Hero Motors IPO Day 3: Issue booked over 4x so far; here’s how to check allotment status on NSE, BSE, Kfin Tech

Hero Motors' initial public offering (IPO) witnesses steady demand on the last day of subscription, as the issue has been booked 4.17 times so far on Friday, September 18.

Until 11:10 AM, the initial share sale of the firm had received bids for 36.96 crore shares as compared to 8.86 crore shares on offer, as per exchange data.

The non-institutional investor (NII) category was subscribed 5.15 times, while the retail individual investor (RII) segment saw 6.09 times subscriptions. However, the Qualified Institutional Buyers (QIB) portion has been booked 0.07 times.

The IPO includes fresh issues and an offer for sale. The ₹1,000 crore IPO is a book-building issue, comprising a fresh issue of ₹600 crore and an offer for sale of ₹400 crore.

The issue price band has been set between ₹79 and ₹84 per share. Hero Motors IPO lot size for retail individual investors is 178 shares, while the minimum investment is ₹14,952 per lot at the upper end of the price band.

The auto parts making firm had garnered nearly ₹300 crore from anchor investors ahead of its IPO. The company allotted 3.57 crore equity shares to anchor investors at ₹84 apiece, the top end of the IPO price band.

Institutions that participated in the anchor book include ICICI Prudential Life Insurance Company Ltd, 3P India Equity Fund 1M, Edelweiss Life Insurance Company Ltd, Societe Generale and ASAS Global Fund Incorporated VCC Sub Fund, among others.

Additionally, shares were allocated to ICICI Prudential Mutual Fund, Kotak Mahindra Mutual Fund, JM Financial Mutual Fund and Bank of India Mutual Fund.

Shares of Hero Motors will be listed both on the National Stock Exchange and Bombay Stock Exchange.

Hero Motors IPO allotment and listing date

Hero Motors IPO Objective

The money raised from the IPO will be used towards the following objectives:

Steps to check Hero Motors IPO allotment status on NSE

• Visit the NSE IPO allotment status page at https://www.nseindia.com/invest/check-trades-bids-verify-ipo-bids

• Chose ‘Equity & SME IPO bid details’

• Select ‘Hero Motors’ from the list of IPO names.

• Enter your application number and PAN details.

• Click ‘Submit’ to view the status of your IPO allotment.

Steps to check Hero Motors IPO allotment status BSE

• Visit the BSE IPO allotment status page: https://www.bseindia.com/investors/appli_check.aspx

• Select ‘Hero Motors’ as the issue type.

• From the dropdown menu, select ‘Hero Motors’. Identify yourself using either PAN details or the IPO application number.

• Click on the ‘I’m not a robot’ tab and press the ‘Search’ button to see the allotment details.

Steps to check Hero Motors IPO allotment status on KFin Technologies

• Open this link: https://ipostatus.kfintech.com/

• In the ‘Select IPO’ section, pick ‘Hero Motors’

• Enter IPO application number, PAN or Demat account number

• Hit the 'Submit' button

About Hero Motors

Hero Motors designs, develops, manufactures and supplies powertrain systems and components to automotive original equipment manufacturers (OEMs).

Its services span design, prototyping, validation and production, with applications across premium motorcycles, performance cars, e-bikes, off-road vehicles, electric and hybrid vehicles, and aerospace. The firm also operates in automotive powertrain systems and precision components, with additional exposure to metal assemblies.