Dhoot Transmission Limited is one of India’s leading electrical and electronics (E&E) companies engaged in the design, engineering, manufacturing, and supply of wiring harnesses and electrical distribution systems for the automotive industry.
The company develops application-specific electrical architectures by integrating wiring harnesses with electronic sensors, controllers, switches, terminals, connectors, junction boxes, high-voltage interconnection systems, and data cables for a wide range of vehicle platforms.
The company’s diversified product portfolio includes wiring harnesses, battery packs, EV battery pack interconnect systems, sensors, electronic controllers, automotive switches, terminals, connectors, flat cables, flexible cables, and power supply cords. These products cater to both internal combustion engine (ICE) and electric vehicle (EV) platforms across two-wheelers (2W), three-wheelers (3W), commercial vehicles (CVs), off-highway vehicles (OHWs), as well as selected industrial and non-automotive applications.
Dhoot Transmission is the second-largest player in India’s 2W and 3W wiring harness market, holding an estimated 41% market share in Fiscal 2026. The company is also the market leader in the electric 2W and 3W wiring harness segment, with an estimated 70% market share during the same period, positioning it strongly to benefit from the rapid electrification of the automotive industry.
The company serves a diversified customer base comprising leading automotive OEMs, including Bajaj Auto, TVS Motor Company, Honda Motorcycle & Scooter India, and Royal Enfield, among others. During Fiscal 2026, Dhoot Transmission served 495 customers, supported by long-standing customer relationships and strong engineering capabilities.
Dhoot Transmission operates an extensive manufacturing network across key automotive hubs in India along with an international presence through subsidiaries in the United Kingdom, Germany, South Korea, Vietnam, and Thailand, enabling it to serve both domestic and global customers.
As of March 31, 2026, the company employed 2,735 full-time employees, including 1,129 engineers, of whom 237 were dedicated to research & development and engineering, supporting continuous product innovation and new technology development.
Dhoot Transmission IPO – Details
| IPO Opening Date | 10 August 2026 |
| IPO Closing Date | 12 August 2026 |
| Issue Type | Book Built Issue IPO |
| Issue Size | Total Issue Size: 3,52,18,047 Shares Worth ₹3,066.89 Crore Fresh Issue: 1,60,80,445 Shares Worth ₹1,400.00 Crore Offer For Sale: 1,91,37,602 Shares Worth ₹1,666.89 Crore |
| Face Value | ₹2 per equity share |
| IPO Price | ₹829 – ₹871 per share |
| Market Lot | 17 Shares |
| Min Order | 17 Shares [1 Lot] |
| Employee Discount | ₹80 |
| Listing At | BSE, NSE |
| Register | Kfin Technologies Ltd. |
| QIB Shares Offered | 50% |
| NII (HNI) Shares Offered | 15% |
| Retail Shares Offered | 35% |
Dhoot Transmission IPO – Date Schedule
| IPO Open Date | 10 August 2026 |
| IPO Close Date | 12 August 2026 |
| Basis of Allotment | 13 August 2026 |
| Initiation of Refund | 14 August 2026 |
| Credit of Shares to Demat Account | 14 August 2026 |
| IPO Listing Date | 17 August 2026 |
| Cut-off time for UPI mandate confirmation | 5 PM on August 12, 2026 |
Dhoot Transmission IPO – Lots Size & Price
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 17 | ₹14,807 |
| Retail (Max) | 13 | 221 | ₹1,92,491 |
| S-HNI (Min) | 14 | 238 | ₹2,07,298 |
| S-HNI (Max) | 67 | 1139 | ₹9,92,069 |
| B-HNI (Min) | 68 | 1156 | ₹10,06,876 |
Competitive Strength
- Established leadership in India’s 2W and 3W wiring harness market with a comprehensive product portfolio.
- Well-positioned to capitalize on EV adoption, premiumization, automation, and connected vehicle trends.
- Strong business foundation backed by marquee OEM customers and a diversified business mix.
- Consistent financial performance supported by scalable manufacturing operations.
- Experienced management team, strong R&D capabilities, and reputed investor support.
Company Promoters
- BC Asia Investments XV Ltd.
- Rahul Radhavallabh Dhoot.
Company Financials
| Particulars | Total Revenue | Total Expense | Profit After Tax | Total Borrowing |
|---|---|---|---|---|
| 31 March 2024 | ₹2,799.32 Cr | ₹2,411.18 Cr | ₹298.75 Cr | ₹554.90 Cr |
| 31 March 2025 | ₹3,472.24 Cr | ₹3,014.64 Cr | ₹353.89 Cr | ₹776.06 Cr |
| 31 March 2026 | ₹4,563.70 Cr | ₹4,027.75 Cr | ₹396.84 Cr | ₹841.39 Cr |
Key Performance Indicator
| KPI | Values (Mar 31, 2026) |
|---|---|
| ROE | 16.30% |
| ROCE | 19.14% |
| Debt/Equity | 0.35 |
| RoNW | 16.55% |
| PAT Margin | 8.70% |
| EBITDA Margin | 15.71% |
| NAV | 149.74 |
| Price to Book Value | 5.82 |
| Pre IPO | Post IPO | |
| EPS (₹) | 21.06 | 19.40 |
| P/E (x) | 41.36 | 44.90 |
Object Of The Issue
| Objects of the Issue | Expected Amount (₹ in crores) |
|---|---|
| Repayment/prepayment, in full or in part, of all or certain outstanding borrowings availed by the Company. | ₹464.80 |
| Investment in certain of the Subsidiaries, namely, Dhoot Autocomponents Private Limited, Dhoot Electricals Systems Private Limited, Dhoot Automotive Systems Private Limited and Dhoot Transmission UK Limited, for repayment/prepayment, in full or part, of all or certain of the outstanding borrowings availed by these Subsidiaries. | ₹301.77 |
| Setting up of a new wiring harness manufacturing plant of the Company at (i) Sector 11, Jhajjar, Haryana, India; and (ii) Shoolagiri, Hosur, Tamil Nadu, India. | ₹150.00 |
| Funding inorganic growth through unidentified acquisitions and general corporate purposes. |
Dhoot Transmission IPO Peer Comparison
| S. No. | Face Value (₹) | Company Name | P/E Ratio |
|---|---|---|---|
| 1 | 2 | Minda Corporation Limited | 46.49 |
| 2 | 2 | Uno Minda Limited | 56.87 |
| 3 | 1 | Motherson Sumi Wiring India Limited | 43.24 |
| 4 | 10 | Sona BLW Precision Forgings Limited | 74.64 |
✅Strengths
- Leading player in India’s 2W & 3W wiring harness market.
- Market leader in EV 2W & 3W wiring harnesses.
- Strong relationships with leading automotive OEMs.
- Diversified product portfolio across ICE and EV platforms.
- Global manufacturing footprint with 22 facilities.
⚠️Risks
- High dependence on top customers for revenue.
- Reliance on a limited supplier base.
- Intense competition in the automotive components industry.
- Capacity expansion delays may impact growth.
- Capital-intensive business requiring continuous investment.
Dhoot Transmission IPO Promoter Holding
| Pre-Issue Share Holding | 100.00% |
| Post Issue Share Holding | 82.77% |
Dhoot Transmission IPO Prospectus
Company Contact Information
| Dhoot Transmission Limited Gut No 312, Nanekarwadi, Chakan Tq Khed, Dist Pune, NA, Chakan, Pune, Maharashtra, 410501 Phone: +91-24 3166 2600 Email: cs@dhoottransmission.com Website: https://www.dhoottransmission.com/ |
Dhoot Transmission IPO Registrar
| Kfin Technologies Ltd. Phone: 040-79615565 Email: dhoot.ipo@kfintech.com Website: https://ipostatus.kfintech.com/ |
Dhoot Transmission IPO Lead Manager(s)
| 1. Axis Capital Limited 2. 360 ONE WAM Limited 3. SBI Capital Markets Limited 4. Jefferies India Private Limited 5. Kotak Mahindra Capital Company Limited 6. Nomura Financial Advisory and Securities (India) Private Limited |
Dhoot Transmission IPO FAQs
| What is the Dhoot Transmission IPO? Dhoot Transmission IPO is a main-board IPO. The issue is priced at ₹829 to ₹871 per equity share. The IPO is to be listed on the BSE & NSE. |
| When will the Dhoot Transmission IPO open? The IPO is to open on 10 August 2026 for QIB, NII, and Retail Investors. |
| What is Dhoot Transmission IPO investors’ portion? The investors’ portion is QIB – 50%, NII – 15%, and Retail – 35%. |
| What is the Dhoot Transmission IPO Size? Dhoot Transmission IPO size is ₹3,066.89 Crore. |
| What are the Dhoot Transmission IPO Minimum and maximum lot sizes for Retail? The minimum bid is 17 Shares with ₹14,807, while the maximum bid is 221 Shares with ₹1,92,491. |
| What is the Dhoot Transmission IPO Allotment Date? Dhoot Transmission IPO allotment date is 13 August 2026. |
| What is the Dhoot Transmission IPO Listing Date? Dhoot Transmission IPO listing date is 17 August 2026. The IPO is to be listed on the BSE and the NSE. |
