21 Hrs
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الاقتصادية
Parent company's Bajaj Auto IPO success
Dahoot Transmission, an Indian company specializing in automotive components, announced the completion of its initial public offering (IPO) worth $321 million on the second day of the book-building process, receiving bids to purchase 24.97 million shares compared to 24.96 million shares offered. The company received strong support from non-institutional investors and individuals. It expects its growth to continue as India shifts toward electric vehicles, which require a higher content of wiring, and is working on expanding its product portfolio to include batteries, chargers, and inverters. The company's total revenue is projected to reach 45.3 billion rupees in the fiscal year 2026, with profit margins between 15% and 16%. The share price is set between 829 and 871 rupees, with trading expected to commence on August 17. Dahoot Transmission is also enhancing its strategy by expanding into electric vehicle components and capitalizing on this growing market in India.
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