Dhoot Transmission IPO GMP: After 53 lakh applications, what are your odds of allotment?

Dhoot Transmission is likely to finalize the basis of allotment of its shares on Thursday, August 13. Applicant bidders will get the messages, alerts or emails for debit of their funds latest by Friday, August 14 or latest by weekend. The auto ancilary player and harness wiring player received a bumper response from the investors during the three day bidding period.

The IPO of Dhoot Transmission was open for bidding between August 10 and August 12. It had offered its shares in the price band of Rs 829-871 per share with a lot size of 17 shares. The company eyed to raise a total of Rs 3,067 crore via IPO, which was included a fresh share sale of Rs 1,400 and an offer-for-sale (OFS) of up to 1,91,37,602 equity shares worth Rs 1,667 crore.

The issue was overall subscribed a whopping 74.21 times with nearly 53.07 lakh applications, fetching bids for almost Rs 1.61 lakh crore. The portion for qualified-institutional bidders (QIBs) was subscribed a whopping 212.92 times. The quotas for non-institutional investors (NIIs), retail bidders and employees were booked 51.93 times, 8.12 times and 8.14 times, respectively.

Based on the bidding, here are the odds of allotment for IPO of Dhoot Transmission:

• Big HNI category: 1 investor out of 12 investors will get 238 shares (Probability: 8.33 per cent)
• Small HNI category: 1 investor out of 77 investors will get 238 shares (Probability: 1.30 per cent)
• Retail category: 2 investor out of 13 investors will get 17 shares. (Probability: 15.38 per cent)

The grey market premium (GMP) of Dhoot Transmission has seen a some rise following bumper bidding despite a muted broader market sentiments. Last heard, it was commanding a premium of Rs 275-280 per share, suggesting a listing pop of 31-32 per cent for the investors. Its GMP stood around Rs 250-255 apiece over the weekend.

Incorporated in April 1998, Pune-based Dhoot Transmission is one of India's leading electrical and electronics companies engaged in the design, engineering, manufacturing, and supply of wiring harnesses and electrical distribution systems for automotive and non-automotive applications. It offers a diversified product portfolio.

Axis Capital, Jefferies India, Kotak Mahindra Capital, Nomura Financial Advisory (India), SBI Capital and 360 One WAM are the book running lead managers for Dhoot Transmission IPO and Kfin Technologies is the registrar of the issue. Refund of the bidding amount shall be done on Friday, August 14 or over the weekend. Its shares shall be listed on both BSE Ltd and NSE on August 17, Monday. 

Investors, who had bid for the issue of Dhoot Transmission, can check the allotment status on the Bombay Stock Exchange (BSE) website:

• Visit https://www.bseindia.com/investors/appli_check.aspx
• Under the issue type, click Equity
• Under the issue name, select Dhoot Transmission Limited in the dropbox
• Write the application number
• Add the PAN card ID
• Click on 'I am not a Robot' and hit search button

Similarly, one can also check the allotment status on NSE website also (https://www.nseindia.com/invest/check-trades-bids-verify-ipo-bids)

• Select ‘Equity & SME IPO Bid details’.
• Under ‘Select Symbol’, choose ‘DHOOTTRANS’.
• Put in your PAN No. and Application No.
• Click on ‘Submit’ to proceed.

Investors can also check the allotment status on the online portal of KFin Technologies Limited (https://kosmic.kfintech.com/ipostatus), the registrar to the issue.

The registrar is a Sebi-registered entity, qualified to act as such and which electronically processes all applications and carries out the allotment process, as per the prospectus. The registrar is responsible for complying with the timelines for updating the electronic credit of shares to successful applicants, dispatching and uploading refunds, and attending to all investor-related queries.

• Go to the web portal of KFin Technologies Limited
• Select the IPO in dropbox whose name will be populated only if the allotment is finalized
• You may be required to select either one of the three modes: Application number, Demat Account number, or PAN ID
• In application type, select between ASBA and non-ASBA
• Enter the details of the mode you selected in Step 2
• For security purposes, fill the captcha accurately
• Hit submit.