Bain Capital-backed Dhoot Transmission files confidential IPO papers with SEBI

Dhoot Transmission is a supplier to original equipment manufacturers (OEMs) across the automotive and consumer durables segments. (file photo)

Bain Capital-backed auto components maker Dhoot Transmission has filed draft papers with the Securities and Exchange Board of India (Sebi) under the confidential pre-filing route, to raise around $250 million through a mix of primary and secondary share sale.

The confidential filing route allows issuers to fine-tune their initial public offer (IPO) plans away from public scrutiny in the early stages.

Founded in 1999 by Rahul Dhoot, Dhoot Transmission is a supplier to original equipment manufacturers (OEMs) across the automotive and consumer durables segments.

It manufactures wiring harnesses, automotive switches, electronic sensors and controllers, connectors and terminals, automotive cables, power cords and battery packs. Its products are used across a wide range of applications, including two-wheelers, three-wheelers, passenger and commercial vehicles, off-road vehicles, agricultural equipment, medical devices and domestic appliances.

Bain Capital holds a 49 percent stake in Dhoot Transmission. The private equity firm invested in Dhoot in January 2025.

The company has steadily built a global footprint, with customers across eight countries and three continents.

As part of its overseas expansion, it set up an engineering and marketing office in the UK in 2012 and subsequently acquired TFC Cables in Scotland in 2017, which included a manufacturing facility in Slovakia. This was followed by the acquisitions of Parkinson Harness in the UK in 2018 and San Electromec in 2019.

According to a CRISIL Ratings May 2025 credit rating report, Dhoot Transmission is among the largest players in the automotive wire harness and cables segment, supplying to all major automotive OEMs. Its counts Bajaj Auto, TVS Motor Company, Honda Motorcycle & Scooter India and Royal Enfield among its marquee customers.

The company’s consolidated revenue rose to Rs 2,653 crore in FY24 from Rs 1,550 crore in FY22, with overseas operations contributing 15–20 percent of revenue.