Dhoot Transmission IPO Day 3: Issue subscription over 17x so far; here’s how to check allotment

The initial public offering (IPO) of Dhoot Transmission continues to see good demand on the last day of subscription with a total booking of 17.41 times so far on Wednesday, August 12.

Until 2 PM, the initial share sale had received bids for 43,44,83,756 shares as compared to 2,49,56,363 shares on offer, as per exchange data.

The non-institutional investor (NII) category was subscribed 39.96 times, while the retail individual investor (RII) segment saw 6.29 times subscription. However, the Qualified Institutional Buyers (QIB) portion was booked 20.19 times.

The ₹3,066.89 crore IPO consists of a fresh issuance of shares aggregating up to ₹1,400 crore and an offer for sale (OFS) component of up to 1.91 crore shares worth ₹1,666.89 crore by promoters BC Asia Investments XV Limited and Mangalam Capital Private Limited.

The company intends to use fresh issue proceeds towards repayment of certain outstanding borrowings, investment in subsidiaries for debt clearance, and setting up new wiring harness manufacturing units in Jhajjar, Haryana, and Hosur, Tamil Nadu.

A part will also be utilised for inorganic acquisitions and other strategic initiatives.

Dhoot Transmission IPO key dates

Dhoot Transmission IPO: Lot size

The application size for a lot is 17 shares and in multiples thereof.

Prior to the IPO, the company raised ₹918.3 crore from anchor investors, including SBI Mutual Fund (MF), ICICI Prudential MF, HDFC MF, BlackRock, Abu Dhabi Investment Authority, WhiteOak, Axis MF, Mirae Asset, Amundi Funds, Allianz Global Investors, Government Pension Fund, SBI Life Insurance, ICICI Prudential Life Insurance, HDFC Life Insurance and Axis Max Life Insurance.

Steps to check Dhoot Transmission IPO allotment status on NSE

• Chose ‘Equity & SME IPO bid details’

• Select ‘Dhoot Transmission’ from the list of IPO names.

• Enter your application number and PAN details.

• Click ‘Submit’ to view the status of your IPO allotment.

Steps to check Dhoot Transmission IPO allotment status BSE

• Select ‘Dhoot Transmission’ as the issue type.

• From the dropdown menu, select ‘Dhoot Transmission’. Identify yourself using either PAN details or the IPO application number.

• Click on the ‘I’m not a robot’ tab and press the ‘Search’ button to see the allotment details.

Founded in 1999 by Rahul Dhoot, Aurangabad-headquartered Dhoot Transmission manufactures products like electronic sensors and controllers, wiring harnesses, automotive switches, cables, connectors, power cords and terminals.

Its offerings cater to two-wheelers, three-wheelers, commercial vehicles, earth movers, farm equipment, off-road vehicles, medical devices and domestic appliances.