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Dhoot Transmission Ltd IPO

Tech-led NBFC delivering AI/ML driven retail credit across Tier-2 & Tier-3 India.

Listed
Price Band ₹871 per share per share
Lot Size 17 Shares
Min. Investment ₹14807
Issue Size ₹3066.89 Cr
Face Value ₹2
IPO Open 10 August 2026
IPO Close 12 August 2026
Allotment 13 Aug 2026
Listing 17 Aug 2026
Live demand

Subscription status for Dhoot Transmission Ltd IPO

As of 02 May 26, 5:00 PM. Will get Updated in every 30 minutes

QIB 3.42x

Qualified Institutional Buyers

NII 2.15x

Non-Institutional Investors

Retail 1.84x

Retail Individual Investors

Total 2.48x

Across all investor categories

Key dates

IPO schedule for Dhoot Transmission Ltd

From the day bidding opens to listing — every milestone you need to track.

IPO Open 10 Aug 2026
IPO Close 12 Aug 2026
Allotment 13 Aug 2026
Refund / Unblock 13 Aug 2026
Listing 17 Aug 2026
About the company

Who is Dhoot Transmission Ltd ?

Dhoot Transmission Limited was originally incorporated as 'Dhoot Transmission Private Limited' as a Private Limited company under the Companies Act, 1956, pursuant to a Certificate of incorporation dated April 28, 1998, issued by the Assistant Registrar of Companies, Mumbai. Further, upon conversion of Company into a Public Limited company, the name was changed to 'Dhoot Transmission Limited' dated December 4, 2025 issued by the RoC.

Company is one of the largest manufacturers of wiring harnesses for the 2W and 3W segments having the market share in the electrical automobile systems. Company design, engineer, manufacture and supply critical wiring harnesses that integrate electronic sensors and controllers, switches, terminals, connectors, junction boxes, high-voltage interconnection systems and data cables, delivering application-specific architectures across platforms.

Company established a new manufacturing unit in Chennai during FY16, and further setup a new unit in Manesar in 2018. It serve both automotive and non-automotive applications, supporting strict performance, safety and reliability requirements for OEMs. In line with the industry's shift in powertrain, it serve to architectures across customer segments and end markets. It manufacture wiring harnesses and electrical distribution systems for internal combustion engine (ICE) vehicles and electric vehicles (EV).

The Company launched a new product line including cable chargers, connectors, and plugs for electric vehicles, by entering the electric vehicle division in FY19-20. It commissioned a production line having 3 million units annual capacity in Nov'24 and supplied 2.23 million chargers as at Dec.31, 2025. The Company serve a diversified presence across the multiple end markets, extending beyond 2W and 3W into commercial vehicles, (CV), off-highway vehicles (OHW) and farming and industrial parts.

Company has filed a Draft Prospectus with the SEBI & is planning for IPO by issuing 16,310,733 Equity Shares of the Face value Rs 2 each through Offer for sale and by raising funds aggregating to Rs 1400 Cr through fresh issue.

Financial track record

Financials at a glance

Three-year trajectory of revenue, profit and assets — restated as per the RHP.

Revenue PAT Total Assets
FY 2025
FY 2024
FY 2023
Metric (₹ Cr)FY 2025FY 2024FY 2023
Total Income2,607.212,280.511,755.15
EBITDA317.10344.78216.46
PAT156.38189.80100.58
AUM1,596.081,170.03941.43

Strengths & Risks

A balanced look at what works in the company's favour and what investors should watch.

Strengths

  • Established leadership position in India and scaled operations in 2W and 3W wiring harnesses, supported by an extensive and critical product portfolio.
  • It's positioned to capitalize on key industry trends, leveraging our differentiated capabilities to deliver sustained growth and value.
  • Strong business foundation anchored by a marquee customer base and diversified business mix, enabling sustained growth.
  • Strong financial performance.
  • Professional & Experienced Management Team, robust R&D team and investor support.

Risks

  • The company derived a significant portion of its revenue from operations (Rs. 29,626.97 million, Rs. 23,049.09 million and Rs. 18,052.79 million, i.e. 65.47%, 66.91% and 64.53%, in Fiscal 2026, Fiscal 2025 and Fiscal 2024, respectively) from the two-wheeler ("2W") automotive sector in India, and Rs. 5,817.77 million, Rs. 4,305.00 million and Rs. 3,275.70 million, i.e. 12.86%, 12.50% and 11.71%, in Fiscal 2026, Fiscal 2025 and Fiscal 2024, respectively, from the three-wheeler ("3W") automotive sector in India, in each case primarily through the sale of wiring harnesses, which constituted 77.08%, 78.00% and 81.93% of its revenue from operations in Fiscals 2026, 2025 and 2024, respectively. Any adverse changes in these sectors in India, or in demand for, pricing of or technology relating to wiring harnesses, could adversely impact the company's business, results of operations, cash flows and financial condition.
  • The company is dependent on its top five and top ten customers. The company's top ten customers (based on contribution to revenue from operations in Fiscal 2026) contributed 80.93%, 81.81% and 77.90% of its revenue from operations in Fiscals 2026, 2025 and 2024, respectively. Any failures to maintain the company's relationship with these customers will have an adverse effect on its business, results of operations, cash flows and financial condition.
  • The company does not has firm, long-term volume commitments with OEM customers. Termination, modification or reductions in customer requirements could adversely affect its business, results of operations, financial condition and cash flows.
  • The company's business is capital intensive and its incur substantial capital expenditure and working capital requirements and may requires additional financing to meet those requirements, which could have an adverse effect on the company's business, results of operations, cash flows and financial condition.
  • The company derived 90.14%, 89.80% and 86.92% of its revenue from contract with customers in Fiscals 2026, 2025 and 2024, respectively, within India as a % of revenue from operations. Any adverse changes in economic or regulatory conditions that negatively affect the demand for the company's products in these markets could affect its results of operations.
  • Certain of the company's facilities including at Hosur, Tamil Nadu and Pithampur, Madhya Pradesh currently operate at high-capacity utilization levels and the company may not be able to meet additional demand for its products until the company is able to increase its capacity. Further, if the company's underestimate or overestimate the demand for its products, the capacity utilization of the company's manufacturing facilities may be under-utilized or over-utilized, respectively, which could adversely affect its profitability and manufacturing schedules.
  • The company regularly work with hazardous materials, and heavy machinery at its manufacturing facilities and activities in The company's operations can be dangerous, which could cause injuries to people or damage property.
  • Failures or disruption of the company's IT systems may adversely affect its business, financial condition, results of operations and prospects.
  • The company's Statutory Auditors and Previous Statutory Auditor have reported an emphasis of matter in the audit report for Fiscals ended March 31, 2024.
  • The company has in the past entered into a number of related party transactions and may continue to enter into related party transactions in the future, and there can be no assurance that its could not has achieved more favourable terms if such transactions has not been entered into with related parties.

Dhoot Transmission Ltd IPO — frequently asked questions

The Dhoot Transmission Ltd IPO opens on 10 August 2026 and closes on 12 August 2026. Bidding is accepted from 10:00 AM on the open date until 5:00 PM on the close date. The IPO is available to all eligible investors including retail individual investors, non-institutional investors, and qualified institutional buyers.
The price band for Dhoot Transmission Ltd IPO is Rs 871 to Rs 871 per share. The lot size is 17 shares per lot, requiring a minimum investment of Rs 14807 at the upper price band. Investors must apply for a minimum of one lot and can apply for up to 17 lots as per SEBI guidelines.
You can apply for the Dhoot Transmission Ltd IPO through the Chola Securities app or web platform using UPI or ASBA. Log in to your account, navigate to the IPO section, select Dhoot Transmission Ltd from the open IPOs list, enter your bid quantity and price within the price band, and submit your application. You need an active demat account, a linked bank account, and a valid PAN to apply. Bidding closes on 12 August 2026 at 5:00 PM.
Allotment for Dhoot Transmission Ltd IPO is scheduled on 13 Aug 2026. Refunds or unblocking of funds for unsuccessful applicants will be processed on 13 Aug 2026. The shares are expected to list on 17 Aug 2026. You can check your allotment status on the Chola Securities IPO page or through the registrar's website using your PAN.
Chola Securities' research team has reviewed the Dhoot Transmission Ltd IPO based on the company's financials, business model, valuation, and sector outlook. The recommendation is available on this page. Investors are advised to read the full IPO note along with the company's Red Herring Prospectus before making an investment decision.
Yes, you can revise or withdraw your Dhoot Transmission Ltd IPO bid before the subscription window closes on 12 August 2026 at 5:00 PM. Revisions can include changing the quantity or price within the allowed price band. To withdraw, cancel your application through the platform before the closing time. Once the subscription period ends, no further changes are permitted.
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