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Hero Motors IPO Subscription Status

Q: What is the current subscription status of Hero Motors IPO?

As of IPO close date (18 Sep, 2026), the Hero Motors IPO is subscribed 6.66x times. Retail category is 8.23x, and NII is 9.86x subscribed.

Q: When is the allotment date for Hero Motors IPO?

The allotment for Hero Motors IPO is expected to be finalized on 21 September, 2026.

Q: What is the GMP of Hero Motors?

The Grey Market Premium (GMP) for Hero Motors is currently ₹-3, indicating a potential listing gain of -3.57%.

Q: When will Hero Motors IPO list on the stock market?

Hero Motors is scheduled to list on BSE and NSE on 23 September, 2026.

Q: What are the chances of getting allotment in Hero Motors IPO?

The retail category is oversubscribed at 8.23x, meaning allotment is by lottery. Statistically, approximately 1 in 9 applicants will receive allotment. Applying with multiple family member accounts (each at minimum lot size) improves your cumulative odds.

Q: What does QIB subscription of 1.49x mean for Hero Motors IPO?

Moderate — QIBs have subscribed 1.49x. Institutional demand is present but not overwhelming. Watch for any last-minute QIB surge on the final day.

Q: How to check Hero Motors IPO allotment status?

After the allotment date (21 Sep, 2026), you can check your Hero Motors IPO allotment status on IPO Guru's allotment checker, on the BSE/NSE website using your PAN or application number, or through your broker's app.

Hero Motors IPO was subscribed 6.66 times when bidding closed on 18 Sep 2026: QIB 1.49x, NII 9.86x, Retail 8.23x.

The Hero Motors IPO has been subscribed 6.66x times overall. Retail investors have shown interest with bids for 8.23x the shares available. The Non-Institutional Investor (NII) category has been subscribed 9.86x. Within NII, Big HNI (B-HNI) subscribed 8.11x and Small HNI (S-HNI) subscribed 13.36x. Qualified Institutional Buyers (QIBs) have subscribed 1.49x. Data last updated on 23 Sep, 06:30 PM.

The IPO subscription period has ended. The issue opened on 16 Sep, 2026 and closes on 18 Sep, 2026. The shares are expected to list on stock exchanges on 23 Sep, 2026.

Full details Check GMP

Final subscription

6.66x

15,70,391 applications

Category-wise bids →

QIB

1.49x

Institutions · proportionate allotment

Why QIB matters →

NII / HNI

9.86x

bHNI 8.11x · sHNI 13.36x

HNI allotment odds →

Retail

8.23x

Lottery for 1 lot — about 1 out of 6 win

Retail allotment odds →

Researched & reviewed by Abhishek Vohera, Founder, IPO Guru Last updated 23 Sep 2026, 6:30 PM IST Figures sourced from the RHP, BSE & NSE

Live bidding

Shares bid against shares offered, category by category, as published by the exchanges. Summary splits NII into bHNI (above ₹10 lakh) and sHNI (₹2–10 lakh); switch to Detailed for the exchange's own sub-category rows.

Category	Offered	Applied	Amount (Cr)	Bid details	Times
QIB	2,53,16,456	3,77,55,046	317.14 Cr	3,77,55,046 of 2,53,16,456 17 applications 317.14 Cr	1.49x
1(a) Foreign Institutional Investors (FIIs)		63,22,560	53.11 Cr	63,22,560 53.11 Cr
1(b) Domestic Financial Institutions (Banks/FIs/Insurance)		47,67,018	40.04 Cr	47,67,018 40.04 Cr
1(c) Mutual Funds		2,41,71,332	203.04 Cr	2,41,71,332 203.04 Cr
1(d) Others		24,94,136	20.95 Cr	24,94,136 20.95 Cr
NII	1,89,87,342	18,71,38,520	1,571.96 Cr	18,71,38,520 of 1,89,87,342 38,752 applications 1,571.96 Cr	9.86x
bHNI — bid amount above ₹10 Lakh	1,26,58,228	10,26,02,048	861.86 Cr	10,26,02,048 7,856 applications 861.86 Cr	8.11
2.1(a) Corporates		40,71,750	34.20 Cr	40,71,750 34.20 Cr
2.1(b) Individuals (other than RIIs)		9,52,28,398	799.92 Cr	9,52,28,398 799.92 Cr
2.1(c) Others		33,01,900	27.74 Cr	33,01,900 27.74 Cr
sHNI — bid amount ₹2–10 Lakh	63,29,114	8,45,36,472	710.11 Cr	8,45,36,472 30,896 applications 710.11 Cr	13.36
2.2(a) Corporates		7,20,544	6.05 Cr	7,20,544 6.05 Cr
2.2(b) Individuals (other than RIIs)		8,09,29,302	679.81 Cr	8,09,29,302 679.81 Cr
2.2(c) Others		28,86,626	24.25 Cr	28,86,626 24.25 Cr
Retail	4,43,03,798	36,48,33,072	3,064.60 Cr	36,48,33,072 of 4,43,03,798 15,31,622 applications 3,064.60 Cr	8.23x
TOTAL	8,86,07,596	58,97,26,638	4,953.70 Cr	58,97,26,638 15,70,391 applications 4,953.70 Cr	6.66x

Hero Motors IPO Basis of Allotment

Final Final figures published by the registrar, after technical rejections. Allotment price ₹84.

Applications

15,70,415

Allottees

2,41,287

Overall odds

1 out of 6

Amount collected

₹5,116 Cr

Category	AppsApplications	Shares Applied	Shares Allotted	GotAllottees	Odds
QIB 1.27x subscribed	41	7,58,02,012 ₹636 Cr	5,95,23,808 1.27x subscribed	40	1 out of 11 out of 1
Ex. Anchor Ex. Anchor	17	3,65,16,700	2,38,09,524 · 1.53x	16	8 out of 98 out of 9
Anchor Anchor Investors	24	3,92,85,312	3,57,14,284 · 1.10x	24	AllAll allotted
NII (HNI) 10.24x subscribed	38,752	18,28,50,322 ₹1,535 Cr	1,78,57,143 10.24x subscribed	7,165	1 out of 51 out of 5
bNII >₹10L bNII — above ₹10 Lakh	7,856	9,96,20,548	1,19,04,762 · 8.37x	4,777	2 out of 32 out of 3
sNII <₹10L sNII — below ₹10 Lakh	30,896	8,32,29,774	59,52,381 · 13.98x	2,388	1 out of 121 out of 12
Retail 8.41x subscribed	15,31,622	35,04,54,766 ₹2,943 Cr	4,16,66,667 8.41x subscribed	2,34,082	1 out of 61 out of 6
TOTAL 5.12x subscribed	15,70,415	60,91,07,100	11,90,47,618 5.12x subscribed	2,41,287	1 out of 61 out of 6

Hero Motors IPO allotment probability

Your odds of an allotment in each category at the current subscription.

Retail (up to ₹2 L)

1 out of 6

~16.3% chance per PAN — 15,31,622 applicants for 2,48,897 allotment slots. Winners get exactly 1 lot (₹14,952) by SEBI lottery, however many lots you bid.

Small HNI (₹2–10 L)

1 out of 12

~8.2% chance — 30,896 applicants for 2,539 allotment slots. Lottery allots the minimum S-HNI application of 14 lots (₹2.1 L) per winner; bidding bigger doesn't improve odds.

Big HNI (above ₹10 L)

2 out of 3

~64.7% chance — 7,856 applicants for 5,079 allotment slots. Lottery allots the minimum NII application of 14 lots (₹2.1 L) per winner, the same as S-HNI; any shares left over are allotted proportionately.

QIB (institutions)

1.49x

Proportionate allotment — at 1.49x, institutions receive ~67.1% of their bid. No lottery; not open to individual investors. Moderate institutional demand.

Odds = allotment slots ÷ applications, or the subscription multiple where counts aren't available. Retail and HNI allotment is by lottery; QIB is proportionate. Not investment advice.

Subscription insights

What the current book is saying, read off the category numbers above.

Retail Allotment

Subscription is above 1x. While a lottery is guaranteed, your probability of allotment is approximately 12.2% for a single lot.

Caution Advised

The stock is trading at a discount (-3.57%) in the grey market, signaling potential listing at or below the issue price.

Day-wise subscription history

End-of-day subscription across the 3-day bidding window. On phones, tap a day for the category split.

Date	Total	QIB	BHNI	SHNI	Retail
18 Sep 2026 Day 3	6.66x	1.49x	8.11x	13.36x	8.23x	▼
QIB1.49x BHNI8.11x SHNI13.36x Retail8.23x
17 Sep 2026 Day 2	3.36x	0.07x	2.62x	6.45x	5.02x	▼
QIB0.07x BHNI2.62x SHNI6.45x Retail5.02x
16 Sep 2026 Day 1	1.38x	0.01x	0.72x	2.31x	2.23x	▼
QIB0.01x BHNI0.72x SHNI2.31x Retail2.23x

Hero Motors IPO dates

From the bidding window to listing. Today is 25 October.

Key dates Listed

Open 16 Sep 2026
Close 18 Sep 2026
Allotment 21 Sep 2026
Refund/credit 22 Sep 2026
Listing 23 Sep 2026

Anchor investor allocation

Shares allotted to anchor investors the working day before the issue opened.

#	Anchor Investor	Group Entity	Shares Allotted	Amt (₹ cr.)	% Allocated	% of Issue
1	ICICI PRUDENTIAL SMALLCAP FUND	ICICI PRUDENTIAL MUTUAL FUND	8927590	₹74.99 Cr	25.00%	7.50%
2	KOTAK MULTI ASSET ALLOCATION FUND	KOTAK MAHINDRA MUTUAL FUND	6308854	₹52.99 Cr	17.66%	5.30%
3	BANK OF INDIA SMALL CAP FUND	BANK OF INDIA MUTUAL FUND	3214146	₹27.00 Cr	9.00%	2.70%
4	JM FLEXICAP FUND	JM FINANCIAL MUTUAL FUND	2976160	₹25.00 Cr	8.33%	2.50%
5	KOTAK MNC FUND	KOTAK MAHINDRA MUTUAL FUND	1428272	₹12.00 Cr	4.00%	1.20%
6	ICICI PRUDENTIAL LIFE INSURANCE CO.LTD.	ICICI PRUDENTIAL LIFE INSURANCE	1190820	₹10.00 Cr	3.33%	1.00%
7	3P INDIA EQUITY FUND	3P INDIA	1190820	₹10.00 Cr	3.33%	1.00%
8	EDELWEISS LIFE INSURANCE CO.LTD.	EDELWEISS LIFE INSURANCE	1190820	₹10.00 Cr	3.33%	1.00%
9	INFINITY HYBRID LONG-SHORT FUND	KOTAK MAHINDRA MUTUAL FUND	1190464	₹10.00 Cr	3.33%	1.00%
10	ITI FLEXI CAP FUND	ITI MUTUAL FUND	863122	₹7.25 Cr	2.42%	0.73%
11	ITI MID CAP FUND	ITI MUTUAL FUND	862944	₹7.25 Cr	2.42%	0.72%
12	EDELWEISS BUSINESS CYCLE FUND	EDELWEISS MUTUAL FUND	833396	₹7.00 Cr	2.33%	0.70%
13	UNITY SMALL FINANCE BANK LTD.	UNITY SMALL FINANCE BANK LTD.	595619	₹5.00 Cr	1.67%	0.50%
14	LC PHAROS MULTI STRATEGY FUND VCC-LC PHAROS MULTI STRATEGY FUND SF1	LC PHAROS	595441	₹5.00 Cr	1.67%	0.50%
15	SOCIETE GENERALE	SOCIETE GENERAL	595441	₹5.00 Cr	1.67%	0.50%
16	ASAS GLOBAL FUND INCORPORATED VCC SUB FUND	ASAS GLOBAL	595441	₹5.00 Cr	1.67%	0.50%
17	NAVI FINSERV LTD.	NAVI FINSERV	595441	₹5.00 Cr	1.67%	0.50%
18	JM SMALL CAP FUND	JM FINANCIAL MUTUAL FUND	595232	₹5.00 Cr	1.67%	0.50%
19	EDELWEISS LARGE CAP FUND	EDELWEISS MUTUAL FUND	595232	₹5.00 Cr	1.67%	0.50%
20	JM VALUE FUND	JM FINANCIAL MUTUAL FUND	476150	₹4.00 Cr	1.33%	0.40%
21	EDELWEISS RECENTLY LISTED IPO FUND	EDELWEISS MUTUAL FUND	297438	₹2.50 Cr	0.83%	0.25%
22	THE WEALTH COMPANY FLEXI CAP FUND	THE WEALTH COMPANY MUTUAL FUND	238180	₹2.00 Cr	0.67%	0.20%
23	THE WEALTH COMPANY MULTI ASSET ALLOCATION FUND	THE WEALTH COMPANY MUTUAL FUND	238180	₹2.00 Cr	0.67%	0.20%
24	THE WEALTH COMPANY SMALL CAP FUND	THE WEALTH COMPANY MUTUAL FUND	119081	₹1.00 Cr	0.33%	0.10%
	TOTAL		35,714,284	₹299.98 Cr	100.00%

What does this subscription data mean?

IPO subscription data tells you how much demand exists for the shares being offered, broken down by investor category. Understanding each category helps you gauge the real sentiment behind the numbers:

01 QIB (Qualified Institutional Buyers) — includes mutual funds, FIIs, insurance companies, and banks. QIBs do deep due diligence before bidding. A QIB subscription above 10x is a strong institutional endorsement. Watch QIB numbers closely on the final day — they often hold back and flood in after 3 PM.
02 NII / HNI (Non-Institutional Investors) — high-net-worth individuals bidding above ₹2 lakh. NII allotment is proportionate (not lottery), so higher NII subscription means smaller per-lot allotment. Big HNI (B-HNI) bids above ₹10 lakh; Small HNI (S-HNI) bids ₹2–10 lakh.
03 Retail — individual investors bidding up to ₹2 lakh. When retail is below 1x, everyone who applied gets full allotment. When oversubscribed, SEBI mandates a computerised lottery — only 1 lot per successful applicant regardless of how many lots you apply for.
04 Overall Subscription — a blended multiple across all categories. A total subscription above 10x is considered strong; above 50x is exceptional and usually predicts strong listing gains.

Data sourced from BSE/NSE. Subscription numbers are updated during bidding hours (10 AM – 5 PM IST) on active subscription days.

Frequently asked

What is the current subscription status of Hero Motors IPO?

As of IPO close date (18 Sep, 2026), the Hero Motors IPO is subscribed 6.66x times. Retail category is 8.23x, and NII is 9.86x subscribed.

When is the allotment date for Hero Motors IPO?

The allotment for Hero Motors IPO is expected to be finalized on 21 September, 2026.

What is the GMP of Hero Motors?

The Grey Market Premium (GMP) for Hero Motors is currently ₹-3, indicating a potential listing gain of -3.57%.

When will Hero Motors IPO list on the stock market?

Hero Motors is scheduled to list on BSE and NSE on 23 September, 2026.

What are the chances of getting allotment in Hero Motors IPO?

The retail category is oversubscribed at 8.23x, meaning allotment is by lottery. Statistically, approximately 1 in 9 applicants will receive allotment. Applying with multiple family member accounts (each at minimum lot size) improves your cumulative odds.

What does QIB subscription of 1.49x mean for Hero Motors IPO?

Moderate — QIBs have subscribed 1.49x. Institutional demand is present but not overwhelming. Watch for any last-minute QIB surge on the final day.

How to check Hero Motors IPO allotment status?

After the allotment date (21 Sep, 2026), you can check your Hero Motors IPO allotment status on IPO Guru's allotment checker, on the BSE/NSE website using your PAN or application number, or through your broker's app.

Explore Hero Motors IPO further

Track every stage of this IPO, from subscription to listing.

01 Next step

IPO details

It has listed — go back to the fundamentals.

₹79 to ₹84

Read the full profile

GMP today

Live grey market premium, Kostak and Subject to Sauda, with the day-wise trend.

GMP ₹-3 (-3.57%)

See the grey market

IPO review

What brokers and analysts are saying about this issue, in one place.

Neutral · 9 reviews

See the verdicts

Allotment status

Check with your PAN whether shares were credited to your demat account.

Allotment out · 21 Sep

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Not investment advice. Subscription figures are as published by BSE/NSE and change until bidding closes.

Total

6.66x

QIB

1.49x

NII

9.86x

bHNI

8.11x

sHNI

13.36x

Retail

8.23x

Full IPO details