Pune-based Dhoot Transmission, a prominent electrical and electronics company, commenced its journey on Dalal Street with a robust performance, listing at a significant premium on Monday, August 18, 2026.
Shares List Above Expectations
The company's shares debuted on the National Stock Exchange (NSE) at Rs 1,200, marking a substantial 37.77% premium over its issue price of Rs 871. Similarly, on the Bombay Stock Exchange (BSE), the stock opened at Rs 1,193.80, reflecting a 37.06% premium. This strong opening surpassed earlier grey market premium (GMP) predictions, which had suggested a listing pop of 28-29%.
Retail investors who secured a single lot of 17 equity shares saw a profit of Rs 5,593 on their initial investment of Rs 14,807. High Net-worth Individual (HNI) investors, with 14 lots (238 shares), garnered a profit of Rs 78,300 on their Rs 2,07,298 investment.
IPO Details and Overwhelming Subscription
The initial public offering (IPO) of Dhoot Transmission was open for subscription from August 10 to August 12, with shares offered in a price band of Rs 829-871 per share. The company aimed to raise Rs 3,067 crore through the offering, which included a fresh issue of Rs 1,400 crore and an offer-for-sale (OFS) of up to 1,91,37,602 equity shares valued at Rs 1,667 crore.
The IPO received an overwhelming response from investors, being subscribed an impressive 74.21 times overall. The qualified institutional bidders (QIBs) portion was subscribed 212.92 times, while the non-institutional investor (NII) segment saw a subscription of 51.93 times. Retail investors subscribed 8.12 times, and the employee portion was subscribed 8.14 times, highlighting strong market confidence.
About Dhoot Transmission
Incorporated in April 1998, Dhoot Transmission specializes in the design, engineering, manufacturing, and supply of wiring harnesses and electrical distribution systems. The company caters to both automotive and non-automotive applications, boasting a diversified product portfolio.
Brokerage firms generally held a positive outlook on the IPO, recommending a subscription for long-term investment. The issue was managed by book-running lead managers including Axis Capital, Jefferies India, Kotak Mahindra Capital, Nomura Financial Advisory (India), SBI Capital, and 360 One WAM, with Kfin Technologies serving as the registrar.