IPO
Dhoot Transmission files updated papers to raise Rs.1,400-Cr in fresh issue
Aurangabad-based Dhoot Transmission has filed an updated draft red herring prospectus (UDRHP-1) with the Securities and Exchange Board of India (Sebi) for an initial public offering (IPO). The proposed public offer consists of a fresh issue of equity shares aggregating Rs.1,400-Cr, alongside an offer for sale (OFS) of up to 1.63 crore equity shares.The OFS includes shares offered by BC Asia Investments XV and Mangalam Capital. The transaction is being managed by Axis Capital, Jefferies India, Kotak Mahindra Capital, Nomura Financial Advisory and Securities (India), SBI Capital Markets, and 360 ONE WAM.Founded in 1999, the company manufactures wiring harnesses that integrate electronic sensors, controllers, switches, terminals, connectors, junction boxes, and data cables. It has a significant presence in the electric vehicle segment. The company intends to use the net proceeds from the fresh issue for the repayment or prepayment of certain outstanding borrowings of the company and its subsidiaries, including Dhoot Auto Components, Dhoot Electricals Systems, Dhoot Automotive Systems, and Dhoot Transmission UK.Additionally, the company plans to allocate Rs.150-Cr of the proceeds to establish new wiring harness manufacturing plants in Jhajjar, Haryana, and Hosur, Tamil Nadu.
In Jan 2025, Dhoot Transmission had raised funding from Bain Capital.For FY25, Dhoot Transmission had reported about INR 2,593 Cr in Operating Income and about INR 156 Cr in PAT.
Want to receive such news items in your inbox? Click Here to sign up for a trial.
