Dhoot Transmission raises ₹918 cr from 72 anchor investors; ₹3,067-cr IPO opens today

Bain Capital-backed auto components manufacturer Dhoot Transmission has raised ₹918.27 crore from 72 anchor investors ahead of its initial public offering (IPO), which opens for subscription today. The ₹3,066.89-crore IPO will remain open until August 12, while shares are expected to make debut on the BSE and NSE on August 17.

The company has allotted 1,05,42,657 equity shares to anchor investors at ₹871 apiece, the upper end of its IPO price band of ₹829-871 per share. Of the total shares allotted to anchor investors, 64,59,984 shares, or 61.27% of the total allocation, were allocated to eight domestic mutual funds through 46 schemes, Dhoot Transmission said in an exchange filing.

Another 9,21,895 shares, or 8.74% of the anchor allocation, were allotted to life insurance companies and pension funds, as per the filing.

The anchor book saw participation from a wide range of marquee domestic and global investors, including SBI Mutual Fund, ICICI Prudential Mutual Fund, HDFC Mutual Fund, BlackRock, WhiteOak, Abu Dhabi Investment Authority, Axis Mutual Fund, Mirae Asset, Nippon India Mutual Fund, Government Pension Fund, Pictet, among others.

Key things to know about IPO

Dhoot Transmission’s 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.

The company plans to use the proceeds from the fresh issue for debt repayment, capital expenditure, funding working capital requirements and general corporate purposes. The fundraise is expected to strengthen its balance sheet and support its next phase of growth.

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

As per the IPO papers filed with the Securities and Exchange Board of India (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, ahead of the company's scheduled listing on August 17.

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 wide range 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.

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

According to a May 2025 report by CRISIL Ratings, Dhoot Transmission has established a strong position in the automotive wire harness and cables segment, supported by long-standing relationships with leading OEMs and continued investments in product development and capacity expansion.

Its customer base includes Bajaj Auto, TVS Motor Company, Honda Motorcycle & Scooter India and Royal Enfield.

Dhoot Transmission reported revenue of ₹3,472.24 crore in FY25, up from ₹2,799.32 crore in FY24. Net profit rose to ₹353.89 crore in FY25 from ₹298.75 crore a year earlier. For the nine months ended December 31, 2025, the company reported revenue of ₹3,279.24 crore and profit after tax of ₹301.46 crore.

As of December 31, 2025, Dhoot Transmission's net worth stood at ₹1,277.21 crore, while total borrowings were ₹822.49 crore.