Dhoot Transmission Ltd is preparing to launch an initial public offering worth approximately ₹2,250 crore ($270 million) as early as the first week of August.
The automotive component manufacturer, backed by private equity firm Bain Capital, has secured approval from the Securities and Exchange Board of India (Sebi) to proceed with the public issue, according to people familiar with the matter.
The listing adds to a growing queue of private equity-backed companies seeking to tap India's equity markets.
Investment bankers are currently preparing roadshows for at least five to six similar deals, signaling a broadening of the IPO pipeline beyond the recent debuts of consumer-facing brands.
The timing coincides with a period of renewed investor appetite for primary market opportunities in India.
Dhoot Transmission's entry into the public sphere follows closely on the heels of Milky Mist Dairy Food Ltd, which is also set to launch its IPO in early August to raise ₹2,035 crore.