From NEC Table 430.150: 7.5 HP 3-phase 460 volt motor Full Load Current is 11 Amps.
From NEC Table 310.16: 12 AWG 75-degree C wire Allowable Current Ampacity is 25 Amps, BUT is reduced to 20 Amps for safety reasons.
From NEC Table 310.15(B)(2)(a): Adjustment factor for 10 to 20 current carrying conductors in one conduit: 50%
Therefore, 0.50 X 20 Amps = 10 Amps per #12 wire.
Therefore, since motor full load amps is 11, wire must be upgraded to next larger size, which is #10 in standard stocked sizes. Check: #10 is rated for 30 Amps, reduced by 50% = 15 Amps. We need about 125% of FLA for motor startup, so 1.25 X 11 = 13.75 Amps, which looks okay.
From NEC Annex C, Table C1, twelve #10 THHN phase wires and a ground wire will require a 1" EMT conduit (at 40% fill) instead of four 1/2" conduits that could be used for separate feeds. Because it is a long run, you better go up to the 1.25" conduit size to avoid skinning off the insulation when you pull in 13 wires.
Bottom line: One 1.25" conduit with thirteen #10 wires is much cheaper to install than four 1/2" conduits each with four #12 wires, probably not a 75% cost reduction but maybe 50%, because it will take some extra time to arrange 13 reels of wire and make the one pull.