Dhoot Transmission IPO: ₹3,067 Crore Issue Opens Today — Price Band, GMP, Financials, Review and Key Details

The Dhoot Transmission IPO opens for subscription today, August 10, 2026, giving investors an opportunity to participate in one of the major automotive component IPOs of the year. The mainboard IPO will remain open until August 12, 2026.

Dhoot Transmission is an automotive electrical and electronics components manufacturer with a strong presence in wiring harnesses and a growing portfolio of products for electric vehicles (EVs). The company is backed by Bain Capital and is positioning itself to benefit from increasing vehicle electrification and premiumisation.

The IPO has a total issue size of approximately ₹3,066.89 crore, comprising a fresh issue of ₹1,400 crore and an offer for sale of up to 1,91,37,602 equity shares. The shares are proposed to be listed on both the BSE and NSE.

Dhoot Transmission IPO – Key Details

The minimum application is 17 shares at the upper price band of ₹871, requiring an investment of ₹14,807. Retail investors can apply for up to 13 lots, or 221 shares, requiring ₹1,92,491 at the upper band.

What Does Dhoot Transmission Do?

Dhoot Transmission Limited was incorporated in 1998 and operates in the electrical and electronics components segment. The company designs, manufactures and supplies wiring harnesses and electrical distribution systems for automotive and non-automotive applications.

Its product portfolio includes:

• Wiring harnesses
• Battery packs
• Sensors
• Electronic controllers
• Automotive switches
• Terminals and connectors
• Power supply cords

The company serves both conventional internal combustion engine vehicles and electric vehicles.

One of Dhoot Transmission’s biggest strengths is its position in the two-wheeler and three-wheeler wiring harness market. According to the IPO Watch page, the company holds around 41% market share in India’s 2W and 3W wiring harness market and approximately 70% market share in the electric 2W and 3W segment in FY2026.

Strong EV Opportunity

The transition from petrol and diesel vehicles toward electric vehicles is an important growth opportunity for Dhoot Transmission.

The company is expanding beyond traditional wiring harnesses into EV-related products, including battery assemblies, DC-DC converters, onboard chargers and charging-related components.

Recent industry commentary also highlights EV adoption and vehicle premiumisation as important growth drivers for the company. Dhoot Transmission has been investing in capacity and product diversification to capture these opportunities.

This gives the company exposure to two major automotive trends: increasing vehicle electrification and rising electronic content per vehicle.

Dhoot Transmission IPO Financial Performance

Dhoot Transmission has reported strong revenue growth over the past three financial years.

Revenue increased from ₹2,799.32 crore in FY2024 to ₹4,563.70 crore in FY2026. Profit after tax also increased from ₹298.75 crore to ₹396.84 crore over the same period.

The company’s FY2026 EBITDA margin stood at 15.71%, while PAT margin was 8.70%. ROE was reported at 16.30% and ROCE at 19.14%.

The financial trend is therefore one of the key positives investors may look at while evaluating the IPO.

How Will Dhoot Transmission Use IPO Money?

The ₹1,400 crore fresh issue is intended to support the company’s financial and expansion requirements.

According to the IPO details, approximately:

• ₹464.80 crore will be used for repayment or prepayment of certain outstanding borrowings.
• ₹150 crore is proposed for setting up new wiring harness manufacturing plants at Jhajjar, Haryana, and Shoolagiri, Hosur, Tamil Nadu.
• The remaining proceeds are intended for broader corporate and growth-related purposes, including potential inorganic opportunities.

The planned manufacturing expansion is important because it can increase the company’s production capacity and help it serve future automotive demand.

Strong Market Position

Dhoot Transmission has built a significant position in the automotive wiring harness industry.

Its approximately 41% share of India’s 2W and 3W wiring harness market and around 70% share in the electric 2W and 3W wiring harness segment provide the company with a strong competitive position.

The company also supplies components to major automotive manufacturers. Recent reports have highlighted customers including Bajaj Auto, TVS Motor Company, Honda Motorcycle & Scooter India and Royal Enfield.

However, investors should also consider customer concentration, as large automotive customers can have a significant impact on revenue and business performance.

Dhoot Transmission IPO Valuation

At the upper price band of ₹871, the IPO values the company at a substantial market valuation.

For FY2026, Dhoot Transmission reported:

• EPS: ₹24.40
• NAV: ₹149.74
• ROE: 16.30%
• ROCE: 19.14%
• EBITDA Margin: 15.71%
• PAT Margin: 8.70%
• RoNW: 16.55%

The IPO Watch page compares Dhoot Transmission with listed automotive component companies including Minda Corporation, Uno Minda, Motherson Sumi Wiring India and Sona BLW Precision Forgings.

Investors should therefore evaluate the IPO not only on historical growth but also on the price being paid for future earnings.

Dhoot Transmission IPO GMP

The grey market premium (GMP) can change rapidly and should not be treated as a guarantee of the listing price.

IPO Watch’s page currently displays a GMP figure for Dhoot Transmission, while recent media reports have also highlighted strong grey-market interest ahead of the issue.

Investors should remember that GMP is unofficial and is not a substitute for analysing the company’s financial performance, valuation, risks and long-term prospects.

Dhoot Transmission IPO: Positive Factors

There are several factors that make the IPO interesting for long-term investors:

Strong revenue growth: Revenue increased from ₹2,799 crore in FY2024 to ₹4,564 crore in FY2026.

Growing profitability: PAT increased from ₹298.75 crore to ₹396.84 crore over the same period.

Strong market position: Dhoot Transmission has a substantial share of the 2W and 3W wiring harness market.

EV exposure: The company has a particularly strong position in electric 2W and 3W wiring harnesses.

Capacity expansion: The IPO proceeds will support new manufacturing facilities and capacity expansion.

Product diversification: The company is expanding beyond wiring harnesses into batteries, sensors, controllers and other electrical/electronic components.

Risks Investors Should Consider

Despite the growth opportunity, the IPO is not without risks.

The automotive component business is closely linked to vehicle production volumes. A slowdown in two-wheelers, three-wheelers or other vehicle segments could affect demand.

Customer concentration is another factor investors should monitor because dependence on major automobile manufacturers can create bargaining and business risks.

The company is also investing heavily in capacity expansion. Investors should watch how efficiently the new capacity is utilised and whether these investments generate the expected returns.

Finally, IPO valuation is important. Strong historical growth does not automatically mean that a stock is attractively priced at any valuation.

Dhoot Transmission IPO Review

Dhoot Transmission presents an interesting combination of strong historical growth, a leading position in wiring harnesses, significant EV exposure and planned capacity expansion.

The company’s revenue increased substantially between FY2024 and FY2026, while profitability also improved. Its strong position in electric two-wheeler and three-wheeler wiring harnesses gives it exposure to the ongoing electrification of India’s automobile industry.

At the same time, investors should carefully assess the IPO valuation, customer concentration, execution of new manufacturing facilities and the sustainability of margins.

IPO Watch’s current review is “May Apply” for long-term investors.

For investors with a long-term perspective and an understanding of the automotive components sector, Dhoot Transmission could be an IPO worth tracking. Short-term investors, however, should not base their decision solely on GMP or expected listing gains.

Dhoot Transmission IPO Important Dates

The IPO opens on August 10, 2026, and closes on August 12, 2026.

The basis of allotment is expected on August 13, refunds and demat credit are scheduled for August 14, and the shares are expected to list on August 17, 2026, on both BSE and NSE.

Final Takeaway

The Dhoot Transmission IPO offers investors exposure to India’s growing automotive electrical and electronics component industry, particularly the rapidly expanding EV ecosystem.

With revenue crossing ₹4,500 crore in FY2026, a strong market position in two- and three-wheeler wiring harnesses, significant EV exposure and fresh investments in manufacturing capacity, the company has several attractive growth drivers.

However, investors should balance these positives against valuation, customer concentration, execution risks and the cyclical nature of the automotive industry.

Disclaimer: This article is for educational and informational purposes only and should not be considered investment advice. Investors should read the IPO prospectus and evaluate their own risk profile before making an investment decision.