India, Sept. 16 -- Unlike pure primary offerings that are only funded from the company's balance sheet, Hero Motors Limited's IPO is a combination of new money and an exit option for the existing shareholders. The price band for the shares is fixed at Rs. 79 to Rs. 84 per share, with a minimum investment of 178 shares, which is approximately Rs. 14,952 at the high end of the price band. As of 12:25 PM on the first day of bidding, the issue had been subscribed 0.74 times, in line with the subdued GMP reading.

The entire issue size of Rs. 1,000 crore will be a Fresh Issue with Rs. 600 crore being raised by the company itself and the remaining Rs. 400 crore will be an Offer for Sale (OFS) by the promoters and selling shareholders, thereby ...