Analysts are positive on ASK Automotive IPO given the company s strong growth potential, professional management and competitive advantage. The offer comprises entirely an offer for sale (OFS) of up to 2.95 crore equity shares.
ASK Automotive IPO| The Rs 834-crore public issue comprises only an offer-for-sale of 2.95 crore equity shares by the Rathee family, and there is no fresh issue portion in the offer.
ASK Automotive has 15 manufacturing units spread across five states in India as of June 2023. ASK Automotive supplies to original equipment manufacturers.
ASK Automotive IPO | As many as 25 investors participated in the anchor book including marquee names such as Morgan Stanley, Goldman Sachs, Integrated Core Strategies, BNP Paribas Arbitrage, Societe Generale, and Copthall Mauritius Investment.
The lender has fixed a price band of Rs 268-282 per equity share for the IPO. Investors can bid for a minimum of 53 shares and in multiples thereafter. About 50% of the offer is reserved for qualified institutional buyers, 35% for retail investors, and 15% for non-institutional investors.