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Bain Capital-Backed Dhoot Transmission Files Updated IPO Papers with SEBI

Auto component maker Dhoot Transmission, backed by Bain Capital, filed an updated IPO draft with SEBI to raise about $169 million in fresh equity and up to $250 million overall, including an offer‑for‑sale by the private‑equity sponsor. The fresh issue of ₹1,400 crore will generate ₹493.9 crore ($60 million) for debt repayment and ₹272.6 crore ($33 million) to fund subsidiaries, while ₹150 crore ($18 million) is earmarked for new wiring‑harness plants in Haryana and Tamil Nadu. Dhoot, which commands roughly 44.6% of India’s two‑ and three‑wheel wiring‑harness market, reported FY25 revenue of $415 million and profit of $43 million, up 62% and more than double year‑on‑year respectively. The shares will list on both BSE and NSE under a syndicate led by Axis Capital, Jefferies India and others.

Source: The Hindu Business Line — Markets