ASK Automotive IPO: Open/Close Date, Price, Lot Size, Allotment, Subscription

Q: What minimum lot size can retail investors subscribe to?

The lot size for the IPO is 53 shares .

IPO Details

Bidding Dates

06 Nov '23 - 08 Nov '23

Minimum Investment

₹14,946 / 1 Lots ( 53 Shares )

Price Range

₹268 - ₹282

Maximum Investment

₹194,298 / 13 Lots ( 689 Shares )

Retail Discount

Not Applicable

Issue Size

₹834 Cr

Investor category and sub category

Qualified Institutional Buyers | Non-Institutional Investors | Retail Individual Investors |

IPO Dates

Important dates with respect to IPO allotment and listing

IPO Opening Date

Nov 6, 2023

IPO Closing Date

Nov 8, 2023

Basis of Allotment

Nov 14, 2023

Initiation of Refunds

Nov 15, 2023

Credit of Shares to Demat Account

Nov 16, 2023

IPO Listing Date

Nov 19, 2023

UPI Mandate Expiry Date

Nov 8, 2023

IPO Subscription Details

Date	QIB	NII	Retail	Total
Day 1Nov 6, 2023	0.03x	0.41x	0.57x	0.39x

IPO Subscription Status Live

Investor Category	Subscription (Times)
Qualified Institutions Buyers	0.03
Non-Institutional Buyers	0.41
Retail Investors	0.57
Total	0.39

About ASK Automotive Ltd

ASK Automotives began its operations in 1989. Over the years, the company has supplied safety systems and critical engineering solutions to internal combustion engine (ICE) and electric vehicle OEMs or original equipment manufacturers. They have an in-house team for designing, developing and manufacturing their products.

The company has diversified its operations to include offerings such as:

AB systems, aluminium lightweighting precision (ALP) solutions, wheel assembly to two-wheeler OEMs and safety control cables. Their customer base comprises OEMs for two-wheelers, three-wheelers, passenger vehicles, commercial vehicles, all-terrain vehicles, power tools and outdoor equipment. Of these products, AB systems and ALP solutions bring in the highest revenue share of around 41.77% and 38.87% of the revenue in FY 2023, respectively.

The size of the auto component market is expected to grow at a 12-14% CAGR between Fiscal 2023 and Fiscal 2028. Within this, the domestic and export-driven growth in the market for advanced braking systems is expected to be at 8.9% CAGR over the next five years. Similarly, the domestic market size of ALP solutions is expected to grow at an 11.3% CAGR between 2023 and 2028. This may help ASK Automotives in scaling its revenues.

ASK Automotive Ltd IPO Details

ASK Automotive Ltd IPO Date

The dates for bidding for the ASK Automotive IPO are November 7, 2023 to November 9, 2023.

ASK Automotive Ltd IPO Price Band

ASK Automotive is a book-built IPO with a price range of ₹268 to ₹282 per share.

ASK Automotive Ltd IPO Lot Size

The ASK Automotive Ltd IPO lot size is 53 shares.

ASK Automotive Ltd IPO Objectives

The proceeds are all coming via the offer for sale and hence will not be received by the company. Overall the IPO will help enhance the brand’s visibility and provide liquidity to its existing shareholders.

Peer Details

The company’s peers include:

Endurance Technologies Limited
Uno Minda Limited
Suprajit Engineering Limited
Bharat Forge Limited

How to Check the Allotment Status of the ASK Automotive Ltd IPO?

A: Steps to check IPO allotment status on Angel One’s app:

Log in to the Angel One app.
Go to the IPO Section and then to IPO Orders.
Select the individual IPO that you had applied for and check the allotment status.
Angel One will notify you of your IPO allotment status via push notification and email.

Contact Details of ASK Automotive Ltd

Registered office: Flat No. 104, 929/1, Naiwala, Faiz Road, Karol Bagh, New Delhi 110 005, Delhi, India

Phone: +91 124 4396907

E-mail: compliance@askbrake.com

Company Financials

Particulars (₹ in millions)	Year Ending on March 31, 2023	Year ending on March 31, 2022	Year ending on March 31, 2021
Total Income	25,662.79	20,242.60	15,677.67
Profit After Tax	1,229.53	826.59	1062.01
Net Increase (Decrease) in cash and cash equivalents	9.25	172.25	151.71
Return on Average Capital Employed	22.06%	16.76%	21.98%
Debt to Equity Ratio	0.49	0.25	0.13

Know before investing

Strengths

They are the largest manufacturer of brake-shoe and advanced braking (AB) systems for two-wheelers in India with a market share of approximately 50% in Fiscal 2023 in terms of production volume.
They identified the EV sector as an opportunity and diversified into this sector in FY 2021 to complement their existing suite of systems and solutions for the ICE sector.
They have long-standing relationships with major multinational companies like Stanley Black & Decker, Polaris, and MTD Products. In India, their customers include the top six two-wheeler OEMs.

Risks

Their revenue from the two-wheeler category constituted over 90% of their total revenue in FY 2023. This may be too much of a concentration in their source of revenue.
Their top 3 customers contribute more than 50% of their revenue from operations, including their largest customer which contributes approximately 30% of their revenue from operations. Any loss of a top customer may seriously affect their revenues.
They depend on third-party suppliers for raw materials and do not have firm or exclusive arrangements with any of their suppliers. This opens their supply chain to disruption.