Dhoot Transmission Sets ₹829–871 Price Band for IPO, Launching on August 10

Dhoot Transmission, a leading automotive electrical and electronics parts supplier in India, has announced the dates, price band, and other details of its upcoming IPO. Launching on August 10, the company’s total issue size is ₹3,067 crore at the upper end of the price band. Of this, 1.61 crore shares amounting to ₹1,400 crore will be freshly issued, and ₹1,667 crore is structured as an offer for sale of 1.91 crore existing shares.

The price band has been set at ₹829–871 per equity share of face value ₹2, and allocations will be made in multiples of 17 shares. Axis Capital is the book running lead manager, and Kfin Technologies is the registrar. The issue will close on August 12, and the company will officially list on the BSE and NSE starting on August 17. The holdings of the promoter group will go down from 100 percent to 82.77 percent post-IPO.

Qualified institutional buyers can purchase no more than 50 percent of the issue, while retail investors have been allocated no less than 35 percent. Anchor investor bids will be taken on August 7.

As of March 31, 2026, Dhoot Transmission reported total income of ₹4,563.7 crore, a 31.43 percent YoY gain over the ₹3472.24 crore it posted in FY2025. Profit after tax was 396.84 crore and EBITDA was ₹710.99 crore.

The company has said it plans to use ₹766 crore of its IPO proceeds to repay current debt, including that of its subsidiaries. It will also spend ₹150 crore to complete two new upcoming facilities in Haryana and Tamil Nadu for manufacturing wireless harnesses, its core business. The remainder will be deployed for general corporate purposes and to fund unspecified future corporate acquisitions.

Speaking at the pre-IPO announcement, company founder and Managing Director Rahul Dhoot recapped the company’s history, saying it scaled up from revenue of 45 lakh in its first year, to about 4,500 in the most recent fiscal. Dhoot Transmission started as a Tier-II supplier, sub-contracted by Tier-I suppliers, until its work was spotted by Bajaj Auto Ltd in 2002, which led to the opportunity to develop and supply complete wiring harnesses for the iconic Chetak scooter.

Bajaj Auto is still the company’s biggest client, accounting for 32 percent of its business. Other customers include TVS (20 percent), Honda (11 percent), Royal Enfield (4 percent), and Suzuki. Due to India’s importance on the world stage in terms of bike manufacturing, Dhoot says his company’s offerings can be found in 14 percent of all bikes sold around the world.

Wiring harnesses brought in 82 percent of company revenue in FY24, which now stands at 77 percent even after a 23 percent CAGR, thanks to diversification efforts. Dhoot Transmission has begun developing India-made sensors, switches, controllers, and components such as USB Type-C and V2L modules.

Notable milestones include the acquisitions of TFC Cables, Slovakia, in 2017 and PHT in the UK in 2018. Other joint ventures include a partnership with an Israeli company to develop ADAS solutions for bikes. The company now has manufacturing and engineering operations in the UK, Slovakia, Germany, Thailand, South Korea, and Japan. A new R&D centre and battery manufacturing plant in Pune are planned for the near future.

According to Dhoot, the increasing amount of technology in vehicles over the past several years has led to increased importance but also complexity for wiring harnesses, and also new device categories to expand into.

ADAS, EV battery technology, and charging infrastructure are the next big areas of interest for the company. While it sees opportunities in the passenger car industry, Dhoot still sees plenty of room to grow in the electric bike market as penetration is still lower than in other markets.