ASK Automotive IPO Date, GMP, Price, Analysis and Review
ASK Automotive Limited, Incorporated in 1988, is a prominent manufacturer of Advanced Braking Systems for two-wheelers in India. The company offers a diverse product range, including AB systems, lightweight precision aluminum (ALP), wheel assembly for 2W OEMs, and safety control cables (SCC). ASK Automotive operates not only in India but also in international markets.
As of June 2023, the company boasts 15 state-of-the-art manufacturing units located in five Indian states. ASK Automotive serves Original Equipment Manufacturers (OEMs) such as HMSI, HMCL, Suzuki, TVS, Yamaha, Bajaj, Royal Enfield, Denso, Magneti Marelli, and others. Additionally, it caters to the independent aftermarket and export markets through its strategically located manufacturing facilities.
The company takes pride in its world-class certifications for quality and safety, including IATF 16949:2016, ISO 9001:2015, ISO 14001:2015, and ISO 45001:2018.
Objects of the Issue (ASK Automotive IPO Objectives)
The company will not receive any proceeds from the IPO, and all the funds raised through the offer will be received by the Selling Shareholders. These proceeds will be distributed in proportion to the number of Offered Shares sold by each respective Selling Shareholder as part of the IPO.
ASK Automotive IPO Details
The ASK Automotive IPO is a book-built issue with a total worth of Rs 834.00 crores. This IPO consists of a fresh issue of Rs 834.00 crore and an offer for sale of 2.96 crore shares.
IPO Date | November 7, 2023 to November 9, 2023 |
Listing Date | November 20, 2023 |
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 |
DRHP Draft Prospectus: | Click Here |
RHP Draft Prospectus: | Click Here |
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 Lot Size
Investors can bid in lots of 53 shares or multiples thereof. See the table for minimum and maximum investments for retail and HNI investors in shares and amounts.
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 Dates
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 Limited Financial Report
ASK Automotive Limited’s revenue grew by 26.78%, and its profit after tax (PAT) increased by 48.75% between the financial years ending on 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 |
Key Performance Indicator of ASK Automotive Ltd
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% |
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 | – |
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
What is ASK Automotive IPO?
ASK Automotive IPO is a main-board IPO offering 29,571,390 equity shares with a face value of ₹2, aggregating up to ₹834.00 Crores. The issue price ranges from ₹268 to ₹282 per share, and the minimum order quantity is 53 shares. The IPO is open for subscription from November 7, 2023, to November 9, 2023. Link Intime India Private Ltd is the registrar for the IPO, and the shares are proposed to be listed on BSE and NSE.
How to apply for ASK Automotive IPO through Zerodha?
Zerodha customers can apply for ASK Automotive IPO online using the UPI payment gateway. To apply, log in to Zerodha Console (back office) and submit an IPO application form following these steps:
1. Visit the Zerodha website and log in to Console.
2. Go to the Portfolio section and click on the IPOs link.
3. Find the ‘ASK Automotive IPO’ row and click the ‘Bid’ button.
4. Enter your UPI ID, quantity, and price.
5. ‘Submit’ the IPO application form.
6. Visit the UPI app (net banking or BHIM) to approve the mandate.
When does ASK Automotive IPO open?
The ASK Automotive IPO is open for subscription from November 7, 2023, to November 9, 2023.
What is the lot size of ASK Automotive IPO?
The lot size for ASK Automotive IPO is 53 shares, and the minimum amount required to apply is ₹14,946.
How can I apply for ASK Automotive IPO?
You can apply for ASK Automotive IPO online using either the UPI or ASBA payment method. ASBA IPO application is available through the net banking of your bank account. UPI IPO application is offered by brokers that do not provide banking services. For more details on how to apply, you can read about applying for IPOs online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank, and SBI Bank.
When will ASK Automotive IPO allotment be done?
The Basis of Allotment for ASK Automotive IPO will be finalized on Wednesday, November 15, 2023, and the allotted shares will be credited to your demat account by Friday, November 17, 2023. You can check the ASK Automotive IPO allotment status.
When is the ASK Automotive IPO listing date?
The listing date for the ASK Automotive IPO has not been announced yet, but it is tentatively scheduled for Monday, November 20, 2023.