Ask Automotive IPO GMP

Ask Automotive Limited, one of India’s leading manufacturers of brake shoes and advanced braking systems for two-wheelers, is set to go public with its mainboard Initial Public Offering (IPO) on the BSE and NSE platforms. The subscription period for the Ask Automotive IPO is scheduled to open from November 7 to November 9, 2023, and the face value of each share is Rs 2. In this blog, we will delve into the Grey Market Premium (GMP) of the Ask Automotive IPO and provide an overview of the company’s strengths and IPO-related dates.

Ask Automotive IPO GMP

Let’s take a look at the recent Grey Market Premium for the Ask Automotive IPO: [Last Updated: 15-Nov-2023; 08:41]

"Exciting news! Stockesta is now on WhatsApp and Telegram Channels 🚀 Subscribe today | Stay updated with the latest IPO insights!" Follow on Whatsapp! and Join Telegram!

GMP DateIPO PriceGMPSub2 Sauda RateEstimated Listing Price
15-11-2023₹282₹281100/15400₹310 (9.93%)
14-11-2023₹282₹281100/15400₹310 (9.93%)
13-11-2023₹282₹281100/15400₹310 (9.93%)
12-11-2023₹282₹331300/18200₹315 (11.70%)
11-11-2023₹282₹331300/18200₹315 (11.70%)
10-11-2023₹282₹421700/23800₹324 (14.89%)
09-11-2023₹282₹502000/28000₹332 (17.73%)
08-11-2023₹282₹502000/28000₹332 (17.73%)
07-11-2023₹282₹552200/30800₹337 (19.5%)
06-11-2023₹282₹401600/22400₹322 (14.18%)
05-11-2023₹282₹401600/22400₹322 (14.18%)
04-11-2023₹282₹0₹ (0%)
03-11-2023₹282₹0₹ (0%)
02-11-2023₹282₹0₹ (0%)
01-11-2023₹0₹ (0%)
31-10-2023₹0₹ (0%)

Please note that GMP reflects the unofficial, unregulated market where IPO shares are traded before their official listing. A positive GMP suggests that the IPO is expected to perform well on the listing day, while a negative GMP indicates that it may debut at a discount. It’s essential to remember that GMP can be highly volatile, and making an investment decision solely based on it can be risky. Therefore, it’s crucial to consider all factors before investing in the Ask Automotive IPO.

IPO Grey Market Premium (GMP)

The Grey Market Premium (GMP) serves as an indicator of how a particular IPO might perform on the day of its official listing. The GMP is the price at which the IPO shares are traded unofficially in the grey market before they are listed on stock exchanges. It is essential for investors to understand that the GMP is not regulated and can fluctuate significantly.

As such, it’s not advisable to base your investment decisions solely on the GMP. The GMP should be used as one of several factors to consider when deciding whether to invest in an IPO. Other crucial factors include the company’s fundamentals, its financials, and your own investment objectives.

About the Company – ASK Automotive

Ask Automotive Limited, established in January 1988, is the largest manufacturer of brake shoes and advanced braking systems for two-wheelers in India, with a market share of approximately 50% in FY2023. The company also provides safety systems and critical engineering solutions to both electric vehicle and internal combustion engine vehicle manufacturers. The “ASK” brand is renowned in the 2W IAM (aftermarket) segment, solidifying its position in the market.

The company’s portfolio has diversified over the years to include advanced braking systems, Aluminium Lightweight Precision (ALP) solutions, wheel assembly, and Safety Control Cable (SCC) products. These products cater to various sectors, including automotive and non-automotive, serving OEMs in 2Ws, 3Ws, passenger vehicles, commercial vehicles, and non-automotive off-road vehicles, power tools, and outdoor equipment.

ASK Automotive’s strengths lie in its technology and expertise in advanced materials engineering and precision engineering. With over 30 years of experience, they focus on design, research and development, and have a competitive edge in terms of quality, cost, and delivery parameters.

ASK Automotive IPO Strengths

  • Established manufacturer of safety systems and critical engineering solutions for top Indian OEMs.
  • Technology and innovation-driven manufacturing process, catering to the needs of both EV and ICE sectors.
  • Long-standing relationships with Indian and global OEMs.
  • Strong financial performance and efficient use of capital.
  • A professional management team and a dedicated board of directors.

ASK Automotive IPO Dates

Here are the key dates related to the Ask Automotive IPO:

  • IPO Open Date: November 7, 2023
  • IPO Close Date: November 9, 2023
  • Basis of Allotment Finalization Date: November 15, 2023
  • Refunds Initiation Date: November 16, 2023
  • Credit of Shares to Demat Account: November 17, 2023
  • IPO Listing Date: November 20, 2023

These dates are subject to change, and it’s essential to keep an eye on the latest updates regarding the IPO.

ASK Automotive IPO

Conclusion

The Ask Automotive IPO is generating interest in the market, as indicated by the Grey Market Premium. However, potential investors should exercise caution and not base their investment decisions solely on GMP. It’s crucial to conduct thorough research, consider the company’s fundamentals, financial performance, and your own investment goals before making any decisions. With its strong market position and a focus on technology and innovation, ASK Automotive presents an exciting opportunity for investors looking to diversify their portfolios. Stay informed and make well-informed investment choices.

"Exciting news! Stockesta is now on WhatsApp Channels 🚀 Subscribe today by clicking the link and stay updated with the latest IPO insights!" Click here!

👉 IPO GMP || IPO News || IPO Details || IPO Review || Join Whatsapp Channel and read news related to IPO on Stockesta.com.
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.
What is an IPO?- Why Companies Go Public