimated profit per lot is calculated using GMP × lot size. Latest calculation: ₹7 × 178 shares = ₹1,246. GMP-based estimates are indicative and may differ from the actual listing price.
Hero Motors IPO Details
| IPO Name | Hero Motors IPO |
| Company | Hero Motors Limited |
| IPO Type | Book Building Issue |
| Issue Size | ₹1,000 Crore |
| Fresh Issue | 7,14,28,571 Shares / ₹600 Crore |
| Offer for Sale | 4,76,19,047 Shares / ₹400 Crore |
| Total Issue Shares | 11,90,47,618 Shares |
| Pre-Issue Shares | 38,27,87,005 Shares |
| Post-Issue Shares | 45,42,15,576 Shares |
| Exchange | BSE, NSE |
| Open Date | 16 September 2026 |
| Close Date | 18 September 2026 |
| Allotment Date | 21 September 2026 |
| Refund / Unblock Date | 22 September 2026 |
| Demat Credit | 22 September 2026 |
| Listing Date | 23 September 2026 |
| Price Band | ₹79 to ₹84 per share |
| Face Value | ₹10 per share |
| Lot Size | 178 Shares |
| Minimum Investment | ₹14,952 |
| Latest GMP | ₹7 |
| Previous GMP | ₹11 on 17 September 2026 |
| Estimated Listing Price | ₹91 |
| Estimated Gain | 8.33% |
| Estimated Profit Per Lot | ₹1,246 |
| Last GMP Update | 18 September 2026 |
| Registrar | KFin Technologies Ltd. |
| Lead Managers | ICICI Securities Ltd., DAM Capital Advisors Ltd., JM Financial Ltd. |
Hero Motors IPO GMP Profit Estimate
Based on the latest GMP of ₹7 and the IPO upper price band of ₹84, the estimated listing price is ₹91 per share.
| Particular | Calculation | Amount |
|---|---|---|
| IPO Investment | ₹84 × 178 Shares | ₹14,952 |
| Estimated Listing Value | ₹91 × 178 Shares | ₹16,198 |
| Estimated Gain | ₹16,198 − ₹14,952 | ₹1,246 |
If the GMP remains at ₹7 until listing, one lot of 178 shares would indicate an estimated GMP-based gain of approximately ₹1,246.
Hero Motors IPO GMP Update
GMP Date: 18 September 2026
Latest GMP: ₹7
Previous GMP: ₹11 on 17 September 2026
At the latest reported GMP of ₹7, the estimated listing price is ₹91 per share.
This represents an indicative listing gain of 8.33% over the upper IPO price of ₹84.
For one lot of 178 shares, the indicative GMP-based profit is ₹1,246.
The GMP has decreased by ₹4 from the previous reported level of ₹11 on 17 September 2026.
GMP can change before the listing date and should be treated only as an unofficial indicator of market sentiment.
What Is Hero Motors IPO GMP?
IPO GMP stands for Initial Public Offering Grey Market Premium. It represents the premium at which an IPO may be informally traded in the grey market before its official stock-market listing.
A positive GMP can indicate positive market sentiment and expectations of a premium listing. However, GMP is unofficial, unregulated and can change rapidly before the listing date.
Estimated Listing Price = IPO Upper Price Band + Latest GMP
₹84 + ₹7 = ₹91
Estimated Gain = (₹7 ÷ ₹84) × 100 = 8.33%
Estimated Profit Per Lot = ₹7 × 178 = ₹1,246
GMP should only be considered an indicative market-sentiment indicator. The actual listing price can be significantly different from the GMP-based estimate.
Hero Motors IPO Company Overview
Hero Motors Limited is an automotive technology company incorporated in April 1998. The company designs, develops, manufactures and supplies engineered powertrain solutions and automotive components to original equipment manufacturers across India, Europe, the United States and ASEAN markets.
The company operates across two broad business areas: Powertrain Solutions and Alloys & Metallics. Its product portfolio covers both electric and conventional powertrain applications.
Hero Motors provides solutions for two-wheelers, e-bikes, premium and performance vehicles, electric and hybrid cars, off-road vehicles, heavy-duty vehicles and emerging eVTOL applications.
Its capabilities cover system and component-level engineering, product development, prototyping, validation, manufacturing and supply to global automotive OEMs.
As of 31 March 2026, the company operated multiple manufacturing and assembly facilities across India and overseas, supported by technology and engineering capabilities for product development and validation.
Hero Motors serves customers across automotive and mobility segments, including global OEMs and technology partners.
Hero Motors IPO Competitive Strengths
- Diversified powertrain product portfolio covering ICE, electric and hybrid applications.
- Long-standing relationships with leading global automotive OEMs.
- Presence across India, Europe, the United States and ASEAN markets.
- Engineering and research capabilities across product development and validation.
- Exposure to electric mobility and emerging automotive technologies.
- Geographically diversified manufacturing and technology operations.
- Experience in supplying engineered automotive solutions to global customers.
Hero Motors IPO Financial Performance
| Particular | FY 2026 | FY 2025 | FY 2024 |
|---|---|---|---|
| Total Assets | ₹1,371.83 Cr | ₹1,164.62 Cr | ₹1,059.86 Cr |
| Total Income | ₹1,216.74 Cr | ₹1,111.23 Cr | ₹1,083.42 Cr |
| PAT | ₹41.17 Cr | ₹32.80 Cr | ₹17.04 Cr |
| EBITDA | ₹147.78 Cr | ₹114.00 Cr | ₹86.28 Cr |
| Net Worth | ₹482.45 Cr | ₹423.95 Cr | ₹385.44 Cr |
| Reserves & Surplus | ₹116.32 Cr | ₹67.71 Cr | ₹32.26 Cr |
| Total Borrowing | ₹400.79 Cr | ₹407.62 Cr | ₹304.00 Cr |
Hero Motors reported total income of ₹1,216.74 crore in FY2026, compared with ₹1,111.23 crore in FY2025.
Profit after tax increased to ₹41.17 crore in FY2026 from ₹32.80 crore in FY2025. EBITDA also increased from ₹114.00 crore to ₹147.78 crore during the same period.
The company’s FY2026 revenue and profitability showed improvement compared with FY2025, although investors should also consider debt levels, customer concentration and the competitive nature of the automotive components industry.
Hero Motors IPO Key Financial Ratios
| KPI | FY 2026 |
|---|---|
| ROE | 8.56% |
| ROCE | 19.77% |
| Debt / Equity | 0.83 |
| RoNW | 8.53% |
| PAT Margin | 3.46% |
| EBITDA Margin | 12.44% |
| NAV | ₹12.72 |
| Price to Book Value | 6.60x |
Hero Motors IPO Valuation
| Valuation Metric | Pre-IPO | Post-IPO |
|---|---|---|
| EPS | ₹1.08 | ₹0.91 |
| P/E | 77.78x | 92.31x |
| Market Cap at Offer Price | ₹3,215 Cr | ₹3,815.41 Cr |
At the upper IPO price of ₹84, the post-issue market capitalization is estimated at approximately ₹3,815.41 crore.
The post-issue P/E valuation is approximately 92.31x based on the stated post-issue EPS. Investors should compare the valuation with listed automotive component companies before making an investment decision.
Hero Motors IPO Reservation
| Investor Category | Reservation |
|---|---|
| QIB | Not more than 50% |
| Retail | Not less than 35% |
| NII | Not less than 15% |
Hero Motors IPO Lot Size and Investment
Investors can bid for a minimum of 178 shares and in multiples thereof.
| Investor Category | Lots | Shares | Investment |
|---|---|---|---|
| Retail Minimum | 1 | 178 | ₹14,952 |
| Retail Maximum | 13 | 2,314 | ₹1,94,376 |
| S-HNI Minimum | 14 | 2,492 | ₹2,09,328 |
| S-HNI Maximum | 66 | 11,748 | ₹9,86,832 |
| B-HNI Minimum | 67 | 11,926 | ₹10,01,784 |
Hero Motors IPO Offer for Sale
| OFS Seller | Category | Shares Offered | Amount |
|---|---|---|---|
| O.P. Munjal Holdings | Promoter | 4,70,23,809 | ₹395 Cr |
| Hero Cycles Limited | Promoter | 5,95,238 | ₹5 Cr |
| Total | 4,76,19,047 | ₹400 Cr |
Hero Motors IPO Objects of the Issue
The company plans to use the proceeds from the fresh issue mainly for debt reduction, capacity expansion and growth initiatives.
| No. | Issue Object | Estimated Amount |
|---|---|---|
| 1 | Repayment / pre-payment / redemption of certain outstanding borrowings | ₹190 Cr |
| 2 | Capital expenditure for capacity expansion at Gautam Buddha Nagar, Uttar Pradesh facility | ₹200 Cr |
| 3 | Inorganic growth, strategic initiatives and general corporate purposes | Balance Amount |
The company proposes to use approximately ₹190 crore for repayment or pre-payment of borrowings and approximately ₹200 crore towards capital expenditure for capacity expansion.
Hero Motors IPO Important Dates
| IPO Event | Date |
|---|---|
| IPO Opens | 16 September 2026 |
| IPO Closes | 18 September 2026 |
| Basis of Allotment | 21 September 2026 |
| Refund / Unblocking | 22 September 2026 |
| Shares Credited to Demat | 22 September 2026 |
| Listing | 23 September 2026 |
Hero Motors IPO GMP FAQs
What is Hero Motors IPO GMP today?
Hero Motors IPO GMP is ₹7 as of 18 September 2026.
What is the expected listing price of Hero Motors IPO?
Based on the upper IPO price of ₹84 and GMP of ₹7,
the estimated listing price is ₹91 per share.
What is the expected gain from Hero Motors IPO GMP?
The GMP of ₹7 indicates an estimated gain of approximately
8.33% over the upper IPO price of ₹84.
What is the estimated profit per lot?
With a lot size of 178 shares, the GMP-based estimated profit
is ₹1,246 per lot.
What is Hero Motors IPO price band?
The IPO price band is ₹79 to ₹84 per share.
What is Hero Motors IPO lot size?
The lot size is 178 shares.
What is the minimum investment in Hero Motors IPO?
At the upper price band, the minimum retail investment is
₹14,952 for one lot of 178 shares.
When will Hero Motors IPO open?
The IPO opens on 16 September 2026.
When will Hero Motors IPO close?
The IPO closes on 18 September 2026.
When is Hero Motors IPO allotment?
The basis of allotment is expected on 21 September 2026.
When is Hero Motors IPO listing?
The expected listing date is 23 September 2026 on BSE and NSE.
What is Hero Motors IPO issue size?
The total IPO issue size is approximately ₹1,000 crore,
consisting of a ₹600 crore fresh issue and a ₹400 crore
offer for sale.
What is Hero Motors IPO fresh issue?
The fresh issue comprises 7,14,28,571 shares aggregating
up to ₹600 crore.
What is Hero Motors IPO OFS?
The offer for sale comprises 4,76,19,047 shares aggregating
up to ₹400 crore.
IPO GMP is based on unofficial grey-market indications and is provided for informational purposes only. GMP can change rapidly and does not guarantee the actual listing price or investment returns. The estimated listing price, percentage gain and profit shown above are calculated using the IPO upper price band and reported GMP. Investors should conduct their own research and due diligence before making any investment decision.