World · India Bureau
Hero Motors IPO opens September 16 with ₹1,000-crore fundraise target
The auto components manufacturer will launch its three-day initial public offering at a price band of ₹79-₹84 per share, comprising ₹600 crore in fresh equity and ₹400 crore in secondary share sales.
LSN India ·
Hero Motors, a prominent player in India's automotive parts sector, has set September 16 as the opening date for its ₹1,000-crore initial public offering. The company has fixed the price band at ₹79-₹84 per share for the three-day subscription window.
The IPO structure comprises two components: ₹600 crore will be raised through fresh share issuance to strengthen the company's capital base, while ₹400 crore will be generated through an offer for sale of existing shares by current stakeholders.
The fundraise comes as Hero Motors seeks to capitalize on growing investor interest in the automotive components sector, which continues to benefit from India's expanding vehicle manufacturing ecosystem and rising demand for quality auto parts.
Investors can subscribe to the offering during the designated three-day period, with the company expected to announce allotment results and commence trading shortly thereafter, pending stock exchange approvals and regulatory clearances.