ASK Automotive IPO To Open On 7th Nov: Price Band & Among 10 Things To Know

ASK Automotive Limited, an Indian company founded in 1988, produces advanced braking systems for two-wheelers. With its 15 production sites located across the country, ASK Automotive services OEMs including HMSI, HMCL, Suzuki, TVS, Yamaha, Bajaj, Royal Enfield, Denso, Magneti Marelli, and many more, as well as the independent aftermarket and export markets. With exports to twelve nations worldwide, ASK Automotive is honoured to be a part of the Government of India's "Made in India" campaign. The company is planning to raise funds via IPO which is going to open on November 7. Here are the 10 things to know about the ASK Automotive IPO.

ASK Automotive IPO Subscription Date: On Tuesday, November 07, 2023, ASK Automotive Limited will begin accepting bids and offers associated with its initial public offering of equity shares. The date of the anchor investor bid is set for Monday, November 6, 2023. The Bid/Offer subscription period will begin on Tuesday, November 07, 2023, and end on Thursday, November 09, 2023.

ASK Automotive IPO Price Band: The offer's price range for equity shares is set at Rs 268 to Rs 282. Bids can be placed for multiples of 53 equity shares following the minimum bid amount of 53 equity shares.

ASK Automotive IPO Lot Size: Retail investors must deposit a minimum of Rs 14,946 as the minimum lot size for the issue is 53 shares.

ASK Automotive IPO Size: The Rs 834.00 crore ASK Automotive IPO is a book-built offer. The offer for sale (OFS) of 2.96 crore shares and a new issuance of Rs 834.00 crore comprise this issue. Via offer for sale route, up to 20,699,973 equity shares by Kuldip Singh Rathee and up to 8,871,417 equity shares by Vijay Rathee ( promoters of the company) are included in the total offer size of up to 29,571,390 equity shares with a face value of Rs 2 each.

ASK Automotive IPO Reservation: Through the Book Building Process, the Offer is being made. Of the Offer, up to 50% may be allocated proportionately to Qualified Institutional Buyers (QIBs), and Promoter Selling Shareholders may allocate up to 60% of the QIB Portion to Anchor Investors after consulting with the BRLMs. Additionally, only mutual funds will be eligible for a proportionate allocation of 5% of the Net QIB Portion. The offer will be divided into two categories: 15% will go to Non-Institutional Investors (NII) and up to 35% will go to Retail Individual Investors.

ASK Automotive IPO Book Running Lead Managers: JM Financial Limited, Axis Capital Limited, ICICI Securities Limited and IIFL Securities Limited are the Book Running Lead Managers to the IPO.

ASK Automotive IPO Share Allotment Date: On Wednesday, November 15, 2023, the allotment for the ASK Automotive IPO is anticipated to be completed.

ASK Automotive IPO Listing Date: The proposed listing date for the ASK Automotive IPO on the BSE and NSE platforms is Monday, November 20, 2023.

ASK Automotive IPO Registrar: Link Intime India Private Ltd has been assigned as the registrar for the issue.

ASK Automotive IPO GMP: The ASK Automotive IPO's GMP has not yet commenced according to investorgain.com.