Dhoot Transmission shares jump 37.77% on NSE market debut
Business
Dhoot Transmission, known for making wiring harnesses and auto parts, had a blockbuster stock market debut on Monday, 17 August.
Shares opened at ₹1,200 on the National Stock Exchange, 37.77% higher than the IPO price of ₹871, and saw a similar jump on the Bombay Stock Exchange.
Not bad for day one!
Dhoot Transmission IPO subscribed 74.21 times
The IPO was a hot ticket, subscribed 74.21 times, with big players like BlackRock and ADIA investing early.
Dhoot plans to use the funds to pay off debt and set up new manufacturing plants in Haryana and Tamil Nadu.
After this strong start, the company is expected to have a post-issue market capitalisation of around ₹17,816 crore.