ASK Automotive recently concluded its Initial Public Offering (IPO), raising a substantial Rs 834 crores through a complete offer for sale of 2.96 crore shares.
The IPO, which opened on November 7 and closed on November 9, featured a price band of Rs 268 to Rs 282 per share, with a minimum lot size of 53 shares requiring an investment of Rs 14,946 for retail investors.
The issue witnessed strong demand, particularly from Qualified Institutions, achieving an impressive subscription of 142.41 times. Non-Institutional Buyers also showed substantial interest, with a subscription of 35.47 times.
Retail Investors participated with a subscription of 5.70 times. Overall, the ASK Automotive IPO received a total subscription of 51.14 times, underscoring the market's keen interest in the offering.
ASK Automotive IPO Allotment Date
The allotment of shares for ASK Automotive IPO is expected to be finalised on Friday, November 10
*This is a tentative date and is subject to change.
ASK Automotive IPO Listing Date
ASK Automotive Limited is set to list on the stock exchanges (BSE & NSE) with a tentative listing date scheduled for Wednesday, November 15
*This is a tentative date and is subject to change.
Where To Check Allotment Status Of ASK Automotive IPO?
Investors can check the ASK Automotive IPO allotment status on the official website of registrar for IPO, Link Intime India Private Ltd and on the official website of BSE.
Subscription Status Of ASK Automotive IPO
Subscription Day 3:
Total Subscription: 51.14 times
Institutional investors: 142.41 times
Non-institutional investors: 35.47 times
Retail investors: 5.70 times
Subscription Day 2:
Total Subscription: 1.34 times
Institutional investors: 0.06 times or 6%
Non-institutional investors: 2.27 times
Retail investors: 1.68 times
Subscription Day 1:
Total Subscription: 0.38 times
Institutional investors: 0.03 times or 3%
Non-institutional investors: 0.41 times or 41%
Retail investors: 0.56 times or 56%
ASK Automotive IPO Issue Details
Total Issue Size: Rs 834.00 Crores
Face Value: Rs 2 per share
Offer for Sale Size: Rs 834.00 Crores
Shares for Offer for Sale: 29,571,390 shares
Price Band: Rs 268 to Rs 282 per share
Lot Size: 53 Shares
ASK Automotive IPO Timeline: (Tentative)
IPO Open Date: November 7
IPO Close Date: November 9
Basis of Allotment: November 10
Initiation of Refunds: November 10
Credit to Demat Account: November 10
Listing Date: November 15
About ASK Automotive Limited
ASK Automotive Limited, established in 1988, is a company in India that makes advanced braking systems for motorcycles. They produce a variety of products, including AB systems, lightweight precision aluminum parts, wheel assemblies for two-wheeler manufacturers, and safety control cables.
The company operates both in India and internationally, with 15 manufacturing units across five Indian states. ASK Automotive serves big names like Honda, Suzuki, TVS, Yamaha, Bajaj, Royal Enfield, and others. Besides supplying to original equipment manufacturers, they also cater to the independent aftermarket and export markets. The company's manufacturing facilities hold certifications for quality and safety, ensuring their products meet high standards.
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