Severeconcentrationpage 29
Top customer Bajaj Auto is 31.84% of revenue
Bajaj Auto Limited is our top customer contributing 31.84% of our total revenue from operations
ListedMainboardAutomobile Two & Three WheelersDHOOTTRANS
Dhoot Transmission IPO
Dhoot Transmission IPO is a mainboard IPO raising ₹3,067 Cr at ₹829 – ₹871 a share. It listed on 17 Aug 2026 at ₹1,200, +37.8% against its issue price of ₹871, and trades at ₹1,729 today (+98.5% since issue). It was subscribed 74× in total.
₹871
Issue price
₹1,729
Price now
+98.5%
Since issue price
17 Aug 2026
Listed on
74×Subscribed (final) · all exchanges
74.2 times more demand than shares on offer
populated partly populated we hold nothing here — the tab says why
What the prospectus says could go wrong
Read from the 592-page prospectus. Indian prospectuses list hundreds of risk factors, most of them generic boilerplate. These are the 13 specific to this company; 401 generic ones were skipped. Every one is quoted verbatim with its page, so you can check it against the document.
Severeoperationalpage 30
No firm long-term OEM volume commitments
We do not have firm, long-term volume commitments with our OEM customers... customers typically retain broad rights to modify, reschedule or cancel orders
Severefinancialpage 50
Prior covenant breaches on secured borrowings
While there have been some instances of breaches of covenants in our financing agreements which have been waived by the lenders, we cannot assure you that we will be able to obtain necessary approvals if we fail to comply with our obligations in the future.
Severepromoterpage 64
Indirect change of control via promoter share pledge
Enforcement of their rights by such lenders may result in a reduction in BC Asia Investments XXIII Limited's shareholding in our Promoter, BC Asia Investments XV Limited, and may result in an indirect change in control of our Company
Severeoperationalpage 35
Cybersecurity breach with data exfiltration
In Fiscal 2025, we identified and contained an unauthorised access to certain active directory servers that resulted in the exfiltration of a substantial volume of data, including confidential information such as pricing details and product designs
Severeconcentrationpage 28
Revenue 77-82% from 2W/3W wiring harnesses
wiring harnesses, which constituted 77.08%, 78.00% and 81.93% of our revenue from operations in Fiscals 2026, 2025 and 2024
Severefinancialpage 31
Net working capital days surged from 12 to 102
Net working capital days (number of days) 102 12 21
Severepromoterpage 60
Promoters hold 84.87% on fully diluted basis
our Promoters, hold in aggregate 159,943,945 Equity Shares of face value of ₹2 each, which constitutes 84.87% of the issued, subscribed and paid-up Equity Share capital of our Company on a fully diluted basis
Severefinancialpage 39
Raw materials 67.82% of revenue; top 10 suppliers 43.66%
cost of materials consumed accounted for 67.82%, 65.51% and 65.37% of our revenue from operations and 76.20%, 74.86% and 75.85% of our total expenses
Severefinancialpage 60
Contingent liabilities surged 8x to ₹600.51M
Advisory and Consultancy Services Fees 480.41 ... Total 600.51
Severeregulatorypage 54
Untraceable corporate records and prior MCA non-compliance
Certain of our Company's corporate records are not traceable as the relevant information was not available in the records maintained by our Company or in the electronic records of the Ministry of Corporate Affairs ("MCA Portal") or in the physical records available at the RoC.
Severeoperationalpage 45
100% of non-harness capacity concentrated in Maharashtra
100% of our other products including sensors, controllers, automotive switches, power chords capacity are located in Maharashtra
Severeoperationalpage 68
US Entity List risk to major solar inverter supplier
in May 2019, the U.S. government added several Chinese companies, including one of our major solar inverter suppliers, to the 'Entity List' under the Export Administration Regulations
Extracted from the issuer’s own prospectus and ranked by how specific and material each risk is to this company. Severity is our assessment of the disclosure, not a prediction — and nothing here is a recommendation to apply to this issue.
What’s in court
The issuer’s own summary of outstanding legal proceedings — SEBI requires this table in every prospectus. Counts and amounts are as disclosed.
| Against | Criminal | Tax | Other material | Amount at stake |
|---|---|---|---|---|
| The company | 1 | 30 | 1 | ₹24 Cr |
| Subsidiaries | 0 | 5 | 1 | ₹0.3 Cr |
| Promoters | 0 | 0 | 1 | ₹0.0 Cr |
| Directors | 4 | 0 | 1 | ₹1.6 Cr |
| Group companies | 0 | 0 | 0 | — |
case₹24 Crpage 490
Company – 30 outstanding tax cases (5 direct + 25 indirect) aggregating Rs 236.93 million (Direct Rs 89.60m + Indirect Rs 147.33m)
case₹1.6 Crpage 490
Kabra Extrusiontechnik vs Kinetic Green / Tarun Dharampal Sharma (Ind. Director) – Section 138 NI Act cheque dishonour of Rs 15.50 million, pending before Metropolitan Magistrate, Andheri
case₹0.0 Crpage 488
DHPL (Subsidiary) suo motu adjudication before RoC – show cause notice dated June 19, 2026 proposing Rs 10,000 penalty on Director/Promoter Rahul Radhavallabh Dhoot under Section 450 of Companies Act (paid); matter pending
casepage 488
CAQM complaint against Company (Mar 7, 2025) for alleged dust-control violations at NCR site under CAQM Act 2021 – pending before JM Ist Class, Faridabad
casepage 489
Drugs Inspector vs Rishi Mandawat (Director) and others – criminal complaint under Drugs & Cosmetics Act for alleged sale without license; quashing petition filed before Delhi HC, matter stayed
Conversion used: Rs 10 million = Rs 1 crore. Tax amounts stated in Rs million in the Tax Claims table (p490): Company 89.60 + 147.33 = 236.93 million (Rs 23.693 cr); Subsidiaries 0.75 + 2.06 = 2.81 million (Rs 0.281 cr); tax grand total Rs 239.74 million = Rs 23.974 cr. No explicit grand total of all litigation is stated in the text, so total_amount_cr is null. The DHPL suo motu adjudication is referenced under Subsidiaries, Promoters and Directors sections (same matter, Rs 10,000 penalty). Material civil litigation, KMP and Senior Management proceedings are all Nil. Group Companies litigation is Nil.. Outstanding means unresolved — a listed case is an exposure, not a verdict.
Source documents
What the issuer and the exchanges published. Everything else on this tab is read out of these.
Prospectus on SEBI ↗
The full prospectus — business, financials, risk factors and litigation.
Anchor investor allocation ↗
Which institutions were allotted shares before bidding opened, and how many.
Bidding centres ↗
Where physical applications could be submitted.
Basis of issue price (peer ratios) ↗
The issuer's own "basis of issue price": the earnings multiples it is asking for, and the peer companies it chose to compare itself against.
Red Herring Prospectus ↗
The full prospectus — business, financials, risk factors and litigation.