Dhoot Transmission's ₹3,067-crore IPO to open on Aug 10; sets price band at ₹829-871

Bain Capital-backed auto components manufacturer Dhoot Transmission has fixed the price band for its initial public offering (IPO) at ₹829-871 per share, looking to raise ₹3,066.89 crore at the upper end of the price band. The public issue will open for subscription on August 10 and close on August 12, with the company's shares scheduled to list on the BSE and NSE on August 17.

The IPO comprises a fresh issue of 1.61 crore equity shares worth ₹1,400 crore and an offer for sale (OFS) of 1.91 crore shares aggregating to ₹1,666.89 crore by existing shareholders.

The proceeds from the fresh issue are expected to be utilised for debt repayment, capital expenditure, funding working capital requirements, and general corporate purposes, strengthening the company's balance sheet as it prepares for its next phase of growth.

At the upper end of the price band, retail investors will have to invest a minimum of ₹14,807 for one lot comprising 17 equity shares.

As per the IPO papers filed with Sebi, up to 50% of the net issue has been reserved for qualified institutional buyers (QIBs), at least 35% for retail investors, and not less than 15% for non-institutional investors (NIIs). The allotment of shares is expected to be finalised on August 13, while Dhoot Transmission is scheduled to debut on the BSE and NSE on August 17, 2026.

Bain Capital currently owns a 49% stake in Dhoot Transmission following the consolidation of promoter-held entities into the company.

Founded more than two decades ago by promoter Rahul Dhoot, the Maharashtra-based company manufactures a broad portfolio of automotive and industrial electrical components, including wiring harnesses, automotive switches, electronic sensors and controllers, connectors and terminals, automotive cables, power cords, and battery packs.

The company's products are supplied to original equipment manufacturers (OEMs) across the automotive and consumer durables sectors and are used in two-wheelers, passenger and commercial vehicles, off-road equipment, earth movers, agricultural machinery, medical devices, and household appliances. Dhoot Transmission serves customers across eight countries and three continents.

Over the years, the company has expanded its international footprint through acquisitions and overseas operations. It established an engineering and marketing office in the United Kingdom in 2012, acquired Scotland-based TFC Cables, along with its manufacturing facility in Slovakia, in 2017, followed by the acquisitions of Parkinson Harness in the UK in 2018 and San Electromec in 2019.

Dhoot Transmission operates an integrated manufacturing and technology platform, with all its facilities connected through SAP S/4HANA systems. The company employs over 12,000 people and holds global quality and safety certifications, including ISO 9001, IATF 16949, ISO 14001, and ISO 45001.

According to a May 2025 report by CRISIL Ratings, Dhoot Transmission has established a strong position in the automotive wire harness and cables segment, backed by long-standing relationships with leading OEMs and continuous investments in product development and capacity expansion. Its customer base includes Bajaj Auto, TVS Motor Company, Honda Motorcycle & Scooter India, and Royal Enfield.

On the financial front, the company reported revenue of ₹3,472.24 crore and a net profit of ₹353.89 crore in FY25, compared with ₹2,799.32 crore and ₹298.75 crore, respectively, in FY24. For the nine months ended December 31, 2025, Dhoot Transmission posted revenue of ₹3,279.24 crore and a profit after tax of ₹301.46 crore. As of December 31, 2025, its net worth stood at ₹1,277.21 crore, while total borrowings were ₹822.49 crore.