Dhoot Transmission Limited has opened its initial public offering for subscription, with the book running from August 10 to August 12.
The ₹3,067 crore issue combines a fresh issue of ₹1,400 crore with an offer for sale by existing shareholders, marking the next step in the automotive component manufacturer's path to public markets.
This pricing sets the stage for a capital raise of approximately ₹2,250 crore ($270 million) through the fresh issue component, which is intended to fund working capital and general corporate purposes.
The subscription follows the company's decision to fix the price band at ₹829 to ₹871 per equity share.
This pricing sets the stage for a capital raise of approximately ₹2,250 crore ($270 million) through the fresh issue component, which is intended to fund working capital and general corporate purposes.
The offer for sale portion allows existing investors, including private equity backers, to exit or reduce their stakes.
Dhoot Transmission is a key player in the automotive wiring harness sector, supplying major original equipment manufacturers in India.