ASK Automotive IPO

ASK Automotive IPO

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 nameASK Automotive Limited
SectorAutomobile & Ancillaries
IndustryAuto Ancillary
Company Website

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 date07 November 2023
IPO Closing09 November 2023
Basis of Allotment15 November 2023
Initiation Refund16 November 2023
Credit to Demat Account17 November 2023
Listing Date20 November 2023
(Cut-off time for UPI mandate confirmation – 5 PM on November 9, 2023)

ASK Automotive IPO details

Issue typeBook Built Issue IPO
IPO issue size₹834 Cr – 29,571,390 shares
Fresh Issue₹834 Cr – 29,571,390 shares
Offer for saleNil
Face value₹02 per share
Price Band ₹268 to ₹282 per share
Lot size53 Shares
Shareholding pre-issue197,142,600
Shareholding post-issue197,142,600
Listing ExchangeBSE & NSE

ASK Automotive IPO Lot Size

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 Details

QIB Shares Offered50%
NII (HNI) Shares Offered15%
Retail Shares Offered35%

ASK Automotive Financial Performance

 FY 2021FY 2022FY 2023Q1 FY 2024
Net income105.7683.59122.9434.83
Margin (%)6.854.154.815.31
(Amount in ₹ Crores)

ASK Automotive Valuations & Margins

FY 2021FY 2022FY 2023
PE ratio43.37 – 45.63
RONW (%)17.0713.0819.10
ROACE (%)21.9816.7822.06
EBITDA (%)13.409.009.65

Company Promoters

  • Kuldip Singh Rathee 
  • Vijay Rathee.

Promoter Holding

Pre Issue Share Holding100%
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

C-101, 1st Floor, 247 Park L.B.S. Marg,
Vikhroli West, Mumbai – 400 083, Maharashtra
Telephone: +91 810 811 4949

ASK Automotive Contact Details

Plot No. 13, 14, Sector 5, IMT Manesar,
Gurugram 122 050, Haryana, India
Phone: +91 124 439 6907

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

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