What you must know about ASK Automotive IPO?
by 5paisa Research Team
03 Nov 2023
ASK Automotive IPO Details
- Open Date 07-Nov-23
- Close Date 09-Nov-23
- Lot Size 53
- IPO Size ₹ 833.91 Cr
- IPO Price Range ₹ ₹ 268 to ₹ 282
- Min Investment ₹ 14204
- Listing Exchange BSE, NSE
- Basis of Allotment 15-Nov-23
- Refunds 16-Nov-23
- Credit to Demat Account 17-Nov-23
- Listing Date 20-Nov-23
ASK Automotive IPO Subscription Status
| Date | QIB | NII | Retail | TOTAL |
|---|---|---|---|---|
| 07-Nov-23 | 0.03 | 0.41 | 0.57 | 0.38 |
| 08-Nov-23 | 0.06 | 2.28 | 1.69 | 1.35 |
| 09-Nov-23 | 142.41 | 35.47 | 5.70 | 51.14 |
ASK Automotive IPO Synopsis
ASK Automotive Limited IPO is all set to open from 7th November to 9th November 2023. The company is engaged in the business of producing Advance Braking Systems. The IPO includes an Offer for Sale (OFS) of 29,571,390 equity shares worth around ₹834 cr. The share allotment date is 15th November, and the IPO will be listed on 20th November on the stock exchanges. The price band is ₹268 to ₹282 per share and the lot size is 53 shares.
JM Financial Limited, Axis Capital Limited, ICICI Securities Limited, and IIFL Securities Limited are the book-running lead managers for this IPO, while Link Intime India Private Limited is the registrar.
Objectives of ASK Automotive IPO:
The company will not receive any proceeds. The entire Offer Proceeds will be received by the Selling Shareholders.
ASK Automotive IPO Video:
About ASK Automotive
Established in 1988, ASK Automotive Limited is an auto ancillary company. It produces Advance Braking Systems (AB) used in different types of vehicles. The company has an impressive market share of about 50% for FY2023 in terms of production volume, serving both original equipment manufacturers ("OEMs") and the branded independent aftermarket ("IAM"). ASK Automotive is renowned for being the leading 2-wheeler branded independent aftermarket (IAM) with respect to production volume as of FY2023 in India.
Its diversified offerings include (i) AB systems; (ii) aluminium lightweighting precision (“ALP”) solutions (iii) wheel assembly to 2W OEMs (iv) safety control cables (“SCC”) products. These products are used in two and three-wheelers, passenger vehicles, commercial vehicles, non-automotive sectors for all-terrain vehicles (“ATVs”), and power tools and outdoor equipment.
The company has 15+ manufacturing facilities spread across five states in India and works with some popular auto brands such as TVS, Bajaj, Yamaha, Royal Enfield, and more.
Peer Comparison
● Endurance Technologies Limited
● Uno Minda Limited
● Suprajit Engineering Limited
● Bharat Forge Limited
For More Information:
Webstory on ASK Automotive IPO
ASK Automotive Financial Status
Profit and Loss
Balance Sheet
| Particulars (in Rs. Crores) | FY23 | FY22 | FY21 |
|---|---|---|---|
| Revenue from operations (interest income) | 2555.16 | 2013.08 | 1543.99 |
| EBITDA | 247.54 | 182.25 | 210.11 |
| PAT | 122.95 | 82.65 | 106.20 |
| Particulars (in Rs. Crores) | FY23 | FY22 | FY21 |
|---|---|---|---|
| Total Assets | 1281.20 | 1105.56 | 948.25 |
| Share Capital | 39.42 | 40.18 | 40.69 |
| Total Borrowings | 637.43 | 473.65 | 326.02 |
| Particulars (in Rs. Crores) | FY23 | FY22 | FY21 |
|---|---|---|---|
| Net cash generated from / (used in) operating activities | 138.58 | 144.21 | 127.95 |
| Net cash from / (used in) investing activities | -160.86 | -79.96 | -6.02 |
| Net cash flow from / (used in) financing activities | 23.20 | -81.48 | -106.76 |
| Net increase (decrease) in cash and cash equivalents | 0.92 | -17.22 | 15.17 |
ASK Automotive IPO Key Points
-
Strengths
1. The company is a well-established manufacturer of safety systems and critical engineering solutions and provides solutions to some largest OEMs in the country.
2. R&D-led production with a focus on customer satisfaction and advanced material knowledge for customization.
3. The company also has a technology and innovation-driven manufacturing process, along with a comprehensive solution suite for EV and ICE sectors.
4. It has long-standing customer relationships with Indian and global OEM players.
5. The company also has showcased healthy financial metrics.
6. The management team and board are quite experienced. -
Risks
1. 80% of the company’s revenues come from the Indian two-wheeler automotive sector.
2. The top three customers contribute significantly to the revenue.
3. The availability of counterfeit products and a failure to keep the technical knowledge confidential may have adverse effects on the business.
4. The company relies on third-party dealers to market, sell and deliver products in the independent aftermarket (“IAM”) category.
5. The company's manufacturing facilities are based in only Haryana, which creates geographical concentration.
6. ASK Fras-Le Friction Private Limited, the company’s Joint venture has incurred losses in the past.
7. Its subsidiary has a negative net worth and may not be able to turn profitable in the future.
8. Higher working capital and working expenditure requirements.
9. Exposed to foreign exchange rate fluctuations.
ASK Automotive
How to apply for IPO?
-
Login to your 5paisa account and select the issue in the
current IPO section -
Enter the number of lots and price at which you wish to
apply for -
Enter your UPI ID and click on submit. With this, your
bid will be placed with the exchange -
You will receive a mandate notification to block funds in
your UPI app -
Approve the mandate request on your UPI and funds
will be blocked
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ASK Automotive IPO FAQs
What is the minimum lot size and investment required for the ASK Automotive IPO?
The minimum lot size of ASK Automotive IPO is 53 shares and the investment required is ₹14,204.
What is the price band of ASK Automotive IPO?
The price band of ASK Automotive IPO is ₹268 to ₹282.
When does the ASK Automotive IPO opens and closes?
ASK Automotive IPO is open from 7th November to 9th November 2023.
What is the size of the ASK Automotive IPO?
The size of ASK Automotive IPO is around ₹834.00 cr.
What is the allotment date of the ASK Automotive IPO?
The share allotment date of ASK Automotive IPO is 15th of November 2023.
What is the ASK Automotive IPO listing date?
The ASK Automotive IPO will be listed on the 20th of November 2023.
Who are the book runners for the ASK Automotive IPO?
JM Financial Limited, Axis Capital Limited, ICICI Securities Limited, and IIFL Securities Limited are the book-running lead managers for ASK Automotive IPO.
What is the objective of ASK Automotive IPO?
The company will not receive any proceeds. The entire Offer Proceeds will be received by the Selling Shareholders.
How to apply for the ASK Automotive IPO?
To apply for ASK Automotive IPO, follow the steps given below:
● Login to your 5paisa account and select the issue in the current IPO section
● Enter the number of lots and the price at which you wish to apply for the ASK Automotive IPO.
● Enter your UPI ID and click on submit. With this, your bid will be placed with the exchange.
● You will receive a mandate notification to block funds in your UPI app.
Contact Details of ASK Automotive IPO
Contact Information
ASK Automotive Limited
Flat No. 104, 929/1,
Naiwala,Faiz Road
Karol Bagh,New Delhi 110 005
Phone: +91 124 4396907
Email: compliance@askbrake.com
Website: https://askbrake.com/
ASK Automotive IPO Register
Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: askauto.ipo@linkintime.co.in
Website: https://linkintime.co.in/mipo/ipoallotment.html
ASK Automotive IPO Lead Manager
IIFL Securities Ltd
JM Financial Limited
Axis Capital Limited
ICICI Securities Limited
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