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ASK Automotive Limited IPO Detail

ASK Automotive Limited IPO Detail

Incorporated in 1988, ASK Automotive Limited is a manufacturer of Advance Braking Systems for two-wheelers in India.

The product range of the company includes (I) AB systems; (ii) aluminium lightweight precision("ALP") (iii) wheel assembly to 2W OEMs; and (iv) safety control cables ("SCC"). The company operates in India as well as overseas.

As of June 2023, the company has 15 manufacturing units spread across five states in India. ASK Automotive supplies to Original Equipment Manufacturers like HMSI, HMCL, Suzuki, TVS, Yamaha, Bajaj, Royal Enfield, Denso, Magneti Marelli, and others. It also provides to the independent aftermarket and the export market through its manufacturing facilities located in different parts of the country.

The company's manufacturing facilities have world-class certifications in quality and safety including IATF 16949:2016, ISO 9001:2015, ISO 14001:2015, and ISO 45001:2018.

Company Promoters

Kuldip Singh Rathee and Vijay Rathee

IPO Details

IPO Opening DateNov 07, 2023
IPO Closing DateNov 09, 2023
Issue TypeBook Built Issue IPO
Face Value₹2 per equity share
IPO Price ₹268 - 282 per equity share
Market Lot53 Shares
Min Order Quantity53 Shares
Listing AtBSE, NSE
Issue Size₹834.00 Cr
Fresh Issue₹834.00 Cr
Offer for Sale-
Retail Portion 35%

IPO Subscription (Bidding Detail)

Day 1 0.03x 0.41x 0.57x - 0.38x
Day 2 0.06x 2.28x 1.69x - 1.35x
Day 3 142.41x 35.47x 5.70x - 51.14x

IPO Tentative Timetable

The ASK Automotive Limited IPO open date is Nov 07, 2023, and the close date is Nov 09, 2023. The issue may list on Nov 20, 2023.

IPO Open DateNov 07, 2023
IPO Close DateNov 09, 2023
Basis of Allotment DateNov 10, 2023
Initiation of RefundsNov 16, 2023
Credit of Shares to Demat AccountNov 17, 2023
IPO Listing DateNov 20, 2023

IPO Lot Size

The ASK Automotive Limited IPO market lot size is 53 shares. A retail-individual investor can apply for up to 14 lots (742 shares or ₹209244).

ApplicationLotsSharesAmount (Cut-off)

IPO Promoter Holding

Pre Issue Share Holding100%
Post Issue Share Holding

Company Financials:

For the year/period ended (₹ in Cr.)

Financial Year Total Assets Total Revenue Profit After Tax
31-Mar-21 948.25 1567.77 106.20
31-Mar-22 1105.56 2024.26 82.66
31-Mar-23 1281.21 2566.28 122.95

Objects of the Issue:

The company will not receive any proceeds from the Offer and all the Offer Proceeds will be received by the Selling Shareholders, in proportion to the Offered Shares sold by the respective Selling Shareholders as part of the Offer.

ASK Automotive Limited IPO Registrar:

Link Intime India Private Ltd

ASK Automotive Limited IPO Lead Manager(s):

Jm Financial Limited Axis Capital Limited ICICI Securities Limited Iifl Securities Ltd

Company Contact Information:

ASK Automotive Limited

Flat No. 104, 929/1,

Naiwala,Faiz Road

Karol Bagh,New Delhi 110 005