Dhoot Transmission raises ₹918.3 cr from 72 anchors before IPO
Business
Dhoot Transmission, known for making wiring harnesses and electrical distribution systems for automotive and non-automotive applications, just raised ₹918.3 crore from 72 anchor investors before its IPO hits the market on August 10.
The company is looking to raise up to ₹3,067 crore in total, with shares priced between ₹829 and ₹871 each.
Dhoot Transmission secures institutional support
Big global names like BlackRock, ADIA, and Amundi joined Indian mutual funds such as SBI Mutual Fund and ICICI Prudential AMC in snapping up shares.
Even life insurers like SBI Life got involved.
Dhoot plans to use the funds for paying off debt, expanding its manufacturing, acquisitions, and other business needs.
Fun fact: before the listing, shares were already trading at a 29% premium in the gray market.