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ASK Automotive IPO

ASK Automotive IPO

  • Status: Closed
  • RHP:
  • ₹ 14,204 / 53 shares

    Minimum Investment

IPO Details

  • Open Date

    07 Nov 2023

  • Close Date

    09 Nov 2023

  • IPO Price Range

    ₹ ₹ 268 to ₹ 282

  • IPO Size

    ₹ 833.91 Cr

  • Listing Exchange

    BSE, NSE

  • Listing Date

    20 Nov 2023

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IPO Timeline

ASK Automotive IPO Subscription Status

Last Updated: 21 November 2023 5:41 PM by 5Paisa

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:

 

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

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


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. 
 

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FAQs

The minimum lot size of ASK Automotive IPO is 53 shares and the investment required is ₹14,204.

The price band of ASK Automotive IPO is ₹268 to ₹282.

ASK Automotive IPO is open from 7th November to 9th November 2023.
 

The size of ASK Automotive IPO is around ₹834.00 cr. 

The share allotment date of ASK Automotive IPO is 15th of November 2023.

The ASK Automotive IPO will be listed on the 20th of November 2023.

JM Financial Limited, Axis Capital Limited, ICICI Securities Limited, and IIFL Securities Limited are the book-running lead managers for ASK Automotive IPO.

The company will not receive any proceeds. The entire Offer Proceeds will be received by the Selling Shareholders.
 

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.