Hero Motors shares to list today; GMP indicates strong debut

Hero Motors is set to list on stock exchanges today following the closure of its Rs 1,000 crore initial public offering. The IPO comprised a fresh issue of 7.14 crore shares worth Rs 600 crore and an offer for sale of 4.76 crore shares valued at Rs 400 crore.

The issue was priced between Rs 79 and Rs 84 per share, with a minimum application lot of 178 shares. Strong grey market premium ahead of listing suggests investor confidence in the two-wheeler manufacturer's debut on the bourses.