Hero Motors IPO price band: The Hero Motors Limited IPO price band has been fixed in the range of ₹79 to ₹84 per equity share of the face value of ₹10. The Hero Motors IPO date of subscription is scheduled for Wednesday, 16 September and will close on Friday, 18 September. The allocation to anchor investors for the Hero Motors IPO is scheduled to take place on Tuesday, 15 September.
The Hero Motors IPO lot size is 178 equity shares and in multiples of 178 equity shares thereafter.
Hero Motors IPO has reserved not more than 50% of the shares in the public issue for qualified institutional buyers (QIB), not less than 15% for non-institutional Institutional Investors (NII), and not less than 35% of the offer is reserved for retail investors.
Tentatively, Hero Motors IPO basis of allotment of shares will be finalised on Monday, 21 September and the company will initiate refunds on Tuesday, 22 September, while the shares will be credited to the demat account of allottees on the same day following refund. Hero Motors share price is likely to be listed on BSE and NSE on Wednesday, 23 September.
The IPO comprises a fresh issue of shares worth ₹600 crore and an Offer For Sale (OFS) of ₹400 crore.