DHOOT TRANSMISSION LTD IPO: Company Review, Subscription and Allotment Updates
2026-08-08 — Company overview and issue details DHOOT TRANSMISSION LTD IPO (ABOUT THE COMPANY) DHOOT TRANSMISSION LTD – COMPANY BACKGROUND Dhoot Transmission Ltd was incorporated in 1998 and is engaged in the design, engineering, and…
2026-08-08 — Company overview and issue details
DHOOT TRANSMISSION LTD IPO (ABOUT THE COMPANY)
DHOOT TRANSMISSION LTD – COMPANY BACKGROUND
Dhoot Transmission Ltd was incorporated in 1998 and is engaged in the design, engineering, and manufacture of wiring harnesses and electrical distribution systems for automotive as well as for non-automotive applications. Its product portfolio includes wire harnesses, battery packs, sensors, electronic controllers, automotive switches, terminals, connectors, and power supply cords. It caters to the IC and the EV platforms. Dhoot Transmission has an imposing 41% market share of wiring harnesses for 2-wheelers and 3-wheelers overall, with a 70% market share in the EV market. While the company essentially supplies to the OEMs, it also has a diversified customer base.
Dhoot Transmission Ltd has been promoted by BC Asia Investments XV Ltd and Rahul Radhavallabh Dhoot. The IPO will be a combination of a fresh issue of shares and an offer for sale (OFS) component. The fresh issue funds will be used for repayment of loans, investment in subsidiary, setting up new wiring harness manufacturing plant at Jhajjar and Hosur, as well as for general corporate purposes. The OFS is being done entirely by promoter shareholders. The issue is being lead-managed by Axis Capital, Jefferies India, Kotak Mahindra Capital, Nomura Financial Advisory, SBI Caps, and 360 One WAM; while KFIN Technologies Ltd (KFINTECH) is the registrar to the IPO.
HIGHLIGHTS OF THE IPO ISSUE OF DHOOT TRANSMISSION LTD
Here are the key highlights of the public issue of Dhoot Transmission Ltd.
The IPO is open from August 10th, 2026 to August 12th, 2026. It has a face value of ₹2 per share and the IPO price band has been fixed in the range of ₹829 to ₹871 per share.
The IPO of Dhoot Transmission Ltd will be a combination of a fresh issue of shares and an offer for sale of shares by the promoter shareholders.
The Fresh Issue portion of the IPO comprises the issue of 1,60,80,445 shares (160.80 lakh shares), which at the upper price band of ₹871 per share, translates into a fresh issue size of ₹1,400.61 crore.
The offer for sale (OFS) portion of the IPO comprises the sale of 1,91,37,602 shares (191.38 lakh shares), which at the upper price band of ₹871 per share, translates into an OFS size of ₹1,666.89 crore.
Therefore, the overall IPO will comprise of the fresh issue portion and offer for sale (OFS) portion comprising of 3,52,18,047 shares (352.18 lakh shares), which at the upper price band of ₹871 per share translates into overall issue size of ₹3,067.49 crore.
Due to the dilutive impact of the fresh issue; the promoter’s stake in the company will get reduced from 100.00% to 82.78% of the total shares outstanding post the IPO.
The IPO of Dhoot Transmission Ltd will be listed on the NSE and the BSE on the IPO mainboard. The anchor allocation happened on August 07, 2026.
KEY DATES, INVESTOR ALLOCATION, AND LOT SIZES
Here are the key dates pertaining to the IPO of Dhoot Transmission Ltd
| Event | Tentative Date |
|---|---|
| IPO Open Date | Monday, 10 August, 2026 |
| IPO Close Date | Wednesday, 12 August, 2026 |
| Basis of Allotment | Thursday, 13 August, 2026 |
| Initiation of Refunds to non-allottees | Friday, 14 August, 2026 |
| Credit of Shares to Demat | Friday, 14 August, 2026 |
| Listing Date on NSE and BSE | Monday, 17 August, 2026 |
Data Source: Company RHP
Investors can apply either through their existing trading account or the ASBA application can be directly logged through the internet banking account. This can only be done through the authorized list of self-certified syndicate banks (SCSB).
The table below captures the gist of the allocation to various categories.
| Investor Category | Share Allocation | % Share |
|---|---|---|
| Reservation for Employees | 80,106 shares | 0.23% of total IPO size |
| Anchor Allocation | 1,05,42,657 shares | 29.70% of total IPO size |
| QIB Shares Offered | 68,99,735 shares | 19.44% of total IPO size |
| NII (HNI) Shares Offered | 53,92,957 shares | 15.19% of total IPO size |
| Retail Shares Offered | 1,25,83,565 shares | 35.45% of total IPO size |
| Total Shares Offered | 3,54,99,020 shares | 100.00% of Total IPO size |
Data Source: Security Parameters Filing (NSE)
The anchor portion, is carved out of the QIB portion and the QIB portion available in the IPO offer has been reduced proportionately. Please note that the above shares are final and may differ marginally from the original announcement.
Here is a quick look at the lot sizes applicable for the IPO of Dhoot Transmission Ltd for various categories of investors.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 17 | ₹ 14,807 |
| Retail (Max) | 13 | 221 | ₹ 1,92,491 |
| S-HNI (Min) | 14 | 238 | ₹ 2,07,298 |
| S-HNI (Max) | 67 | 1,139 | ₹ 9,92,069 |
| B-HNI (Min) | 68 | 1,156 | ₹ 10,06,876 |
It may be noted here that for the B-HNI category and for the QIB (qualified institutional buyer) category, there are no upper limits applicable. (1 Lot = 17 shares)
FINANCIAL HIGHLIGHTS OF DHOOT TRANSMISSION LTD
The table captures the key financials of Dhoot Transmission Ltd for last 3 financial years.
| Particulars | FY26 | FY25 | FY24 |
|---|---|---|---|
| Net Revenues (₹ in crore) | 4,524.96 | 3,444.86 | 2,797.73 |
| Sales Growth (%) | 31.35% | 23.13% | |
| Profit after Tax (₹ in crore) | 396.84 | 353.89 | 298.75 |
| PAT Margins (%) | 8.77% | 10.27% | 10.68% |
| Total Equity (₹ in crore) | 2,434.34 | 993.57 | 748.26 |
| Total Assets (₹ in crore) | 4,114.83 | 2,336.23 | 1,711.70 |
| Return on Equity (%) | 16.30% | 35.62% | 39.93% |
| Return on Assets (%) | 9.64% | 15.15% | 17.45% |
| Asset Turnover Ratio (X) | 1.10 | 1.47 | 1.63 |
| Earnings per share (₹) | 24.40 | 24.31 | 20.83 |
| EBITDA (₹ in Crore) | 710.99 | 590.96 | 512.40 |
| EBITDA Margins (%) | 15.71% | 17.15% | 18.31% |
Data Source: Company RHP filed with SEBI (FY refers to Apr-Mar period)
Sales has shown smart traction in the last 3 year in sync with the growing demand for EV-based 2-wheelers and 3-wheelers. PAT margins are in single digits in the latest year, and even the return on equity (ROE) has fallen sharply in the last 3 years from 39.9% to 16.3%. The challenge for the company would be to ensure that ROE does not impact discounting.
VALUATION METRICS OF DHOOT TRANSMISSION LTD IPO
Based on the latest EPS of ₹24.40, the IPO price of ₹871 per share is being discounted at a P/E ratio of 35.7X. If you compare with other listed peers, the P/E implied in the IPO pricing appears to be more reasonable than competition. This is despite the RONW representing the median figure in the peer group. This leaves sufficient headroom for investors in the IPO, in terms of comparative peer-group pricing.
Let us look at some of the intangibles that the company brings to the table. The company has a leadership in the 2-wheeler and 3-wheeler space with about 41% market share in wiring harnesses. If you just look at the fast-growing EV segment, then the market share is above 70%. That is more in sync with the future. It has a strong OEM support base as well as a spread-out business mix. Investors in the IPO can look at it for the long-term exposure.
2026-08-08 — Anchor allocation
DHOOT TRANSMISSION LTD IPO (ANCHOR ALLOCATION 29.70%)
BRIEF ON ANCHOR ALLOCATION OF DHOOT TRANSMISSION LTD
The anchor issue of Dhoot Transmission Ltd saw a robust response on 07th August 2026 with 29.70% of the IPO size absorbed by anchors. Out of 3,54,99,020 shares (354.99 lakh shares) on offer in the IPO; anchors picked up 1,05,42,657 shares (105.43 lakh shares) accounting for 29.70% of the total IPO size. The entire anchor allocation was made at the upper end of the price band of ₹871 per share. This includes the face value of ₹2 per share plus a share premium of ₹869 per share. The anchor bidding opened and closed on 07th August 2026.
KEY POINTS TO NOTE IN THE ANCHOR ALLOCATION PROCESS
Here are the key details pertaining to the anchor bidding of Dhoot Transmission Ltd
| Bid Date | August 07, 2026 |
|---|---|
| Shares Offered | 1,05,42,657 shares |
| Anchor Portion Size (₹ in crore) | ₹918.27 crore |
| Anchor lock-in period end date for 50% shares (30 Days) | Sep 11, 2026 |
| Anchor lock-in period end date for remaining shares (90 Days) | Nov 10, 2026 |
An anchor investor in an IPO is a qualified institutional buyer (QIB) like a foreign portfolio investor or mutual fund or insurance company or a sovereign fund which invests before the IPO is made available to the public as per SEBI regulations. It helps in price discovery.
MAJOR ANCHOR ALLOCATION INVESTORS IN DHOOT TRANSMISSION LTD
On 07th August 2026, Dhoot Transmission Ltd allotted 1,05,42,657 shares to a total of 72 anchor investors. The allocation was done at the upper IPO price band of ₹871 per share which resulted in overall anchor allocation of ₹918.27 crore. The anchors have already absorbed 29.70% of the total issue size of ₹3,091.32 crore. Listed below are the Top 10 IPO anchor investors who accounted for anchor collection of ₹384.44 crores, or, 41.87% of the overall anchor allocation of shares, one trading day ahead of the IPO of Dhoot Transmission Ltd. The individual anchor allocation of top-10 investors is indexed descending on the number of shares allotted, and captured in the table below.
| Anchor Investors | No. of Shares | % of Anchor Portion | Value Allocated | |
|---|---|---|---|---|
| 01 | ICICI Pru Small Cap Fund | 8,23,480 | 7.81% | ₹ 71.73 |
| 02 | SBI Multicap Fund | 6,31,465 | 5.99% | ₹ 55.00 |
| 03 | Ashoka Whiteoak EM Equity Fund | 5,16,664 | 4.90% | ₹ 45.00 |
| 04 | Mirae Asset Focused Fund | 5,16,664 | 4.90% | ₹ 45.00 |
| 05 | Abu Dhabi Investment Authority - Stable | 4,01,846 | 3.81% | ₹ 35.00 |
| 06 | Blackrock Global Funds - India | 3,66,945 | 3.48% | ₹ 31.96 |
| 07 | Blackrock Emerging Frontiers Fund | 3,21,929 | 3.05% | ₹ 28.04 |
| 08 | HDFC Transport & Logistics Fund | 3,03,110 | 2.88% | ₹ 26.40 |
| 09 | SBI Automotive Opportunities Fund | 2,87,028 | 2.72% | ₹ 25.00 |
| 10 | Axis Small Cap Fund | 2,44,613 | 2.32% | ₹ 21.31 |
| Grand Total | 44,13,744 | 41.87% | ₹ 384.44 |
Data Source: BSE Filings (Value Allocated is ₹ in Crore)
The detailed and comprehensive report on the anchor allocation, with the mutual fund portion segregated, can be accessed on BSE by clicking on the link below.
Out of the 1,05,42,657 shares allocated to the anchors in the IPO, there was an allocation of 64,59,984 shares made to mutual funds regulated by SEBI. This anchor allocation to mutual funds was spread across 46 MF scheme of 8 asset management company (AMC). Mutual funds accounted for 61.27% of the overall anchor allocation.
Out of the 1,05,42,657 shares allocated to the anchors in the IPO, there was an allocation of 9,21,895 shares made to 5 life insurance companies regulated by IRDAI. The life insurance companies accounted for 8.74% of the overall allocation of Dhoot Transmission Ltd
The remaining anchor allocation was spread across FPIs, ODIs, and alternate investment funds (AIFs).
NEXT STEPS IN DHOOT TRANSMISSION LTD IPO
Post the closure of the IPO subscription on 12th August 2026, the basis of allotment will be finalized on 13th August 2026 and the refunds will be initiated on 14th August 2026. In addition, the demat credits are expected to also happen on 14th August 2026 and the stock will list on 17th August 2026 on the NSE and the BSE. The credits to the demat account to the extent of shares allotted will happen by the close of 14th August 2026 under ISIN (INE01NH01023).
2026-08-12 — Day-3 subscription update
Dhoot Transmission Ltd (Day-3 Final Subscription at 74.21 times)
DHOOT TRANSMISSION LTD - IPO SUBSCRIPTION STATUS ON DAY-3
As of 7.20 pm on 12th August 2026, out of the 249.56 lakh shares on offer in the IPO (excluding anchor portion), Dhoot Transmission Ltd saw bids for 18,519.72 lakh shares. This implies an overall subscription of 74.21X at a macro level. The granular break-up of subscriptions at close of Day-3 of the IPO of Dhoot Transmission Ltd was as under:
| Employees (8.14X) | QIBs (212.92X) | HNI / NII (51.93X) | Retail (8.12X) |
|---|
The subscriptions were led by the QIB Investors followed by the HNI / NII investors and the Retail investors in that order. QIB bids and NII bids typically gather most of the momentum only on the last day. That was the case in this IPO too. Both, the QIB portion and the HNI / NII portion saw bulk of the institutional, corporate and funded subscriptions come in on the last day of the IPO. The company saw steady anchor participation a day ahead of the IPO opening with 29.70% of the IPO size absorbed by anchor investors. Here is the category-wise subscription. The overall subscription ratio excludes anchor portion.
| Investor Category | Subscription (times) | Shares Offered | Shares bid for | Total Amount (₹ in Crore) |
|---|---|---|---|---|
| Anchor Investors | 1.00 | 1,05,42,657 | 1,05,42,657 | 918.27 |
| Employee Quota | 8.14 | 80,106 | 6,52,392 | 56.82 |
| QIB Investors | 212.92 | 68,99,735 | 1,46,90,58,281 | 1,27,954.98 |
| HNIs / NIIs | 51.93 | 53,92,957 | 28,00,59,292 | 24,393.16 |
| Retail Investors | 8.12 | 1,25,83,565 | 10,22,01,620 | 8,901.76 |
| Total | 74.21 | 2,49,56,363 | 1,85,19,71,585 | 1,61,306.73 |
Data Source: NSE / BSE (as of close of Day-3 of the IPO)
The IPO of Dhoot Transmission Ltd was open up to August 12, 2026, and has closed for subscription as of the close of trading hours on August 12, 2026. The subscription ratios presented in the table above represent the final subscription numbers for each category and also for the IPO overall. Generally, the listing price of the IPO and the post-listing performance tend to get influenced by the extent of oversubscription of the IPO. However, it must also be noted that a higher subscription is not an automatic guarantee of a strong listing performance for the IPO stock. The final subscription ratio excludes anchor portion. Total bids as of the close (including anchor allocation) stood at ₹1,62,225 crore.
NEXT STEPS IN THE DHOOT TRANSMISSION LTD IPO
Post the closure of the IPO subscription on 12th August 2026, the basis of allotment will be finalized on 13th August 2026 and the refunds will be initiated on 14th August 2026. In addition, the demat credits are expected to also happen on 14th August 2026 and the stock will list on 17th August 2026 on the NSE and the BSE. The credits to the demat account to the extent of shares allotted will happen by the close of 14th August 2026 under ISIN (INE01NH01023).
2026-08-12 — Allotment guidance and next steps
Dhoot Transmission Ltd (How to check allotment status online)
ABOUT THE DHOOT TRANSMISSION LTD IPO
The IPO of Dhoot Transmission Ltd opened on August 10th, 2026 and closed on August 12th, 2026. The IPO comprised of a fresh issue and an offer for sale (OFS) of 3,54,99,020 shares (354.99 lakh shares) worth ₹3,091.96 crore at the upper band price of ₹871 per share. There is no offer for sale (OFS) component in this IPO. The allotment status will be finalized by EOD of August 04, 2026. Here is how to check allotment status for the IPO of Dhoot Transmission Ltd. You can check IPO status on BSE or NSE or IPO Registrar website of KFIN Technologies Ltd (KFINTECH).
CHECKING ALLOTMENT STATUS OF DHOOT TRANSMISSION LTD ON BSE WEBSITE
This is a common link for all mainboard IPOs. Click on BSE link for IPO allotment as below.
https://www.bseindia.com/investors/appli_check.aspx
Once you reach the page, here are the steps to follow.
Under Issue Type – Select Equity Option
Under Issue Name – Select Dhoot Transmission Ltd from the drop-down box
Enter the Application Number / CAF exactly as in the acknowledgement slip
Alternatively, Enter your PAN (10-digit alphanumeric) number
Once this is done, you need to click on the Captcha to verify you are not a robot
Finally click on the Search Button
You can use either of the parameters to query; Application / CAF number or Investor PAN.
The allotment status will be displayed on the screen in front of you informing about the number of shares of Dhoot Transmission Ltd allotted into your demat account. You can save a screenshot of the allotment status output for tallying with the demat account credits.
CHECKING ALLOTMENT STATUS OF DHOOT TRANSMISSION LTD ON NSE WEBSITE
This is a common link for all IPOs. Click on NSE link for IPO allotment as below.
https://www.nseindia.com/invest/check-trades-bids-verify-ipo-bids
Once you reach the page, here are the steps to follow.
Under Issue Type – Select Equity & SME IPO Details Option
Under SELECT SYMBOL – Select DHOOTTRANS from the drop-down box
Enter the Application Number / CAF exactly as in the acknowledgement slip
Enter your PAN (10-digit alphanumeric) number
Once both are entered, click on the Submit Button
You must input the Application / CAF number and the Investor PAN.
The allotment status will be displayed on the screen in front of you informing about the number of shares of Dhoot Transmission Ltd allotted into your demat account. You can save a screenshot of the allotment status output for tallying with the demat account credits.
CHECKING ALLOTMENT STATUS OF DHOOT TRANSMISSION LTD ON KFIN TECHNOLOGIES LTD (REGISTRAR TO THE IPO)
Visit the website of KFIN Technologies Ltd, which has been appointed as the registrar for the issue. You can access their website for IPO status by clicking on the link below:
https://kosmic.kfintech.com/ipostatus/
KFIN Technologies Ltd provides details of IPOs managed by them and where allotment status is finalized. Radio buttons allow you to opt to see all IPOs or just recent IPOs. The latter option reduces the list of IPOs to search. Once you click on Recent IPOs, dropdown shows recent active IPOs, where allotment status is finalized. Select Dhoot Transmission Ltd.
THERE ARE 3 WAYS TO QUERY ALLOTMENT STATUS ON KFIN TECHNOLOGIES LTD
To Query by Application Number, check the appropriate box and follow these steps.
Enter the Application Number as it is
Enter the 6-digit Captcha Code
Click on Submit button
Allotment Status gets displayed on screen
Unlike in the past, now you do not have to select ASBA versus Non-ASBA option.
To Query by Demat Account, check the appropriate box and follow these steps.
First select the depository (NSDL / CDSL)
Enter the DP-ID (Alphanumeric for NSDL and Numeric for CDSL)
Enter the Client-ID in the second box
For NSDL, the Demat account is 2 strings; for CDSL it is just 1 string
Enter the 6-digit Captcha Code
Click on Submit button
Allotment Status gets displayed on screen
To Query by PAN, check the appropriate box and follow these steps.
Enter the 10-Character PAN number, available on your PAN card
After you enter the PAN number, Enter the 6-digit numeric Captcha Code
Click on Submit button
Allotment status gets displayed on screen
If captcha code is not clear; toggle for more options. Retain a screenshot of the allotment status output for future reference. This can be tallied with demat credit post allotment.
NEXT STEPS IN THE DHOOT TRANSMISSION LTD IPO
Post the closure of the IPO subscription on 12th August 2026, the basis of allotment will be finalized on 13th August 2026 and the refunds will be initiated on 14th August 2026. In addition, the demat credits are expected to also happen on 14th August 2026 and the stock will list on 17th August 2026 on the NSE and the BSE. The credits to the demat account to the extent of shares allotted will happen by the close of 14th August 2026 under ISIN (INE01NH01023).
Interested in applying for this IPO?
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