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ASK Automotive IPO is a book built issue of Rs 834.00 crores. The issue is entirely an offer for sale of 2.96 crore shares.
ASK Automotive IPO bidding started from November 7, 2023 and ended on November 9, 2023. The allotment for ASK Automotive IPO was finalized on Friday, November 10, 2023. The shares got listed on BSE, NSE on November 15, 2023.
ASK Automotive IPO price band is set at ₹268 to ₹282 per share. The minimum lot size for an application is 53 Shares. The minimum amount of investment required by retail investors is ₹14,946. The minimum lot size investment for sNII is 14 lots (742 shares), amounting to ₹209,244, and for bNII, it is 67 lots (3,551 shares), amounting to ₹1,001,382.
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.
| IPO Date | November 7, 2023 to November 9, 2023 |
| Listing Date | November 15, 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) |
| Offer for Sale | 29,571,390 shares of ₹2 (aggregating up to ₹834.00 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 offers 29,571,390 shares. 5,914,278 (20.00%) to QIB, 4,435,709 (15.00%) to NII, 10,349,987 (35.00%) to RII and 8,871,416 (30.00%) to Anchor investors. 195,282 RIIs will receive minimum 53 shares and 1,992 (sNII) and 3,985 (bNII) will receive minimum 742 shares. (in case of oversubscription)
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| Anchor Investor Shares Offered | 8,871,416 (30.00%) | NA |
| QIB Shares Offered | 5,914,278 (20.00%) | NA |
| NII (HNI) Shares Offered | 4,435,709 (15.00%) | |
| bNII > ₹10L | 2,957,139 (10.00%) | 3,985 |
| sNII < ₹10L | 1,478,570 (5.00%) | 1,992 |
| Retail Shares Offered | 10,349,987 (35.00%) | 195,282 |
| Total Shares Offered | 29,571,390 (100%) |
ASK Automotive IPO raises Rs 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 | 8,871,416 |
| 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 | Tuesday, November 7, 2023 |
| IPO Close Date | Thursday, November 9, 2023 |
| Basis of Allotment | Friday, November 10, 2023 |
| Initiation of Refunds | Friday, November 10, 2023 |
| Credit of Shares to Demat | Monday, November 13, 2023 |
| Listing Date | Wednesday, November 15, 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on November 9, 2023 |
Investors can bid for a minimum of 53 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| 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 |
| Lot Size Calculator | |||
| Share Holding Pre Issue | 100% |
| 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 |
| 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 | ||||
The market capitalization of ASK Automotive IPO is Rs 5559 Cr.
| KPI | Values |
|---|---|
| Debt/Equity | 0.49 |
| RoNW | 19.10% |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 6.18 | |
| P/E (x) | 45.63 | 39.89 |
[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...
The ASK Automotive IPO is subscribed 51.14 times on November 9, 2023 7:02:00 PM. The public issue subscribed 5.70 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) |
|---|---|
| QIB | 142.41 |
| NII | 35.47 |
| bNII (bids above ₹10L) | 41.13 |
| sNII (bids below ₹10L) | 24.16 |
| Retail | 5.70 |
| Total | 51.14 |
Total Application : 1,153,021 (5.90 times)
| Listing Date | November 15, 2023 |
| BSE Script Code | 544022 |
| NSE Symbol | ASKAUTOLTD |
| ISIN | INE491J01022 |
| Final Issue Price | ₹282 per share |
| Price Details |
|---|
| Final Issue Price |
| Open |
| Low |
| High |
| Last Trade |
| BSE |
|---|
| ₹282.00 |
| ₹304.90 |
| ₹304.15 |
| ₹317.00 |
| ₹310.20 |
| NSE |
|---|
| ₹282.00 |
| ₹303.30 |
| ₹303.30 |
| ₹316.70 |
| ₹310.10 |
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/
Link Intime India Private 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 29,571,390 equity shares of the face value of ₹2 aggregating up to ₹834.00 Crores. The issue is priced at ₹268 to ₹282 per share. The minimum order quantity is 53 Shares.
The IPO opens on November 7, 2023, and closes on November 9, 2023.
Link Intime India Private 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 Shares, and the minimum amount required is ₹14,946.
You can apply in ASK Automotive IPO online using either UPI or ASBA as 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 apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, 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.
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