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Hero Motors shares deliver about 40% to IPO allottees

The stock debuted on 23 September at ₹82, a 2.4% discount to the IPO price, and was trading more than 3% higher Tuesday after opening at ₹137.48.

Reported · Written up by our desk · Equities

Hero Motors shares made their market debut on 23 September at ₹82 apiece on the NSE, which was 2.4% below the IPO price. LiveMint Markets said the stock has since seen sharp volatility amid weak broader market sentiment.

According to LiveMint Markets, IPO allottees who have continued to hold the newly listed shares have received around 40% returns despite the roller-coaster trading.

LiveMint Markets added that Hero Motors shares were trading over 3% higher on Tuesday, after opening at ₹137.48 compared with the previous close of ₹135.06, and posting an intraday high of ₹140.78 on 29 September.

Market experts cited by LiveMint Markets said the recent bullish momentum points to growing investor interest, with attention turning to Hero Motors exposure in expanding automotive technology and powertrain segments, along with its valuation and profitability metrics.

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