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Dhoot Transmission IPO Underwhelmed on Day 1
10 Aug
Summary
- IPO subscribed only 0.63 times on the first day of bidding.
- Company aims to raise Rs 1,400 crore via fresh issue.
- Dhoot Transmission specializes in wiring harnesses for automotive and non-automotive uses.
The Initial Public Offering (IPO) of Dhoot Transmission opened for subscription on August 10, 2026, with bids received for 1.56 crore shares against 2.49 crore shares on offer, resulting in an undersubscription of 0.63 times on its first day. The IPO will remain open for bidding until August 12, 2026.
The company is looking to raise up to Rs 1,400 crore through a fresh issue of shares. This will be complemented by an offer for sale of equity shares valued at approximately Rs 1,666.89 crore by existing shareholders. Funds from the fresh issue are earmarked for repaying borrowings, investing in subsidiaries, establishing a new wiring harness plant in Hosur, Tamil Nadu, and for general corporate purposes.
Dhoot Transmission, a significant entity in the electrical and electronics sector, designs, engineers, manufactures, and supplies wiring harnesses and electrical distribution systems. Its product range serves both automotive and non-automotive applications, including for internal combustion engine and electric vehicle platforms. In the fiscal year 2026, wiring harnesses constituted the majority of its revenue at 77.08%.
