Hero Motors IPO Subscription Status Day 3: Issue Subscribed 4.45x as Bidding Closes Today
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Hero Motors IPO Subscription Status: The ₹1,000-crore issue was subscribed 4.45x on the final day of bidding, with NII demand at 5.45x and QIB subscription at 3.70x.
The Hero Motors IPO entered its final day of bidding on Friday with the issue subscribed 4.45 times, as non-institutional investors continued to account for the bulk of demand.
The ₹1,000-crore public issue had ended Day 2 with subscription of 3.84x. On the final day, the NII portion was subscribed 5.45x, while the QIB portion stood at 3.70x. Retail subscription remained at 0.07x.
The IPO opened for subscription on September 16 and closes on September 18. The issue comprises a fresh issue worth ₹600 crore and an offer for sale of ₹400 crore.
Hero Motors IPO Subscription Status Day 3
Demand strengthened further on the final bidding day, taking overall subscription above four times the shares on offer. The NII category recorded the highest subscription, while QIB participation also moved well above the shares reserved for the segment.
Day | QIB | Retail | NII | Total |
|---|---|---|---|---|
Day 3 | 3.70x | 0.07x | 5.45x | 4.45x |
Hero Motors IPO Subscription Status
The cumulative subscription shows a sharp increase in demand over the three-day offer period. Subscription rose from 1.23x on the opening day to 3.84x on Day 2 before reaching 4.45x on the final day.
Day | QIB | Retail | NII | Total |
|---|---|---|---|---|
Day 1 | 0.96x | 0.01x | 2.20x | 1.23x |
Day 2 | 3.33x | 0.06x | 4.97x | 3.84x |
Day 3 | 3.70x | 0.07x | 5.45x | 4.45x |
Hero Motors IPO Bidding Details
The ₹1,000-crore offer consists of a fresh issue and an OFS. Proceeds from the fresh issue are earmarked for debt repayment, capacity expansion at the Gautam Buddha Nagar facility and other stated corporate purposes.
Investor Category | Shares Offered |
|---|---|
QIB | 2,53,16,456 |
Retail | 4,43,03,798 |
NII | 1,89,87,342 |
Employee | To be updated |
Total | 8,86,07,596 |
Hero Motors IPO Subscription Rate
The NII segment recorded the highest subscription among the disclosed investor categories, followed by QIBs. Retail participation remained below the shares reserved for the category.
Category | Subscription Rate |
|---|---|
QIB | 3.70x |
Retail | 0.07x |
NII | 5.45x |
Total | 4.45x |
The Hero Motors IPO closes on September 18, after which the basis of allotment is expected to be finalised on September 21. Refunds and credit of shares to successful applicants are scheduled for September 22, with listing on the BSE and NSE expected on September 23.
Also Read - ArMee Infotech To Launch ₹300-Crore IPO On 23 September At ₹350-375 Per Share
This article is for informational purposes only and should not be considered investment advice from Kotak Neo. For compliance T&C and disclaimers, Visit www.kotakneo.com/disclaimer
Rochelle Britto has spent 8+ years decoding India's markets, businesses, and consumer economy, reporting for ET Prime and Times Internet along the way, covering the stories behind the numbers.
A Mumbai native and perpetual planner of the next holiday, she stays far, far away from the eternal question, “Where are we going next?” When she's not chasing headlines, she's chasing new cultures, open roads, and a bit of quiet in nature.
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