ASK Automotive IPO is a book built issue of 2.96 crore shares. The issue is entirely an 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 bands are yet to be announced.
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 | [20 NOVEMBER 2023.] |
| Face Value | ₹2 per share |
| Price | [.] to [.] per share |
| Lot Size | |
| Total Issue Size | 29,571,390 shares (aggregating up to ₹[.] 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 Promoter Holding
The promoters of the company are Kuldip Singh Rathee and Vijay Rathee.
| 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
| KPI | Values |
|---|---|
| Debt/Equity | 0.49 |
| EPS (Rs) | 6.18 |
| RoNW | 19.10% |
Check ASK Automotive IPO Peer Comparison here.
Objects of the Issue (ASK Automotive IPO Objectives)
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 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