Hero Motors Share Price: Stock Lists at a Discount, Hits 20% Upper Circuit on Debut on NSE and BSE

On September 23, 2026, Hero Motors Limited shares made their market debut on the stock exchanges. The stock listed at ₹82.00 on the National Stock Exchange (NSE), reflecting a 2.38% discount over its IPO issue price of ₹84.00.  

On the BSE, it similarly opened weak at ₹82.10, trailing below the set issue parameters before massive buying interest triggered a sharp reversal. 

Despite the flat-to-discounted opening, intense demand entirely flipped the script. As of September 23, 2026, at 12:46 PM, Hero Motors share price on the NSE surged by the maximum permissible daily limit to trade at ₹98.40, hitting its 20.00% upper circuit from its opening price.  

The order book displayed an overwhelming 100% buy interest with a total buy quantity of 1,77,95,997 shares and zero active sellers.  

On the BSE, the stock closely mirrored this trajectory, climbing up by 19.99% from its opening price to trade at ₹98.51, matching its upper band limit for the session. 

Hero Motors Limited IPO Overview 

Hero Motors Limited launched its book built IPO with a total issue size of ₹1,000.00 crore. This includes a fresh issue of 7.14 crore shares worth ₹600.00 crore and an offer for sale of 4.76 crore shares totaling ₹400.00 crore.  

The bidding window opened on September 16, 2026, and closed on September 18, 2026. The final issue price was set at ₹84 per share. The minimum lot size for retail investors was 178 shares, requiring an investment of ₹14,952. ICICI Securities Ltd. served as the book running lead manager, and Kfin Technologies Ltd. managed the issue as the registrar. 

The Hero Motors IPO was subscribed 5.12 times. 

Business Overview of Hero Motors Limited 

Incorporated in April 1998, Hero Motors Limited is an automotive technology company designing, developing, manufacturing, and supplying engineered powertrain solutions to global automotive OEMs.  

Its operations span the United States, Europe, India, and the ASEAN region. The company provides integrated solutions for electric, hybrid, and non-electric powertrains across segments like two-wheelers, performance automotive, e-bikes, and heavy-duty vehicles.  

Backed by strong research and development, it holds a first-mover position in the global e-bike powertrain market and is the only manufacturer in India producing and exporting CVT hubs and integrated electric powertrain products for e-bikes. 

Financial Overview of Hero Motors Limited 

The restated financial performance of Hero Motors Limited reflects consistent growth over the recent fiscal periods. For the financial year ending March 31, 2026, total income reached ₹1,216.74 crore, increasing from ₹1,111.23 crore in March 31, 2025, and ₹1,083.42 crore in March 31, 2024.  

Profit after tax rose significantly to ₹41.17 crore in fiscal 2026 from ₹32.80 crore in fiscal 2025 and ₹17.04 crore in fiscal 2024. EBITDA for fiscal 2026 stood at ₹147.78 crore, while the net worth was reported at ₹482.45 crore, supported by total assets of ₹1,371.83 crore against total borrowings of ₹400.79 crore. 

Objective of Hero Motors Limited IPO 

The net proceeds raised through the fresh issue portion of the IPO are proposed to be deployed towards key corporate growth drivers.  

The company will utilize ₹190.00 crore for the repayment, prepayment, or redemption of certain outstanding borrowings availed by the firm. Capital expenditure for purchasing equipment to expand capacity at the Gautam Buddha Nagar, Uttar Pradesh facility will require ₹200.00 crore.  

Additionally, ₹171.99 crore is allocated for funding inorganic growth via unidentified acquisitions, strategic initiatives, and general corporate purposes, while the estimated issue expenses take up ₹60.25 crore. 

Read More: Jindal Supreme Share Price: Stock Lists at ₹120.00 With a 29.03% Premium on NSE! 

Hero Motors Share Price Performance 

As of September 23, 2026, at 12:46 PM, Hero Motors share price on the NSE was trading at ₹98.40, hitting its 20.00% upper circuit from its opening price of ₹82.00.  

Conclusion 

Hero Motors Limited equity shares opened weak at ₹82.00 on the NSE, down from its expected baseline, but staged a powerful intraday rally. Driven by massive structural demand, the stock completely locked out sellers to hit its 20% upper circuit within hours of its market debut. 

Disclaimer: This article has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute personal investment advice or a recommendation to buy, sell or hold any security. Investors should conduct their own research and consult a SEBI-registered investment adviser before making investment decisions.   

Investments in the securities market are subject to market risks. Read all related documents carefully before investing.