MUMBAI, Feb. 3 -- Bain Capital-backed auto components maker Dhoot Transmission Ltd has filed draft papers with the Securities and Exchange Board of India (Sebi) under the confidential pre-filing route, according to a public announcement in local newspapers on Tuesday.

The Aurangabad-based company could raise up to $250 million through a mix of primary and secondary share sales, two people familiar with the development told Mint. Bain Capital is expected to divest a portion of its stake, while the promoter group currently does not plan to sell any shares, one of these people added.

A second person confirmed the development but noted that the IPO size and details of the stake sale could change depending on market conditions and company re...