Hero Motors IPO
Auto Ancillaries • ₹1000 Cr
High risk because:
- 5 material risk factors disclosed in DRHP
- High customer concentration flagged in the DRHP
- The company derives a significant portion of its revenue from operations outside India, pa…
IPOFins risk score from DRHP risk factors, subscription demand & issue structure
Price Band
₹84
Lot Size
178 shares
Issue Size
₹1000 Cr
Open
16 Sept 2026
Close
18 Sept 2026
Subscription
6.64×
IPO Schedule
| Issue Open Date | 16 Sept 2026 |
| Issue Close Date | 18 Sept 2026 |
| Allotment Date | 21 Sept 2026 |
| Listing Date | 22 Sept 2026 |
About Hero Motors
Hero Motors is an automotive technology company engaged in designing, developing, manufacturing, and supplying powertrain solutions to automotive OEMs in the United States, Europe, India, and the ASEAN region. Its offerings cover design, prototyping, validation, development, and delivery of system-level and component-level solutions for electric and non-electric powertrains. The company’s products are used across two-wheelers, performance automotive, e-bikes, off-road vehicles, electric and hybrid cars, heavy-duty vehicles and eVTOL applications. Its key offerings include continuously variable transmissions (CVT), EV transmissions, electric motors, integrated drive units and gear sets. The company operates through two business segments: Powertrain Solutions and Alloys and Metallics (A&M). Powertrain Solutions comprises Gears and Transmissions (G&T) and Bike Powertrain (BPT), while A&M provides sheet metal and tubular assemblies and component solutions primarily to automotive OEMs. As of FY26, the company operated six manufacturing facilities across India, the United Kingdom and Thailand, along with two technology centres in the United Kingdom and India. It has in-house design, engineering, manufacturing, testing and validation capabilities and is also setting up additional facilities in Ludhiana, Punjab and Bengaluru, Karnataka.
Company Details
Founders / Promoters
Mr Amit Gupta
Founded
1998
Registrar
KARVY
Documents
DRHP / RHP Document (PDF)
View official prospectus →
Investment Analysis
Hero Motors — IPOFins Verdict
QuantitativeDriven by QIB demand at 1.5x and elevated disclosed risk (7/10), Hero Motors listed at a discount of 2.4% to its issue price. The signals look weak — weigh the risks carefully. This is a quantitative flag, not a recommendation.
- The company claims to be among India’s leading solutions providers to the global e-mobility industry, with e-mobility revenue of Rs 273.29 crore (23.00%) in FY26, Rs 175.59 crore (16.12%) in FY25 and
- The company claims to have expanded its presence across the electric bike and premium two-wheeler segments, with customers including BMW and Ducati. It has supplied CVT systems for over 0.40 million e
- The company claims to have longstanding relationships with premium global and Indian OEMs across automotive and non-automotive sectors, including BMW, Ducati, Hero MotoCorp, Formula Motorsport, HWA En
- The company has geographically diversified manufacturing and technology infrastructure across India, the United Kingdom and Thailand. Its facilities include precision manufacturing and gearbox assembl
- The company claims to have strengthened its R&D and engineering capabilities through technology centres, in-house testing equipment and strategic partnerships. R&D expenditure stood at Rs 89.59 crore
Score breakdown — what drove this verdict
High risk from DRHP → score -0.8
Institutional subscription → score 0
Strong retail interest → score +0.5
Actual listing outcome → score −0.5
Base score: 5.0 · Final score = base + all factor adjustments, capped 1–10. Full methodology →
IPOFins Score is a quantitative signal from subscription demand, disclosed risk, and listing data — not investment advice. Not SEBI-registered.
Listing Performance
Issue Price
₹84
Listing Price
₹82
Listing Gain/Loss
-2.38%
Listing Date
22 Sept 2026
Price Since Listing
Returns are measured against the ₹84 issue price.
Listing
₹82
-2.4%
Current
₹135.06
+60.8%
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FAQ
What is the price band of Hero Motors IPO?
The price band is ₹84 per share with a lot size of 178 shares. Minimum investment: ₹14,952.
What does Hero Motors do?
Hero Motors is an automotive technology company engaged in designing, developing, manufacturing, and supplying powertrain solutions to automotive OEMs in the United States, Europe, India, and the ASEAN region. Its offerings cover design, prototyping, validation, development, and delivery of system-level and component-level solutions for electric and non-electric powertrains. The company’s products are used across two-wheelers, performance automotive, e-bikes, off-road vehicles, electric and hybrid cars, heavy-duty vehicles and eVTOL applications. Its key offerings include continuously variable transmissions (CVT), EV transmissions, electric motors, integrated drive units and gear sets. The company operates through two business segments: Powertrain Solutions and Alloys and Metallics (A&M). Powertrain Solutions comprises Gears and Transmissions (G&T) and Bike Powertrain (BPT), while A&M provides sheet metal and tubular assemblies and component solutions primarily to automotive OEMs. As of FY26, the company operated six manufacturing facilities across India, the United Kingdom and Thailand, along with two technology centres in the United Kingdom and India. It has in-house design, engineering, manufacturing, testing and validation capabilities and is also setting up additional facilities in Ludhiana, Punjab and Bengaluru, Karnataka.
Should I apply for Hero Motors IPO?
Hero Motors listed at ₹82 (-2.4% discount to the ₹84 issue price) after 6.6x subscription. IPOFins Score 4/10: Driven by QIB demand at 1.5x and elevated disclosed risk (7/10), Hero Motors listed at a discount of 2.4% to its issue price. The signals look weak — weigh the risks carefully. This is a quantitative flag, not a recommendation.
Who founded Hero Motors?
Hero Motors was founded by Mr Amit Gupta in 1998.