NSE and Hero Motors Head Massive Lineup as 11 IPOs Look to Raise Over Rs 24,000 Crore

India's primary market is set for an intense week of activity starting September 14, with 11 initial public offerings (IPOs) scheduled to open for subscription. The lineup is headlined by two prominent names—the National Stock Exchange (NSE) and automotive components manufacturer Hero Motors—alongside three other mainboard issues and six SME offerings.

Together, the five mainboard offerings are seeking to raise Rs 24,328.02 crore from primary markets.

NSE's Landmark Mega Offering

The centerpiece of the week's market action is the long-anticipated public issue of the National Stock Exchange.

Key parameters of the NSE offering include:

• Issue Size: NSE is targeting a fundraise of Rs 22,561.57 crore at the upper end of its price band, making it the largest issue of the week by a wide margin.
• Listing Venue: The country's largest exchange will list its equity shares exclusively on the BSE, as it has not sought regulatory clearance to trade its own shares on its own platform.
• Employee Benefit: Eligible employees participating in the offering will receive a reservation discount of Rs 170 per share.
• Issue Structure: The offer comprises an offer-for-sale (OFS) from existing institutional and individual shareholders, though the size was revised downward by approximately 15% following changes in selling shareholder participation.

Hero Motors Enters Bidding Arena

Pankaj Munjal-led Hero Motors Ltd. is preparing to raise Rs 1,000 crore through its initial share sale. The automotive technology and powertrain solutions provider will open its anchor bidding book on September 15, followed by public bidding between September 16 and September 18.

Details of the Hero Motors issue:

• Price Band: Fixed between Rs 79 and Rs 84 per equity share.
• Valuation: At the upper price band, the company is valued at roughly Rs 3,815 crore.
• Issue Composition: A fresh issue of equity shares worth Rs 600 crore and an offer-for-sale (OFS) component of up to Rs 400 crore by promoter entities.
• Bid Lot Size: Retail investors can bid for a minimum of 178 shares, requiring an outlay of Rs 14,952 at the top end of the band.
• Use of Proceeds: Fresh funds will primarily be directed toward debt repayment and purchasing equipment for manufacturing capacity expansion at its Gautam Buddha Nagar facility in Uttar Pradesh.
• Intermediaries: ICICI Securities is serving as the book-running lead manager, with KFin Technologies appointed as the registrar.

Broader Mainboard and SME Slate

Beyond NSE and Hero Motors, three other companies make up the five-member mainboard roster: SS Retail, Sonaselection India, and Jindal Supreme. Together with six SME issues opening concurrently, the combined weekly fundraise across all 11 offerings approaches ₹24,574 crore.

With significant liquidity set to be drawn into the primary market over the coming days, analysts anticipate high competitive interest, with retail and high-net-worth investor capital expected to concentrate heavily on marquee brand names.

Tags: NSE Hero Motors BSE SEBI Primary Market Initial Public Offering