Liquidity Events
Automotive electrical parts maker Dhoot Transmission’s Rs.3,067-Cr IPO booked 74x
The INR 3,067 crore initial public offering (IPO) of Chhatrapati Sambhajinagar (Maharashtra)-based Dhoot Transmission was subscribed 74.21 times. The issue received bids for over 185 crore equity shares against the 2.49 crore shares on offer. Qualified institutional buyers (QIBs) led the demand with a subscription of 212.92 times, while non-institutional investors and retail investors subscribed 51.93 times and 8.12 times, respectively.The issue comprised a fresh issue of shares worth INR 1,400 crore and an Offer for Sale (OFS) of shares worth INR 1,666.89 crore. Axis Capital is the book-running lead manager for the transaction.Founded in 1998, Dhoot Transmission manufactures wiring harnesses and various automotive electrical and electronic components, including sensors, controllers, and power cords.The company intends to use the proceeds from the fresh issue to repay or prepay certain borrowings and to invest in subsidiaries for debt reduction. Additionally, the funds will support the establishment of new wiring harness manufacturing facilities in Jhajjar, Haryana, and Shoolagiri, Tamil Nadu, alongside funding acquisitions.
In Jan 2025, Dhoot Transmission had attracted investment from Bain Capital.
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