Hero Motors targets $401 million valuation in India IPO
Hero Motors logo is seen in this illustration taken July 1, 2025. REUTERS/Dado Ruvic/Illustration
Sept 10 : Indian auto parts maker Hero Motors has set a price band of 79 rupees to 84 rupees ($0.8307-$0.8833) per share for its initial public offering that kicks off next week, a public filing showed early on Thursday.
At the top end of the range, the company is seeking a valuation of about 38.15 billion rupees ($401.16 million).
• The three-day share sale of the $105 million IPO will open on September 16, while anchor investors can submit their bids on September 15.
• The company will issue fresh shares worth up to 6 billion rupees ($63.09 million) while its existing shareholders will sell shares worth up to 4 billion rupees.
• Hero Motors, which counts BMW and Ducati as its clients, is led by Pankaj Munjal. The Munjal family runs India's largest two-wheeler maker by volumes, Hero MotoCorp.
• Proceeds from the IPO will be used to trim debt and fund purchase of equipment to expand its facility in India's Uttar Pradesh state.
• ICICI Securities, JM Financial and DAM Capital are the book running lead managers of the offering.
($1 = 95.1000 Indian rupees)
