Indian auto components manufacturer Dhoot Transmission is planning to launch its initial public offering this month to raise as much as 31 billion Indian rupees, Bloomberg News reported Friday, citing people familiar with the matter.
The IPO is expected to comprise 14 billion rupees worth of new stock and the sale of about 16.3 million shares by existing investors, but the offer size and timing could still change depending on market conditions, according to the report.
The selling shareholders include U.S. investment firm Bain Capital, which owns about 55% of the company, the report said.
Dhoot Transmission did not immediately respond to' request for comment.
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