New Delhi

Autoparts maker Hero Motors Ltd on Thursday fixed a price band of Rs 79–84 per equity share for its Rs 1,000 crore Initial Public Offering (IPO), which will open for subscription on September 16.

The three day initial share sale will close on September 18, according to a public announcement.

The IPO comprises a fresh issue of equity shares aggregating up to Rs 600 crore and an Offer For Sale (OFS) of shares worth up to Rs 400 crore by promoters.

As part of the OFS, O P Munjal Holdings will divest shares worth Rs 395 crore, while Hero Cycles Ltd will sell shares worth Rs 5 crore.

Of the fresh issue proceeds, Rs 190 crore will be used for repayment or prepay-ment of certain outstanding borrowings, while Rs 200 crore will be utilised to purchase equipment required for capacity expansion at the company’s facility in Gautam Buddha Nagar, Uttar Pradesh.

The remaining proceeds will be used for inorganic growth through unidentified acquisitions and other strategic initiatives and general corporate purposes.

In June 2025, Hero Motors had filed its draft red herring prospectus for a Rs 1,200 crore IPO, comprising a fresh issue of Rs 800 crore and an OFS of Rs 400 crore.