Dhoot Transmission shares made a strong debut on the Indian stock exchange on Monday, listing at a 38% premium over the IPO price of ₹450.
The company, backed by private equity firm Bain Capital, achieved a market valuation of approximately $2.5 billion following the successful listing.
Analysts attribute the strong performance to the firm's dominant position in the automotive wiring harness market and growing demand from the electric vehicle sector in India.