Dhoot Transmission IPO: Auto components maker Dhoot Transmission Limited has completed its anchor investor round on Friday August 7. The company raised Rs 918.27 crore from anchor investors ahead of its initial public offering.
Dhoot Transmission allocated a total of 1,05,42,657 equity shares to 72 anchor investors at the upper price band of Rs 871 per equity share with face value of Rs 2 per share, including share premium of Rs 869 per equity share, the company informed in an exchange filing.
Of the total allocation of 10,542,657 equity shares to the anchor investors, 64,59,984 equity shares, which is around 61.27% of the total allocation have been issued to eight domestic mutual funds through 46 schemes. Around 9.21,895 equity shares are allocated to Life insurance companies and pension funds.
Some of the major investors in the anchor issue include SBI Mutual Fund, ICICI Prudential Mutual Fund, HDFC Mutual Fund, BlackRock, WhiteOak, Abu Dhabi Investment Authority, Axis Mutual Fund, Mirae, Nippon India Mutual Fund, Government Pension Fund, Pictet, Amundi Funds, Allianz Global Investors, Franklin Templeton Mutual Fund, Tata Mutual Fund, Invesco Mutual Fund, Canara Robeco Mutual Fund, UTI Mutual Fund, PGIM India Mutual Fund, HSBC Mutual Fund, Sundaram Mutual Fund, SBI Life Insurance, HDFC Life Insurance, ICICI Prudential Life Insurance, Axis Max Life Insurance, Motilal Oswal Mutual Fund, Bandhan Mutual Fund, Edelweiss Mutual Fund, 3P India Equity Fund.
Dhoot Transmission IPO Details
Dhoot Transmission IPO includes fresh issues of shares worth Rs 1,400 crore and offer for sale of up to 1.63 crore shares. BC Asia Investments XV Ltd. is the promoter offloading stake and Mangalam Capital Pvt. Ltd. is the promoter group selling in the OFS.
The equity shares are proposed to be listed on the National Stock Exchange of India Ltd and BSE Ltd.
Kotak Mahindra Capital Company Ltd., Nomura Financial Advisory and Securities (India) Pvt., Axis Capital Ltd., Jefferies India Pvt., SBI Capital Markets Ltd. and 360 One WAM Ltd. are the book-running lead manager for the issue and Kfin Technologies will be the registrar of the issue.
Dhoot Transmission intends to utilise Rs 494 crore of the net proceeds primarily for repayment or prepayment of all or certain outstanding borrowings and Rs 272.59 crore will be used for investment in subsidiaries for payment of certain outstanding borrowings. In addition, Rs 150 crore will be used for setting up a new wiring harness manufacturing plant in Haryana and Tamil Nadu. The remaining amount will be used for funding inorganic growth through acquisitions and general corporate purpose.
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