Dhoot Transmission shares list 38% above issue price, delivering strong gains to investors.
IPO attracted 74.21 times subscription, with QIB bids crossing 212 times.
Retail investors gained ₹5,593 per lot at the NSE listing price.
Shares of Dhoot Transmission made a strong debut on the bourses on Monday, listing at a premium of nearly 38% over the IPO issue price of ₹871.
The auto ancillary and wiring harness company opened at ₹1,200 on the NSE, marking a 37.77% premium over its issue price. On the BSE, the stock debuted at ₹1,193.80, up 37.06% from the IPO price.
1 August 2026
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Based on the NSE listing price, retail investors who received one lot of 17 shares made a profit of ₹5,593 on their investment of ₹14,807.
Similarly, high-net-worth individual (HNI) investors who received 14 lots, or 238 shares, made a profit of ₹78,300 on their investment of ₹2,07,298.
The listing was significantly stronger than grey market indications. Dhoot Transmission shares had commanded a GMP of around ₹255-260 ahead of the IPO, implying a potential listing gain of 28-29%. The GMP had risen to around ₹275 over the weekend.
Dhoot Transmission IPO Gets 74x Subscription
The IPO was open for subscription from August 10 to August 12, with the company offering its shares in the price band of ₹829-871 per share and a lot size of 17 shares.
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The ₹3,067-crore IPO comprised a fresh issue of ₹1,400 crore and an offer for sale (OFS) of up to 1,91,37,602 equity shares worth ₹1,667 crore.
The issue received an overwhelming response, with overall subscription reaching 74.21 times. The IPO attracted nearly 53.07 lakh applications, while total bids were worth around ₹1.61 lakh crore.
The qualified institutional buyer (QIB) portion was subscribed 212.92 times, while the non-institutional investor (NII), retail and employee portions were subscribed 51.93 times, 8.12 times and 8.14 times, respectively.
Wiring Harness, EV Exposure Support Outlook
Established in April 1998, Pune-based Dhoot Transmission is an electrical and electronics company engaged in designing, engineering, manufacturing and supplying wiring harnesses and electrical distribution systems for automotive and non-automotive applications.
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The company has a diversified product portfolio and is also increasing its exposure to the electric vehicle segment.
Brokerage firms were largely positive on the IPO and recommended subscribing to the issue for the long term. Axis Capital, Jefferies India, Kotak Mahindra Capital, Nomura Financial Advisory (India), SBI Capital and 360 One WAM acted as the book-running lead managers, while KFin Technologies was the registrar.
Analyst View After Listing
Shivani Nyati, Head of Wealth at Swastika Investmart, said Dhoot Transmission delivered a strong listing, gaining nearly 38% over its issue price.
She highlighted the company's strong revenue growth, established position in wiring harnesses and increasing exposure to the EV segment as factors supporting its long-term growth outlook.
However, Nyati cautioned that elevated customer concentration and execution risks need to be monitored. She maintained a positive long-term view and recommended holding the stock with a stop-loss of ₹1,100.
