Dhoot Transmission raises US$124.7M from anchors before US$416.5M 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 US$124.7M 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 US$416.5M at the upper end of its US$11.3-US$11.8 price band.
Who's in? Dhoot allotted 1.05 crore shares to 72 anchor investors at US$11.8 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 US$190.1M 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 US$104.1M to repay debt and US$20.4M 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 US$53.9M, while revenue grew 31.4% to US$614.5M. 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
