Whalesbook
Bain Capital ki backing wali Dhoot Transmission Ltd. ne apna IPO draft papers Securities and Exchange Board of India (Sebi) mein file kar diya hai. Yeh IPO ₹1,400 crore tak raise karne ka target rakhta hai. Iss ₹1,400 crore mein fresh shares issue honge aur saath mein offer for sale (OFS) bhi hoga jismein 1.63 crore se zyada equity shares beche jayenge.
OFS mein BC Asia Investments XV Ltd., jo ki promoter shareholder hai, lagbhag 1.31 crore equity shares sell karegi. Aur Mangalam Capital Private Ltd. 31.18 lakh shares bechegi. Company ka plan hai ki iss IPO se aaye hue paison ka bada hissa outstanding loans ko chukane mein use kare.
Parent company ke liye ₹493.9 crore debt kam karne ke liye rakha gaya hai. Iske alawa, subsidiaries ke debts clear karne ke liye ₹272.58 crore diye jayenge. In subsidiaries mein Dhoot Auto Components Private Ltd, Dhoot Electricals Systems Private Ltd, Dhoot Automotive Systems Private Ltd, aur Dhoot Transmission UK Ltd. shamil hain.
Iske saath hi, Dhoot Transmission ₹150 crore Jhajjar, Haryana aur Shoolagiri, Tamil Nadu mein naye wiring harness manufacturing facilities banane mein invest karne wali hai. Baaki bache hue funds kuch unspecified acquisitions aur general corporate purposes ke liye reserve rakhe gaye hain, jinka use FY27 aur FY28 ke beech hone ka andaza hai.
1999 mein start hui Dhoot Transmission, automotive wiring harnesses aur electrical components design, engineering aur manufacturing mein specialized hai. Bain Capital affiliate, BC Asia Investments XV ne April 2025 mein company mein 49% stake acquire kiya tha. India ke two-wheeler aur three-wheeler wiring harness market mein company kaafi strong position rakhti hai, FY25 mein market share 44.64% tha. Electric vehicle segment mein bhi company kaafi aage hai, jahan FY25 mein electric two-wheeler aur three-wheeler wiring harnesses mein 70% se zyada market share capture kiya tha.
December 31, 2025 tak, company ke paas globally 22 manufacturing sites, 3 engineering centers, aur 7 warehouses the, aur India mein 4 aur plants lagane ki planning hai. Iske major clients mein Bajaj Auto Ltd, TVS Motor Company Ltd, Honda Motorcycle and Scooter India Private Ltd, aur Eicher Motors Ltd ka Royal Enfield business shamil hain.
Financials ki baat karein toh, FY25 mein revenue from operations 62% badhkar ₹3,444.86 crore ho gaya tha, jo FY23 mein ₹2,125.86 crore tha. Profit after tax bhi double se zyada ho gaya, jo FY23 ke ₹163.91 crore se badhkar ₹353.89 crore ho gaya. EBITDA bhi FY23 ke ₹298.68 crore se ₹590.96 crore ho gaya FY25 mein, jiske saath EBITDA margin bhi 14.05% se 17.15% ho gaya. Wiring harnesses ne FY25 revenue ka 78% contribute kiya. FY25 mein India se company ka 90% revenue aaya, jabki electric vehicle segment ka contribution FY23 ke 8.05% se badhkar 25.2% ho gaya. Dhoot Transmission ko India ke two aur three-wheeler markets mein electric vehicles ki badhti hui adoption se fayda hone ki ummeed hai.