Dhoot Transmission’s initial public offering attracted robust investor interest, with subscriptions reaching nearly 36 times on the final bidding day, driven primarily by qualified institutional buyers, as the company prepares for its listing scheduled for August 17.
Dhoot Transmission’s initial public offering drew strong investor interest on its final bidding day, with the issue subscribed 35.87 times by mid-afternoon on August 12, according to NSE data cited by Zee Business. Qualified institutional buyers led the demand, while the offer was set to close later the same day at 5pm.
The company has priced the shares in a band of ₹829 to ₹871 each, with a lot size of 17 shares. At the upper end of the range, a retail bidder needed at least ₹14,807 for one lot. The issue, a book-built offering worth ₹3,066.89 crore, combines a fresh issue of ₹1,400 crore with an offer for sale of ₹1,666.89 crore.
According to the company’s offer details, the proceeds from the fresh issue will go mainly towards cutting debt, funding subsidiaries and expanding manufacturing capacity. Dhoot Transmission has earmarked ₹464.80 crore for repayment or prepayment of borrowings, ₹301.77 crore for its subsidiaries and ₹150 crore for new wiring harness plants in Jhajjar, Haryana, and Hosur, Tamil Nadu. The remainder is expected to go towards acquisitions and general corporate purposes.
The IPO timetable points to an allotment on August 13, with refunds and share credits due on August 14 and a planned listing on August 17 on BSE and NSE. The company, founded in 1998, makes wiring harnesses and electrical distribution systems for internal combustion engine and electric vehicle platforms. Its latest financials showed revenue rising to ₹4,563.70 crore in FY26 from ₹3,472.24 crore a year earlier, while profit after tax increased to ₹396.84 crore from ₹353.89 crore, according to the issue materials.
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