ASK Automotive IPO
ASK Automotive IPO — date, price band, lot size & details 2023
ASK Automotive listed on 15 Nov 2023 at ₹303.3, 7.6% above the ₹282 issue price.
ASK Automotive makes brake shoes, advanced braking systems, safety control cables and aluminium lightweighting parts, and is the largest maker of brake-shoe and advanced braking systems for two-wheelers in India. Its total income was Rs 2,566.28 crore in FY2023.
Stock price
ASK Automotive is listed — here is the live share price.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 11 November.
- Open 07 Nov 2023
- Close 09 Nov 2023
- Allotment 10 Nov 2023
- Refund/credit 10 Nov 2023
- Listing 15 Nov 2023
Issue summary
The terms of the offer, as filed.
| IPO Dates | 7 to 9 Nov, 2023 |
|---|---|
| Price Band | ₹268 – ₹282 |
| Face Value | ₹2 |
| Lot Size | 53 Shares |
| Issue Size | ₹833.91 Cr |
| Sale Type | OFS only |
| Listing On | BSE, NSE |
| Registrar | MUFG Intime India Private Limited |
| Min Investment | ₹ 14,946 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 53 shares at the ₹282 cut-off. Drag to size your application.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 53 | ₹14,946 |
| Retail (max) | 13 | 689 | ₹1,94,298 |
| S-HNI (min) | 14 | 742 | ₹2,09,244 |
| S-HNI (max) | 66 | 3,498 | ₹9,86,436 |
| B-HNI (min) | 67 | 3,551 | ₹10,01,382 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 5
- 01Total income rose from Rs 1,567.77 crore in FY2021 to Rs 2,566.28 crore in FY2023.
- 02Profit after tax rose from Rs 82.66 crore in FY2022 to Rs 122.95 crore in FY2023.
- 03It had about 50% market share in two-wheeler brake-shoe and advanced braking systems in Fiscal 2023.
- 04It supplied all of the top 6 two-wheeler OEMs in India.
- 05The source puts return on net worth at 19.10%.
Risks · 5
- 01The whole Rs 833.91 crore issue was offer for sale by the promoters, so no money went to the company.
- 02Margins are thin, and the source puts the PAT margin at 4.79%.
- 03Total borrowing rose from Rs 79.89 crore on 31 March 2021 to Rs 386.84 crore on 30 June 2023, as per the RHP.
- 04Sales depend heavily on two-wheeler demand and a few large OEMs. The pre-issue P/E was 45.63 at Rs 282.
- 05Promoter holding fell from 100% before the issue to 85% after it.
Three years of numbers
All figures in ₹ crore, as reported in the ASK Automotive offer document.
| Metric | 30 Jun 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
|---|---|---|---|---|
| Assets | 1,443.34 | 1,281.21 | 1,105.56 | 948.25 |
| Total Income | 657.55 | 2,566.28 | 2,024.26 | 1,567.77 |
| Profit After Tax | 34.83 | 122.95 | 82.66 | 106.20 |
| NET Worth | 678.46 | 643.77 | 631.91 | 622.23 |
| Reserves and Surplus | 639.03 | 604.34 | 591.73 | 581.54 |
| Total Borrowing | 386.84 | 318.01 | 159.79 | 79.89 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Valuation & key ratios
Ratios are for the latest full financial year reported in the ASK Automotive RHP. EPS and P/E are post-issue — the table below carries the pre-issue comparison.
ASK Automotive IPO Valuation
How the issue prices the company before and after the fresh shares are created.
| Valuation Metric | Pre-Issue | Post-Issue |
|---|---|---|
| P/E Ratio (x) | 45.63 | 39.89 |
Pre-issue figures use the shareholding reported in the RHP; post-issue figures use the shareholding once the fresh issue has created new shares. The two differ because of that dilution and because post-issue earnings per share are often annualised, so the change can run in either direction. Market capitalisation is calculated at the ₹282 offer price. Compare the post-issue P/E against listed peers before deciding — a premium there is growth you are paying for in advance.
Where the money goes
How the company intends to use the proceeds of the issue.
Information about the usage of proceeds from the ASK Automotive IPO will be updated shortly.
About the company
As per CRISIL, it supplied all of the top six two-wheeler OEMs in India in Fiscal 2023, and is the largest maker of brake-shoe and advanced braking systems for two-wheelers in India, with about 50% market share by volume across OEMs and the branded aftermarket.
It is also among the prominent players in safety control cables and aluminium lightweighting precision solutions for two-wheeler OEMs.
The IPO was Rs 833.91 crore and was entirely an offer for sale by the two promoters, so the company received none of the money.
Interested in this IPO? Check the live subscription status or browse all upcoming mainboard IPOs.
The bankers & the filings
Who is running the book, and the documents this page is built from.
ASK Automotive IPO Documents
Read the filings this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
JM Financial Ltd.
125 issues handledBest listing: Tata Technologies (+140.0%). Weakest: ACME Solar Holdings (-13.1%).
Axis Capital
126 issues handledBest listing: Latent View Analytics (+160.0%). Weakest: Shriram Properties (-23.7%).
ICICI Securities
133 issues handledBest listing: Latent View Analytics (+160.0%). Weakest: Shriram Properties (-23.7%).
IIFL Capital Services Limited
116 issues handledBest listing: Unicommerce eSolutions (+117.6%). Weakest: Rategain Travel Technologies (-15.3%).
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of ASK Automotive?
The current Grey Market Premium is ₹30, or 11% over the issue price.
What is the ASK Automotive IPO price band?
₹268 to ₹282, on a face value of ₹2.
When is the allotment?
The basis of allotment is 10 November 2023, with listing on 15 November 2023.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — MUFG Intime India Private Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
