<b>Dhoot Transmission, India's No. 2 wiring harness manufacturer, completed a ₹3,067 cr book-built IPO with 74.21x subscription, listing at ₹1,200 per share (37.77% premium).</b>

IPO / ECM 17 Aug 2026· ₹3,066.89 cr · Completed· ✓ Verified

Incorporated 1998, Dhoot Transmission is the #2 player in India's two-wheeler/three-wheeler wiring harness market with 41% share; #1 in e-2W/3W segment (70% share). FY26 revenue ₹4,563.70 cr (+31% YoY), PAT ₹396.84 cr (+12% YoY). IPO opened 10 Aug, closed 12 Aug 2026; allotment 13 Aug; listed 17 Aug on BSE (₹1,200) and NSE (₹1,193.80). Price band ₹829–₹871; final price ₹871. Lead manager Axis Capital; registrar Kfin Technologies. Anchor raise ₹918.26 cr on 7 Aug. Fresh issue size 1.61 cr shares; OFS 1.91 cr shares. Use of proceeds: debt reduction, subsidiary capex, manufacturing plant setup in Jhajjar (Haryana) and Hosur (Tamil Nadu), M&A and corporate purposes.

Why it mattersCapital structure: fresh-cum-OFS blend with strong PE exit optionality; the dual selling-shareholder structure (financial investor + founder) enabled clean market-based pricing and price discovery at ₹871 (midway between Bain's March 2026 preferential issue at ₹461.22 and public market appetite), signalling founder intent to retain operational control while LP achieves IRR >49% in 18 months.
CounselCyril Amarchand Mangaldas, Khaitan & Co, Latham & Watkins
SectorIndustrials
Value₹3,066.89 cr
[object Object][object Object][object Object][object Object][object Object][object Object][object Object][object Object]

Sources

Open in the live tracker →

Related deals