ASK Automotive Sets IPO Price Band at ₹268-₹282

ASK Automotive Sets IPO Price Band at ₹268-₹282

VoM News Desk | November 2, 2023 | 06:55 PM IST | Breaking News | Follow on Google News

ASK Automotive Sets IPO Price Band at ₹268-₹282

ASK Automotive Sets IPO Price Band at ₹268-₹282

ASK Automotive, a leading company specializing in advanced braking systems, aluminum lightweighting precision solutions, wheel assembly for 2W OEMs, and safety control cables in both automotive and non-automotive sectors, is all set to launch its Initial Public Offering (IPO). The company has announced that its IPO will be available in the price band of ₹268 to ₹282 per equity share with a face value of ₹2.

IPO Subscription Window Opens from November 7 to November 9

The subscription window for the ASK Automotive IPO opens on Tuesday, November 7, and closes on Thursday, November 9, 2023. Anchor investors will have the opportunity to allocate their investments on Monday, November 6, just before the official launch.

The IPO floor price stands at 134 times the face value of the equity shares, while the cap price is set at 141 times the face value. Investors looking at the price-to-earnings ratio (P/E) will find it favorable, as it is 43.37 times for the floor price and 45.63 times for the cap price. The lot size for ASK Automotive IPO is 53 equity shares, and thereafter, investors can apply in multiples of 53 equity shares.

ASK Automotive has appointed prestigious names as the book running lead managers for the IPO, including 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: A Look at the Offer Details

The ASK Automotive IPO will consist of a total offer size of up to 29,571,390 equity shares, each with a face value of ₹2. The shares are being offered by Kuldip Singh Rathee, who will sell up to 20,699,973 equity shares, and Vijay Rathee, the promoter selling stockholder, who will sell up to 8,871,417 equity shares. The red herring prospectus, dated October 30, 2023, filed with the Registrar of Companies, will be used for this equity share issuance. These shares are proposed to be listed on both the NSE and BSE.

The allocation of shares in the public issue will be as follows: not more than 50% for Qualified Institutional Buyers (QIB), not less than 15% for Non-Institutional Investors (NII), and not less than 35% for Retail Investors. Don’t miss the opportunity to be a part of ASK Automotive’s exciting journey by subscribing to their IPO during the open subscription window!

Disclaimer: The opinions and suggestions provided in this article are those of individual analysts and do not reflect the viewpoints of VoM News. We encourage investors to consult with certified experts before making any investment choices.

ASK Automotive Sets IPO Price Band at ₹268-₹282:In case of rectification of any error in this Article, Visit on Correction Policy or Register your Query

VoM News Desk

VoM News is an online web portal in jammu Kashmir offers regional, National & global news.