ASK Automotive IPO opens on November 7, price band set at ₹268-282 per share
ASK Automotive IPO price band fixed at ₹268-282 per equity share. Subscription opens on Nov 7 and closes on Nov 9. Allocation to anchor investors scheduled for Nov 6.
ASK Automotive IPO price band has been fixed in the range of ₹268 to ₹282 per equity share of face value of ₹2. ASK Automotive IPO opens for subscription on Tuesday, November 7, and closes on Thursday, November 9. The allocation to anchor investors for ASK Automotive IPO is scheduled to take place on Monday, November 6.
The floor price is 134 times the face value of the equity shares and the cap price is 141 times the face value of the equity shares. The price to earning ratio based on diluted EPS for fiscal 2023 at the floor price is 43.37 times and at the cap price is 45.63 times. ASK Automotive IPO lot size is 53 equity shares and in multiples of 53 equity shares thereafter.
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ASK Automotive Ltd specialises in advanced braking systems, aluminium lightweighting precision solutions, wheel assembly of 2W OEMs, and safety control cables, serving both the automotive and non-automotive sectors.
The offer's book running lead managers are JM Financial Limited, Axis Capital Limited, ICICI Securities Limited, and IIFL Securities Limited. Link Intime India Private Ltd is the registrar for the issue.
ASK Automotive IPO details
The total offer size of up to 29,571,390 equity shares with a face value of ₹2 each is being offered by Kuldip Singh Rathee up to 20,699,973 equity shares and Vijay Rathee (promoter selling stockholders) up to 8,871,417 equity shares. The red herring prospectus of the company, dated October 30, 2023, filed with the Registrar of Companies, is being used to issue these equity shares, and the shares are proposed to be listed on NSE and BSE.
ASK Automotive IPO has reserved not more than 50% of the shares in the public issue for Qualified Institutional Buyers (QIB), not less than 15% for Non Institutional Investors (NII), and not less than 35% of the offer is reserved for Retail Investors.
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