ASK Automotive share price up 5% as firm inks pact with Japan's Kyushu Yanagawa Seiki; check details

"Our legacy and expertise in aluminium lightweight precision solutions will support the development of high-pressure die casted alloy wheels for two-wheelers. Our partnership with KYSK will facilitate us with critical technical assistance and know-how, helping us meet the required standards and manufacture the best-in-class products for our identified customer," ASK Automotive Chairman and MD Kuldip Singh Rathee said.

ASK Automotive IPO and listing details

Shares of ASK Automotive were listed at an 8% premium on November 15, 2023. The stock debuted at ₹303.3 on the NSE and at ₹304.9 on the BSE against the issue price of ₹282.

The price band for the IPO, which opened on November 7 and closed on November 9, was fixed at ₹268-₹282 per share. The company raised ₹834 crore from the public issue.

The offer was entirely an offer-for-sale of 2.95 crore shares.

JM Financial Ltd, Axis Capital Ltd, ICICI Securities Ltd, and IIFL Securities Ltd were the book-running lead managers to issue.

ASK Automotive details

Gurugram-based ASK Automotive is one of the largest manufacturers of brake shoes and advanced braking systems for two-wheelers in India, with a market share of approximately 50% in fiscal 2022.

The firm supplies safety systems and critical engineering solutions with in-house designing, developing, and manufacturing capabilities.

Its offerings are powertrain agnostic, catering to electric vehicles (EVs) as well as internal combustion engine original equipment manufacturers.

The company has clients including TVS Motor Company Ltd, Hero MotoCorp, Greaves Electric Mobility, and Bajaj Auto.

Ask Automotive share price trend

Shares of the company have gained over 18% in the past 12 months.