According to latest grey market premium (GMP) data, Dhoot Transmission has emerged as the strongest listing-gain candidate among three IPOs, with an implied listing gain of 30%. The GMP data reflects strong investor sentiment ahead of the IPO listing, with Dhoot Transmission commanding a ₹266 premium as of the latest trading session. Molbio Diagnostics follows at 18.84%, while Milky Mist Dairy Food indicates a 14.64% listing gain. As reported by Essential Business Intelligence, the GMP figures show Dhoot Transmission's implied listing price of ₹1,137 over the upper price band of ₹871 per share, representing a 30.54% gain over the IPO price. According to LiveMint, the IPO's Grey Market Premium (GMP) has been fluctuating between ₹146.00 and ₹276 throughout recent sessions, indicating positive expectations for its listing.
The Dhoot Transmission IPO has demonstrated exceptional subscription levels, with overall subscription reaching 74.21 times by the conclusion of bidding. According to BSE data, the retail category was subscribed 8.12 times, while the NII segment saw remarkable 51.93 times subscription. Molbio Diagnostics and Milky Mist Dairy Food were subscribed 0.34 times and 0.13 times respectively. The subscription levels are closely tracked by investors for insights into potential listing performance, with Dhoot Transmission achieving QIBs at 212.92 times, NIIs at 51.93 times, and RIIs at 8.12 times. The strong institutional interest reflects confidence in the auto components maker's prospects in the automotive and electrical-electronics components sector.
Ahead of the IPO opening, Dhoot Transmission successfully raised ₹918.27 crore from anchor investors on August 7th. This significant anchor investment demonstrates strong institutional confidence in the company's prospects. The anchor investor participation typically indicates institutional belief in the company's long-term growth potential and market positioning. Dhoot Transmission IPO allotment was finalized on Thursday, August 13th, with shares credited to demat accounts on Friday, August 14th. Those who did not receive shares can expect refunds on the same day. The company has reserved 75,853 equity shares for eligible employees, who will receive a discount of ₹80 per share.
The ₹3,066.89 crore IPO comprises a fresh issue of ₹1,400 crore and an OFS component of ₹1,666.89 crore. The issue price band is set at ₹829-₹871 per share with a face value of ₹2 and a minimum lot size of 17 shares, requiring a minimum investment of ₹14,807 at the upper price band. The IPO opened for subscription on August 10 and closed on August 12, with share allotment finalized on August 14. The issue will list on August 17 on both BSE and NSE. At the upper end of the price band, Dhoot Transmission is expected to command a market capitalization of around ₹17,816.14 crore upon listing. The issue is being managed by Axis Capital, Jefferies, Kotak Mahindra Capital, Nomura, SBI Capital Markets, and 360 ONE WAM as book-running lead managers.
The ₹1,553 crore book-built issue comprises a fresh issue of ₹1,428 crore and an OFS worth ₹125 crore. According to Essential Business Intelligence, the price band is set at ₹133-₹140 per share with a minimum investment requirement of ₹107 shares (₹14,980 based on upper price). The IPO opened for subscription on August 11 and is scheduled to list tentatively on August 18, with share allotment finalized on August 14. JM Financial Ltd. is the book running lead manager and Kfin Technologies Ltd. is the registrar. The latest GMP indicates a potential ₹20.5 premium, translating to an estimated listing price of ₹160.5.
