Dhoot Transmission IPO opens on August 10; check price band, issue size & key details

Dhoot Transmission, the Bain Capital-backed automotive wiring harness manufacturer, has fixed the price band for its initial public offering at Rs 829-871 per equity share. The IPO will open for subscription on August 10 and close on August 12, while the anchor investor portion will open on August 7. Investors can bid for a minimum of 17 shares and in multiples thereof.

At the upper end of the price band, the IPO is expected to raise Rs 3,066.89 crore. The public issue comprises a fresh issue of equity shares worth Rs 1,400 crore and an offer for sale of around 1.9 crore shares by existing shareholders, including Bain Capital.

At the upper end, Dhoot Transmission is expected to command a market capitalisation of Rs 17,816.14 crore upon listing. The offering would add to a busy pipeline of Indian listings as companies seek to tap resilient investor demand despite heightened market volatility.

Of the total issue size, 50 per cent has been reserved for qualified institutional buyers, 15 per cent for non-institutional investors and 35 per cent for retail investors. The private equity firm currently owns around 55 per cent of the company, while the remaining stake is held by the Dhoot family.

Founded in 1999, Dhoot Transmission manufactures wiring harnesses, electronic sensors, automotive switches, cords, cables and EV components for two-wheelers, three-wheelers, passenger vehicles, commercial vehicles, off-highway vehicles and farm equipment across both internal combustion engine and electric vehicle segments.

The company operates manufacturing facilities across India, the UK, Slovakia, Thailand, Japan and South Korea. Axis Capital, Jefferies, Kotak Mahindra Capital, Nomura, SBI Capital Markets and 360 ONE WAM are the book-running lead managers to the issue.

The basis of allotment is expected to be finalised on August 13, and the company's shares are scheduled to debut on the stock exchanges on August 17. The issue will open with a price band of ₹829-871 per share and includes both a fresh issue and an offer for sale by existing shareholders.