Bain Capital-backed Dhoot Transmission files UDRHP with SEBI for Rs 1400 crore IPO
All shares carry a face value of Rs 2 each. The firm plans to utilise Rs 493.9 crore for the repayment or prepayment of its outstanding borrowings.
- May 23, 2026,
- Updated May 23, 2026 1:06 PM IST
Bain Capital-backed Dhoot Transmission Ltd has filed its Updated Draft Red Herring Prospectus (UDRHP) with the Securities and Exchange Board of India (SEBI). The proposed initial public offering likely to feature a issue of equity shares aggregating up to Rs 1,400 crore, alongside an offer for sale (OFS) of up to 1,63,10,733 equity shares.
The OFS portion is driven by the promoter and promoter group selling shareholders. BC Asia Investments XV Limited, which acquired a 49% stake in the company in April 2025, would offload up to 1,31,91,900 shares. Another entity, Mangalam Capital Private Limited, is offering 31,18,833 equity shares in the block.
All shares carry a face value of Rs 2 each. The firm plans to utilise Rs 493.9 crore for the repayment or prepayment of its outstanding borrowings. Additionally, Rs 272.58 crore is earmarked for subsidiaries—including Dhoot Auto Components and Dhoot Transmission UK—to clear their respective debts.
Rs 150 crore is allocated for setting up new plants in Jhajjar, Haryana, and Shoolagiri, Tamil Nadu. The remaining funds are slated for acquisitions and general corporate purposes.
Founded in 1999, the company designs and manufactures critical wiring harnesses and is a prominent player in market share by value in India's two-wheeler and three-wheeler wiring harness market for FY25.
The updated draft prospectus highlighted revenue from operations climbed 62% from Rs 2,125.86 crore in FY23 to Rs 3,444.86 crore in FY25. Wiring harnesses remain the primary financial engine, contributing 78% (Rs 2,687 crore) to the FY25 topline, while domestic sales accounted for approximately 90% of overall revenue.
Profit after tax (PAT) more than doubled over the same period, surging from Rs 163.91 crore to Rs 353.89 crore.
The book-running lead managers handling the issue are Axis Capital Limited, Jefferies India Private Limited, Kotak Mahindra Capital Company Limited, Nomura Financial Advisory and Securities (India) Private Limited, SBI Capital Markets Limited, and 360 ONE WAM Limited.
Bain Capital-backed Dhoot Transmission Ltd has filed its Updated Draft Red Herring Prospectus (UDRHP) with the Securities and Exchange Board of India (SEBI). The proposed initial public offering likely to feature a issue of equity shares aggregating up to Rs 1,400 crore, alongside an offer for sale (OFS) of up to 1,63,10,733 equity shares.
The OFS portion is driven by the promoter and promoter group selling shareholders. BC Asia Investments XV Limited, which acquired a 49% stake in the company in April 2025, would offload up to 1,31,91,900 shares. Another entity, Mangalam Capital Private Limited, is offering 31,18,833 equity shares in the block.
All shares carry a face value of Rs 2 each. The firm plans to utilise Rs 493.9 crore for the repayment or prepayment of its outstanding borrowings. Additionally, Rs 272.58 crore is earmarked for subsidiaries—including Dhoot Auto Components and Dhoot Transmission UK—to clear their respective debts.
Rs 150 crore is allocated for setting up new plants in Jhajjar, Haryana, and Shoolagiri, Tamil Nadu. The remaining funds are slated for acquisitions and general corporate purposes.
Founded in 1999, the company designs and manufactures critical wiring harnesses and is a prominent player in market share by value in India's two-wheeler and three-wheeler wiring harness market for FY25.
The updated draft prospectus highlighted revenue from operations climbed 62% from Rs 2,125.86 crore in FY23 to Rs 3,444.86 crore in FY25. Wiring harnesses remain the primary financial engine, contributing 78% (Rs 2,687 crore) to the FY25 topline, while domestic sales accounted for approximately 90% of overall revenue.
Profit after tax (PAT) more than doubled over the same period, surging from Rs 163.91 crore to Rs 353.89 crore.
The book-running lead managers handling the issue are Axis Capital Limited, Jefferies India Private Limited, Kotak Mahindra Capital Company Limited, Nomura Financial Advisory and Securities (India) Private Limited, SBI Capital Markets Limited, and 360 ONE WAM Limited.