Hero Motors IPO

About the company

Hero Motors designs, develops, manufactures and supplies powertrain systems and components to automotive original equipment manufacturers (OEMs). Its services span design, prototyping, validation and production, with applications across premium motorcycles, performance cars, e-bikes, off-road vehicles, electric and hybrid vehicles, and aerospace. The company began operations in 2001 in alloys and metallics and subsequently expanded into gears, transmissions and electric powertrains. Customers include BMW, Ducati, Hero MotoCorp, Enviolo, Formula Motorsport and HWA. The company operates through powertrain solutions and Alloys and Metallics (A&M). Powertrain solutions contributed ₹637.75 crore, or 53.6%, and A&M ₹550.60 crore, or 46.3%. Within Powertrain solutions, gears and transmissions generated ₹488.88 crore and bike powertrain ₹148.87 crore. Products include gear sets, gearboxes, continuously variable transmission (CVT) hubs, electric motors and integrated electric drive units (EDUs), alongside sheet-metal, tubular and machined components. EV-related sales accounted for 23% of FY26 revenue, compared with 12% in FY24. As of 31st March 2026, Hero Motors operated six manufacturing and assembly facilities: four in India and one each in the United Kingdom and Thailand. It also operated technology centres in Southam, UK, and Gautam Buddha Nagar, India. Its Gautam Buddha Nagar facility had an installed capacity of 72.67 lakh powertrain parts and 2.06 crore sheet-metal parts; utilisation was 88.2% and 74.9%, respectively, measured against annual average available capacity. Two additional facilities in Ludhiana and the Bengaluru region were being established at the RHP date. India contributed 58.6% of FY26 revenue, Europe including the UK 33.5%, the US 3.8%, and other markets 3.9%. The top one customer contributed 35.5% of revenue in FY26, down from 38.01% in FY24; the top five customers contributed 61.4%, and the top 10 customers contributed 72.8%. The average relationship tenure with the top five customers exceeds 12 years. Key long-standing customers include Hero MotoCorp (25 years), a European premium two-wheeler OEM (15 years), and Ducati (10 years). Hero Motors operates in automotive powertrain systems and precision components, with additional exposure to metal assemblies. Gears and transmissions transfer power to the wheels, while electric motors, CVT hubs and integrated drive units serve electric mobility and e-bikes. Demand reflects vehicle production, premiumisation, electrification and the adoption of complete system solutions by OEMs. The gears and transmissions market across selected applications in India, the US, EU and ASEAN is estimated at ₹3.4 lakh to ₹3.5 lakh crore in CY25, rising to ₹4.85 lakh to ₹4.95 lakh crore by CY31, at a projected 6 to 8% CAGR. The CVT-hub market for bicycles and e-bikes across those regions plus Japan is projected to grow from ₹500 to ₹700 crore to ₹3,500 to ₹3,700 crore over the same period, at 33 to 38% CAGR. E-bike adoption, easier shifting, quieter operation and technological improvements are identified as CVT demand drivers. Hero Motors serves these markets through high-end OEM partnerships, Hewland's design strength, enviolo-based CVT products, and motor/ESYNC technology associated with Yamaha. Hero Motors' EV-related sales rose from ₹128.09 crore in FY24 to ₹273.29 crore in FY26. Hero Motors is looking to strengthen its value proposition and ramp up powertrain production in Gautam Buddha Nagar, aligning product development and investments with these industry opportunities. Now, Hero Motors is launching its initial public offering (IPO), which consists of a fresh issue of ₹600 crore and an offer for sale of ₹400 crore. The total issue size of IPO is ₹1,000 crore. Its shares will be listed on the NSE and BSE. How to apply for Hero Motors IPO? If you are interested in this investment opportunity but unsure how to apply for an Hero Motors IPO, follow these steps. When the public issue opens for subscription, one can follow this step-by-step guide on how to apply for the Hero Motors IPO on Upstox: - - Log in to your Upstox account, using your six-digit PIN - After logging in, click on ‘Discover’ - On the ‘Discover’ tab, you will find the ‘Invest in IPO’ section - Under the Invest in IPO section, look for the ‘Hero Motors IPO’ tab and click on it - Now fill in all the required information, like ‘bid price’ and ‘lot size’ - Confirm and click on ‘Apply’ - Accept the mandate on your UPI app

GMP trend (Grey Market Premium by date)

Financial performance (₹ Cr)

Subscription breakup (final, times)

IPO Roadmap / Timeline

1. IPO Opens

   Completed
   16 Sept 2026

   Bidding starts for all investor categories

2. IPO Closes

   Completed
   18 Sept 2026

   Last day to place your bid

3. Basis of Allotment

   Completed
   21 Sept 2026

   Share allotment finalised

4. Refund Initiation

   Completed
   22 Sept 2026

   Refunds credited for non-allottees

5. Credit to Demat

   Completed
   22 Sept 2026

   Allotted shares credited to demat account

6. Listing on Exchange

   Completed
   23 Sept 2026

   Shares list on NSE / BSE

Post-close dates are indicative as per SEBI T+3 listing framework and may change per registrar updates.