ASK Automotive IPO To Open Tomorrow: Know Price Band, GMP, Important Dates, And Other Details Here

ASK Automotive IPO: The initial public offering (IPO) of ASK Automotive will open for subscription on Tuesday (November 7). The three-day public issue will close for subscription on November 9. ASK Automotive shares are likely to get listed on Indian bourses on November 20. The price band of ASK Automotive IPO has been fixed between Rs 268-282 per equity share. Anchor investors will place their bids for the IPO of ASK Automotive today i..e Monday.

The company wants to raise around Rs 834 crore from the public issue.

Ahead of the issue opening, shares of ASK Automotive are available at a premium of Rs 40 in the unlisted market.

Here are key things you should know about ASK Automotive IPO:

Issue Size:

The issue is entirely an offer for sale (OFS) of 2.95 crore equity shares and does not include any fresh issue component. Under the OFS, promoters Kuldip Singh Rathee and Vijay Rathee will sell 2.06 crore shares and 88.7 lakh shares, respectively.

Currently, Kuldip Singh Rathee holds a 41.33% stake in ASK Automotive, while Vijay has a 32.3% stake in the company.

Since the issue is entirely an OFS and there is no fresh issue component, the entire IPO proceeds, except the IPO expenses, will be received by the selling shareholders and the company will not receive any funds from the offer.

Minimum investment amount in ASK Automotive IPO:

Investors can place bids for a minimum of 53 shares and in multiples thereafter. 1 lot consists of 53 shares, this means the minimum investment amount in the IPO is Rs 14,946. According to IPOWatch website, retail investors can apply for up to 13 lots with 689 shares or Rs 194,298 amount. Approximately 50% of the net offer is reserved for qualified institutional buyers (QIBs), 35% for retail investors, and the remaining 15% is allotted to non-institutional investors (NIIs).

About ASK Automotive:

ASK Automotive Gurugram-based company which claims to be one of the largest manufacturers of brake-shoe and advanced braking (AB) systems for two-wheelers in India with a market share of approximately 50% in fiscal 2022.
ASK Automotive serves OEMs such as HMSI, HMCL, Suzuki, TVS, Yamaha, Bajaj, Royal Enfield, Denso, Magneti Marelli, and many more, OES, independent aftermarket and export markets through its 15 manufacturing facilities spread across the nation.

ASK Automotive IPO Important dates:

The IPO of ASK Automotive will open for subscription on November 9, while the public issue will conclude on November 10. The ASK Automotive IPO share allotment is expected to be finalized on November 15. ASK Automotive shares are likely to get listed on Indian bourses on November 20.

ASK Automotive IPO Latest GMP:

According to market observers, the ASK Automotive IPO GMP or Grey Market Premium today is Rs 40.