Hero Motors IPO Subscription
ListedUpdated 23 September 2026, 9:15 AM IST· Mainboard
Hero Motors IPO subscription closed on 18 September 2026 at 7.08x overall by shares. QIB demand came in at 1.59x, NII at 10.48x, and retail at 8.76x. See Retail, SHNI, and BHNI allotment chances in the table below.
Allotment date is 21 September 2026. Listing date on NSE and BSE is 23 September 2026.
Hero Motors IPO Day-wise Subscription
Daily QIB, NII, Retail, and overall subscription as bids come in
| Day | QIB | NII | Retail | Overall |
|---|---|---|---|---|
| Day 1 - 16 Sept 2026 | 0.01x | 1.33x | 2.38x | 1.48x |
| Day 2 - 17 Sept 2026 | 0.07x | 4.14x | 5.34x | 3.58x |
| Day 3 - 18 Sept 2026 | 1.59x | 10.47x | 8.62x | 7.01x |
Hero Motors IPO Allotment Chances
Retail, SHNI, and BHNI chances based on application subscription
Hero Motors IPO allotment chances for Retail, SHNI, and BHNI. All three use lottery when the category is oversubscribed.
| Category | Subscription (Apps) | Allotment Chances |
|---|---|---|
| Retail | 6.77x | 1 in 7 |
| SHNI (Rs 2L to Rs 10L) | 13.16x | 1 in 13 |
| BHNI (above Rs 10L) | 1.69x | 1 in 2 |
Chances use application subscription (how many bids came in), not share or amount figures. If you get allotment, you get at least one lot. Higher subscription means lower chance per PAN.
Check the Hero Motors IPO Allotment Status page from 21 September 2026 for your result.
Hero Motors IPO Subscription by Amount
Category-wise subscription based on amount applied at issue price Rs 84.00
| Category | Amount Offered | Amount Applied | Subscription |
|---|---|---|---|
| QIB | Rs 200.00 Cr | Rs 317.14 Cr | 1.59x |
| FII | - | Rs 53.11 Cr | - |
| DFI | - | Rs 40.04 Cr | - |
| Mutual Funds | - | Rs 203.04 Cr | - |
| Other | - | Rs 20.95 Cr | - |
| NII | Rs 150.00 Cr | Rs 1,571.96 Cr | 10.48x |
| bNII (above Rs 10L) | Rs 100.00 Cr | Rs 861.86 Cr | 8.62x |
| Corporate | - | Rs 34.20 Cr | - |
| Individual | - | Rs 799.92 Cr | - |
| Other | - | Rs 27.74 Cr | - |
| sNII (Rs 2L to Rs 10L) | Rs 50.00 Cr | Rs 710.11 Cr | 14.20x |
| Corporate | - | Rs 6.05 Cr | - |
| Individual | - | Rs 679.81 Cr | - |
| Other | - | Rs 24.25 Cr | - |
| Retail | Rs 350.00 Cr | Rs 3,064.60 Cr | 8.76x |
| Cut-off price | - | Rs 2,733.73 Cr | - |
| Fixed price | - | Rs 330.87 Cr | - |
| Total | Rs 700.00 Cr | Rs 4,953.70 Cr | 7.08x |
Hero Motors IPO Subscription by Applications
Category-wise subscription based on applications received
| Category | Applications Offered | Applications Received | Subscription |
|---|---|---|---|
| QIB | 2,38,09,525 | 2,098 | 0.00x |
| FII | - | 32 | - |
| DFI | - | 1,847 | - |
| Mutual Funds | - | 7 | - |
| Other | - | 212 | - |
| NII | 7,166 | 39,513 | 5.51x |
| bNII (above Rs 10L) | 4,777 | 8,077 | 1.69x |
| Corporate | - | 189 | - |
| Individual | - | 7,617 | - |
| Other | - | 271 | - |
| sNII (Rs 2L to Rs 10L) | 2,389 | 31,436 | 13.16x |
| Corporate | - | 209 | - |
| Individual | - | 30,105 | - |
| Other | - | 1,122 | - |
| Retail | 2,34,082 | 15,83,744 | 6.77x |
| Cut-off price | - | 14,04,245 | - |
| Fixed price | - | 1,79,499 | - |
| Total | 2,40,50,773 | 16,25,355 | 0.07x |
What Do These Subscription Numbers Mean?
7.08x overall by shares means bids covered about 7 times the shares on offer. Allotment chances depend on applications in each category.
QIB at 1.59x by shares shows institutional demand from mutual funds, FIIs, and banks.
NII covers bids above Rs 2 lakh (5.51x by applications). Split: SHNI 13.16x, BHNI 1.69x by applications. SHNI and BHNI allotment is by lottery.
At 6.77x subscription by applications, about 1 in 7 retail applicants may get allotment (~15% chance per application). Retail allotment is also by lottery.
Hero Motors IPO Key Dates
| Event | Date |
|---|---|
| IPO Open Date | 16 September 2026 |
| IPO Close Date | 18 September 2026 |
| Allotment Date | 21 September 2026 |
| Refund Initiation | 22 September 2026 |
| Share Credit to Demat | 22 September 2026 |
| Listing Date | 23 September 2026 |
| Minimum Investment | Rs 14,952.00 |
| Lot Size | 178 shares |
About Hero Motors IPO
Incorporated in 1998, Hero Motors Limited is one of India's premier automotive technology companies, specializing in the design, engineering, precision manufacturing, and supply of advanced powertrain solutions for automotive original equipment manufacturers (OEMs) across India, the United States, Europe, and the ASEAN region. The company's portfolio spans two key business divisions: Powertrain Solutions (gears, transmissions, hub motors, and e-transmissions) and Alloys and Metallics (lightweight alloy and steel assemblies). Serving two-wheelers, e-bikes, performance automotive, and off-road mobility, Hero Motors supplies global marquee customers including BMW AG, Ducati Motor Holding S.
Understanding Subscription Categories
QIB - Qualified Institutional Buyers
Includes foreign institutional investors, domestic financial institutions, mutual funds, and other qualified institutions. QIB demand is considered the most reliable indicator of institutional confidence in an IPO.
NII - Non-Institutional Investors (SHNI & BHNI)
Investors bidding above Rs 2 lakh. Split into SHNI (Rs 2 lakh to Rs 10 lakh) and BHNI (above Rs 10 lakh). Both use lottery allotment when oversubscribed.
Retail - Retail Individual Investors
Investors bidding up to Rs 2 lakh per PAN. Allotment is by lottery when oversubscribed. Winners get at least one lot.
Hero Motors IPO IPO Pages
Open related pages for this IPO: details, GMP, subscription, allotment, review, FAQ, registrar, timeline, and news.
Hero Motors IPO Details
Issue size, price, financials, and company info
Hero Motors IPO GMP
Live grey market premium and listing estimate
Hero Motors IPO Subscription
QIB, NII, Retail, SHNI and BHNI subscription
Hero Motors IPO Allotment
Allotment date, chances, and check by PAN
Hero Motors IPO Review
SWOT, strengths, risks, and IPO review
Hero Motors IPO FAQ
Common questions on dates, GMP, and allotment
Hero Motors IPO Registrar
Registrar website and how to check allotment
Hero Motors IPO Timeline
Open, close, allotment, and listing dates
Hero Motors IPO News
Updates, blogs, and latest IPO news
Hero Motors IPO Subscription FAQs
What is Hero Motors IPO subscription status today?
Hero Motors IPO subscription closed on 18 September 2026 with overall subscription of 7.08x (by shares) as of 12 October 2026, 5:47 AM IST. QIB 1.59x, NII 5.51x, Retail 6.77x.
What is the overall subscription of Hero Motors IPO?
Hero Motors IPO is subscribed 7.08x overall by shares at close on 18 September 2026. QIB 1.59x, NII 5.51x, and Retail 6.77x.
What is Hero Motors IPO QIB subscription?
Hero Motors IPO QIB (Qualified Institutional Buyers) subscription is 1.59x by shares. QIB includes mutual funds, FIIs, banks, and other institutions.
What is Hero Motors IPO Retail subscription?
Hero Motors IPO Retail subscription is 6.77x by applications. Retail bids are up to Rs 2 lakh per PAN.
What is Hero Motors IPO NII, SHNI, and BHNI subscription?
Hero Motors IPO NII subscription is 5.51x by applications. NII is bids above Rs 2 lakh, split into SHNI (Rs 2L to Rs 10L) at 13.16x and BHNI (above Rs 10L) at 1.69x.
What are Hero Motors IPO retail allotment chances?
At 6.77x subscription by applications, about 1 in 7 retail applicants may get allotment (~15% chance per application). Allotment is by lottery. Share subscription was 8.76x. Allotment chances use applications, not share volume.
What are Hero Motors IPO SHNI allotment chances?
At 13.16x subscription by applications, about 1 in 13 SHNI applicants may get allotment (~8% chance per application). Allotment is by lottery. Share subscription was 14.20x. Allotment chances use applications, not share volume.
What are Hero Motors IPO BHNI allotment chances?
At 1.69x subscription by applications, about 1 in 2 BHNI applicants may get allotment (~59% chance per application). Allotment is by lottery. Share subscription was 8.62x. Allotment chances use applications, not share volume.
When is Hero Motors IPO allotment date?
Hero Motors IPO allotment date is 21 September 2026. Check Hero Motors IPO Allotment Status on IPOwiz from that day using your PAN.
When does Hero Motors IPO subscription close?
Hero Motors IPO subscription closed on 18 September 2026. No new applications are accepted after the close.
What is Hero Motors IPO GMP today?
Hero Motors IPO GMP is ₹-3 today (-3.57% over issue price ₹84). See live GMP on the Hero Motors IPO GMP Today page.
What is Hero Motors IPO issue price and lot size?
Hero Motors IPO issue price is ₹84 per share. Lot size is 178 shares. Minimum investment is ₹14,952 per lot. Issue size: ₹1,000.00 Cr.
When is Hero Motors IPO listing date?
Hero Motors IPO listing date is 23 September 2026 on NSE and BSE. Allotment is on 21 September 2026.
How does subscription affect Hero Motors IPO allotment?
In Hero Motors IPO, Retail, SHNI, and BHNI allotment is by lottery when oversubscribed. Chances follow application subscription in each category, not share volume. At 7.08x overall, competition is moderate.
For allotment results from 21 September 2026, visit the Hero Motors IPO Allotment Status page. For listing day updates on 23 September 2026, download the IPOwiz App.
Sources
We match Hero Motors IPO IPO numbers with official sources. For final dates and allotment results, double-check the registrar or exchange.
- SEBIRules for IPO allotment and disclosures in India
- NSEExchange notices, bidding data, and listing updates
- BSEExchange notices and IPO allotment check tools
- RHP / Offer DocumentCheck the company RHP on NSE/BSE or the IPO detail page
- IPO RegistrarRegistrar details are on the allotment page for this IPO
Also read our Editorial Policy, How GMP is calculated, How allotment chances work, and IPO fund allocation.
Reviewed by
Dinesh Agrawal · Lead IPO Analyst
15+ years in Indian markets and IPO research. He reviews subscription data before it goes live.