Now Reading: Dhoot Transmission IPO subscribed 36% on day one
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Dhoot Transmission IPO subscribed 36% on day one
Dhoot Transmission's IPO was subscribed 0.61 times by 4:36 pm on day one, according to Livemint, though NSE data cited by The Hindu BusinessLine showed 0.36 times at 3:22 pm. Retail bids…
The Story in Brief
Dhoot Transmission's IPO was subscribed 0.61 times by 4:36 pm on day one, according to Livemint, though NSE data cited by The Hindu BusinessLine showed 0.36 times at 3:22 pm. Retail bids filled 0.72 times, NII 1.06 times, and QIB 0.06 times.
The ₹3,067 crore issue closes on August 12, with allotment on August 13 and listing on August 17. Priced at ₹829-₹871, the grey market premium is ₹259, about 30% above the upper band. Brokerages SBI Securities, Anand Rathi, BP Equities, and others recommend subscribing, though concerns over customer concentration remain.
The Indian Opinion
Cheerleaders call Dhoot Transmission a must-buy, but the day-one QIB subscription of 0.06 times tells you institutions are not sweating for this one. The ₹259 GMP is a retail fever, not a fundamental verdict. With 95% of its portfolio in EV-ready harnesses, the company looks forward-looking, yet debt repayment and expansion plans hinge on execution. Watch whether QIB bidding crosses 1x by day three, and compare the final listing price to the GMP, before believing the 'subscribe' tags.
Sources (2): thehindubusinessline.com, livemint.com
This story was synthesised by AI from the 2 sources linked above.
Updated: this story now draws on 2 sources.
