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 RatheeIPO Details
| IPO Opening Date | Nov 07, 2023 |
| IPO Closing Date | Nov 09, 2023 |
| Issue Type | Book Built Issue IPO |
| Face Value | ₹2 per equity share |
| IPO Price | ₹268 - 282 per equity share |
| Market Lot | 53 Shares |
| Min Order Quantity | 53 Shares |
| Listing At | BSE, NSE |
| Issue Size | ₹834.00 Cr |
| Fresh Issue | ₹834.00 Cr |
| Offer for Sale | - |
| Retail Portion | 35% |
IPO Subscription (Bidding Detail)
| AS On | QIB | SHNI | BHNI | NII | RII | TOTAL |
|---|---|---|---|---|---|---|
| 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 Date | Nov 07, 2023 |
| IPO Close Date | Nov 09, 2023 |
| Basis of Allotment Date | Nov 10, 2023 |
| Initiation of Refunds | Nov 16, 2023 |
| Credit of Shares to Demat Account | Nov 17, 2023 |
| IPO Listing Date | Nov 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).
| Application | Lots | Shares | Amount (Cut-off) |
|---|---|---|---|
| Minimum | 1 | 53 | ₹14946 |
| Maximum | 14 | 742 | ₹209244 |
IPO Promoter Holding
| Pre Issue Share Holding | 100% |
| 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
