Now Reading: Dhoot Transmission IPO opens Aug 10, raises Rs 3,067 crore
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Dhoot Transmission IPO opens Aug 10, raises Rs 3,067 crore
The Rs 3,067-crore initial public offering of Dhoot Transmission opens for subscription on August 10. The mainboard IPO includes a fresh issue of Rs 1,400 crore and an offer for sale of…
The Story in Brief
The Rs 3,067-crore initial public offering of Dhoot Transmission opens for subscription on August 10. The mainboard IPO includes a fresh issue of Rs 1,400 crore and an offer for sale of Rs 1,667 crore from existing shareholders. Ahead of the IPO, the company has raised Rs 918 crore from 72 anchor investors at the upper price band of Rs 871 per share. The face value is Rs 2 per share, with a share premium of Rs 869. The IPO will close on August 12.
The Indian Opinion
The usual frenzy around mainboard IPOs often masks the real test: listing-day performance versus long-term value. Dhoot Transmission's anchor book was fully subscribed, but that only tells part of the story. With a fresh issue of Rs 1,400 crore and an OFS of Rs 1,667 crore, existing promoters are cashing out. Watch the price band of Rs 871, if the stock lists below that, retail investors who chased the hype will be the ones holding the bag.
Sources (2): ndtvprofit.com, ndtvprofit.com (2)
This story was synthesised by AI from the 2 sources linked above.
Updated: this story now draws on 2 sources.
