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.