Dhoot Transmission IPO subscribed 36% so far on day 1, brokerages largely bullish
Brokerages have largely taken a positive view of the issue, with SBI Securities, Swastika Investment, Anand Rathi, Ventura Securities and Choice Broking recommending subscription
Dhoot Transmission's IPO saw a 36% subscription on its debut day, with brokerages expressing largely bullish sentiments. Qualified institutional buyers purchased 1% of the shares, while non-institutional investors subscribed for 55% of the portion. Retail investors made up 47% of the portion and employees 85%. Major brokerages like SBI Securities, Swastika Investment, Anand Rathi, Ventura Securities and Choice Broking recommended subscribing to the issue.
Dhoot Transmission aims to raise ₹3,067 crore through the IPO, with ₹1,400 crore from a fresh issue and ₹1,666.89 crore from promoters. The price band is set at ₹829-871 per share, and the market lot size is 17 shares. The company has already received ₹918.3 crore from anchor investors, which will be used to retire debt and fund new manufacturing facilities.
Post-IPO, Dhoot Transmission anticipates a cash surplus of ₹900-₹1,000 crore on a debt-free balance sheet.
Written by urgent.news from Hindu BusinessLine's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
This story
This is one outlet's version. Read the fullest account.
- What brokerages say on Dhoot Transmissions IPO that opens today at ₹829-871 thehindubusinessline.com
