Dhoot Transmission IPO: The ₹3,067 Crore Wiring Harness Issue and How It Listed
Dhoot Transmission IPO will open on August 10, 2026, with a price band of ₹829 to ₹871. Check the IPO dates, lot size, financial performance and listed peer comparison.
Dhoot Transmission IPO: The ₹3,066.89 crore issue, a ₹1,400 crore fresh issue plus a ₹1,666.89 crore offer for sale, was open from 10 to 12 August 2026 at ₹829 to ₹871 per share. Allotment was completed on 13 August, and the stock listed on the NSE at ₹1,200 on 17 August 2026, a 37.77% premium to the upper band.
Dhoot Transmission IPO: Dhoot Transmission is an electrical and electronics company that designs and manufactures wiring harnesses and electrical systems for automotive and non-automotive applications. The company came to market with a ₹3,066.89 cr IPO, which was a combination of fresh issue and OFS. Here are the key details of the Dhoot Transmission IPO.
Dhoot Transmission IPO Details
Here are the key dates and issue details.
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Dhoot Transmission IPO is worth ₹3,066.89 cr, and the issue is a combination of a fresh issue of ₹1,400.00 cr and offer for sale of ₹1,666.89 cr.
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Dhoot Transmission IPO opened for subscription on 10 Aug 2026 and closed on 12 Aug 2026. The price band was set between ₹829 to ₹871
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Dhoot Transmission IPO’s allotment took place on 13 Aug 2026 and the shares were listed on the BSE and NSE on 17 Aug 2026.
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Promoters held 100% before the IPO, which came down to 82.77% after listing.
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Kfin Technologies was the registrar for the Dhoot Transmission IPO.
|
Parameter |
Detail |
|---|---|
|
IPO Open Date |
10 Aug 2026 |
|
IPO Close Date |
12 Aug 2026 |
|
Allotment Date |
13 Aug 2026 |
|
Listing Date |
17 Aug 2026 (BSE & NSE) |
|
Price Band |
₹829 to ₹871 per share |
|
Lot Size |
17 shares |
|
Minimum Investment |
₹14,807 |
|
Fresh Issue |
₹1,400 Cr |
|
Offer for Sale (OFS) |
₹1,667 Cr |
|
Total Issue Size |
₹3,067 Cr |
Dhoot Transmission IPO Listing Performance
Dhoot Transmission shares debuted on the NSE at ₹1,200 on 17 August 2026, marking a 37.77% premium to the IPO’s upper price band of ₹871.
The grey market premium before listing had implied a gain of about 29%. The actual debut premium of nearly 38% exceeded it.
About Dhoot Transmission IPO
Dhoot Transmission, incorporated in April 1998, is an electrical and electronics company that makes wiring harnesses and electrical systems for automotive and non-automotive applications. Its products include wiring harnesses, battery packs, sensors, electronic controllers, switches, terminals, connectors and power supply cords for both ICE and EVs.
The company is among the top two players in India’s two-wheeler and three-wheeler wiring harness market, with a 41% market share. It is also a leader in electric 2W and 3W wiring harnesses, with a nearly 70% market share in FY26. Its products are also used in commercial vehicles, off-highway vehicles, farming equipment and industrial applications.
Around 95% of its automotive product portfolio is EV-focused or powertrain-neutral, positioning the company to benefit from the shift towards electric vehicles, premium vehicles, connected vehicles and automation.
Strengths
- Market leadership — top two players in India's 2W/3W wiring-harness market (~41% share); leader in electric 2W/3W wiring harnesses (~70% share, FY2026)
- Deep, established OEM relationships with major automotive manufacturers
- Broad EV-ready product portfolio — wiring harnesses, battery packs, sensors and switches
- Large manufacturing footprint spanning India, UK, Slovakia and Thailand
Risk Factors
- High customer concentration — top 10 customers contribute more than 80% of recent revenue
- No long-term volume commitments from OEM customers
- Revenue heavily weighted to the Indian 2W/3W segment specifically
- Capital-intensive, OEM-dependent manufacturing model carries margin and working-capital pressure
Dhoot Transmission IPO Reservation
For Dhoot Transmission IPO, 35% of the issue has been reserved for retail investors. The table below shows the allocation across different investor categories.
|
Investor Category |
Shares Offered |
|---|---|
|
QIB Investors |
50% |
|
Retail Investors |
35% |
|
NII (HNI) Investors |
15% |
Dhoot Transmission IPO Lot Size
Retail investors could apply for a minimum of 1 lot, which includes 17 shares costing ₹14,807 Maximum investment allowed for retail investors is 13 lots, which totals 221 shares and costs ₹1,92,491
|
Application |
Lots |
Shares |
Amount (₹) |
|---|---|---|---|
|
Retail (Min) |
1 |
17 |
14,807 |
|
Retail (Max) |
13 |
221 |
1,92,491 |
|
S-HNI (Min) |
14 |
238 |
2,07,298 |
|
S-HNI (Max) |
67 |
1,139 |
9,92,069 |
|
B-HNI (Min) |
68 |
1,156 |
10,06,876 |
Dhoot Transmission IPO Financial Performance
Dhoot Transmission reported a PAT of ₹396.84 Cr as of 31 March 2026, up from ₹298.75 Cr in FY24. Over the past 3 years, the company’s PAT and PAT margin have grown steadily. All financial details are provided in the table below.
|
Period Ended |
31 Mar 2026 |
31 Mar 2025 |
31 Mar 2024 |
|---|---|---|---|
|
Revenue from Ops (₹ Cr) |
4524.95 |
3444.86 |
2797.73 |
|
Total Income (₹ Cr) |
4,563.70 |
3,472.24 |
2,799.32 |
|
EBITDA (₹ Cr) |
710.99 |
590.96 |
512.40 |
|
EBITDA Margin (%) |
15.71 |
17.15 |
18.31 |
|
PAT (₹ Cr) |
396.84 |
353.89 |
298.75 |
|
PAT Margin (%) |
8.70 |
8.70 |
10.67 |
|
ROE (%) |
16.30 |
35.60 |
39.88 |
|
ROCE (%) |
19.14 |
29.66 |
33.56 |
|
Debt - Equity ratio |
0.35 |
0.78 |
0.74 |
Source: Dhoot Transmission IPO RHP
Dhoot Transmission IPO Peer Comparison from RHP
Dhoot Transmission IPO has a higher EPS than its peers. Higher EPS is always considered better. Below is a brief comparison of Dhoot Transmission IPO.
|
Company |
EPS Diluted |
P/E (X) |
|---|---|---|
|
Sona BLW Precision Forgings |
10.30 |
74.64 |
|
Motherson Sumi Wiring India |
0.94 |
43.24 |
|
Uno Minda |
20.75 |
56.87 |
|
Minda Corporation |
15.07 |
46.49 |
|
Dhoot Transmission. |
24.40 |
— |
As of 31 March 2026
Conclusion
Dhoot Transmission IPO was a ₹3,066.89 crore issue combining a ₹1,400 crore fresh issue and a ₹1,666.89 crore offer for sale, priced at ₹829 to ₹871 per share. The company designs and manufactures wiring harnesses and electrical systems for automotive and industrial customers and has kept healthy margins, although FY26 revenue and profit were below FY25. The shares listed at a 37.77% premium on 17 August 2026. With the promoter stake down to 82.77%, investors should now track order wins from vehicle makers and margin recovery rather than the listing-day move.
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