Bookbuilding IPO | ₹834 Cr | Listed at BSE, NSE | Tue, Nov 7, 2023 - Thu, Nov 9, 2023
ASK Automotive IPO is a book build issue of ₹833.91 crores. The issue is entirely an offer for sale of 2.96 crore shares of ₹833.91 crore.
ASK Automotive IPO bidding started from Nov 7, 2023 and ended on Nov 9, 2023. The allotment for ASK Automotive IPO was finalized on Nov 10, 2023. The shares got listed on BSE, NSE on Nov 15, 2023.
ASK Automotive IPO price band is set at ₹282 per share. The lot size for an application is 53. The minimum amount of investment required by an retail is ₹14,946 (53 shares) (based on upper price). The lot size investment for sNII is 14 lots (742 shares), amounting to ₹2,09,244, and for bNII, it is 67 lots (3,551 shares), amounting to ₹10,01,382.
JM Financial Ltd. is the book running lead manager and MUFG Intime India Pvt.Ltd. is the registrar of the issue.
Refer to ASK Automotive IPO RHP for detailed Information.
IPO Open
Tue, Nov 7, 2023
IPO Close
Thu, Nov 9, 2023
Issue Price
₹282 per share
Market Cap (Pre-IPO)
₹5,559.00 Cr
| IPO Date | 7 to 9 Nov, 2023 |
| Listed on | Wed, Nov 15, 2023 |
| Face Value | ₹2 per share |
| Price Band | ₹268 to ₹282 |
| Issue Price | ₹282 per share |
| Lot Size | 53 Shares |
| Sale Type | OFS only |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Total Issue Size | 2,95,71,390 shares (agg. up to ₹834 Cr) |
| Offer for Sale | 2,95,71,390 shares of ₹2 (agg. up to ₹834 Cr) |
| Share Holding Post Issue | 19,71,42,600 shares |
| BSE Script Code / NSE Symbol | 544022 / ASKAUTOLTD |
| ISIN | INE491J01022 |
ASK Automotive IPO offers total 2,95,71,390 shares. Out of which 1,47,85,694 (50.00%) allocated to QIB, 59,14,278 (20.00%) allocated to QIB (Ex- Anchor), 44,35,709 (15.00%) allocated to NII 1,03,49,987 (35.00%) allocated to RII and 88,71,416 (30.00%) allocated to Anchor investors.
| Investor Category | Shares Offered | Max Allottees |
|---|---|---|
| QIB Shares Offered | 1,47,85,694 (50.00%) | NA |
| − Anchor Investor Shares Offered | 88,71,416 (30.00%) | NA |
| − QIB (Ex. Anchor) Shares Offered | 59,14,278 (20.00%) | NA |
| NII (HNI) Shares Offered | 44,35,709 (15.00%) | NA |
| − bNII > ₹10L | 29,57,139 (10.00%) | 3,985 |
| − sNII < ₹10L | 14,78,570 (5.00%) | 1,992 |
| Retail Shares Offered | 1,03,49,987 (35.00%) | 1,95,282 |
| Total Shares Offered | 2,95,71,390 (100.00%) |
Investors can bid for a minimum of 53 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 53 | ₹14,946 |
| Retail (Max) | 13 | 689 | ₹1,94,298 |
| S-HNI (Min) | 14 | 742 | ₹2,09,244 |
| S-HNI (Max) | 66 | 3,498 | ₹9,86,436 |
| B-HNI (Min) | 67 | 3,551 | ₹10,01,382 |
ASK Automotive IPO raises ₹250.17 crore from anchor investors. ASK Automotive IPO Anchor bid date is November 6, 2023.
📝 Anchor Investors Letter (PDF)
| Bid Date | Mon, Nov 6, 2023 |
| Shares Offered | 88,71,416 |
| Anchor Portion (₹ Cr.) | 250.17 |
| Anchor lock-in period end date for 50% shares (30 Days) | Sun, Dec 10, 2023 |
| Anchor lock-in period end date for remaining shares (90 Days) | Thu, Feb 8, 2024 |
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.
| 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 |
| Total Income | 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 | ||||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Achieve the benefits of listing the Equity Shares on the Stock Exchanges |
| KPI | |
|---|---|
| Debt/Equity | 0.49 |
| RoNW | 19.10% |
| PAT Margin | 4.79% |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 6.18 | |
| P/E (x) | 45.63 | 39.89 |
| Promoter Holding | 100% | |
| Market Cap | ₹5,559.00 Cr. |
The ASK Automotive IPO is subscribed 51.14 times on November 9, 2023 7:02:00 PM (Day 3). The public issue subscribed 5.7 times in the retail category, 142.41 times in the QIB category, and 35.47 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 142.41 | 59,14,278 | 84,22,28,565 |
| NII | 35.47 | 44,35,709 | 15,73,47,778 |
| bNII (bids above ₹10L) | 41.13 | 29,57,139 | 12,16,29,011 |
| sNII (bids below ₹10L) | 24.16 | 14,78,570 | 3,57,18,767 |
| Retail | 5.7 | 1,03,49,987 | 5,90,16,613 |
| Total | 51.14 | 2,06,99,974 | 1,05,85,92,956 |
Total Application : 11,53,021
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Book Running Lead Managers (“BRLMs”) fees and commissions (including underwriting commission, brokerage and selling commission) | 18.76 |
| 2 | Fees payable to the Registrar to the Offer | 0.24 |
| 3 | Selling commission/processing fee for Self-Certified Syndicate Banks (“SCSBs”) and Bankers to the Offer and fee payable to the Sponsor Banks for Bids made by Retail Individual Investors (“RIIs”) using Unified Payments Interface (“UPI”), Brokerage and selling commission and bidding charges for the Members of the Syndicate, Registered Brokers, Registrar and Share Transfer Agents (“RTAs”) and Collecting Depository Participant (“CDPs”) | 4.75 |
| 4 | Advertising and marketing expenses | 5.47 |
| 5 | Other expenses (i) Listing fees, Securities and Exchange Board of India (“SEBI”) filing fees, BSE Limited (“BSE”) and National Stock Exchange ofIndia Limited (“NSE”) processing fees, book building software fees, (ii) Other regulatory expenses, (iii) Printing and stationery expenses (iv) Fees payable to the legal counsel (v) Fees payable to other advisors to the Offer, including but not limited to Statutory Auditors, independent chartered accountant, industry expert, and | 20.47 |
| Price Details | BSE | NSE |
|---|---|---|
| Final Issue Price | ₹282.00 | ₹282.00 |
| Open | ₹304.90 | ₹303.30 |
| Low | ₹304.15 | ₹303.30 |
| High | ₹317.00 | ₹316.70 |
| Last Trade | ₹310.20 | ₹310.10 |
ASK Automotive IPO is a main-board IPO of 2,95,71,390 equity shares of the face value of ₹2 aggregating up to ₹834 Crores. The issue is priced at ₹282 per share. The minimum order quantity is 53.
The IPO opens on Tue, Nov 7, 2023, and closes on Thu, Nov 9, 2023.
MUFG Intime India Pvt.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 Zerodha IPO Application Process Review for more detail.
The ASK Automotive IPO opens on Tue, Nov 7, 2023 and closes on Thu, Nov 9, 2023.
ASK Automotive IPO lot size is 53, and the minimum amount required for application is ₹14,946.
You can apply in ASK Automotive IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for ASK Automotive IPO will be done on Friday, November 10, 2023, and the allotted shares will be credited to your demat account by Mon, Nov 13, 2023. Check the ASK Automotive IPO allotment status.
The ASK Automotive IPO listing date is on Wed, Nov 15, 2023.
