Dhoot Transmission gets Sebi nod for IPO, looks to raise Rs 2,258 crore

Chhatrapati Sambhajinagar

Maharashtra-based auto components maker Dhoot Transmission has received Sebi's approval for its initial public offering, looking to raise around Rs 2,258 crore (approximately $250 million).

The company, backed by private equity firm Bain Capital which holds a 49% stake, had filed draft papers through the confidential pre-filing route in February 2026. The IPO will include a fresh issue of shares and an offer for sale by existing investors; the promoter group is not exiting. Founded by Rahul Dhoot over two decades ago, the company manufactures wiring harnesses, automotive switches, sensors, connectors, cables, and battery packs. It supplies to major OEMs including Bajaj Auto, TVS Motor, Honda Motorcycle & Scooter India, and Royal Enfield, and serves customers across eight countries. Dhoot Transmission has expanded globally through a series of acquisitions TFC Cables in Scotland (2017), Parkinson Harness in the UK (2018), and San Electromec (2019) and runs a UK-based engineering office set up in 2012. The company employs over 12,000 people and reported consolidated revenue of Rs 2,653 crore in FY24, up from Rs 1,550 crore in FY22. International operations account for 15-20% of total revenue. Net worth stood at Rs 598 crore as of March 2024, with an interest coverage ratio of 9.3 times.