{"id":80237,"date":"2023-11-03T10:14:20","date_gmt":"2023-11-03T14:14:20","guid":{"rendered":"https:\/\/ifintechworld.com\/uncategorized\/ask-automotive-set-for-ipo-with-share-price-range-of-%e2%82%b9268-282\/"},"modified":"2023-11-03T10:14:23","modified_gmt":"2023-11-03T14:14:23","slug":"ask-automotive-set-for-ipo-with-share-price-range-of-%e2%82%b9268-282","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=80237","title":{"rendered":"ASK Automotive set for IPO with share price range of \u20b9268-282"},"content":{"rendered":"<div>\n<div id=\"imgCarousel\" class=\"imgCarousel\">\n<p><span class=\"text\">\u00a9 Reuters. <\/span><br \/>\n<i class=\"imgGrad\"><\/i>\n<\/div>\n<p>Gurugram-based manufacturer of two-wheeler braking systems, ASK Automotive, has announced its initial public offering (IPO) will open on Monday, November 7, and close on Wednesday, November 9. The anchor book for the IPO is set to open on Sunday, November 6. The company has set a price band of \u20b9268-282 per share for the offering.<\/p>\n<p>ASK Automotive aims to raise \u20b9833.91 crore through the sale of equity shares by promoters Kuldip Singh Rathee, who holds a 50.73% stake, and Vijay Rathee with a 39.47% stake. The company dominates the Indian market with a 50% market share as of fiscal year 2022. It has a diverse product range including AB systems, aluminum lightweight precision, wheel assembly for two-wheelers, and safety control cables. With 15 manufacturing units across five states, it supplies the top six two-wheeler original equipment manufacturers (OEMs) and electric vehicle OEMs.<\/p>\n<p>In Q1 FY23, ASK Automotive reported a profit after tax (PAT) of \u20b934.83 crore and revenue of \u20b9657.55 crore. This marks an increase of 54.8% and 8.7% respectively from Q1 FY22. For FY23, it posted a PAT of \u20b9122.95 crore and revenue of \u20b92,566.28 crore, showing an impressive growth of 48.75% from FY22.<\/p>\n<p>The IPO is divided among qualified institutional buyers (50%), non-institutional investors (15%), and retail investors (35%). The lot size for the offering is set at 53 equity shares and in multiples thereafter. Retail investors will have to shell out a minimum application amount of \u20b914,946 for one lot and can invest up to a maximum of \u20b9194,298 for 13 lots.<\/p>\n<p>The IPO is managed by merchant bankers JM Financial, <span itemscope=\"\" itemtype=\"http:\/\/schema.org\/Corporation\"><span itemprop=\"name\"> Axis Capital <\/span><\/span> (NYSE:), ICICI Securities, and IIFL Securities.<\/p>\n<p><em>This article was generated with the support of AI and reviewed by an editor. For more information see our T&amp;C.<\/em><\/p>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.investing.com\/news\/stock-market-news\/ask-automotive-set-for-ipo-with-share-price-range-of-268282-93CH-3218289\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u00a9 Reuters. Gurugram-based manufacturer of two-wheeler braking systems, ASK Automotive, has announced its initial public offering (IPO) will open on Monday, November 7, and close on Wednesday, November 9. The anchor book for the IPO is set to open on Sunday, November 6. The company has set a price band of \u20b9268-282 per share for [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":3065,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[1],"tags":[83],"class_list":["post-80237","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-uncategorized","tag-featured","post_format-post-format-video"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>ASK Automotive set for IPO with share price range of \u20b9268-282 | iFintechWorld<\/title>\n<meta name=\"description\" content=\"\u00a9 Reuters. 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