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Bain-backed Dhoot Transmission plans nearly ₹2,250 crore IPO in August
The IPO would include a ₹1,400 crore fresh share issue plus an offer for sale of up to 16.3 million shares, with Bain Capital and Mangalam Capital each selling stakes.
LiveMint Markets says Bain Capital-backed Dhoot Transmission Ltd is preparing to launch a nearly ₹2,250 crore initial public offering as early as the first week of August, citing two people familiar with the matter.
The outlet reports the company received Securities and Exchange Board of India approval in May after a confidential filing in February, followed by updated draft papers later that month.
According to the draft papers, the proposed deal would comprise a fresh issue of shares worth ₹1,400 crore and an offer for sale of up to 16.3 million shares. Bain Capital would sell up to 13.2 million shares, while Mangalam Capital Pvt Ltd would offload about 3.12 million shares.
Dhoot Transmission, founded by Rahul Dhoot in 1999, supplies original equipment manufacturers across the automotive and consumer durables sectors, and its product range includes wiring harnesses, automotive switches, and electronic sensors and controllers for vehicles and other applications, according to LiveMint Markets.