IPO Snapshot
Key metrics and details at a glance.
Price Band
₹871
Per ShareLot Size
17 Shares
Minimum Investment
₹14,807
Issue Size
₹3,066.89 Cr
Face Value
₹2
Per ShareIPO Type
Book Building
Retail Quota
35%
QIB Quota
50%
NII Quota
15%
IPO Timeline
Important dates for your applying strategy.
Subscription Status
Live demand across investor categories.
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*Real-time data subject to exchange updates
Dhoot Transmission Ltd
Business model, operations, and market positioning.
About the Company
We are one of India's leading electrical and electronics ("E&E") companies. We design, engineer, manufacture and supply critical wiring harnesses that integrate electronic sensors and controllers, switches, terminals, connectors, junction boxes, high-voltage interconnection systems and data cables, delivering application-specific architectures across platforms. We serve both automotive and non-automotive applications, supporting stringent performance, safety and reliability requirements for OEMs. In line with the industry's shift in powertrain, we cater to the spectrum of powertrain architectures across customer segments and end markets. We manufacture wiring harnesses and electrical distribution systems for internal combustion engine ("ICE") vehicles and electric vehicles ("EV"). Our offerings also include battery packs, switches, sensors (such as ABS sensors and lean angle sensors), controllers (such as USB chargers and light control modules) and power supply cords. Further, we are in the process of developing certain products such as side stand sensors and temperature sensors.
Company History
Our Company was originally incorporated as "Dhoot Transmission Private Limited" as a private limited company under the Companies Act, 1956, pursuant to a certificate of incorporation dated April 28, 1998, issued by the Assistant Registrar of Companies, Maharashtra at Mumbai. Further, the registered office of our Company was changed from Dhoot Motors Adalat Road, Aurangabad 431 001, Maharashtra, India, to our current Registered Office pursuant to a fresh certificate of incorporation dated March 18, 2008 issued by the Registrar of Companies, Maharashtra at Pune ("RoC"). For further details, see "History and Certain Corporate Matters-Changes in the Registered Office" on page 291 . Subsequently, upon conversion of our Company into a public limited company, the name of our Company was changed to "Dhoot Transmission Limited" pursuant to a resolution passed by our Board on November 24, 2025 and by our Shareholders on November 25, 2025, and a fresh certificate of incorporation dated December 4, 2025 was issued by the RoC.
Growth Strategy
- Capitalizing on trends toward electrification and premiumization to broaden our product portfolio across segments and technologies, driving greater content per vehicle and expanding our customer base.
- Continue to focus on our design, research and development ("R&D") and engineering capabilities to develop innovative systems and solutions, as well as improve our manufacturing efficiencies.
- Invest ahead of demand through capacity expansion.
- Pursue selective inorganic expansion through acquisitions, joint ventures or technology partnerships to gain access to new technologies, customers, and global markets.
Promoter Holding (Pre-Issue)
100%
Promoter Holding (Post-Issue)
75.69%
Issue Type
Book Building
ISIN
INE01NH01023
Financial Performance
Revenue, profit, and asset growth over the last three financial years.
Data presented in crores for FY20 to FY24.
Objects of the Issue
How the company plans to utilize IPO proceeds.
The funds raised through this IPO will be used for:
Initial public offering of up to 35,211,080 equity shares of face value of Re. 2 each ("Equity Shares") of Dhoot Transmission Limited ("the Company" or "the Company") for cash at a price of Rs. 871 per equity share (including a premium of Rs. 869 per equity share) ("Offer Price") aggregating up to Rs. 3066.89 Crores (the "Offer") comprising of a fresh issue of up to 16,073,478 equity shares of face value of Re. 2 each aggregating up to Rs. 14,00.00 Crores (the "Fresh Issue") and an offer for sale of up to 19,137,602 equity shares of face value of Re. 2 each aggregating up to Rs. 1666.89 Crores (the "Offer For Sale"), consisting of up to 16,018,769 equity shares of face value of Re. 2 each aggregating up to Rs. 1395.23 Crores by Bc Asia Investments Xv Limited ("Promoter Selling Shareholder") and up to 3,118,833 equity shares of face value of Re. 2 each aggregating up to Rs. 271.65 Crores by Mangalam Capital Private Limited (formerly known as Mangalam Coils Private Limited) ("Promoter Group Selling Shareholder" , together with the promoter selling shareholder, the "Selling Shareholders" and such equity shares, the "Offered Shares"). This offer includes a reservation of up to 68,886 equity shares of face value of Rs. 2 each (constituting up to 5% of the post-offer paid-up equity share capital of the company) aggregating up to Rs. 6 Crores for subscription by eligible employees (the "Employee Reservation Portion"). The offer less the employee reservation portion is hereinafter referred to as the "Net Offer". The offer and the net offer will constitute [*]% and [*]% of the post-offer paid-up equity share capital of the company, respectively. Price Band: Rs. 871 per equity share of face value of Rs. 2 each. The floor price 435.50 times the face value of the equity shares, respectively. Bids can be made for a minimum of 17 equity shares of face value of Rs. 2 each and in multiples of 17 equity shares of face value of Rs. 2 each thereafter. A discount of Rs. 80 per equity share is being offered to eligible employees bidding in the employee reservation portion.
*Subject to approvals and market conditions.
- Established leadership position in India and scaled operations in 2W and 3W wiring harnesses, supported by an extensive and critical product portfolio.
- It's positioned to capitalize on key industry trends, leveraging our differentiated capabilities to deliver sustained growth and value.
- Strong business foundation anchored by a marquee customer base and diversified business mix, enabling sustained growth.
- Strong financial performance.
- Professional & Experienced Management Team, robust R&D team and investor support.
- The company derived a significant portion of its revenue from operations (Rs. 29,626.97 million, Rs. 23,049.09 million and Rs. 18,052.79 million, i.e. 65.47%, 66.91% and 64.53%, in Fiscal 2026, Fiscal 2025 and Fiscal 2024, respectively) from the two-wheeler ("2W") automotive sector in India, and Rs. 5,817.77 million, Rs. 4,305.00 million and Rs. 3,275.70 million, i.e. 12.86%, 12.50% and 11.71%, in Fiscal 2026, Fiscal 2025 and Fiscal 2024, respectively, from the three-wheeler ("3W") automotive sector in India, in each case primarily through the sale of wiring harnesses, which constituted 77.08%, 78.00% and 81.93% of its revenue from operations in Fiscals 2026, 2025 and 2024, respectively. Any adverse changes in these sectors in India, or in demand for, pricing of or technology relating to wiring harnesses, could adversely impact the company's business, results of operations, cash flows and financial condition.
- The company is dependent on its top five and top ten customers. The company's top ten customers (based on contribution to revenue from operations in Fiscal 2026) contributed 80.93%, 81.81% and 77.90% of its revenue from operations in Fiscals 2026, 2025 and 2024, respectively. Any failures to maintain the company's relationship with these customers will have an adverse effect on its business, results of operations, cash flows and financial condition.
- The company does not has firm, long-term volume commitments with OEM customers. Termination, modification or reductions in customer requirements could adversely affect its business, results of operations, financial condition and cash flows.
- The company's business is capital intensive and its incur substantial capital expenditure and working capital requirements and may requires additional financing to meet those requirements, which could have an adverse effect on the company's business, results of operations, cash flows and financial condition.
- The company derived 90.14%, 89.80% and 86.92% of its revenue from contract with customers in Fiscals 2026, 2025 and 2024, respectively, within India as a % of revenue from operations. Any adverse changes in economic or regulatory conditions that negatively affect the demand for the company's products in these markets could affect its results of operations.