Dhoot Transmission’s ₹3,066.89-crore IPO attracted a 1.28 times subscription by mid-day on its second day, with non-institutional investors leading the demand in a mixed response across investor classes.
Dhoot Transmission’s ₹3,066.89-crore initial public offering drew a decent response on the second day of bidding on Tuesday, with exchange data showing the issue was subscribed 1.28 times by 11:30 am.
The three-day offer remains open until August 12, with shares priced in a band of ₹829 to ₹871 each. At the top end of that range, a retail application for one lot of 17 shares requires an outlay of ₹14,807.
Demand was mixed across investor classes. The non-institutional portion led the response, with bids for 2,12,86,856 shares against 53,92,957 on offer, taking that segment to 3.95 times subscription. Retail investors had subscribed 1.61 times, while qualified institutional buyers had taken up only a small fraction of their allocation.
The issue combines a fresh sale of shares worth ₹1,400 crore with an offer for sale of ₹1,666.89 crore. According to the company’s prospectus-related disclosures and market reports, Dhoot Transmission is backed by Bain Capital and supplies original equipment manufacturers across the automotive and consumer durables sectors. Founded by Rahul Dhoot, the group designs and manufactures wiring harnesses, electrical distribution systems, battery packs, sensors and related components for both internal combustion and electric vehicle platforms.
Dhoot Transmission says it is among the top two players in India’s two-wheeler and three-wheeler wiring harness market, with a 41% share, and holds a near 70% share in the electric two-wheeler and three-wheeler segment in fiscal 2026. The company also serves commercial vehicles, off-highway vehicles, farming equipment and industrial users.
The share sale is expected to be finalised on August 13, with the stock slated to debut on the NSE and BSE on August 17, subject to completion of the issue process. Axis Capital, Jefferies India, Kotak Mahindra Capital, Nomura, SBI Capital Markets and 360 ONE WAM are the book-running lead managers, while KFin Technologies is the registrar.
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