Dhoot Transmission IPO was subscribed 0.36 times, or 36 per cent, overall by 3.22 pm on the first day of bidding, with the issue receiving a mixed response across investor categories.The qualified institutional buyers’ portion was subscribed 0.01 times, while the non-institutional investors’ portion was subscribed 0.55 times. The retail portion was subscribed 0.47 times and the employee portion 0.85 times, according to NSE data.Brokerages have largely taken a positive view of the issue, with SBI Securities, Swastika Investment, Anand Rathi, Ventura Securities and Choice Broking recommending subscription.IPO detailsThe Bain Capital-backed auto components maker is looking to raise ₹3,067 crore through the IPO. The issue comprises a fresh issue of ₹1,400 crore and an offer-for-sale of approximately 1.91 crore shares worth ₹1,666.89 crore by promoters BC Asia Investments XV Ltd, an entity of private equity firm Bain Capital, and Mangalam Capital Private Ltd.The price band has been fixed at ₹829-871 per share, with a market lot size of 17 shares.The company had secured ₹918.3 crore from anchor investors, including BlackRock, Abu Dhabi Investment Authority and SBI Mutual Funds, before the IPO opened. It allotted over 1.05 crore equity shares to 72 anchor investors at ₹871 per share, according to a circular uploaded on the BSE website.Use of fundsOf the fresh issue proceeds, ₹766 crore will be used to retire existing debt, while ₹150 crore will fund two new manufacturing facilities. The remaining proceeds are earmarked for general corporate purposes and unspecified acquisitions.Post-IPO, the company expects to have a cash surplus of roughly ₹900-₹1,000 crore on a debt-free balance sheet.SBI Securities recommends the issue, saying Dhoot Transmission is one of the leading auto component manufacturers in the 2W and 3W segments, with around 95 per cent of its automotive product portfolio focused on EV or powertrain-neutral architectures.Swastika Investment has recommended subscribing for long-term growth potential and potential listing gains, while noting that the valuation is fairly priced and disciplined position sizing is advisable.Anand Rathi has assigned a subscribe for long term rating. It flagged high customer concentration and execution of expansion projects as key concerns, while highlighting the company’s market leadership, OEM relationships, expanding manufacturing capacity and increasing exposure to EV components.Master Capital Services said the company is well positioned to benefit from growing demand for automotive wiring harnesses and that investors may consider the IPO as a potential long-term investment opportunity.Published on August 10, 2026