Hero Motors shares rise nearly 7% after weak market debut
Hero Motors stock opened at ₹82 on NSE, a 2.4% discount to its IPO price of ₹84, before recouping losses to trade 6.5% higher at ₹89.11
Shares of Hero Motors surged 6.5% on Wednesday following the Indian auto parts company's $104.2 million initial public offering. The stock launched at ₹82 on the National Stock Exchange, 2.4% below its IPO price of ₹84, before bouncing back to trade 6.5% higher at ₹89.11 by 10:15 a.m. IST. The company was valued at approximately ₹4,006 crore ($418.95 million) at that price.
Hero Motors, a supplier to automakers like BMW and Ducati, raised ₹1,000 crore through the IPO, which included a fresh share issue of ₹600 crore and a ₹400 crore offer from existing shareholders. The IPO saw strong demand, with qualified institutional buyers purchasing 1.49 times the shares they were allotted and non-institutional and retail investors subscribing 9.86 times and 8.23 times, respectively.
The firm aimed to use the funds to cut debt and expand a manufacturing plant in Uttar Pradesh. India's IPO market has shown renewed vigor in the latter half of 2026, following a lull due to geopolitical tensions and market instability earlier in the year.
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