Dhoot Transmission Share Price: The stock of Dhoot Transmission IPO got listed on the BSE and NSE at a listing premium of 38 per cent, after the IPO received a subscription response of over 70 times.
On the BSE, the stock of Dhoot Transmission was listed at a premium of 37.06 per cent, or Rs 322.8, at Rs 1193.80, while on the NSE, the stock was listed at Rs 1,200 (a premium of 37.77 per cent).
On the BSE, the stock’s market capitalisation stood at Rs 24,418.95 crore.
Dhoot Transmission IPO Subscription
At the end of Day 3, the IPO was subscribed around 74.21 times, with the issue receiving 1,85,19,71,585 bids against 2,49,56,363 shares on offer. The IPO subscription was mainly led by qualified institutional buyers, followed by non-institutional investors and retail investors. Here’s how the subscription breakdown looks:
- Qualified Institutional Buyers (QIBs): 212.92x
- Non-Institutional Investors (NIIs): 51.93x
- Retail Individual Investors (RIIs): 8.12x
- Employees: 8.14x
Dhoot Transmission IPO GMP
Ahead of the IPO’s listing, interest in the issue in the unlisted market remained very high, with the premium standing at Rs 258, reflecting a listing premium of around 30 per cent. This further translates to an estimated profit of Rs 4,386 on a lot of 17 shares.
Dhoot Transmission IPO Allotment
The IPO entered the listing phase after the issue concluded its allotment process. The allotment status for the IPO could be checked on the official websites of NSE, BSE and KFin Technologies.
Also Read: Dhoot Transmission IPO allotment : Step-by-step guide to check your status on NSE, BSE, KFin Portal
Dhoot Transmission IPO Price Band and Lot Size
Dhoot Transmission had set the issue price band at Rs 829 to Rs 871 per share. The lot size for an application was 17 shares. The minimum amount of investment required by a retail investor was Rs 14,807 for one lot of 17 shares, based on the upper end of the price band.
Dhoot Transmission IPO: Usage of Issue Proceeds
As per the company’s RHP, the funds raised through the initial public offering will be used for the following purposes:
- Repayment/prepayment, in full or in part, of all or certain outstanding borrowings availed by the company.
- Investment in certain 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 in part, of all or certain outstanding borrowings availed by these subsidiaries.
- Setting up new wiring harness manufacturing plants of the company at (i) Sector 11, Jhajjar, Haryana, India, and (ii) Shoolagiri, Hosur, Tamil Nadu, India.
- Funding inorganic growth through unidentified acquisitions and general corporate purposes.
(Disclaimer: The above article is meant for informational purposes only and should not be considered as any investment advice. ET NOW DIGITAL suggests its readers/audience to consult their financial advisors before making any money-related decisions.)
