Hero Motors, Jindal Supreme, SS Retail IPOs open for subscription; check price band, lot size and key details

The mainboard initial public offerings of SS Retail, Jindal Supreme (India) and Hero Motors opened for subscription on Wednesday, September 16.

The issues will conclude on September 18. Shares of the three companies will be listed on the National Stock Exchange (NSE) and the BSE on September 23.

SS Retail IPO

SS Retail's ₹500 crore IPO has fixed a price band of ₹403 to ₹424 per share. A lot consists of 35 shares.

The initial share sale is a combination of a fresh issue of ₹360 crore and an offer for sale (OFS) component of ₹140 crore.

Under the OFS, promoters Siddharth Gunvant Shah, Harshal Kishor Parekh, Deepa Siddharth Shah and Bhavini Harshal Parekh, and investor Rakhi Narendra Firodia will offload their stake.

The funds raised will be used for fit-outs towards setting up new stories in the financial year 2026-27 and fiscal year 2028, part-funding incremental working capital requirements, and corporate general purposes.

Prior to the IPO, the company mobilised ₹146.4 crore from 14 anchor investors, including Kotak Mahindra AMC, SBI Mutual Fund, Axis Mutual Fund, WhiteOak Capital, Motilal Oswal AMC, ICICI Prudential AMC, Invesco, Bengal Finance, Aditya Birla Sun Life AMC and Kotak Mahindra Life Insurance.

Jindal Supreme IPO

The initial share sale of steel pipes maker Jindal Supreme (India) Ltd has set a price band of ₹88 to ₹93 per share.

The issue is a mix of a fresh issuance of 1.07 crore equity shares totalling ₹99.89 crore and an offer for sale (OFS) component of 26.86 lakh shares worth ₹24.99 crore by promoter group entity VVJ Enterprise Pvt Ltd.

The money raised will be utilised for debt repayment and general corporate purposes.

Retail investors can apply for a minimum of 161 shares and in multiples thereafter.

Before the IPO, the company mobilised ₹37.46 crore in the anchor round from investors, including Craft Emerging Market Fund PCC, Minerva Emerging Opportunities Fund and Ekamya Pragati Scheme.

Hero Motors IPO

The initial public offering of auto parts manufacturer Hero Motors has fixed a price range of ₹79 to ₹84 per share, and an application size consists of one lot or 178 shares.

The IPO, which is seeking to raise ₹1,000 crore, is a mix of a fresh issue of equity shares valued at ₹600 crore and an OFS worth ₹400 crore by promoters Hero Cycles Ltd and OP Munjal Holdings.

Fresh issue proceeds will be used for debt clearance, to purchase equipment required for capacity expansion at the company's Gautam Buddha Nagar facility, inorganic growth via unidentified acquisitions and general corporate purposes.

The firm garnered ₹299.99 crore from anchor investors, including ICICI Prudential Life Insurance, 3P India Equity Fund 1M, Edelweiss Life Insurance, Societe Generale, ASAS Global Fund Incorporated VCC Sub Fund, ICICI Prudential Mutual Fund, JM Financial Mutual Fund, Kotak Mahindra Mutual Fund and Bank of India Mutual Fund.