Hero Motors Limited IPO

Past issues are context, not a forecast — this issue is a different company at a different price. We show it because "how have issues like this one actually opened" is a question with a real answer, and grey-market premium is not that answer.

Hero Motors is an automotive technology company engaged in designing, developing, manufacturing, and supplying powertrain solutions to automotive OEMs in the United States, Europe, India, and the ASEAN region. Its offerings cover design, prototyping, validation, development, and delivery of system-level and component-level solutions for electric and non-electric powertrains. The company’s products are used across two-wheelers, performance automotive, e-bikes, off-road vehicles, electric and hybrid cars, heavy-duty vehicles and eVTOL applications. Its key offerings include continuously variable transmissions (CVT), EV transmissions, electric motors, integrated drive units and gear sets. The company operates through two business segments: Powertrain Solutions and Alloys and Metallics (A&M). Powertrain Solutions comprises Gears and Transmissions (G&T) and Bike Powertrain (BPT), while A&M provides sheet metal and tubular assemblies and component solutions primarily to automotive OEMs. As of FY26, the company operated six manufacturing facilities across India, the United Kingdom and Thailand, along with two technology centres in the United Kingdom and India. It has in-house design, engineering, manufacturing, testing and validation capabilities and is also setting up additional facilities in Ludhiana, Punjab and Bengaluru, Karnataka.