New Delhi, 24th August 2026: Shardul Amarchand Mangaldas & Co. (SAM) acted as legal counsel to Bain Capital (BC Asia Investments XV Limited), the Corporate Promoter Selling Shareholder, as to Indian law, in connection with the initial public offering (IPO) of Dhoot Transmission Limited (Dhoot), one of India’s leading electrical and electronics companies.
The IPO comprised an issue of equity shares aggregating to approximately ₹30,668.85 million (US$321 million), including a fresh issue of approximately ₹14,000 million and an offer for sale of approximately ₹16,668.85 million by the Selling Shareholders including Bain Capital and Mangalam Capital Private Limited. The equity shares were listed on BSE Limited and the National Stock Exchange of India Limited on 17 August 2026.
The IPO was oversubscribed 74.21 times overall and the equity shares listed at a premium of approximately 38% over the IPO price.
Dhoot is amongst the top two players in wiring harnesses for two-wheelers and three-wheelers in India, with a 41% market share by value. It is also a leader in the electric two-wheeler and three-wheeler segment, with a market share of close to 70% in Fiscal 2026.
The SAM transaction team was led by Nikhil Naredi, Partner, and comprised Manjari Tyagi, Partner; Jheel Bhargava, Senior Associate; and Bhumika Panigrahi, Associate.
About Shardul Amarchand Mangaldas & Co:
Shardul Amarchand Mangaldas & Co. (SAM), founded on a century of legal achievements, is one of India’s leading full-service law firms with the ISO/IEC 27001:2022 certification – the latest global benchmark for Information Security Management Systems. The Firm’s mission is to enable business by providing solutions as trusted advisers through excellence, responsiveness, innovation, and collaboration. SAM is known globally for its exceptional practices in mergers & acquisitions, private equity, competition law, insolvency & restructuring, dispute resolution, international commercial arbitration, capital markets, banking & finance, tax, intellectual property, data protection and data privacy, white collar crime, technology law and infrastructure, energy and project finance.
With the full suite of Harvey AI functionalities, the Firm has a pan-India presence and has been at the helm of major headline transactions and litigations in all sectors, besides advising major multinational corporates on their entry into the Indian market and their business strategy. Currently, the Firm has 1,004 lawyers including 193 Partners, offering legal services through its offices in New Delhi, Mumbai, Gurugram, Ahmedabad, GIFT City (Gandhinagar), Kolkata, Bengaluru and Chennai.
For further information, please contact –
Qasir Khan
M: +91 9654882105
Email: qasir.khan@amsshardul.com
Shashwati
M: +91 97180 80401
Email: shashwati@avianwe.com
