ASK Automotive IPO: ASK Automotive Limited IPO Details

Investing in the stock market can be an exciting journey, and one of the ways to participate in this dynamic world is through Initial Public Offerings (IPOs). ASK Automotive Limited is one such company that’s set to make its IPO debut. In this blog, we will take a closer look at the ASK Automotive Limited IPO, including its details, financial performance, and the company itself.

Also See: ASK Automotive IPO GMP

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ASK Automotive IPO Details

Here are the key details of the ASK Automotive Limited IPO:

ParameterDetails
IPO NameASK Automotive Limited
IPO DateNovember 7, 2023, to November 9, 2023
Basis of AllotmentWednesday, November 15, 2023
Listing DateNovember 20, 2023
Face Value₹2 per share
Price₹268 to ₹282 per share
Lot Size53 shares
Total Issue Size29,571,390 shares
(aggregating up to ₹834.00 Cr)
Offer for Sale29,571,390 shares of ₹2 (aggregating up to ₹[.] Cr)
Issue TypeBook Built Issue IPO
Listing AtBSE, NSE
Shareholding Pre-Issue197,142,600
Shareholding Post-Issue197,142,600

The ASK Automotive IPO opens for subscription on November 7, 2023, and closes on November 9, 2023. The allotment is expected to be finalized on Wednesday, November 15, 2023. The shares are set to list on both the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) on Monday, November 20, 2023.

ASK Automotive IPO Lot Size

Investors can bid for a minimum of 53 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.

ApplicationLotsSharesAmount
Retail (Min)153₹14,946
Retail (Max)13689₹194,298
S-HNI (Min)14742₹209,244
S-HNI (Max)663,498₹986,436
B-HNI (Min)673,551₹1,001,382

ASK Automotive IPO Reservation

The IPO reservation is as follows:

  • QIB Shares Offered: Not more than 50% of the Net Issue
  • Retail Shares Offered: Not less than 35% of the Net Issue
  • NII (HNI) Shares Offered: Not less than 15% of the Net Issue

ASK Automotive IPO Objectives

It’s important to note that ASK Automotive Limited will not receive any proceeds from the IPO. 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.

Financial Performance

As potential investors, it’s crucial to assess the financial health of the company. According to the restated consolidated financial information, ASK Automotive Limited has shown positive growth in its financial performance. The company’s revenue increased by 26.78%, and its profit after tax (PAT) rose by an impressive 48.75% between the financial year ending March 31, 2023, and March 31, 2022. This growth is an encouraging sign for those considering investment in the IPO.

Period Ended30 Jun 202331 Mar 202331 Mar 202231 Mar 2021
Assets1,443.341,281.211,105.56948.25
Revenue657.552,566.282,024.261,567.77
Profit After Tax34.83122.9582.66106.20
Net Worth643.77631.91622.23
Reserves and Surplus639.03604.34591.73581.54
Total Borrowing268.03231.82119.7854.02
Amount in ₹ Crore
Line Graphs

About ASK Automotive Limited

ASK Automotive Limited, incorporated in 1988, is a manufacturer of Advance Braking Systems for two-wheelers in India. The company’s product range includes Advanced Braking (AB) systems, Aluminum Lightweight Precision (ALP), wheel assembly for 2W Original Equipment Manufacturers (OEMs), and safety control cables (SCC). It operates both in India and overseas markets.

As of June 2023, ASK Automotive Limited has 15 manufacturing units spread across five states in India. The company supplies its products to Original Equipment Manufacturers such as HMSI, HMCL, Suzuki, TVS, Yamaha, Bajaj, Royal Enfield, Denso, Magneti Marelli, and others. Additionally, it serves the independent aftermarket and the export market through its manufacturing facilities located in various parts of the country.

One notable aspect of ASK Automotive Limited is its commitment to quality and safety. The company’s manufacturing facilities hold world-class certifications, including IATF 16949:2016, ISO 9001:2015, ISO 14001:2015, and ISO 45001:2018. This emphasis on quality and safety can instill confidence in potential investors.

ASK Automotive IPO Registrar

For any queries or concerns related to the IPO, you can reach out to the registrar:

Registrar: Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: [email protected]
Website: Link Intime India IPO Allotment

ASK Automotive IPO Lead Managers

The lead managers for the ASK Automotive IPO are:

  • JM Financial Limited
  • Axis Capital Limited
  • ICICI Securities Limited
  • IIFL Securities Ltd

These lead managers play a crucial role in overseeing the IPO process and ensuring its success.

ASK Automotive IPO Timeline

ASK Automotive IPO opens on November 7, 2023, and closes on November 9, 2023.

IPO Open DateTuesday, November 7, 2023
IPO Close DateThursday, November 9, 2023
Basis of AllotmentWednesday, November 15, 2023
Initiation of RefundsThursday, November 16, 2023
Credit of Shares to DematFriday, November 17, 2023
Listing DateMonday, November 20, 2023
Cut-off time for UPI mandate confirmation5 PM on November 9, 2023
Note: Tentative Schedule
ASK Automotive IPO

In conclusion, the ASK Automotive Limited IPO presents an opportunity for investors to become part of a company with a strong track record, a focus on quality and safety, and promising financial growth. Before making any investment decisions, it’s essential to carefully consider the IPO’s price range, financial performance, and the overall market conditions. Additionally, consulting with financial experts and conducting thorough research can help you make an informed decision regarding your investment in the ASK Automotive IPO.

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Disclaimer: The information provided on this website is for informational purposes only and should not be construed as financial or investment advice. Users are advised to do their own research and consult a qualified financial advisor before making any investment decisions.
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