Hero Motors IPO GMP Today: Over 28% Listing Gain Indicated; Compare With NSE, SS Retail, Jindal Supreme

The IPO market is gearing up for a packed week, with Hero Motors among the issues expected to attract considerable investor attention. The auto component maker will open its Rs 1,000 crore public issue on September 16, and its latest grey market premium (GMP) suggests that investors are currently expecting a healthy listing.

Hero Motors shares are commanding a GMP of Rs 24 over the upper end of the IPO price band.

Hero Motors IPO GMP Today: How Much Listing Gain Can Investors Expect?

Hero Motors has fixed the price band for its IPO at Rs 79 to Rs 84 per share. With the latest GMP at Rs 24, the estimated listing price works out to around Rs 108 per share, assuming the grey market trend holds until listing.

At the upper price band of Rs 84, this indicates a potential listing premium of approximately 28.57%. The GMP, however, is only an unofficial market indicator and does not guarantee that the stock will list at the estimated price.

Hero Motors IPO: Key Dates, Price Band and Issue Size

The Hero Motors IPO opened for subscription on September 16 and remain open until September 18. The company is looking to raise Rs 1,000 crore through the issue. The public offer comprises a fresh issue of up to Rs 600 crore and an offer for sale of shares worth up to Rs 400 crore by the promoters. Investors will be able to bid within the Rs 79-Rs 84 price range.

Hero Motors IPO GMP vs NSE, SS Retail, Jindal Supreme: Which Issue Leads?

Hero Motors is showing one of the stronger percentage-based GMP indications among the major IPOs opening this week. Jindal Supreme has the highest implied listing gain in the comparison at 29.03%, based on a GMP of Rs 27 against its Rs 93 upper price band. Hero Motors follows with an estimated 28.57% gain.

SS Retail is showing a GMP of Rs 120, implying a potential listing premium of 28.30% over its Rs 424 upper price band. Meanwhile, the NSE IPO has the highest absolute GMP at Rs 210, but its much higher price band of Rs 1,785 translates into an implied premium of 11.76%. Sonaselection, on the other hand, is currently showing zero GMP.

NSE IPO Also in Focus This Week

The much-awaited NSE IPO will open for subscription on September 17, a day after Hero Motors, and will close on September 21. Its price band has been fixed at Rs 1,700-Rs 1,785 per share, with the issue comprising an OFS of 12.64 crore shares.

Although NSE's Rs 210 GMP is substantially higher in absolute terms than Hero Motors' Rs 24, the percentage premium indicated by the grey market is considerably lower because of the exchange's higher issue price.

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