Hero Motors fixes IPO price band at Rs 79-84 for Rs 1,000-crore issue. Know important dates, other details
Hero Motors has announced an initial public offering (IPO) price range between Rs 79 and Rs 84, set to open for subscription on Wednesday, September 16. Anchor investors have the opportunity to place their bids a day prior to the public offering. The funds generated through the IPO are earmarked for reducing debt and expanding facilities. The company's stock market debut is slated for September…
Hero Motors has set the price range for its Rs 1,000-crore IPO at Rs 79 to Rs 84 per share, giving the company a valuation of Rs 3,815 crore at the higher end. The public offer will be open for subscription from September 16 to 18. Each share has a face value of Rs 10, and anchor investors can place their bids a day early, on September 15.
The issue includes a fresh issue of Rs 600 crore and an Offer For Sale (OFS) of Rs 400 crore, with a lot size of 178 shares. Retail investors are allocated 35% of the issue, while institutional investors receive 50%, and the rest goes to non-institutional investors. At the upper price band, Hero Motors would have a market capitalisation of Rs 3,815 crore.
Post the OFS, the promoter's stake would drop to 61.63% from 85.57%. The IPO's Price-to-Earnings (P/E) ratio ranges from 69.30x to 73.68x, and its 3-year weighted average Return on Net Worth (RoNW) stands at 7.58%. Hero Motors shares will list on September 23, following the allotment of shares on September 21 and crediting to investors' demat accounts on September 22.
The book runners for the IPO are ICICI Securities, DAM Capital, and JM Financial, with Kfin Technologies as the registrar.
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- Hero Motors Readies ₹1,000 Crore Market Debut, IPO Price Band Fixed At ₹79-84 freepressjournal.in
