Hero Motors IPO Subscription Status
Final figures at close of bidding: 23 Sept 2026, 6:30 pm IST
| Category | Subscription |
|---|---|
| QIB | 1.59x |
| NII | 10.47x |
| sNII (₹2L–₹10L) | 14.17x |
| bNII (above ₹10L) | 8.62x |
| Retail (RII) | 8.62x |
| Total | 7.01x |
Bidding day 3
Day-wise subscription
| Day | QIB | sNII | bNII | Retail | Total |
|---|---|---|---|---|---|
| Day 1 | 0.01x | 2.46x | 0.76x | 2.38x | 1.48x |
| Day 2 | 0.07x | 6.87x | 2.78x | 5.34x | 3.58x |
| Day 3 | 1.59x | 14.17x | 8.62x | 8.62x | 7.01x |
Times subscribed per category (bids vs shares offered, anchor portion excluded). Bidding has closed — these are the final figures.
How the book filled
Day-by-day demand
Bidding in the Hero Motors IPO ran across 3 recorded days: overall subscription stood at 1.48× at the close of day 1, read 3.58× at the end of day 2, and finished at 7.01× on day 3. On the final day it was non-institutional investors (NII) driving the book, at 10.47× of the shares set aside for the category. More than half of the final demand arrived after day 1 — a late-building book. The largest single-day addition came on day 3, when the overall multiple moved from 3.58× to 7.01×.
Category detail
Institutional demand closed at 1.59× of the QIB quota. Non-institutional investors came in at 10.47×, split 14.17× in the small-NII bucket (bids under ₹10 lakh) and 8.62× among big NIIs (above ₹10 lakh). Within the NII book, the smaller sub-₹10-lakh applications outpaced the bigger bids. Retail investors put in bids for 8.62× the shares reserved for them. That puts non-institutional investors (NII) at the top of the book at 10.47× and qualified institutional buyers (QIB) at the bottom at 1.59×.
What the multiple means for allotment
A retail multiple of 8.62× means bids in the category outnumbered the shares set aside for it roughly 8.62 times over. When a retail book is oversubscribed, the registrar does not allot proportionately — allotment runs as a computerised lottery among all valid applications, with each successful application receiving at least one lot of 178 shares — ₹14,952 of stock at the upper band. The multiple above is the data point that determines how thinly that draw is spread; it describes the final book, not the outcome of any single application.
Frequently asked questions
- When does the Hero Motors IPO open and close?
- The Hero Motors IPO opens on 16 Sept 2026 and closes on 18 Sept 2026.
- How many times was the Hero Motors IPO subscribed?
- The Hero Motors IPO was subscribed 7.01 times in total across all investor categories.
- What is the reservation split in the Hero Motors IPO?
- Of the total shares offered, retail investors get 35%, QIBs 20% (plus 30% anchor), non-institutional investors 15%.