2 weeks ago
Dhoot Transmission debuts with over 36 percent premium
A company called Dhoot Transmission makes car parts like wires, switches, and sensors.
It decided to sell shares to the public for the first time, which is called an initial public offering, or IPO.
Many people wanted to buy the shares, so the IPO was very popular.
When the shares started trading on the stock market, their price jumped by more than 36 percent.
This means people who bought the shares at the original price made money right away.
The company raised about Rs 3,067 crore from the share sale.
It plans to use the money to pay off debts and build new factories.
The new factories will be built in Jhajjar and Hosur.
The company was founded in 1999 and is based in Aurangabad, Maharashtra.
Dhoot Transmission Ltd shares debuted with a premium of over 36% against the issue price of Rs 871.
The stock listed at Rs 1,193.80 on the BSE and Rs 1,200 on the NSE, ending the day at Rs 1,187.50 and Rs 1,187.05 respectively.
The company's market valuation stood at Rs 24,290.08 crore after the listing.
The Rs 3,067-crore IPO was subscribed 74.21 times, with a price band of Rs 829-871 per share.
Proceeds will fund debt repayment, new wiring harness plants in Jhajjar (Haryana) and Hosur (Tamil Nadu), and inorganic acquisitions.
The IPO included a fresh issue of up to Rs 1,400 crore and an offer-for-sale of up to 1.91 crore shares by promoters BC Asia Investments XV Ltd and Mangalam Capital Private Ltd.
- Who
- Dhoot Transmission Ltd, an auto components maker founded in 1999 and headquartered in Aurangabad, Maharashtra
- What
- The company's shares debuted on stock exchanges with a premium of over 36% following its heavily subscribed IPO
- Where
- BSE and NSE in India; new manufacturing plants are planned in Jhajjar, Haryana, and Hosur, Tamil Nadu
- When
- Monday, the day of the stock's market debut
- Why
- The IPO was subscribed 74.21 times, and the company plans to use the proceeds for debt repayment, new manufacturing plants, and strategic initiatives
Key facts
- Issue price
- Rs 871 per share
- BSE debut
- Rs 1,193.80 (up 37%)
- NSE debut
- Rs 1,200 (up 37.77%)
- Closing price (BSE)
- Rs 1,187.50 (up 36.33%)
- IPO size
- Rs 3,067 crore
- IPO subscription
- 74.21 times
- Market valuation
- Rs 24,290.08 crore
- New plants planned
- Jhajjar (Haryana) and Hosur (Tamil Nadu)
Sources
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