Dhoot Transmission Limited IPO
ListedMainboard
75.06×
Subscribed
Price band
₹871 – ₹871
Issue size
₹3.07k Cr
Open – close
10 Aug 2026
to 12 Aug 2026
Listing
17 Aug 2026
Listing gain
+37.77%
What the filing actually says
Our read of the offer document and the exchange data — not the issuer's summary of itself
Strong4 of 7 dimensions read
The disclosed numbers are strong — 4 of 4 signals read positive
Strength91/100
- Strong revenue growthRevenue compounding at 27.2% across the reported years
- Conservative balance sheetDebt/equity of 0.35×
- Fresh capital for the business100.0% of the issue is fresh capital raised by the company itself
- Institutions bid heavilyQIB portion subscribed 209.02×
Every line above is arithmetic on a figure shown elsewhere on this page - no model, no opinion. It describes the quality of the offering as disclosed, and is pulled toward neutral to reflect how much the document leaves unsaid. It is not a prediction of the listing price, and it is not advice to apply.
Dates
The issuer's tentative timetable — a date passing is not confirmation the step completed
- Opens10 Aug 2026
- Closes12 Aug 2026
- Listing17 Aug 2026
Demand and your odds
How the book filled, and what that means for an application
Subscription by category
Qualified institutionalQIB209.02x
Non-institutionalNII / HNI53.13x
Big NIIabove ₹10L59.41x
Small NII₹2L – ₹10L40.56x
Retail individualRII8.32x
Employee8.60x
53,07,144 applications received — how many people bid, as opposed to how much money did. Exchange figures as of 12 Aug 2026.
Chance of allotment
Retail8.32× subscribed
~1 in 8.3
Retail is 8.32× subscribed. Allotment is a lottery on a single lot, so roughly 1 in 8.3 applications gets one lot. Bidding for extra lots does not improve these odds.
HNI / NII53.13× subscribed
~1 in 53.1
HNI is 53.13× subscribed. This category is allotted proportionately, so a bid receives roughly 1/53.1 of the shares applied for, subject to the minimum-lot draw.
Derived from SEBI's allotment mechanics and the subscription figures beside it. Retail allotment is a lottery on a single lot, so applying for more lots does not improve your chance of getting something.
The offering
Terms, structure and who is selling
Terms
Price band₹871 – ₹871
Total issue size₹3.07k Cr
Listing atMainboard
Company & valuation
Debt / equity0.35×
ROE16.30%
ROCE19.14%
RoNW16.55%
PAT Margin8.70%
EBITDA Margin15.71%
NAV149.74
Price to Book Value5.82
ISININE01NH01023
0.0% of this issue is an offer for sale. The rest is fresh capital that goes into the company itself.
Who gets what
How the issue is split between investor categories, and what each may bid.
| Category | Shares | % of issue |
|---|---|---|
| QIB | 1,75,71,096 | 49.89% |
| Anchor Investor | 1,05,42,657 | 29.94% |
| QIB (Ex. Anchor) | 70,28,439 | 19.96% |
| NII (HNI) | 52,71,330 | 14.97% |
| bNII > ₹10L | 35,14,220 | 9.98% |
| sNII < ₹10L | 17,57,110 | 4.99% |
| Retail | 1,22,99,768 | 34.92% |
| Employee | 75,853 | 0.22% |
Total issue 3,52,18,047 shares. Indented rows sit inside the category above them and are not added to it.
What each category may bid
Retail (Min)₹14,8071 lot · 17 sh
Retail (Max)₹1,92,49113 lots · 221 sh
S-HNI (Min)₹2,07,29814 lots · 238 sh
S-HNI (Max)₹9,92,06967 lots · 1,139 sh
B-HNI (Min)₹10,06,87668 lots · 1,156 sh
Lot size alone does not answer "how much do I need" — an S-HNI minimum is several lots, not one.
Anchor book
Shares allotted1,05,42,657
Anchor portion₹918.27 Cr
Bid date07 Aug 2026
Lock-in ends (50%)11 Sept 2026
Lock-in ends (rest)10 Nov 2026
Anchors are institutional money placed a day before bidding opens, against a lock-in. Those two dates are when that stock can first be sold — a supply event worth knowing if you still hold.
What the money is for
Stated use of the net proceeds
- 01Repayment/prepayment, in full or in part, of all or certain outstanding borrowings availed by our Company₹464.8 Cr
- 02Investment in certain of our Subsidiaries, namely, Dhoot Autocomponents Private Limited, Dhoot Automotive Systems Private Limited and Dhoot Transmission UK Limited, for repayment/prepayment, in full or part, of all or certain of the outstanding borrowings availed by these Subsidiaries₹301.77 Cr
- 03Setting up of a new wiring harness manufacturing plant of our Company at (i) Sector 11, Jhajjar, Haryana, India; and (ii) Shoolagiri, Hosur, Tamil Nadu, India₹150 Cr
- 04Funding inorganic growth through unidentified acquisitions and general corporate purposesnot stated
Objects with no stated amount — typically general corporate purposes — are funded from whatever remains, so the quantified figures do not sum to the whole issue.
Financials
Restated figures as reported in the offer document, ₹ crore
| Period | Revenue | EBITDA | PAT | Net worth | Debt |
|---|---|---|---|---|---|
| 2024 | 2,797.726 | — | — | 749.164 | — |
| 2025 | 3,444.863 | — | — | 993.982 | — |
| 2026 | 4,524.955 | — | — | 2,434.951 | — |
Revenue CAGR 27.2%
Risks worth reading
Ranked by our severity assessment, not by the order the prospectus prints them
mediumWe derived a significant portion of our revenue from operations from the two-wheeler (2W) automotive sector in India (₹29,626.97 million, i.e. 65.47% in Fiscal 2026) and the three-wheeler (3W) automotive sector in India (₹5,817.77 million, i.e. 12.86% in Fiscal 2026), and our revenue from operations
mediumOur results of operations are particularly sensitive to factors specifically affecting wiring harnesses, including volatility in the price and availability of key raw materials and components used in wiring harnesses, such as copper, polymers, brass, connectors, terminals, cables, mouldings and elec
mediumOur results of operations are particularly sensitive to technological changes in the automotive industry, including the transition from internal combustion engine platforms to electric vehicle platforms, the polarisation between high-voltage and low-voltage harnesses, the transition to zonal and mod
Positives the filing discloses (3)
Primarily fresh capital
100% of the offer is fresh issue, so most proceeds fund the company.
Low leverage
Debt-to-equity of 0.35x.
Strong revenue growth
Restated revenue CAGR of 27.2%.
What happened to comparable issues
The last 8 issues to list with a recorded opening price, most comparable first
Median listing gain
+6.1%
Listed up
6 of 8
Best
+65.4%
Orient Cables (India) Limited
Worst
-2.3%
Vishal Nirmiti Limited
Fusion CX Limitedsame segment
4.5× sub+5.5%
HD Fire Protect Limitedsame segment
131.7× sub+23.6%
Nityas Gems and Jewellery Limitedsame segment
2.3× sub+6.7%
Vishal Nirmiti Limitedsame segment
1.7× sub-2.3%
Shah Investor's Home Limitedsame segment
38.1× sub+2.4%
Srit India Limitedsame segment
125.2× sub+13.8%
Runwal Enterprises Limitedsame segment
2.5× sub+0.0%
Orient Cables (India) Limitedsame segment
92.3× sub+65.4%
Past issues are context, not a forecast — this issue is a different company at a different price. We show it because "how have issues like this one actually opened" is a question with a real answer, and grey-market premium is not that answer.
Offer documents
The primary sources everything above is drawn from
Common questions
How many times is the Dhoot Transmission Limited IPO subscribed?
Dhoot Transmission Limited is subscribed 75.06× overall (QIB 209.02×, NII 53.13×, retail 8.32×). Subscription keeps changing until the issue closes; the final basis of allotment is published by the registrar.
What are the chances of allotment in the Dhoot Transmission Limited IPO?
The retail portion is subscribed 8.32×, so allotment is by lottery and the odds of receiving at least one lot are roughly 1 in 8. Applying for more lots does not improve the chance of getting something — every retail applicant competes for the same single minimum lot.
Disclaimer. Figures are compiled from the issuer's offer document and exchange-published bidding data. Subscription changes until the issue closes, and the final basis of allotment is published by the registrar. Grey-market premium is unofficial and is not a forecast. Nothing here is investment advice or a recommendation — read the offer document and consult a SEBI-registered adviser before applying.