Auto component manufacturer Dhoot Transmission to go for ₹1,400 crore IPO
Dhoot Transmission Ltd. is planning to launch an initial public offering (IPO) to raise ₹1,400 crore. The IPO will include a fresh issue of equity shares and an offer for sale of existing shares. The funds raised will be used for debt repayment, investments in subsidiaries, acquisitions, and general corporate purposes.
- ▪Dhoot Transmission Ltd. aims to raise ₹1,400 crore through its IPO.
- ▪The IPO will consist of a fresh issue and an offer for sale of equity shares.
- ▪Proceeds will be used for debt repayment, investments in subsidiaries, and acquisitions.
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Auto component manufacture Dhoot Transmission Ltd. is set to hit the capital markets for raising fresh issue of ₹1,400 crore, according to a statement. The proposed offer is a mix of fresh issue and an offer for sale. The fresh issue consists of equity, shares aggregating up to a value of ₹1,400 Crores. The offer for sale comprises up to 1.6 crore equity shares.The company proposes to use the IPO proceeds for repayment/prepayment of borrowings of ₹493.9 crore, and investment in subsidiaries. Besides this, the company plans to use funds for acquisitions, which it has not mentioned anything about and general corporate purposes. The net proceeds are proposed to be deployed over FY27 and FY28.
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