Dhoot Transmission Secures Rs 918 Crore From Anchor Investors Ahead of IPO

Auto components maker Dhoot Transmission Ltd has raised Rs 918.27 crore from anchor investors ahead of its initial public offering (IPO), the company said on Friday.

The company allotted 10.54 million equity shares to 72 anchor investors at Rs 871 per share, the upper end of the IPO price band.

Of the total anchor allocation, 6.46 million equity shares, or 61.27%, were allotted to eight domestic mutual funds through 46 schemes. Another 921,895 equity shares, representing 8.74% of the allocation, were allotted to life insurance companies and pension funds.

The anchor round was priced at Rs 871 per equity share with a face value of Rs 2 each, including a share premium of Rs 869 per share.

Anchor investors typically commit capital before an IPO opens to the public, providing an early indication of institutional interest in the offering.

Dhoot Transmission's IPO, valued at Rs 3,067 crore, is scheduled to open for subscription on Monday and conclude on Wednesday. The issue has been priced in the range of Rs 829 to Rs 871 per share.

The issue comprises a fresh issue of equity shares aggregating up to Rs 1,400 crore and an offer for sale of up to 1,91,37,602 equity shares by existing shareholders.

The anchor book drew participation from a mix of domestic and overseas institutional investors, including SBI Mutual Fund, ICICI Prudential Mutual Fund, HDFC Mutual Fund, BlackRock, WhiteOak, Abu Dhabi Investment Authority, Axis Mutual Fund, Mirae, Nippon India Mutual Fund, Government Pension Fund, Pictet, Amundi Funds, Allianz Global Investors, Franklin Templeton Mutual Fund, Tata Mutual Fund, Invesco Mutual Fund, Canara Robeco Mutual Fund, UTI Mutual Fund, PGIM India Mutual Fund, HSBC Mutual Fund, Sundaram Mutual Fund, SBI Life Insurance, HDFC Life Insurance, ICICI Prudential Life Insurance, Axis Max Life Insurance, Motilal Oswal Mutual Fund, Bandhan Mutual Fund, Edelweiss Mutual Fund and 3P India Equity Fund.