Dhoot Transmission raises Rs 918 crore from anchors before Rs 3,067 crore IPO
What's the deal? Dhoot TransmissionDealroom has a profile for this one. Try Dealroom →, a Maharashtra-based maker of wiring harnesses and electrical distribution systems, has raised Rs 918.3 crore from anchor investors ahead of its IPO, which opens for public subscription on August 10 and closes August 12. The company aims to raise up to Rs 3,067 crore at the upper end of its Rs 829-871 price band.
Who's in? Dhoot allotted 1.05 crore shares to 72 anchor investors at Rs 871 each. BlackRock, the Abu Dhabi Investment AuthorityDealroom has a profile for this one. Try Dealroom →, and AmundiDealroom has a profile for this one. Try Dealroom → joined the anchor book, alongside 12 domestic mutual funds and life insurers including SBI LifeDealroom has a profile for this one. Try Dealroom → and HDFC LifeDealroom has a profile for this one. Try Dealroom →.
What's the endgame? The issue combines a fresh issue of Rs 1,400 crore and an offer for sale by promoter entities BC Asia Investments XVDealroom has a profile for this one. Try Dealroom → — owned by Bain CapitalDealroom has a profile for this one. Try Dealroom → — and Mangalam CapitalDealroom has a profile for this one. Try Dealroom →. Dhoot will use Rs 766.5 crore to repay debt and Rs 150 crore to build a new wiring harness plant, with the rest going to acquisitions and general purposes.
By the numbers: For FY26, profit rose 12.1% year-on-year to Rs 396.8 crore, while revenue grew 31.4% to Rs 4,525 crore. The wiring harness business alone contributed 77% of revenue.
Why now? The company runs 22 manufacturing facilities, three engineering and design centres, and seven warehouses across India and abroad. Market observers pegged its grey market premium at around 29% ahead of the listing.
The signal: Bain Capital's partial exit through the offer for sale, paired with heavyweight anchor demand, points to steady appetite for India's auto-components suppliers as manufacturers scale up domestic and export capacity.
Read more: Moneycontrol
Image credit: Generated with Gemini
