Hero Motors IPO allotment status: How to check online on NSE, BSE, KFin Technologies; listing date, time revealed

The basis of allotment for Hero Motors Ltd, which makes auto components, is expected to be finalised on Monday, September 21. The bid finalisation details will be available on the NSE, the BSE and KFin Technologies websites.

The initial public offering was subscribed 6.66 times, as it got bids for 58,97,26,638 shares compared to 8,86,07,596 shares on offer, as per the NSE data.

The quota for non-institutional investors was subscribed 9.86 times, while the category for retail investors was booked 8.23 times. The part reserved for qualified institutional buyers (QIBs) was subscribed 1.49 times.

The ₹1,000 crore initial share sale was a mix of a fresh issuance of 7.14 crore shares worth ₹600 crore and an offer-for-sale (OFS) component of ₹400 crore by promoters OP Munjal Holdings and Hero Cycles.

Of the fresh issue proceeds, ₹190 crore is kept aside for repayment or prepayment of certain outstanding borrowings, while ₹200 crore will be used to purchase equipment required for capacity expansion at the firm's facility in Gautam Buddha Nagar, Uttar Pradesh.

The remaining funds will be utilised for inorganic growth via unidentified acquisitions and other strategic initiatives, besides corporate general purposes.

Hero Motors is an automotive technology firm involved designing, developing, manufacturing and supplying engineered powertrain solutions to automotive original equipment manufacturers (OEMs) in Europe, the US, India and the Association of Southeast Asian Nations (ASEAN) region.

Hero Motors IPO allotment date and time

Hero Motors IPO allotment status is likely to be finalised on Monday, September 21, by late evening.

How to check Hero Motors IPO allotment status online on NSE

• Open this page: https://www.nseindia.com/invest/check-trades-bids-verify-ipo-bids
• Select ‘Equity & SME IPO bid details’
• Choose 'HEROMOTORS' from the 'Select Symbol' list
• Enter your application number or PAN details
• Press the 'Submit' button

Steps to check Hero Motors IPO allotment status online on BSE

• Visit BSE's allotment status page: https://bseindia.com/investors/appli_check.aspx
• Keep issue type as 'Equity'
• From the ‘Issue Name’ section, pick ‘Hero Motors Ltd’
• Add your PAN or IPO application number
• Click on the ‘Search’ button

Hero Motors IPO allotment status online on KFin Technologies website; full steps

• Go to the registrar's allotment page: https://ipostatus.kfintech.com/
• In the ‘Select IPO’ section, pick 'Hero Motors Ltd'
• Identify yourself using the IPO application number, PAN or Demat account number
• Hit the 'Submit' button

Hero Motors IPO listing date and time

Shares of Hero Motors will be listed on the NSE and the BSE on Wednesday, September 23, at 10 am.