Adia pledges USD 5.7 mn to anchor Dhoot’s IPO

The Abu Dhabi Investment Authority (Adia) is back in India’s IPO market, committing INR 500 mn (USD 5.7 mn) to anchor Dhoot Transmission’s IPO, per the company’s anchor allocation filing (pdf). Public subscription for the Indian auto component manufacturer’s USD 322 mn IPO opens today, The Times of India reports.

Anchor details: Two of Adia’s investment vehicles allotted a combined 574k shares at INR 871 apiece. Adia Stable was allocated 401.8k shares, worth INR 350 mn (USD 3.7 mn), while Adia Monsoon received 172.2k shares, valued at INR 150 mn (USD 1.6 mn). Together, the two vehicles accounted for 5.4% of the anchor book.

Other global participants took part as anchors, including BlackRock, WhiteOak, Amundi, and Allianz Global Investors. Bain Capital already backs the firm, Reuters reports.

The target: The move gives sovereign investors like Adia direct exposure to India’s expanding automotive manufacturing and component supply chain. Dhoot generated INR 45.2 bn in FY 2026 revenue, up 31.4% y-o-y, alongside INR 3.79 bn in net income.

Adia has been backing a string of IPOs in India recently, taking part (also as an anchor investor) in the USD 934 mn listing of hospital network Manipal Health Enterprises last week. It also showed up in the biggest Indian IPO so far this year, SBI Funds’ USD 1.03 bn listing.

IN CONTEXT- Adia’s ties to India go further than listings. The fund backed Kotak Alternate Asset Manager’s USD 1 bn India real estate fund, KRN Heat Exchangers’ USD 36.8 mn QIP, and Acme Solar’s USD 328 mn equity raise. It also bought into India’s RBL Bank.