ASK Automotive Limited IPO (ASK Automotive IPO) Details
ASK Automotive IPO is a book built issue of Rs 834.00 crores. The issue comprises of fresh issue of Rs 834.00 crore and offer for sale of 2.96 crore shares.
ASK Automotive IPO opens for subscription on November 7, 2023 and closes on November 9, 2023. The allotment for the ASK Automotive IPO is expected to be finalized on Wednesday, November 15, 2023. ASK Automotive IPO will list on BSE, NSE with tentative listing date fixed as Monday, November 20, 2023.
ASK Automotive IPO price band is set at ₹268 to ₹282 per share. The minimum lot size for an application is 53 Shares. The minimum amount of investment required by retail investors is ₹14,946. The minimum lot size investment for sNII is 14 lots (742 shares), amounting to ₹209,244, and for bNII, it is 67 lots (3,551 shares), amounting to ₹1,001,382.
Jm Financial Limited, Axis Capital Limited, ICICI Securities Limited and Iifl Securities Ltd are the book running lead managers of the ASK Automotive IPO, while Link Intime India Private Ltd is the registrar for the issue.
Refer to ASK Automotive IPO RHP for detailed information.
ASK Automotive IPO Details
| IPO Date | November 7, 2023 to November 9, 2023 |
| Listing Date | [.] |
| Face Value | ₹2 per share |
| Price Band | ₹268 to ₹282 per share |
| Lot Size | 53 Shares |
| Total Issue Size | 29,571,390 shares (aggregating up to ₹834.00 Cr) |
| Fresh Issue | [.] shares (aggregating up to ₹834.00 Cr) |
| Offer for Sale | 29,571,390 shares of ₹2 (aggregating up to ₹[.] Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 197,142,600 |
| Share holding post issue | 197,142,600 |
ASK Automotive IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| 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 Timeline (Tentative Schedule)
ASK Automotive IPO opens on November 7, 2023, and closes on November 9, 2023.
| IPO Open Date | Tuesday, November 7, 2023 |
| IPO Close Date | Thursday, November 9, 2023 |
| Basis of Allotment | Wednesday, November 15, 2023 |
| Initiation of Refunds | Thursday, November 16, 2023 |
| Credit of Shares to Demat | Friday, November 17, 2023 |
| Listing Date | Monday, November 20, 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on November 9, 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.
| 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 Promoter Holding
| Share Holding Pre Issue | 100% |
| Share Holding Post Issue |
About ASK Automotive Limited
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.
ASK Automotive Limited Financial Information (Restated Consolidated)
ASK Automotive Limited's revenue increased by 26.78% and profit after tax (PAT) rose by 48.75% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 30 Jun 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 1,443.34 | 1,281.21 | 1,105.56 | 948.25 |
| Revenue | 657.55 | 2,566.28 | 2,024.26 | 1,567.77 |
| Profit After Tax | 34.83 | 122.95 | 82.66 | 106.20 |
| Net Worth | 643.77 | 631.91 | 622.23 | |
| Reserves and Surplus | 639.03 | 604.34 | 591.73 | 581.54 |
| Total Borrowing | 268.03 | 231.82 | 119.78 | 54.02 |
| Amount in ₹ Crore | ||||
Key Performance Indicator
ASK Automotive IPO Market Cap is Rs 5559 Cr and P/E (x) is 45.63.
| KPI | Values |
|---|---|
| P/E (x) | 45.63 |
| Market Cap (₹ Cr.) | 5559 |
| Debt/Equity | 0.49 |
| EPS (Rs) | 6.18 |
| RoNW | 19.10% |
Objects of the Issue (ASK Automotive IPO Objectives)
ASK Automotive IPO Prospectus
ASK Automotive Limited Contact Details
ASK Automotive Limited
Flat No. 104, 929/1,
Naiwala,Faiz Road
Karol Bagh,New Delhi 110 005
Phone: +91 124 4396907
Email: compliance@askbrake.com
Website: https://askbrake.com/
ASK Automotive IPO Registrar
Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: askauto.ipo@linkintime.co.in
Website: https://linkintime.co.in/mipo/ipoallotment.html
ASK Automotive IPO FAQs
ASK Automotive IPO is a main-board IPO of 29,571,390 equity shares of the face value of ₹2 aggregating up to ₹834.00 Crores. The issue is priced at ₹268 to ₹282 per share. The minimum order quantity is 53 Shares.
The IPO opens on November 7, 2023, and closes on November 9, 2023.
Link Intime India Private Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in ASK Automotive IPO using UPI as a payment gateway. Zerodha customers can apply in ASK Automotive IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in ASK Automotive IPO through Zerodha
- Visit the Zerodha website and login to Console.
- Go to Portfolio and click the IPOs link.
- Go to the 'ASK Automotive IPO' row and click the 'Bid' button.
- Enter your UPI ID, Quantity, and Price.
- ‘Submit’ IPO application form.
- Visit the UPI App (net banking or BHIM) to approve the mandate.
The ASK Automotive IPO opens on November 7, 2023 and closes on November 9, 2023.
ASK Automotive IPO lot size is 53 Shares, and the minimum amount required is ₹14,946.
The finalization of Basis of Allotment for ASK Automotive IPO will be done on Wednesday, November 15, 2023, and the allotted shares will be credited to your demat account by Friday, November 17, 2023. Check the ASK Automotive IPO allotment status.
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