New Delhi, 10 August (H.S.): The Rs 3,066.89-crore initial public offering (IPO) of Dhoot Transmission, a manufacturer of electrical distribution systems for automotive and non-automotive applications, opened for subscription on Monday. The issue will remain open for bidding until August 12. Following the closure of the issue, the allotment of shares is scheduled for August 13, while the allotted shares are expected to be credited to investors’ demat accounts on August 14. The company’s shares are likely to be listed on the BSE and NSE on August 17.

The price band for the IPO has been fixed at Rs 829 to Rs 871 per share, while the lot size has been set at 17 shares. Retail investors can bid for a minimum of one lot, comprising 17 shares, requiring an investment of Rs 14,807. At the upper end of the price band, a retail investor can bid for a maximum of 13 lots, or 221 shares, with an investment of Rs 1,92,491.

Under the issue, a total of 3,52,18,047 shares with a face value of Rs 2 each are being offered. This includes 1,60,80,445 fresh shares valued at approximately Rs 1,400 crore, while 1,91,37,602 shares worth around Rs 1,667 crore are being offered through the offer-for-sale (OFS) component.

Up to 50 per cent of the issue has been reserved for qualified institutional buyers (QIBs). Retail investors have been allocated at least 35 per cent of the issue, while a minimum of 15 per cent has been reserved for non-institutional investors (NIIs).

Axis Capital Limited has been appointed as the book-running lead manager for the issue, while KFin Technologies Limited is acting as the registrar.

According to claims made in the company’s Draft Red Herring Prospectus (DRHP) filed with market regulator SEBI, Dhoot Transmission has maintained a strong financial position. The company reported a net profit of Rs 298.75 crore in financial year 2023-24, which increased to Rs 353.89 crore in 2024-25. In the latest financial year, 2025-26, its net profit rose further to Rs 396.84 crore.

The company’s revenue also recorded consistent growth during the period. Its total revenue stood at Rs 2,799.32 crore in 2023-24, rising to Rs 3,472.24 crore in 2024-25. In 2025-26, revenue increased further to Rs 4,563.70 crore.

However, the company’s debt burden also increased during the period. At the end of 2023-24, its outstanding debt stood at Rs 554.90 crore, which rose to Rs 776.06 crore in 2024-25. By the end of 2025-26, the company’s debt had increased further to Rs 841.49 crore.

The company’s reserves and surplus also registered substantial growth. At the end of 2023-24, reserves and surplus stood at Rs 724.24 crore, increasing to Rs 961.53 crore in 2024-25. In 2025-26, the figure surged to Rs 2,360.40 crore.

The company’s net worth also increased significantly during the period. It stood at Rs 741.01 crore in 2023-24 and rose to Rs 978.18 crore in 2024-25. In 2025-26, Dhoot Transmission’s net worth reached Rs 2,397.15 crore.

Similarly, the company’s EBITDA (earnings before interest, taxes, depreciation and amortisation) increased from Rs 512.40 crore in 2023-24 to Rs 590.96 crore in 2024-25. In 2025-26, EBITDA rose further to Rs 710.99 crore.

---------------

Hindusthan Samachar / Jun Sarkar