IPO-bound Dhoot Transmission expects India’s shift to electric vehicles ​to drive growth as the auto components maker expands ‌its product portfolio and ties with automakers, ​a top executive said.Chhatrapati Sambhajinagar-based Dhoot ⁠Transmission makes wiring harnesses for automotive and industrial applications. Bajaj Auto, India’s biggest two-wheeler exporter, accounted for about ‌a third of its annual revenue of ₹4,530 crore in fiscal year 2026.“Electrification ‌will be the biggest growth driver ‌for ⁠us, with premiumisation following close behind,” Nitin ⁠Kalani, chief financial officer at Dhoot Transmission, said in an interview ahead of the company’s $322.21 million initial public offering.The ​Bain Capital-backed firm’s ‌IPO, which includes the sale of fresh shares worth ₹1,400 crore, opens on Aug. 10 and closes on Aug. 12, with trading likely ‌to begin on Aug. 17.India’s EV ​transition is being led by two- and three-wheelers, as lower vehicle prices ⁠and shorter urban journeys make electrification more viable in those segments.Dhoot Transmission expects to benefit from ‌the greater wiring-harness content in EVs compared with internal combustion engine vehicles.Beyond harnesses, the company is building an EV-focused product portfolio that includes battery assemblies, onboard chargers, DC-DC converters and charging guns.The shift is also reflected in ‌Dhoot’s non-harness portfolio, which rose to 23% of revenue currently ​from about 18% in fiscal 2024.Dhoot has spent about ₹1,000 crore ⁠on capital expenditure over the past four to five ⁠years and expects similar investment to support growth and capacity expansion.Despite the investment, ‌Kalani said annual margins should remain sustainable at 15%-16%, broadly in line with current levels.($1 = ​95.1850 Indian rupees)Published on August 6, 2026