Marri Retail files DRHP with SEBI for IPO; Dhoot Transmission file confidential papers

Dhoot Transmission, a manufacturer in the auto components sector, has confidentially filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI), marking an important milestone towards a prospective initial public offering. Established over twenty years ago by promoter Rahul Dhoot, the company serves as a principal supplier to original equipment manufacturers in both automotive and consumer durables segments. Its integrated manufacturing and technology setup is unified via SAP S/4HANA systems. Bain Capital, a global private equity firm, owns a 49% stake in Dhoot Transmission, following a transaction that consolidated various promoter entities—including Dhoot Holding Pvt Ltd—under the company's umbrella. The firm has demonstrated robust financial growth, with consolidated revenues rising from Rs 1,550 crore in FY22 to Rs 2,653 crore in FY24. Overseas business now contributes 15–20% of its revenue, highlighting the benefits of its geographic diversification. Financially, Dhoot Transmission’s net worth increased to Rs 598 crore as of March 2024, up from Rs 387 crore the previous year. The company maintains a gearing ratio of 0.59 times, while debt protection metrics improved, with an interest coverage ratio of 9.3 times for FY24. Marri Retail also files DRHP for IPO Similarly, Hyderabad-based Marri Retail has also filed its DRHP with the capital markets regulator SEBI for an IPO comprising a fresh issue of shares up to Rs 522 crore and an offer-for-sale of 27 million equity shares by promoter Marri Venkat Reddy. The IPO will have a face value of Rs 2 per share and is being made via the book-building process. Not more than 50% of the net offer is allocated to qualified institutional buyers (QIB), up to 15% to non-institutional investors (NII), and up to 35% to retail individual investors (RII). Book-running lead managers are Nuvama Wealth Management, IIFL Capital Services, and Motilal Oswal Investment Advisors. The proposed equity shares will be listed on BSE and NSE. The fresh issue will fund several initiatives: Rs 115.6 crore for repayment or prepayment of borrowings, Rs 250.5 crore for capital expenditure to open 10 new apparel stores, one new apparel store with a jewellery shop-in-shop (SIS), and two standalone jewellery outlets, and Rs 35.8 crore for lease or sublease rent payments related to existing stores and warehouses. A portion will also support general corporate purposes. The company, in consultation with book-running lead managers, may consider a pre-IPO placement of up to Rs 104.4 crore. Should this placement be completed, the size of the fresh issue will be reduced accordingly. Marri Retail is an apparel and jewellery retailer operating stores under multiple brands. Its product portfolio spans premium, mid-premium, and value price points. As at 30 September 2025, Marri Retail offered 522 apparel articles (including 129 under private label brands) and 259 jewellery articles, establishing itself as a one-stop destination for family shopping.