Hero Motors IPO GMP has become one of the most closely tracked numbers in this week’s busy primary market calendar, and for good reason — this ₹1,000 crore mainboard issue from the Pankaj Munjal branch of the well-known Hero Group is drawing serious retail attention right alongside a much smaller but equally interesting steel-sector IPO from Jindal Supreme. Both issues open on the same day, giving investors a genuinely packed week to navigate.
Jindal Supreme IPO GMP and Hero Motors’ own grey market signal are both being watched closely by investors trying to gauge listing-day sentiment before committing capital. Here’s a complete, side-by-side breakdown of both issues, including the latest GMP figures, price bands, and key dates you’ll need before the subscription window closes.
Hero Motors: What the Company Actually Does
Hero Motors Limited designs, develops, and manufactures powertrain and transmission solutions for automotive OEMs, with a product range spanning CVTs, EV transmissions, electric motors, integrated drive units, and gear sets, primarily catering to two-wheelers, e-bikes, and electric vehicles. The company reported revenue of ₹1,216.74 crore in FY26, up from ₹1,111.23 crore the previous year, with profit rising to ₹41.17 crore from ₹32.80 crore over the same period.
The IPO itself is a ₹1,000 crore book-built mainboard issue, comprising a fresh issue of ₹600 crore and an Offer for Sale (OFS) of ₹400 crore. Notably, this represents a reduction from the company’s original filing — Hero Motors had initially planned a ₹1,200 crore issue with an ₹800 crore fresh issue component before revising it downward following SEBI approval.
Hero Motors IPO: Key Company Details
| Detail | Information |
|---|---|
| Business | Powertrain & transmission solutions for two-wheelers, e-bikes, EVs |
| FY26 Revenue | ₹1,216.74 crore |
| FY26 Profit | ₹41.17 crore |
| Issue Size | ₹1,000 crore (₹600 cr fresh + ₹400 cr OFS) |
| Post-IPO P/E Ratio | 92.31x (at upper band) |
| Promoter Holding (Post-IPO) | 61.63% |
Hero Motors IPO Date 2026: When to Apply
Hero Motors IPO date 2026 is confirmed and consistent across every major broker and IPO tracking platform. The subscription window opens on Wednesday, September 16, 2026, and closes on Friday, September 18, 2026. Following the close, the Basis of Allotment is expected to be finalised on Monday, September 21, with shares credited to demat accounts by September 22, and listing tentatively scheduled for Wednesday, September 23, 2026, on both the BSE and NSE.
Hero Motors IPO: Complete Timeline
| Event | Date |
|---|---|
| Subscription Opens | Wednesday, September 16, 2026 |
| Subscription Closes | Friday, September 18, 2026 |
| Basis of Allotment | Monday, September 21, 2026 |
| Shares Credited to Demat | Tuesday, September 22, 2026 |
| Listing Date (Tentative) | Wednesday, September 23, 2026 |
Hero Motors IPO Price Band: What You’ll Need to Invest
Hero Motors IPO price band has been fixed at ₹79 to ₹84 per equity share, with a lot size of 178 shares per application. At the upper end of the band, this works out to a minimum investment of ₹14,952 for retail investors applying for a single lot. The retail quota stands at 35%, with 50% reserved for Qualified Institutional Buyers (QIB) and 15% for High Net-worth Individuals (HNI).
ICICI Securities is the book-running lead manager for the issue, with Kfin Technologies serving as the registrar.
Hero Motors IPO: Issue Structure
| Detail | Information |
|---|---|
| Price Band | ₹79 – ₹84 per share |
| Lot Size | 178 shares |
| Minimum Investment (Retail) | ₹14,952 |
| Retail Quota | 35% |
| QIB Quota | 50% |
| HNI Quota | 15% |
| Registrar | Kfin Technologies Ltd. |
Hero Motors IPO GMP Today: Where the Grey Market Stands
Hero Motors IPO GMP today has shown fairly significant movement in the days leading up to the subscription window, which is worth understanding before treating any single figure as gospel. Estimates have ranged from as low as ₹8 (roughly 9.5% premium) to as high as ₹23 (around 27% premium) across different tracking platforms, with one report from just before the IPO opened citing a GMP of ₹17, implying an indicative listing price of ₹101.
This kind of spread across sources is fairly typical for GMP data, since it’s sourced informally from grey market dealers rather than published by any exchange. Treat these figures as a general sentiment gauge rather than a reliable predictor of actual listing-day performance.
Hero Motors IPO GMP: Recorded Range
| Source/Date | GMP | Implied Premium | Indicative Listing Price |
|---|---|---|---|
| Lower Estimate | ₹8 | ~9.5% | ~₹92 |
| Mid Estimate (14 Sep 2026) | ₹17 | ~20% | ~₹101 |
| Higher Estimate | ₹23 | ~27% | ~₹107 |
GMP is an unofficial, unregulated indicator and can shift significantly within a single day. Always verify the latest figure closer to your application date.
Hero Motors IPO Share Price: Is the Valuation Justified?
Hero Motors IPO share price at the upper band implies a post-IPO P/E ratio of 92.31 times — a valuation that several analysts have flagged as aggressive when compared against listed peers in the auto components space. Endurance Technologies, for comparison, trades at around 40.84 times earnings, while CIE Automotive trades at roughly 17.68 times, making Hero Motors’ asking valuation notably rich relative to its established competitors.
Some independent analysis has been openly skeptical of the pricing, pointing out that FY26 profit margins of just 3.46% on ₹1,188 crore in sales don’t obviously support a valuation multiple more than double that of comparable peers, particularly with promoters still offloading a meaningful 40% stake through the OFS component.
Hero Motors IPO Expected Date: Listing Day Outlook
Hero Motors IPO expected date for listing remains tentatively set for September 23, 2026, pending final confirmation closer to the allotment date. Historical data on similar recent IPOs suggests an average listing gain of around 17.1% for comparable issues, though GMP-based predictions for this specific stock have shown wide enough variance that investors should treat any single listing-day forecast with real caution.
Jindal Supreme IPO: A Smaller Issue From the Steel Sector
Jindal Supreme IPO offers a considerably smaller, more modest alternative to Hero Motors for investors looking at this week’s mainboard action. Jindal Supreme (India) Limited, incorporated in 1974, manufactures steel pipes and tubes, including Mild Steel (MS) black pipes, galvanized pipes, metal beam crash barriers, and galvanized iron (GI) tubular poles, serving infrastructure and industrial applications.
The company reported revenue of ₹675.94 crore in FY26, up from ₹604.74 crore the previous year, though profit actually declined slightly to ₹22.53 crore from ₹24.27 crore over the same period — a detail worth noting given the otherwise positive revenue trend.
Jindal Supreme IPO: Key Company Details
| Detail | Information |
|---|---|
| Business | Steel pipes, tubes, crash barriers, GI tubular poles |
| FY26 Revenue | ₹675.94 crore |
| FY26 Profit | ₹22.53 crore (down from ₹24.27 crore) |
| Issue Size | ₹124.88 crore (₹99.89 cr fresh + ₹24.99 cr OFS) |
| Registrar | Bigshare Services Pvt. Ltd. |
Jindal Supreme IPO GMP: A Steadily Climbing Premium
Jindal Supreme IPO GMP has shown a notably clearer upward trend compared to Hero Motors, climbing fairly steadily through the pre-subscription period. GMP reportedly started at ₹0 on September 8, jumped to ₹11 the next day, and continued climbing to reach figures ranging between ₹17 and ₹27 across different tracking sources by mid-September, implying an indicative listing price somewhere between ₹110 and ₹120 against the ₹93 upper price band.
That steady upward movement — rather than the choppier pattern seen in Hero Motors’ GMP — is generally read as a sign of building investor demand through the subscription window, though the same caution about GMP’s unofficial, unregulated nature applies here as well.
Jindal Supreme IPO GMP: Recorded Trend
| Date | GMP | Implied Listing Price |
|---|---|---|
| September 8, 2026 | ₹0 | ~₹93 |
| September 9, 2026 | ₹11 | ~₹104 |
| September 12, 2026 | ₹21 | ~₹114 |
| Mid-September (Latest) | ₹17 – ₹27 | ~₹110 – ₹120 |
Jindal Supreme IPO Dates and Price Band: Matching Hero Motors’ Timeline
Jindal Supreme IPO shares the exact same subscription window as Hero Motors, opening September 16 and closing September 18, 2026, with the Basis of Allotment expected on September 21 and listing tentatively set for September 23. The price band is set at ₹88 to ₹93 per share, with a lot size of 161 shares, requiring a minimum investment of ₹14,973 at the upper band — remarkably close to Hero Motors’ own minimum investment despite the two companies operating in entirely different sectors.
Hero Motors vs Jindal Supreme: Side-by-Side Comparison
| Detail | Hero Motors IPO | Jindal Supreme IPO |
|---|---|---|
| Sector | Auto components (EV/transmission) | Steel pipes & tubes |
| Issue Size | ₹1,000 crore | ₹124.88 crore |
| Price Band | ₹79 – ₹84 | ₹88 – ₹93 |
| Lot Size | 178 shares | 161 shares |
| Min. Investment | ₹14,952 | ₹14,973 |
| Subscription Dates | Sep 16 – 18, 2026 | Sep 16 – 18, 2026 |
| Listing Date | Sep 23, 2026 (tentative) | Sep 23, 2026 (tentative) |
| Latest GMP Range | ₹8 – ₹23 | ₹17 – ₹27 |
IPO GMP Today: A Word of Caution Before You Apply
IPO GMP today figures for both Hero Motors and Jindal Supreme should be treated as directional sentiment indicators rather than reliable forecasts of actual listing performance. GMP is sourced from informal grey market dealers, operates entirely outside regulated exchanges, and can swing sharply within a single day based on subscription demand, broader market mood, and anchor investor interest. A high GMP doesn’t guarantee a strong listing, and a low or negative GMP doesn’t necessarily rule one out either.
Given that both IPOs share the same subscription and listing timeline this week, investors weighing between the two should look well beyond GMP alone — factoring in sector outlook, valuation multiples, and each company’s underlying financial trajectory before deciding where to allocate capital.
Frequently Asked Questions About Hero Motors and Jindal Supreme IPO GMP
1. What is the latest Hero Motors IPO GMP?
Hero Motors IPO GMP has ranged between ₹8 and ₹23 across different tracking sources in the days leading up to the subscription window, implying a listing price roughly 9.5% to 27% above the upper price band.
2. What is the Hero Motors IPO price band and lot size?
The price band is ₹79 to ₹84 per share, with a lot size of 178 shares, requiring a minimum investment of ₹14,952 for retail investors.
3. When does the Hero Motors IPO open and close?
Hero Motors IPO opens on September 16, 2026, and closes on September 18, 2026.
4. What is the latest Jindal Supreme IPO GMP?
Jindal Supreme IPO GMP has climbed from ₹0 to a range of ₹17 to ₹27 through the pre-subscription period, implying a listing price around ₹110 to ₹120.
5. What is the Jindal Supreme IPO price band?
The price band is ₹88 to ₹93 per share, with a lot size of 161 shares and a minimum investment of ₹14,973.
6. When will Hero Motors IPO shares list on the exchange?
Hero Motors IPO shares are tentatively scheduled to list on the BSE and NSE on September 23, 2026.
7. Is Hero Motors IPO considered fairly valued?
Some analysts view the valuation as aggressive, with a post-IPO P/E of 92.31x compared to peers like Endurance Technologies (40.84x) and CIE Automotive (17.68x).
8. What does Jindal Supreme (India) Limited manufacture?
The company manufactures steel pipes, tubes, galvanized pipes, metal beam crash barriers, and galvanized iron tubular poles for infrastructure applications.
9. Can GMP guarantee listing-day gains for either IPO?
No, GMP is an informal, unregulated indicator that reflects short-term sentiment and can change significantly before actual listing. It should not be treated as a guaranteed forecast.
10. Do Hero Motors and Jindal Supreme IPOs share the same timeline?
Yes, both IPOs open on September 16 and close on September 18, 2026, with tentative listing on September 23, 2026 for both.
