ASK Automotive Ltd IPO Timeline
ASK Automotive Ltd IPO opens on 07-Nov-2023, and closes on 09-Nov-2023. The ASK Automotive Ltd IPO bid date is from 07-Nov-2023 to 09-Nov-2023. The Cut-off time for UPI Mandate confirmation is 12 P.M. on the next day of issue closing day.
|ASK Automotive Ltd IPO Opening Date
|ASK Automotive Ltd IPO Closing Date
|Basis of Allotment
|Initiation of Refunds
|Credit of Shares to Demat
|ASK Automotive Ltd IPO Listing Date
ASK Automotive Ltd IPO Lot Size
ASK Automotive Ltd IPO lot size is 53 shares. A retail-individual investor can apply for up to 13 lots (689 shares or 194298).
ASK Automotive Ltd IPO Details
|ASK Automotive Ltd IPO Date
|07-Nov-2023 to 09-Nov-2023
|ASK Automotive Ltd IPO Face Value
|Shares of ₹2 per share
|ASK Automotive Ltd IPO Price
|₹268 to ₹282 per share
|ASK Automotive Ltd IPO Lot Size
|Shares of ₹2 (aggregating up to ₹833.91 Cr)
|Offer for Sale
|Shares of ₹2 (aggregating up to ₹833.91 Cr)
|Book Built Portion
|QIB Shares Offered
|Not more than 5914278
|Retail Shares Offered
|Not less than 10349987
|NII (HNI) Shares Offered
|Not less than 4435709
|Kuldip Singh Rathee, Vijay Rathee.
Objects of the Issue
The company proposes to utilise the Net Proceeds from the Fresh Issue towards funding the following objects:
- 1 Listing the Equity Shares on the Stock Exchanges
ASK Automotive Ltd Financial Information (Restated)
|Profit After Tax
|Amount in ₹ Crore
- Well established manufacturer of safety systems and critical engineering solutions for some of India's largest OEMs in an industry with high entry barriers.
- Robust production model driven by research and development ("R&D") and design with an emphasis on: (i) advanced material knowledge to customize systems and products based on customer specifications and (ii) engineering lighter precision products.
- Technology and innovation-driven manufacturing process, with an extensive suite of systems and solutions for EV and ICE sectors.
- Long-standing customer relationships with both Indian and global OEM players.
- Financial and return metrics demonstrating growth and efficient use of capital.
- Professional management and board.
- A significant portion (more than 80%) of its revenue from operations in each of the last three Fiscals is attributable to the Indian two-wheeler automotive sector. Any adverse changes in the two-wheeler automotive sector could adversely impact its business, results of operations and financial condition.
- The company is dependent on its top three customers who contribute more than 50.00% of its revenue from operations with it single largest customer contributing more than 30.00% of its revenue from operations in each of the last three Fiscals. Loss of any of these customers or a reduction in purchases by any of them could adversely affect its business, results of operations and financial condition.
- The company's business and profitability is substantially dependent on the availability and cost of its raw materials, including Aluminium, and any disruption to the timely and adequate supply of raw materials, or volatility in the prices of raw materials may adversely impact its business, results of operations and financial condition.
- The company depends on third parties for the supply of raw materials and do not have firm commitments for supply or exclusive arrangements with any of its suppliers. Loss of suppliers may have an adverse effect on the company business, results of operations and financial condition.
- The company may not be successful in implementing its growth strategies, particularly increasing the company market share in the evolving electric vehicle market, which could have an adverse effect on its business, financial condition, cash flows and results of operations.
- The company has undertaken and may continue to undertake technical collaborations, joint ventures, strategic investments, alliances and acquisitions in the future, which may be difficult to integrate and manage, exposing it to risks that could adversely affect the company business.
- The company has experienced growth in recent years and may be unable to sustain its growth or manage it effectively.
- The company use third-party dealers to market, sell and deliver products in the independent aftermarket ("IAM") category and are subject to risks associated with these arrangements.
- The company outsource certain operations of its business such as transport, logistics and other processes to third parties. Any failure by such third parties to deliver their services could have an adverse impact on the company business.
- The company manufacturing facilities are concentrated in the state of Haryana and certain products (disc brake pads and safety control cables) are manufactured only at its manufacturing facilities in Haryana. Any significant social, political, economic or seasonal disruption, natural calamities or civil disruptions in Haryana could have an adverse effect on the company business, results of operations, future cash flows and financial condition.
- The company does not own its Registered Office and land on which some of the manufacturing facilities are located. A failure to renew its existing lease arrangements at commercially favourable terms or at all may have a material adverse effect on the company business, financial condition and results of operations.
- Certain of the company manufacturing facilities are located within industrial development corporation premises. If the company has unable to comply with conditions of use of such land or otherwise renew existing leases for such manufacturing facilities, its may have to relocate the company operations which may have an adverse impact on the business, financial condition and operations.
- Under-utilization of the company manufacturing capacities and an inability to effectively utilize its expanded manufacturing capacities could have an adverse effect on the company business, future prospects and future financial performance.
- The company has significant power, fuel and water requirements and any disruption to the supply of power, fuel or water could disrupt its manufacturing operations and increase the production costs, which could adversely affect the company results of operations.
- The company proposed expansion plans relating to the manufacturing facilities in Bhiwadi, Rajasthan and Kolar, Karnataka are subject to the risk of unanticipated delays in implementation and cost overruns.
- The company is dependent on contract labour and any disruption to the supply of such labour for its manufacturing facilities or the company inability to control the composition and cost of the contract labour could adversely affect its operations.
- The company may be subject to industrial unrest, slowdowns and increased employee costs, which may adversely affect its business and results of operations.
- The company is dependent on its manufacturing facilities and any disruption, slowdown or shutdown of the company manufacturing facilities may restrict its operations and adversely affect the company business and financial condition.
- The company has been extending financial support to its Joint Venture, ASK Fras-Le Friction Private Limited, that has incurred losses in the last three Fiscals.
- The company Subsidiary has negative net worth and may not be able to turn profitable in the future.
- Pricing pressure from the company customers or its inability to fully pass on costs to the customer, may impact the company revenue from operations and profitability and may result in a materially adverse effect on its business, results of operations and financial condition.
- Its inability to maintain appropriate levels of inventory to meet the demands of its customers may have an adverse effect on the company results of operations and financial condition.
- The company has substantial capital expenditure and working capital requirements and may require additional financing to meet those requirements, which could have an adverse effect on its results of operations and financial condition.
- Its inability to collect receivables in time or at all and default in payment from its customers could result in the reduction of the company profits and affect its cash flows.
- The company has incurred significant indebtedness, and an inability to comply with repayment and other covenants in its financing agreements could adversely affect the company business and financial condition.
- The company has entered into certain credit facilities that are repayable on demand. Any unexpected demand for repayment of such facilities by the lenders may adversely affect the company business, financial condition, cash flows and results of operations.
- The company is exposed to foreign currency exchange rate fluctuations which may have an adverse effect on its results of operations and the value of the Equity Shares, independent of the company operating results.
- The company Statutory Auditors have included certain matters prescribed under the Companies (Auditor's Report) Order 2020 in their report on its Restated Consolidated Financial Information as of and for Fiscals ended March 31, 2023 and 2022.
- The company may not have sufficient insurance coverage to cover its economic losses as well as certain other risks, including those pertaining to litigation and claims by third parties.
- The development of safety systems and critical engineering solutions involves a lengthy and expensive process with uncertain timelines and outcomes. Some of the company product or process development decisions, including R&D costs, or investments in technologies, may not meet its expectations, and its investment in such projects may be unprofitable.
- The company has in the past entered into related party transactions and may continue to do so in the future, which may potentially involve conflicts of interest.
- The company contingent liabilities as stated in its Restated Consolidated Financial Information could adversely affect the company financial condition.
- The company is entitled to certain tax and export benefits which are subject to the policies and decisions of the Government of India.
- "Electrification"-further strengthen our position in the growing EV sector in India.
- Continue to focus on our design,R&Dand engineering capabilities to develop innovative systems and solutions, as well as improveour manufacturing efficiencies.
- Further diversify our product offeringsin the AB systems and ALP solutions categories and expand our addressable market.
- Leverage export opportunities and enter new markets.
- Increased focus on IAMs alesand spares.
ASK Automotive Ltd IPO Promoter Holding
|Pre Issue Share Holding
|Post Issue Share Holding
ASK Automotive Ltd IPO Subscription Status (Bidding Detail)
The ASK Automotive Ltd IPO is subscribed 51.14 times on Nov 09, 2023 05:00:00 PM. The public issue subscribed 5.7 times in the retail category, 142.41 times in the QIB category, and 35.47 times in the NII category. Check Day by Day Subscription Details (Live Status)
ASK Automotive Ltd IPO Prospectus
ASK Automotive Ltd IPO Listing Date
|15 Nov 23
ASK Automotive Ltd IPO Registrar
Link Intime India Pvt Ltd
Phone: +91 810 811 4949
ASK Automotive Ltd IPO Lead Manager(s)
- JM Financial Ltd
- Axis Capital Ltd
- ICICI Securities Ltd
- IIFL Securities Ltd
FAQs on ASK Automotive Ltd IPO
ASK Automotive Ltd IPO, which opens for subscription from 07-Nov-2023 to 09-Nov-2023 has an issue size of ₹833.91 crore. The issue type is book building issue.
In case of pre-apply, your IPO order will be placed on the Exchange as soon as the official bidding for ASK Automotive Ltd IPO begins. You will receive a UPI request within 24 hours after the bidding period opens.
ASK Automotive Ltd IPO Opens for subscription from 07-Nov-2023 to 09-Nov-2023.
The lot size of ASK Automotive Ltd is 53 shares. Retail investors can subscribe to minimum 1 lot and maximum 13 lots. The minimum and maximum application value is ₹14946 and ₹194298 respectively.
Allotment date for ASK Automotive Ltd is 10-Nov-2023 and refund of application amount (in case allotment is not received) will begin from 10-Nov-2023. If your allotment goes through, then shares will be credited in your Demat account by 13-Nov-2023.
The registrar for ASK Automotive Ltd IPO is Link Intime India Pvt Ltd. You can check your IPO allotment status on the registrar's website.
The shares of ASK Automotive Ltd are proposed to be listed on Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).