Dhoot Transmission
Dhoot Transmission is an automotive component manufacturer specializing in wiring harness systems. The company operates within the automotive electronics sector, providing critical electrical distribution systems for vehicles.
Price Band
₹871 - ₹871
Lot Size
17 Shares
Issue Size
₹3,066.89 Cr
Fresh Issue
₹1,400.00 Cr
OFS
₹1,666.89 Cr
Registrar
AI Sentiment Score
Current GMP
+₹234
Est. Listing: ₹1,105 (+26.9%)
📅 IPO Timeline
1
Open
Aug 10
2
Close
Aug 12
3
Allotment
Aug 13
4
Refund
Aug 14
5
Demat
Aug 14
6
Listing
Aug 17
✨ AI Analysis & Prediction
+16.2%
predicted listing gain
The listing gain is adjusted downward from the GMP of 26.9% due to a lack of institutional subscription data (0.0x) and a medium-to-large float size which reduces the retail supply squeeze. However, strong revenue growth and healthy ROCE of 19.14% provide a fundamental cushion that prevents a deeper correction.
💪 Strengths
- Consistent revenue and PAT growth over 3 years
- Strong asset base expansion
⚠️ Weaknesses
- Significant Offer for Sale (OFS) component
- Low PAT margin (8.70%)
🚀 Opportunities
- New plant setups in Haryana and Tamil Nadu
- Growing demand for automotive wiring harnesses
🛡️ Threats
- High competition from listed peers like Uno Minda
- Dependency on automotive OEM cycles
🎯 Objectives of the IPO
| Requirement / Purpose | Amount (₹ Cr) |
|---|---|
| Repayment/prepayment, in full or in part, of all or certain outstanding borrowings availed by the Company | ₹464.80 |
| Investment in certain of our Subsidiaries, namely, Dhoot Autocomponents Private Limited, Dhoot Electricals Systems Private Limited, Dhoot Automotive Systems Private Limited and Dhoot Transmission UK Limited, for repayment/prepayment, in full or part, of all or certain of the outstanding borrowings availed by these Subsidiaries. | ₹301.77 |
| Setting up of a new wiring harness manufacturing plant of the Company at (i) Sector 11, Jhajjar, Haryana, India; and (ii) Shoolagiri, Hosur, Tamil Nadu, India | ₹150.00 |
| Funding inorganic growth through unidentified acquisitions and general corporate purposes(1) | ₹2,150.32 |
📊 Financial Overview
| Metric | FY23 | FY24 | FY25 |
|---|---|---|---|
| Revenue (₹ Cr) | Rs 1,746.00 Cr | Rs 2,273.00 Cr | Rs 2,593.00 Cr |
| Net Profit / PAT (₹ Cr) | Rs 101.00 Cr | Rs 190.00 Cr | Rs 156.00 Cr |
| EBITDA / Op. Profit (₹ Cr) | Rs 213.00 Cr | Rs 339.00 Cr | Rs 305.00 Cr |
| Borrowings (₹ Cr) | Rs 319.00 Cr | Rs 356.00 Cr | Rs 482.00 Cr |
| Total Assets (₹ Cr) | Rs 941.00 Cr | Rs 1,170.00 Cr | Rs 1,596.00 Cr |
| ROCE % | 26.00% | 37.00% | 25.00% |
📋 Live Subscription Status
QIB
0.00x
NII
0.00x
Retail
0.00x
Total
0.00x
💼 Reservation Quota
QIB
50.00%
Retail
35.00%
NII
15.00%
📈 Shareholding & Anchor Lock-In
🔗 Important Links & Lead Managers
- Check Allotment StatusCheck Now →
- Registrar WebsiteVisit →
- Download DRHP ProspectusDownload PDF 📥
- Download RHP ProspectusDownload PDF 📥
Lead Managers / Merchant Bankers
This issue is managed by Hem Securities Ltd., and Share India Capital Services Pvt. Ltd.
Disclaimer: The information provided on this page is for educational and informational purposes only and does not constitute financial advice. IPO investments are subject to market risks. AI-generated analysis is based on publicly available data and may not be accurate. Grey Market Premium (GMP) is unofficial and highly speculative. Always consult a qualified financial advisor and read the DRHP/RHP carefully before making investment decisions.
Dhoot Transmission is a prominent player in the automotive electrical systems industry. The company focuses on the design and manufacture of wiring harnesses, which serve as the nervous system of modern vehicles, connecting various electrical components to the power source.
The business model is driven by high-volume production and integration with major automotive OEMs. By maintaining a robust manufacturing footprint, the company ensures a steady supply of critical components necessary for vehicle assembly and electronic functionality.
In terms of operational scale, the company is expanding its capacity significantly. It is currently setting up new wiring harness manufacturing plants in Sector 11, Jhajjar, Haryana, and Shoolagiri, Hosur, Tamil Nadu, to meet growing market demand and enhance distribution efficiency.
The company's growth is evidenced by its rapid scaling of assets, which grew from ₹1,711.70 Crore in 2024 to ₹4,114.83 Crore by 2026. This expansion reflects a strategic move to capture a larger share of the automotive electronics market.
The promoters of the company include BC Asia Investments XV Ltd. and Rahul Radhavallabh Dhoot. Their leadership has focused on aggressive revenue scaling and infrastructure development to position the company as a leader in the transmission and wiring segment.
Dhoot Transmission is launching a Mainboard IPO to raise approximately ₹3,066.89 Crore. The issue is structured as a combination of a fresh issue of ₹1,400 Crore and an Offer for Sale (OFS) of approximately 1,91,37,602 equity shares. The price band is set between ₹829 and ₹871 per share, with a minimum retail lot size of 17 shares costing ₹14,807. The IPO is scheduled to open on August 10, 2026, and close on August 12, 2026, with listing on BSE and NSE on August 17, 2026.
The proceeds from the fresh issue are earmarked for strategic debt reduction and expansion. Specifically, ₹464.80 Crore will be used for the repayment of company borrowings, and ₹301.77 Crore will be invested in subsidiaries like Dhoot Autocomponents and Dhoot Electricals for their debt repayment. Additionally, ₹150 Crore is allocated for the establishment of new manufacturing plants in Haryana and Tamil Nadu.
Financial performance has been robust over the last three years. Revenue grew from ₹2,799.32 Crore in 2024 to ₹4,563.70 Crore in 2026. Similarly, the Profit After Tax (PAT) showed a steady upward trajectory, increasing from ₹298.75 Crore in 2024 to ₹396.84 Crore in 2026, demonstrating consistent operational efficiency.
Valuation-wise, the company reports a basic EPS of ₹24.40 for FY2026 and a Net Asset Value (NAV) of ₹149.74. When compared to peers like Uno Minda and Sona BLW, the company maintains competitive ROE (16.30%) and ROCE (19.14%) figures, though it operates in a highly competitive landscape with established players.
Key strengths include strong revenue growth and a clear expansion roadmap. However, the significant OFS component (roughly 54% of the issue size) indicates a substantial exit by existing shareholders, which can sometimes be perceived as a negative signal by cautious investors.
Overall, the IPO presents a mix of high-growth financials and significant promoter offloading. Investors may view this as a long-term play on the automotive electronics sector, though the listing day performance will likely depend on the final QIB subscription levels and overall market sentiment.