ASK Automotive IPO will open for subscription from 07 November 2023. The company aims for an issue size of ₹834 Cr through this IPO.
Company Overview
| Full name | ASK Automotive Limited |
| Sector | Automobile & Ancillaries |
| Industry | Auto Ancillary |
| Company Website | https://askbrake.com/ |
About Company
ASK Automotive is the largest manufacturer of brake-shoe and advanced braking (AB) systems for two-wheelers (2W) in India with a market share of approximately 50% in FY 2022 in terms of production volume for original equipment manufacturers (OEMs) and the branded independent aftermarket (IAM), on a combined basis. The company has been supplying safety systems and critical engineering solutions for more than three decades with in-house designing, developing, and manufacturing capabilities. Its offerings are powertrain agnostic, catering to electric vehicles (EV) and internal combustion engine (ICE) OEMs.
ASK Automotive has since diversified its operations to include offerings such as (i) AB systems; (ii) aluminum lightweight precision (ALP) solutions, where it is a prominent player for 2W OEMs in India with a market share of 8% in FY 2022 in terms of production volume: (iii) wheel assembly to 2W OEMs; and (iv) safety control cables (SCC) products.
The Objectives 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 IPO Timetable
| IPO Opening date | 07 November 2023 |
| IPO Closing | 09 November 2023 |
| Basis of Allotment | 15 November 2023 |
| Initiation Refund | 16 November 2023 |
| Credit to Demat Account | 17 November 2023 |
| Listing Date | 20 November 2023 |
ASK Automotive IPO details
| Issue type | Book Built Issue IPO |
| IPO issue size | ₹834 Cr – 29,571,390 shares |
| Fresh Issue | ₹834 Cr – 29,571,390 shares |
| Offer for sale | Nil |
| Face value | ₹02 per share |
| Price Band | ₹268 to ₹282 per share |
| Lot size | 53 Shares |
| Shareholding pre-issue | 197,142,600 |
| Shareholding post-issue | 197,142,600 |
| Listing Exchange | BSE & NSE |
ASK Automotive IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 53 | ₹14,946 |
| Retail (Max) | 13 | 689 | ₹194,298 |
| S-HNI (Min) | 14 | 742 | ₹209,244 |
| S-HNI (Max) | 66 | 3,498 | ₹986,436 |
| B-HNI (Min) | 67 | 3,551 | ₹1,001,382 |
ASK Automotive IPO Reservation Details
| QIB Shares Offered | 50% |
| NII (HNI) Shares Offered | 15% |
| Retail Shares Offered | 35% |
ASK Automotive Financial Performance
| FY 2021 | FY 2022 | FY 2023 | Q1 FY 2024 | |
| Revenue | 1,543.99 | 2,013.08 | 2,555.17 | 656.51 |
| Expenses | 1,420.40 | 1,905.99 | 2,390.63 | 612.12 |
| Net income | 105.76 | 83.59 | 122.94 | 34.83 |
| Margin (%) | 6.85 | 4.15 | 4.81 | 5.31 |
ASK Automotive Valuations & Margins
| FY 2021 | FY 2022 | FY 2023 | |
| EPS | 5.22 | 4.09 | 6.18 |
| PE ratio | – | – | 43.37 – 45.63 |
| RONW (%) | 17.07 | 13.08 | 19.10 |
| NAV | 30.58 | 31.46 | 32.66 |
| ROACE (%) | 21.98 | 16.78 | 22.06 |
| EBITDA (%) | 13.40 | 9.00 | 9.65 |
| Debt/Equity | 0.13 | 0.25 | 0.49 |
Company Promoters
- Kuldip Singh Rathee
- Vijay Rathee.
Promoter Holding
| Pre Issue Share Holding | 100% |
| Post Issue Share Holding |
ASK Automotive IPO Lead Manager(s)
- JM Financial Limited
- Axis Capital Limited
- ICICI Securities Limited
- IIFL Securities Limited
ASK Automotive IPO Registrar
LINK INTIME INDIA PRIVATE LIMITED
C-101, 1st Floor, 247 Park L.B.S. Marg,
Vikhroli West, Mumbai – 400 083, Maharashtra
Telephone: +91 810 811 4949
Email: askauto.ipo@linkintime.co.in
Website: www.linkintime.co.in
ASK Automotive Contact Details
ASK AUTOMOTIVE LIMITED
Plot No. 13, 14, Sector 5, IMT Manesar,
Gurugram 122 050, Haryana, India
Phone: +91 124 439 6907
Email: compliance@askbrake.com
Website: www.askbrake.com
ASK Automotive IPO Allotment Status
ASK Automotive IPO allotment status will be available on Link Intime’s website. Click on Link Intime IPO weblink to get allotment status.
Final thoughts
ASK Automotive IPO is going to hit Dalal Street soon. applying for an IPO is purely a personal choice. study well about the company and subscribe if you are feeling good about the company. I hope this post will give you enough details to make a fundamental study of the company. learn well and make wise decisions.
Happy Investing
