Dhoot Transmission Ltd. is scheduled to list its initial public offering on the BSE and NSE today at 10:00 IST [4, 5].
The debut marks a significant capital raise for the Bain Capital-backed automotive wiring harness manufacturer, signaling strong investor appetite for the automotive supply chain.
The company set its IPO price per share at Rs 871 [2]. The total size of the offering reached Rs 3,066.89 crore [1].
Investor demand remained high during the subscription window, which ran from Aug. 10 to Aug. 12, 2024 [9]. Total bidding reached 74.21 times the available shares [8]. The Qualified Institutional Buyers (QIB) segment showed even deeper interest, with a subscription multiple of 212.92 times [7].
Market sentiment ahead of the listing remained positive. The grey market premium reached Rs 264 [3]. This amount represents approximately 30% of the original issue price [3].
The listing takes place on Dalal Street in Mumbai, where the company seeks to leverage its position as a key supplier in the automotive sector [3, 4].
“The total size of the offering reached Rs 3,066.89 crore.”
The heavy oversubscription, particularly among institutional buyers, suggests that professional investors view the automotive wiring sector as a growth area. A 30% grey-market premium typically indicates that the market believes the IPO was underpriced, which often leads to a positive listing pop on the first day of trading.
