Dhoot Transmission shares debut at 38% premium over IPO price
What's the story
Dhoot Transmission made a strong debut on the stock market today. The company's shares opened at ₹1,200 per share on the National Stock Exchange (NSE), a 37.77% higher than its IPO price of ₹871. On the Bombay Stock Exchange (BSE), the stock debuted at ₹1,193.80 per share, a premium of 37.06% over its issue price.
Investor response
Dhoot Transmission IPO was heavily subscribed
The IPO of Dhoot Transmission, a manufacturer of auto components, was heavily subscribed by investors.
The issue was oversubscribed 74.21 times on the final day of bidding last Wednesday.
The ₹3,067 crore IPO received bids for over 1.85 billion shares against an offer of 24.96 million shares, according to data from NSE.
Subscription details
QIBs portion was subscribed 212.92 times
The Qualified Institutional Buyers (QIBs) portion was subscribed 212.92 times while the Non-Institutional Investors (NIIs) portion was subscribed 51.93 times. The retail investors' quota was subscribed 8.12 times.
Ahead of the issue, Dhoot Transmission raised ₹918.3 crore from anchor investors including BlackRock, Abu Dhabi Investment Authority, and SBI Mutual Funds.
The IPO price band for Dhoot Transmission was fixed at ₹829-871 per share.