Dhoot Transmission IPO Soars 36% on Debut
Technicians assemble wiring harnesses and electronic components in an Indian auto manufacturing plant.
Key Highlights
Dhoot Transmission’s shares surged over 36% on market debut after its IPO was oversubscribed 74.21 times, raising Rs 3,067 crore. Explore the listing performance.
Auto components manufacturer Dhoot Transmission saw its shares climb over 36% above the Rs 871 issue price during its stellar stock market debut.
Listing Performance Highlights
- On the , the stock opened at Rs 1,193.80, a 37% increase, and closed at Rs 1,187.50, up 36.33%.
- Its listing saw shares debut at Rs 1,200, jumping 37.77%, and ending at Rs 1,187.05, up 36.28%.
- The company’s market valuation reached Rs 24,290.08 crore following the debut.
- The initial public offering was heavily oversubscribed 74.21 times, successfully raising Rs 3,067 crore.
The structure included a fresh issue of equity shares worth up to Rs 1,400 crore. An offer-for-sale component comprised up to 1.91 crore equity shares from promoters BC Asia Investments XV Ltd and Mangalam Capital Private Ltd.
IPO Proceeds Deployment
- Repayment of outstanding borrowings.
- Investments in subsidiaries specifically for debt repayment.
- Establishment of new wiring harness manufacturing plants in Jhajjar, Haryana, and Hosur, Tamil Nadu.
- Funding inorganic acquisitions and other strategic initiatives.
Dhoot Transmission, founded in 1999 and headquartered in Aurangabad, Maharashtra, specializes in a diverse range of products.
Key Product Portfolio
- Wiring harnesses
- Electronic sensors and controllers
- Automotive switches
- Power cords, cables, connectors, and terminals