The ASK Automotive date has been confirmed from November 7 and ended on November 9
ASK Automotive IPO plans to raise about 29,571,390 equity shares through the sale of up to 29,571,390 shares at a price of 2 apiece. HNI is 15%, QIB is 50%, and the retail share is 35%.
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Bidding Dates
November 7 – 9
Price Range
₹268 to ₹282 per share
Face Value
₹2 per share
GMP
₹28
ASK Automotive GMP
The Cello World Limited IPO GMP is ₹[28].
IPO Overview
One of the largest manufacturers of brake shoes and advanced braking (“AB“) systems for two-wheelers (“2W“) in India, ASK Automotive Limited has a market share of approximately 50% in Fiscal 2023 when it comes to production volume for original equipment manufacturers (“OEMs“) and the branded independent aftermarket (“IAM“) combined (Source: CRISIL Report). In terms of production volume for Fiscal 2023 in India, their brand “ASK” is acknowledged as the top brand in the 2W IAM. The range of products offered by ASK Automotive
as follows: (i) ABsystems; (ii) aluminum lightweighting precision (“ALP“) solutions, in which we are a leading player for 2W OEMs in India, holding a 9% market share in terms of production volume in Fiscal 2023 (Source: CRISIL Report); (iii) wheel assembly to 2W OEMs; and (iv) safety control cables (“SCC“) products.
They operate sixteen production facilities throughout five Indian states. TVS Motor Company Limited (“TVS“), Ather Energy Private Limited (“Ather“), Hero MotoCorp Limited (“Hero MotoCorp“), Greaves Electric Mobility Private Limited (“Greaves“), Bajaj Auto Limited (“Bajaj“), and Revolt Intellicorp Private Limited (“Revolt“) are among the 2W EV OEMs in India that receive supplies from ASK Automotive.
ASK Automotive IPO Date & Price Band Details
| IPO Open: | November 7, 2023 |
| IPO Close: | November 9, 2023 |
| IPO Size: | 29,571,390 equity shares |
| Offer for Sale: | Approx 29,571,390 shares |
| Face Value: | ₹2 Per Equity Share |
| IPO Price Band: | ₹268 to ₹282 |
| IPO Listing on: | BSE & NSE |
| Retail Quota: | 35% |
| QIB Quota: | 50% |
| NII Quota: | 15% |
| Discount: | N/A |
ASK Automotive IPO Market Lot
The ASK Automotive IPO minimum market lot is [.] shares with ₹[.] application amount. Retail investors can apply for up to 13 lots with [.] shares or ₹[.] amount.
| Application | Lot Size | Shares | Amount |
| Retail Minimum | 1 | – | ₹- |
| Retail Maximum | 13 | – | ₹- |
| S-HNI Minimum | 14 | – | ₹- |
| B-HNI Minimum | 68 | – | ₹- |
ASK Automotive IPO Allotment & Listing Dates
The ASK Automotive IPO date is November 7 and the close date is November 9. The ASK Automotive IPO allotment will be finalized on November 15 and the IPO listing on November 20.
| Anchor Investors Allotment: | November 6, 2023 |
| IPO Open Date: | November 7, 2023 |
| IPO Close Date: | November 9, 2023 |
| Basis of Allotment: | November 15, 2023 |
| Refunds: | November 16, 2023 |
| Credit to Demat Account: | November 17, 2023 |
| IPO Listing Date: | November 20, 2023 |
ASK Automotive Company Financial Report
| Year (₹ in Crores) | Revenue | Expense | PAT |
| 2021 | ₹1568 | ₹1420 | ₹106.20 |
| 2022 | ₹2024 | ₹1906 | ₹82.66 |
| 2023 | ₹2566 | ₹2391 | ₹122.95 |
| 2024 3M | ₹658 | ₹612 | ₹34.83 |
ASK Automotive IPO Valuation – FY2023
| Earning Per Share (EPS): | ₹6.18 per Equity Share |
| Price/Earning P/E Ratio: | N/A |
| Return on Net Worth (RoNW): | 19.10% |
| Net Asset Value (NAV): | ₹32.66 per Equity Share |
Company Profile
ASK Automotive Limited Established in 1988, ASK Automotive Limited is a renowned auto ancillary company that specializes in the production of Advance Braking Systems (AB) for various types of vehicles. With an impressive market share of approximately 50% for FY2023 in terms of production volume, ASK Automotive serves both original equipment manufacturers (“OEMs”) and the branded independent aftermarket (“IAM”). Notably, ASK Automotive has established itself as the leading 2-wheeler branded independent aftermarket (IAM) in India, in terms of production volume as of FY2023.
The company offers a diverse range of products, including AB systems, aluminium lightweighting precision (“ALP”) solutions, wheel assembly for 2W OEMs, and safety control cables (“SCC”) products. These high-quality offerings are utilized in two and three-wheelers, passenger vehicles, commercial vehicles, as well as non-automotive sectors such as all-terrain vehicles (“ATVs”), power tools, and outdoor equipment.
Registrar Info
| Name | LINK INTIME INDIA PRIVATE LIMITED |
| Phone number | +91 810 811 4949 |
| Email ID | askauto.ipo@linkintime.co.in |
| Website | linkintime.co.in |
Contact Details
| Name | ASK Automotive Limited |
| Phone number | +91 124 439 6907 |
| Email ID | compliance@askbrake.com |
| Website | https://www.askbrake.com |
IPO Strenghts
- Experienced promoters and a competent management team.
- Well-established relationships with a loyal customer base.
- Access to markets worldwide, enabling global reach.
IPO Weakness
- Heavy reliance on customers based in the United States.
- Need to adhere to multiple laws and regulations in these countries to ensure compliance.
- Competition from other players in the market.
