About ASK Automotive Limited
Incorporated in 1988, ASK Automotive Limited is India’s largest manufacturer of brake-shoe and advanced braking (AB) systems for two-wheelers. Other than brakes, it is involved in the design, development and manufacturing of aluminium lightweight precision (ALP) solutions, wheel assembly for OEMs, and safety control cables (SCC) products.
These products are used in the automotive sector for two-wheelers, three-wheelers, passenger vehicles and commercial vehicles and cater to the electric vehicle (EV) and internal combustion engine (ICE) OEMs. They are also used in the non-automotive sector for all-terrain vehicles, power tools and outdoor equipment.
In FY23, the company had a market share of approximately 50% in terms of the production volume for original equipment manufacturers (OEMs) and the branded independent aftermarket (IAM).
As of 30 June 2023, the company operates 15 manufacturing facilities located in five states in India in close proximity to OEM customers. One new manufacturing facility became operational in July 2023 in Rajasthan and another one is proposed to be developed in Karnataka.
It supplies its products to all of the top six two-wheeler manufacturers in India, including TVS, Ather, Hero MotoCorp, Greaves, Bajaj Auto and Revolt. It also caters to overseas customers like UFI Filters, Federal-Mogul, FDP Virginia Inc., Stanley Black & Decker, Polaris and MTD Products.
Between FY21 and FY23, the company saw a CAGR rise of 18% in its revenue from operations and 5% in its profit. Moreover, its products are supplied to top automakers in India, which is the largest 2W market in the world, with domestic sales of 16.25 million units in FY23. All of this could be beneficial for the company.
And now, ASK Automotive Limited is coming out with its initial public offer (IPO). The entire IPO will be an offer for sale. The money raised through this IPO will be received by the selling shareholders. Its shares will be listed on the NSE and the BSE.
Here are key details about the ASK Automotive IPO:
Here’s a quick look at ASK Automotive Limited IPO’s strengths, weakness, opportunities and risks (SWOT analysis)
Strengths and opportunities
Risks and threats
ASK Automotive Limited IPO details
|ASK Automotive Limited IPO date
According to the offer document filed by the company with the SEBI, the ASK Automotive IPO’s opening date – in other words, the ASK Automotive IPO launch date – will be 7th November 2023. The ASK Automotive IPO closing date is 9th November 2023. After this, investors will be updated about the allotment status on 15th November 2023.
Investors, who have been allotted shares, can expect them to be credited to their demat account on 17th November 2023. The ASK Automotive IPO listing date is 20th November 2023. The listing date is the date on which the shares of a company get listed on the bourses – NSE and BSE.
|ASK Automotive Limited IPO Price Band
The entire IPO is an offer for sale. The ASK Automotive IPO price band has been set between ₹268 and ₹282 per share. Interested investors can choose a price within this band to apply for the IPO.
The ASK Automotive IPO listing price will be determined on 20th November 2023. The listing price is the price at which a company’s shares debut on the stock exchanges.
|ASK Automotive Limited IPO Lot size
The ASK Automotive IPO details have been declared. The ASK Automotive IPO lot size is set at 53 shares and an investor can apply for a minimum of 1 lot. Meanwhile, the ASK Automotive IPO issue size is approx ₹834 crore.
How to pre-apply for the ASK Automotive Limited IPO?
You can pre-apply for the ASK Automotive Limited IPO on Upstox. The pre-application for this IPO, which means pre-apply open date, usually begins a day before the IPO opens for subscription.
Follow these steps to pre-apply for the IPO:
How to apply for the ASK Automotive Limited IPO?
If you are interested in this investment opportunity but unsure how to apply for the ASK Automotive Limited IPO, here we are listing out the steps for you.
When the public issue opens for subscription, one can follow this step-by-step guide on how to apply for the ASK Automotive Limited IPO on Upstox:
How to check the ASK Automotive LimitedIPO allotment status?
When the allotment process is completed, you can check the status of your application on the Upstox app. Share allotment is generally done around five to six days after an IPO closes.
Here’s a step-by-step guide on how to check the ASK Automotive Limited IPO allotment status:
Open a demat account with Upstox to apply for the ASK Automotive Limited IPO
To apply for the ASK Automotive Limited IPO, you need to mandatorily have a demat account. A demat account helps you hold the shares you buy in a dematerialised format. If you don’t have a demat account yet, you can open one with Upstox by visiting our website or by downloading the app.
Here is a step-by-step guide on how to open a demat account with Upstox:
This is all it takes to open a demat account with Upstox. Easy and quick, right?
Upstox – trading app to apply for the ASK Automotive Limited IPO
Applying for IPOs with Upstox is extremely easy. The user-friendly interface and top-notch security make Upstox one of the leading trading apps in India.
You can apply for the ASK Automotive Limited IPO on Upstox, provided you have a demat account. As mentioned in the previous section, you can simply follow the steps to open a demat account with Upstox. The biggest advantage is that when you apply for an IPO using your Upstox account, the brokerage charges are zero.
In fact, courtesy of its robust features and minimal charges, Upstox is among the most preferred trading apps. Lakhs of Indians trust Upstox as it is a reliable trading platform that makes IPO applications easy.
Pre-applying for the ASK Automotive IPO means applying for this public issue before it goes live. Click here to pre-apply for the ASK Automotive IPO on Upstox.
You can pre-apply for the ASK Automotive IPO from 04 November 2023. Once the IPO goes live, you will receive a UPI mandate. Accept this to block the IPO application amount and successfully place your bid.
You can apply on Upstox’s website and app, once the ASK Automotive IPO opens for the subscription.
The ASK Automotive IPO launch date is 7th November 2023. The ASK Automotive IPO will be open for subscription till 9th November 2023.
The ASK Automotive lot size is 53 shares and the minimum investment required is ₹14,946.
The ASK Automotive IPO price band is ₹268 – ₹282 per share.
The size of the ASK Automotive IPO is approx. ₹834 crore.
You can place up to three bids for an application.
No, the bids have to be placed in one go. If you want to add an additional bid, then you would have to delete your application and re-apply.
If shares are allotted, then they will be credited to your demat account on 17th November 2023.
ASK Automotive shares will be on NSE and BSE.
ASK Automotive shares’ listing date is 20th November 2023.