ASK Automotive IPO
With a market share of roughly 50% in terms of production volume for original equipment manufacturers (OEMs) and the branded independent aftermarket (IAM), combined, ASK Automotive is the largest manufacturer of brake shoes and advanced braking (AB) systems for two-wheelers (2W) in India.
The organisation, which has in-house design, development, and manufacturing skills, has been providing safety systems and crucial technical solutions for more than thirty years. It provides powertrain agnostic solutions to OEMs of internal combustion engines (ICEs) and electric cars (EVs).
ASK Automotive has since diversified its operations to include offerings such as (i) AB systems; (ii) aluminum lightweighting precision (ALP) solutions, where it is a prominent player for 2W OEMs in India with a market share of 8% in FY 2022 in terms of production volume: (iii) wheel assembly to 2W OEMs; and (iv) safety control cables (SCC) products.
ASK Automotive IPO Details
| Signature Global IPO Details | ||
|---|---|---|
|
ASK Automotive IPO Dates |
7 – 9 November 2023 |
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|
ASK Automotive IPO Price |
INR 268 – 282 per share |
|
|
Fresh issue |
Nil |
|
|
Offer For Sale |
29,571,390 shares (INR 792.51 – 833.91 crore) |
|
|
Total IPO Size |
29,571,390 shares (INR 792.51 – 833.91 crore) |
|
|
Minimum bid (size) |
53 shares (INR 14,946) |
|
|
Face Value |
INR 2 per share |
|
|
Retail Allocation |
35% |
|
|
Listing On |
BSE, NSE |
|
ASK Automotive Financial Performance
| Signature Global Financial Performance | ||||
|---|---|---|---|---|
|
|
FY21 |
FY22 |
FY23 |
Q1 FY 24 |
|
Revenue |
1,543.99 |
2,013.08 |
2,555.17 |
656.51 |
|
Expenses |
1,420.40 |
1,905.99 |
2,390.63 |
612.12 |
|
Net income |
105.76 |
83.59 |
122.94 |
34.83 |
|
Margin (%) |
6.85 |
4.15 |
4.81 |
5.31 |
Figures in INR Crore unless specified otherwise