Dhoot Transmission Rs 3067 Crore IPO From Aug 10
Dhoot Transmission public issue comprises a fresh issue of equity shares and an offer for sale of over 1.91 crore equity shares by certain existing shareholders.
Mumbai: Maharashtra based auto component manufacturing company Dhoot Transmission announced Rs 3,067 crore initial public offering opening on August 10 in the price band of Rs 829 to Rs 871 crore per equity share of Rs 2 face value each. Aurangabad based company is into manufacturing and supply of wiring harnesses and electrical distribution systems for automotive and non-automotive applications. Its product portfolio comprises wiring harnesses, battery packs, sensors and electronic controllers, automotive switches, terminals, connectors, and power supply cords, catering to both internal combustion engine (ICE) and electric vehicle (EV) platforms.
Dhoot Transmission public issue comprises a fresh issue of equity shares aggregating up to Rs 1400 crore and an offer for sale of over 1.91 crore equity shares by certain existing shareholders.
Net proceeds from the fresh issue will be utilised to repay debt worth Rs 465 crore, payback borrowings availed by certain subsidiaries worth Rs 301.77 crore as well as Rs 150 crore will be used for setting up of a new wiring harness manufacturing plant in Jhajjar, Haryana and and Shoolagiri, Hosur, Tamil Nadu.