• Retail investors portion subscribed 5.02 times on Day 2
  • Issue closes on Friday, September 18, 2026, for bidding

Mumbai: The Initial Public Offering of Hero Motors Limited was subscribed 3.37 times on the second day of bidding, demonstrating strong demand from retail and non-institutional investors for this IPO.

The issue received bids of 29,81,70,648 equity shares against the offered 8,86,07,596 equity shares, according to data available on the stock exchanges.

Retail Portion and Non-institutional investors portion were subscribed 5.02 times and 3.9 times, respectively. Qualified Institutional Buyers (QIB) was subscribed 0.07 times.

The issue kicked off for subscription on Wednesday, September 16, 2026, and will close for subscription on Friday, September 18, 2026.

Brokerage houses recommend Hero Motors Limited

Leading brokerage firms like Anand Rathi, BP Wealth and Ventura Securities have given their “Subscribe” recommendation to Hero Motors Ltd, which is one of India’s leading automotive technology companies engaged in designing, developing, manufacturing and supplying highly engineered powertrain solutions catering to automotive original equipment manufacturers (OEMs) in United States, Europe, India and ASEAN region.

Anand Rathi highlights the company is an India-based automotive technology company engaged in designing, developing, manufacturing and supplying highly engineered powertrain solutions to automotive original equipment manufacturers (OEMs) across the United States, Europe, India and ASEAN.

On the valuation front, at the upper price band, the company is valued at a P/E of 92.6 times and EV/EBITDA of 34.38 times with its FY26 earnings. Recommend “Subscribe – Long Term”.

BP Wealth highlights the company primarily operates as a B2B supplier to OEMs and provides capabilities across the powertrain value chain, including design, development, prototyping, validation, and manufacturing.

On the valuation front, at the upper price band, the stock is valued at a P/E of 73.7 times FY26, based on diluted EPS of Rs. 1.1. Considering the company’s expanding e-mobility portfolio, global OEM relationships, investments in technology and manufacturing capabilities and strong improvement in profitability, the company’s growth prospects remain favourable. Recommend “SUBSCRIBE”.