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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 ₹282.00 per share . The lot size for an application is 53. The minimum amount of investment required by an retail is ₹14,204 (53 shares). 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 Date | November 7, 2023 to November 9, 2023 |
| Listing Date | November 15, 2023 |
| Face Value | ₹2 per share |
| Issue Price Band | ₹268 to ₹282 per share |
| Issue Price Final | ₹282 per share |
| Lot Size | 53 Shares |
| Sale Type | Offer For Sale |
| Total Issue Size | 2,95,71,390 shares (aggregating up to ₹833.91 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Share Holding Post Issue | 19,71,42,600 shares |
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, 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 | Maximum 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%) |
ASK Automotive IPO raises ₹250.17 crore from anchor investors. ASK Automotive IPO Anchor bid date is November 6, 2023. ASK Automotive IPO Anchor Investors list
| Bid Date | November 6, 2023 |
| Shares Offered | 88,71,416 |
| Anchor Portion Size (In Cr.) | 250.17 |
| Anchor lock-in period end date for 50% shares (30 Days) | December 10, 2023 |
| Anchor lock-in period end date for remaining shares (90 Days) | February 8, 2024 |
ASK Automotive IPO opens on November 7, 2023, and closes on November 9, 2023.
| IPO Open Date | Tue, Nov 7, 2023 |
| IPO Close Date | Thu, Nov 9, 2023 |
| Tentative Allotment | Fri, Nov 10, 2023 |
| Initiation of Refunds | Fri, Nov 10, 2023 |
| Credit of Shares to Demat | Mon, Nov 13, 2023 |
| Tentative Listing Date | Wed, Nov 15, 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on Thu, Nov 9, 2023 |
Investors can bid for a minimum of 53 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| 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 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
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'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 |
| 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 market capitalization of ASK Automotive IPO is ₹5559.00 Cr.
| KPI | Values |
|---|---|
| Debt/Equity | 0.49 |
| RoNW | 19.10% |
[Dilip Davda] AAL is the largest manufacturer in India for brake-shoe and advanced braking systems and is the most preferred partner for 2W companies like HeroMotocorp, TVS, Bajaj, etc. It marked consistent growth in its top lines for the reported periods. It suffered a minor setback for FY22 in bottom lines in line with general global trends following the pandemic. Based on FY24 annualized earnings, the issue appears fully priced. Investors may park funds for the medium to long-term rewards in this long race horse. Read detail review...
| Listing Date | November 15, 2023 |
| BSE Script Code | 544022 |
| NSE Symbol | ASKAUTOLTD |
| ISIN | INE491J01022 |
| Final Issue Price | ₹282 per share |
| BSE Listing Group | B |
ASK Automotive Ltd.
Flat No. 104, 929/1,
Naiwala,Faiz Road
Karol Bagh,New Delhi 110 005
Karol Bagh, New Delhi
Phone: +91 124 4396907
Email: compliance@askbrake.com
Website: https://askbrake.com/
MUFG Intime India Pvt.Ltd.
Phone: +91-22-4918 6270
Email: askauto.ipo@linkintime.co.in
Website: https://linkintime.co.in/Initial_Offer/public-issues.html
ASK Automotive IPO is a main-board IPO of 2,95,71,390 equity shares of the face value of ₹2 aggregating up to ₹833.91 Crores. The issue is priced at ₹282 per share. The minimum order quantity is 53.
The IPO opens on November 7, 2023, and closes on November 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 November 7, 2023 and closes on November 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 Monday, November 13, 2023. Check the ASK Automotive IPO allotment status.
The ASK Automotive IPO listing date is on Wednesday, November 15, 2023.
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