ASK Automotive Limited IPO : All You Need to Know

ASK Automotive Limited IPO is set to launch on 7 November, 2023. The company initiated its business operations in the year 1988. The company is a manufacturer of Advanced Braking systems which are used in the two wheelers. The product portfolio of the firm includes Aluminium lightweight precision, AB Systems, Wheel assembly to 2W OEMs, Safety COntrol Cables etc. ASK has 15 manufacturing units in 5 states of the country. The supply of the company’s products are done to various firms like Bajaj, Yamaha, HMCL, TVS, HMSI, Suzuki, Royal Enfield, Magneti Marelli, Denso, etc. It functions in India as well as in the overseas markets.

ASK Automotive Limited IPO DETAILS

ASK Automotive Limited IPO is set to launch on 7 November, 2023. The subscription timeline extends till 9 November, 2023. The size for the IPO is 834 Crore Rs. Shares issued through fresh issue mode are worth Rs 834 Crore Rs. No shares are issued through offer for sale mode. The lot size is 53 shares and the price is 268 Rs to 282 Rs per share. The company is going to get listed at both NSE and BSE. The face value per share is Rs.2 and this is a Book Built issue. The registrar for the company is Link Intime India Private Limited.

Tabular Description of ASK Automotive Limited IPO 

ASK Automotive Limited IPO : IMPORTANT DATES

ASK Automotive Limited IPO begins for subscription from 7 November, 2023. The IPO subscription would continue till 9 November, 2023. The allotment status for the shareholders who applied would come on 15 November, 2023. The refunds for the ones who did not get allotment would be initiated on 16 November, 2023. The DEMAT accounts of shareholders would be credited on 17 November, 2023. The listing of the company would be completed on 20 November 2023.

ASK Automotive Limited IPO : Lead Managers

The lead managers are :

• ICICI Securities Limited
• JM Financial Limited
• IIFL Securities Limited
• Axis Capital Limited

The minimum lot size for the company is decided at 53 shares. This holding accounts to 14946 Rs.. The maximum lot size is decided at 689 shares. This amounts to 194298 Rs.. Hence the company’s final holdings would be set as :

OBJECTIVES FOR THE IPO

• IPO proceeds would be used for general corporate purposes.
• The company will use the IPO money for further working capital requirements.

COMPANY FINANCIALS

ASK Automotive Limited had an asset base of 948 Crore Rs in the year 2021. This increased to 1105 Crore Rs in the year 2022. The asset base of the firm was 1281 Crore Rs in the year 2023. The revenue of the firm was 1567 Crore Rs in the year 2021. This increased to 2024 Crore Rs in the year 2022 and became 2566 Crore Rs in the year 2023. The profit of the firm was 106 Crore Rs in the year 2021. This decreased to 82 Crore Rs in the year 2022. However again in the year 2023 the profit of the firm increased to 122 Crore Rs.

PROS

• The product portfolio of the firm includes Aluminium lightweight precision, AB Systems, Wheel assembly to 2W OEMs, Safety Control Cables etc. 
• ASK has 15 manufacturing units in 5 states of the country. 
• The supply of the company’s products are done to various firms like Bajaj, Yamaha, HMCL, TVS, HMSI, Suzuki, Royal Enfield, Magneti Marelli, Denso, etc. 
• It functions in India as well as in the overseas markets.

CONS

• The company works in a highly competitive segment.

ASK Automotive Limited IPO Application Process with Zerodha

It is very easy to apply for an IPO now if you have a DEMAT account with Zerodha. Follow the steps below for the same :

1. Logging into Zerodha console through its website or KITE platform. Clicking the IPO section present in the ORDER tab.
2. Click the ASK Automotive Limited IPO button and press the BID button.
3. Entering the details asked for like UPI ID, Quantity and price.
4. Submit the application form for the IPO.
5. Visiting the application of UPI for approving the transaction.

Now, applying for an IPO online is possible with most of the Discount and online brokers.