ASK Automotive IPO is a prominent manufacturer in India, specializing in brake-shoes and advanced braking (AB) systems for two-wheelers (2W). In Fiscal 2023, they held an impressive market share of approximately 50% in terms of production volume for both original equipment manufacturers (OEMs) and the branded independent aftermarket (IAM), as reported by CRISIL.
The brand “ASK” is well-recognized and established as a leader in the 2W IAM segment in India, especially in terms of production volume for Fiscal 2023.
ASK Automotive offers a diverse range of products, which includes:
- AB Systems: Advanced braking systems for 2W.
- Aluminium Lightweighting Precision (ALP) Solutions: They are a significant player for 2W OEMs in India, holding a market share of 9% in Fiscal 2023, based on production volume (Source: CRISIL Report).
- Wheel Assembly: Supplying wheel assembly products to 2W OEMs.
- Safety Control Cables (SCC) Products: Providing products related to safety control cables.
ASK Automotive IPO Timeline
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 | Wednesday, November 15, 2023 |
| Initiation of Refunds | Thursday, November 16, 2023 |
| Credit of Shares to Demat | Friday, November 17, 2023 |
| Listing Date | Monday, November 20, 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on November 9, 2023 |
ASK Automotive IPO Lot Size
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 |
About the Issue
ASK Automotive IPO is set to be a significant book-built issue with a total value of Rs 834.00 crores. This IPO consists of two components:
- Fresh Issue: The company plans to raise Rs 834.00 crores through a fresh issue of shares.
- Offer for Sale: In addition to the fresh issue, there is an offer for sale of 2.96 crore shares.
The subscription for ASK Automotive IPO will be open for investors from November 7, 2023, to November 9, 2023. The allotment of shares is expected to be finalized by Wednesday, November 15, 2023. The listing of ASK Automotive IPO on the BSE and NSE is tentatively scheduled for Monday, November 20, 2023.
The price band for ASK Automotive IPO is set at ₹268 to ₹282 per share. Investors should note that the minimum lot size for an application is 53 shares. Retail investors are required to invest a minimum amount of ₹14,946. For sNII, the minimum lot size investment is 14 lots (742 shares), equivalent to ₹209,244, and for bNII, it’s 67 lots (3,551 shares), amounting to ₹1,001,382.
ASK Automotive Limited Financials
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 |
ASK Automotive IPO Registrar
Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: askauto.ipo@linkintime.co.in
Website: https://linkintime.co.in
Company Address
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/
ASK Automotive IPO FAQs
What is ASK Automotive IPO?
ASK Automotive IPO is a main-board IPO. They are going to raise ₹834 Crores via IPO. The issue is priced at ₹268 to ₹282 pr equity share. The IPO is to be listed on BSE & NSE.
When ASK Automotive IPO will open?
The IPO is to open on November 7, 2023 for QIB, NII, and Retail Investors.
What is ASK Automotive IPO Investors Portion?
The investors’ portion for QIB is 50%, NII is 15%, and Retail is 35%
How to Apply the ASK Automotive IPO through Zerodha?
Steps to apply in ASK Automotive IPO through Zerodha
- Visit the Zerodha website and login to Console.
- Go to Portfolio and click the IPOs link.
- Go to the ‘ASK Automotive IPO’ row and click the ‘Bid’ button.
- Enter your UPI ID, Quantity, and Price.
- ‘Submit’ IPO application form.
- Visit the UPI App (net banking or BHIM) to approve the mandate.