01-Nov-2023
2 mins read
The IPO date for ASK Automotive is November 7, 2023 to November 9, 2023. The issue pertains solely to the sale of 29,571,390 equity shares of Rs 2 each. Thanks to approval from the capital markets regulator SEBI, ASK Automotive Ltd. is now eligible to raise capital through an initial public offering (IPO).
ASK Automotive Limited Product Portfolio
Established in 1988, ASK Automotive Limited is a prominent Indian manufacturer specialised in producing Advanced Braking Systems for two-wheelers. The company’s diverse product portfolio comprises:
- AB systems.
- Lightweight precision aluminium components (ALP).
- Wheel assemblies for 2W OEMs.
- Safety control cables (SCC).
ASK Automotive operates both within India and on the international stage.
As of June 2023, ASK Automotive boasts an extensive network of 15 manufacturing units strategically located across five different states in India. The company is a trusted supplier to Original Equipment Manufacturers (OEMs) such as HMSI, HMCL, Suzuki, TVS, Yamaha, Bajaj, Royal Enfield, Denso, Magneti Marelli, and various others. Furthermore, it serves the independent aftermarket and exports its products to global markets via its geographically diverse manufacturing facilities.
It’s worth noting that ASK Automotive’s manufacturing facilities hold prestigious certifications in quality and safety, including IATF 16949:2016, ISO 9001:2015, ISO 14001:2015, and ISO 45001:2018, reflecting their commitment to world-class standards.
The Objectives of ASK Automotive Limited IPO
The selling shareholders will receive all offer proceeds, with no proceeds going to the company.
Financial Performance of ASK Automotive Limited IPO (In Crore)
| Period Ended | 30-Jun-23 | 31-Mar-23 | 31-Mar-22 | 31-Mar-21 |
| 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 | 106.2 |
| 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
| KPI | Values |
| P/E (x) | 45.63 |
| Market Cap (Rs in crore) | 5559 |
| Debt/Equity | 0.49 |
| EPS (Rs) | 6.18 |
| RoNW | 19.10% |
Important Details of ASK Automotive Limited IPO
| IPO Date | November 7, 2023 to November 9, 2023 |
| Listing Date | Yet to be announced |
| Face Value | Rs 2 per share |
| Price | Rs 268 to Rs 282 per share |
| Lot Size | 53 Shares |
| Total Issue Size | 29,571,390 shares (aggregating up to Rs 834.00 Cr) |
| Offer for Sale | 29,571,390 shares of Rs 2 each (aggregating up to Rs 834.00 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Shareholding pre issue | 197,142,600 |
| Shareholding post issue | 197,142,600 |
ASK Automotive Limited 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
| Application | Lots | Shares | Amount |
| Retail (Min) | 1 | 53 | Rs 14,946 |
| Retail (Max) | 13 | 689 | Rs 194,298 |
| S-HNI (Min) | 14 | 742 | Rs 209,244 |
| S-HNI (Max) | 66 | 3,498 | Rs 986,436 |
| B-HNI (Min) | 67 | 3,551 | Rs 1,001,382 |
ASK Automotive Limited IPO Promoter Holding
Kuldip Singh Rathee and Vijay Rathee are the promoters of the company.
| Shareholding Pre Issue | 100% |
| Shareholding Post Issue |
ASK Automotive Limited IPO Lead Manager(s)
The lead managers for ASK Automotive Limited IPO are Jm Financial Limited, Axis Capital Limited, ICICI Securities Limited and IIFL Securities Limited.
How to Apply for ASK Automotive Limited IPO
Wait for the public issue to open for subscription, then click on this link to apply for ASK Automotive Limited IPO with Bigul https://ipo.bonanzaonline.com/
How to Check the Allotment Status of ASK Automotive Limited IPO
The registrar for ASK Automotive Limited IPO is Link Intime India Private Ltd. To check your allotment status, please click on this link https://linkintime.co.in/
FAQs
- What is ASK Automotive Limited’s IPO?
ASK Automotive Limited IPO is a public offering where the company is selling its shares to the general public to get listed on stock exchanges.
- When is the IPO Date?
The specific IPO date is from November 7, 2023 to November 9, 2023.
- What will be the listing date of ASK Automotive Limited on the stock exchange?
The listing date is November 20, 2023
- What is the face value of the ASK Automotive Limited share?
The face value of each share is Rs 2.
- How many shares are being offered in this IPO?
The issue size of IPO is 29,571,390 shares.
- Where will ASK Automotive Limited be listed?
The shares will be listed on both BSE and NSE.
- What is the price of each share in the IPO?
The share price for the IPO is Rs 268 to Rs 282 per share.
- Who are the lead managers for the IPO?
The lead managers for the IPO are Jm Financial Limited, Axis Capital Limited, ICICI Securities Limited and IIFL Securities Limited.
- How can I apply for the ASK Automotive Limited IPO?
Once the public issue is open, you can apply for the IPO through this link: ASK Automotive Limited IPO on Bigul.
- How can I check my allotment status for the IPO?
The registrar for the IPO is Link Intime India Private Ltd. To check the allotment status, visit Link Intime.
- What is the primary objective of the ASK Automotive Limited IPO?
The company will not receive any proceeds from the offer, and all proceeds will go to the selling shareholders.
- What has been the financial performance of ASK Automotive Limited in the recent past?
Financial highlights include growth in net worth, total assets, total revenue, profit after tax and total borrowings from 2021 to 2023, as provided in the provided data. ASK Automotive’s revenue increased by 26.78%, and PAT grew by 48.75% between the financial year ending with March 31, 2023 and March 31, 2022.
- Who are the promoters of ASK Automotive Limited?
Kuldip Singh Rathee and Vijay Rathee are the promoters of the company.
- What is the significance of the reservations mentioned (QIB, Retail Shares, NII)?
These reservations signify the portion of the IPO allocated to different types of investors. For instance, QIBs (Qualified Institutional Buyers) will be offered no more than 50% of the Net Issue, retail investors will be offered not less than 35%, and Non-Institutional Investors (HNIs) will be offered not less than 15%.