Hero Motors price band: The Hero Motors Limited IPO price band has been fixed in the range of ₹79 to ₹84 per equity share of the face value of ₹10. The Hero Motors IPO date of subscription is scheduled for Wednesday, 16 September and will close on Friday, 18 September. The allocation to anchor investors for the Hero Motors IPO is scheduled to take place on Tuesday, 15 September.
The Hero Motors IPO lot size is 178 equity shares and in multiples of 178 equity shares thereafter.
Hero Motors IPO has reserved not more than 50% of the shares in the public issue for qualified institutional buyers (QIB), not less than 15% for non-institutional Institutional Investors (NII), and not less than 35% of the offer is reserved for retail investors.
Tentatively, Hero Motors IPO basis of allotment of shares will be finalised on Monday, 21 September and the company will initiate refunds on Tuesday, 22 September, while the shares will be credited to the demat account of allottees on the same day following refund. Hero Motors share price is likely to be listed on and NSE on Wednesday, 23 September.
Hero Motors IPO details
The IPO comprises a fresh issue of shares worth ₹600 crore and an Offer For Sale () of ₹400 crore.
At the upper end of the price band, Hero Motors will have a market capitalisation of ₹3,815 crore. Following the OFS, the promoter holding will decline to 61.63% from 85.57% earlier.
The company plans to use the fresh issue proceeds to reduce debt and purchase equipment to expand its facility in Uttar Pradesh.
ICICI Securities, DAM Capital and JM Financial are the book-running lead managers for the issue, while Kfin Technologies is the registrar.
Company details
Hero Motors Limited is an Indian automotive technology company engaged in the design, development, manufacturing and supply of highly engineered powertrain solutions for automotive original equipment manufacturers (OEMs) across the US, Europe, India and the ASEAN region.
The company has a diversified product portfolio catering to various mobility applications, including two-wheelers, performance vehicles, e-bikes, off-road vehicles, electric and hybrid cars, heavy-duty vehicles and electric vertical take-off and landing (eVTOL) aircraft.
Hero Motors supplies powertrain solutions to globally recognised brands, including BMW AG, Ducati Motor Holding S.P.A., Enviolo International Inc., Formula Motorsport Ltd., Hummingbird EV and HWA AG, as well as leading global e-bike manufacturers.
Its capabilities extend beyond automotive applications, with the company also serving aerospace and other emerging mobility segments.
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