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Hero Motors IPO Review

Hero Motors IPO has been reviewed by 6 analysts, and the overall consensus is Neutral — carrying a score of 45. Out of the 6 analysts who have covered this IPO, 1 recommend subscribing while 5 advise caution or avoidance — reflecting a mixed view from the analyst community.

The issue is priced in the band of ₹79-84 per share, with a minimum application size of 178 shares (minimum investment of approximately ₹14,952 at the upper band). Subscription ran from 16 Sep 2026 to 18 Sep 2026. The issue size is ₹1,000 crore, a mix of fresh issue and offer for sale. As of now, the grey market premium (GMP) for Hero Motors IPO is quoting at ₹-3 (-3.57%), which gives a preliminary sense of how the street is pricing the listing — though GMP is unofficial and can swing sharply before the listing date. Scroll down for the full analyst breakdown and analyst-wise verdicts.

Abhishek Vohera, Founder of IPO Guru Researched & reviewed by Abhishek Vohera, Founder, IPO Guru Last updated Figures sourced from the RHP, BSE & NSE

Analyst verdict & score

One score out of 100, aggregated from every analyst verdict tracked for this issue. How it's calculated

Sentiment score
45/ 100
Neutral 1 of 6 recommend subscribing
How analysts voted
Apply 1
May apply 1
Neutral 3
Avoid 1

Higher consensus indicates broader analyst agreement.

Detailed review

What the analyst reports say, grouped by the question you're likely asking.

General review

Hero Motors is an automotive technology and components company across powertrain solutions and alloys and metallics, supplying global OEMs including BMW and Ducati and growing in e-mobility, electric bikes and premium two-wheelers. FY26 income was ₹1,216.74 crore with profit of ₹41.17 crore. Views were split: one subscribe, one caution, one neutral and one avoid.

Listing gains

Valuation drove the split. The notes price the issue between about 73.7 times FY26 diluted earnings of ₹1.1 per share and roughly 93 times on a post-issue basis, with a market cap near ₹3,815 crore. One analyst said avoid specifically on the demanding valuation, which pointed to a muted listing.

Short-term strategy

Profit rose from ₹32.80 crore to ₹41.17 crore in FY26 and EBITDA to ₹147.78 crore, but revenue grew under 10 percent. Fresh money repays borrowings and funds unidentified acquisitions. Europe gave 33.6 percent of FY26 revenue, so demand there directly affects near-term results.

Long-term strategy

The positive notes rest on complete e-mobility powertrain solutions, e-transmissions, micro-mobility, and the Hewland engineering and validation capabilities. The cautious view centres on concentration: the top customer gave 36 percent of revenue and the top five 61 percent, which analysts see as a risk to long-term stability.

How this is written: an AI-assisted summary of the 6 analyst reports listed below. It reports their views; IPO Guru does not make buy or sell recommendations.

Analyst reviews

Ordered by each analyst's track record over the past year; analysts still building one are listed last.

Latest IPO reviews

How analysts rated the most recent mainboard issues — and, where they have listed, how the call played out.

Frequently asked

Should I apply for Hero Motors IPO?

The analyst consensus for Hero Motors IPO tracked on this page is Neutral, with a score of 45/100. Out of 6 analysts who have reviewed this IPO, 1 recommend subscribing. IPO Guru does not make buy or sell recommendations. Read the individual analyst reports and consult a SEBI-registered advisor before investing.

What does the score of 45 mean for Hero Motors IPO?

The score of 45 is an aggregate of all analyst ratings tracked for Hero Motors IPO. A score in this range reflects mixed views — some analysts are positive while others are cautious. Read the individual analyst verdicts above for more context.

What was the actual listing price of Hero Motors IPO?

Hero Motors IPO listed on September 23, 2026 at ₹82, against the issue price of ₹84 — a loss of -2.38% (₹2 per share). View the full GMP history page for day-wise pre-listing trends.

What is the price band and lot size of Hero Motors IPO?

Hero Motors IPO was priced at ₹79-84 per share. The minimum lot size is 178 shares, making the minimum investment approximately ₹14,952 at the upper end of the price band. Subscription ran from 16 Sep 2026 to 18 Sep 2026.

Explore Hero Motors IPO further

Analyst views are one input. Read them alongside the demand, the grey market and the filings before you decide.

Hero Motors IPO review

A verdict is an opinion, not a guarantee.

IPO Guru collects analyst views, GMP, subscription and allotment for every Mainboard and SME issue. Weigh them together — and against the offer document — before you apply.

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Disclaimer: Grey Market Premium (GMP) is for information purposes and is not a guarantee of listing price. Always consult your financial advisor before investing.

Consensus
Neutral
Score
45 / 100
Listed at
₹82
Full IPO details