Hero Motors IPO receives bids for 58.97 crore equity shares; NII portion subscribed 9.86 times on Day 3

Mumbai: The Hero Motors Limited IPO was subscribed 6.66 times on the final day of bidding, reflecting strong demand from investors during the three-day bidding period.

The Hero Motors IPO received bids for 58,97,24,146 equity shares against the total 8,86,07,596 equity shares offered, according to data available on the stock exchanges.

At the issue price of Rs 84 per share, the Hero Motors Limited IPO generated demand of close to Rs 4,953.6 crore.

The Retail Investors portion of the Hero Motors IPO was subscribed 8.23 times, while the Qualified Institutional Buyers (QIB) portion was subscribed 1.49 times.

The Non-Institutional Investors (NII) portion witnessed particularly strong demand and was subscribed 9.86 times on Day 3, the final day of bidding.

The total number of applications received for the Hero Motors Limited IPO stood at 16,26,725, according to the latest data available on the stock exchanges.

With the bidding process concluding, the Hero Motors IPO subscription stood at 6.66 times, with participation recorded across retail, institutional and non-institutional investor categories.