Hero Motors Shares List At ₹82 On NSE And BSE, At 2.38% Discount To IPO Price

Mumbai, September 23: Hero Motors shares made a discounted debut at ₹82 per share on the NSE and BSE on Wednesday, September 23. The stock listed ₹2 below its final IPO price of ₹84, marking a 2.38% discount at the start of trading.

The listing came after the company’s ₹1,000 crore IPO, which comprised a fresh issue of 7.14 crore shares worth ₹600 crore and an offer for sale of 4.76 crore shares worth ₹400 crore. The issue was subscribed 7.01 times overall.

Hero Motors Shares List At ₹82 Against ₹84 IPO Price

Hero Motors shares opened at ₹82 on the NSE and BSE, compared with the final issue price of ₹84 per share.

The listing price represented a ₹2 discount to the IPO price, translating into a 2.38% decline for investors who received shares at the issue price.

The company had fixed the IPO price band at ₹79–84 per share and finalised the issue price at the upper end of the band.

Shares Rise To ₹96.67 By 10:26 AM

After opening at ₹82, Hero Motors shares moved above the listing price during the morning session. At 10:26 AM IST on September 23, the stock was trading at ₹96.67.

At this level, the shares were ₹14.67, or 17.89%, above the listing price of ₹82. Compared with the IPO price of ₹84, the stock was trading ₹12.67, or 15.08% higher.

The market snapshot showed trading volume of 2,73,437 shares at the time.

₹1,000 Crore IPO Included Fresh Issue And OFS

Hero Motors raised ₹1,000 crore through a combination of fresh issue and offer for sale.

The fresh issue comprised 7.14 crore shares aggregating ₹600 crore, while the OFS involved 4.76 crore shares worth ₹400 crore. The issue therefore included both new capital for the company and shares offered by existing shareholders.

IPO Received 7.01 Times Overall Subscription

The Hero Motors IPO received total bids for 58.39 crore shares against 8.33 crore shares offered to investors, resulting in an overall subscription of 7.01 times.

The QIB portion, excluding the anchor allocation, was subscribed 1.59 times. The NII category received 10.47 times subscription, while the retail portion was subscribed 8.62 times.

The issue received 16,26,725 applications by the close of bidding on September 18.

Retail Investors Had 8.62 Times Subscription

Retail investors were offered 4.16 crore shares and placed bids for 35.92 crore shares, resulting in subscription of 8.62 times.

Within the NII segment, applications above ₹10 lakh were subscribed 8.62 times, while the portion below ₹10 lakh received 14.17 times subscription.

The QIB category had 2.38 crore shares available excluding the anchor portion and received bids for 3.78 crore shares.

Minimum Retail Application Was ₹14,952

The minimum retail application was fixed at 178 shares. At the IPO price of ₹84 per share, investors were required to apply for a minimum of ₹14,952.

The IPO also had an anchor allocation of 3.57 crore shares, accounting for ₹300 crore of the issue.

Hero Motors Debut Follows ₹1,000 Crore IPO

The NSE and BSE listing marks the completion of Hero Motors’ IPO process, which opened for subscription on September 16 and closed on September 18.

While the shares started trading at ₹82, below the ₹84 issue price, the stock moved to ₹96.67 by 10:26 AM IST. The listing-day movement followed an IPO that attracted 7.01 times overall subscription.

Source:

• https://www.bseindia.com/stock-share-price/hero-motors-ltd/heromotors/544936