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Dhoot Transmission IPO shares set to list on Aug. 17 after strong demand
The auto components maker’s IPO subscription reached 74.2 times, with QIBs booked 212.9 times and non-institutional investors subscribing 51.9 times.
Dhoot Transmission is set to list on the Indian stock market on Monday, 17 August, after its IPO allotment was finalized on Thursday, 13 August. Allocated shares were expected to be credited to investors’ demat accounts on Friday, 14 August, while refunds were also scheduled to go out the same day, according to LiveMint Markets.
The IPO was open for subscription from 10 August to 12 August and attracted heavy participation across segments. Non-institutional investors (NIIs) subscribed to their portion 51.93 times, qualified institutional buyers (QIBs) booked 212.92 times, and the retail portion was subscribed 8.12 times, leading to an overall subscription of 74.21 times, based on BSE data.
The price band was fixed at ₹829 to ₹871 per equity share, with a ₹2 face value. The grey market premium (GMP) stood at +₹266 on the day, implying an estimated listing price of ₹1,137 at the upper end of the band, about 30.5% above the IPO price, LiveMint Markets reported.
The offering includes a fresh issue of equity shares worth ₹1,400 crore and an offer for sale of around 1.9 crore shares by existing shareholders, including Bain Capital. Bain Capital holds about a 55% stake in Dhoot Transmission, while the Dhoot family holds the remainder, the outlet said.