ASK Automotive is gearing up for its IPO, scheduled to kick off on November 7 and run until November 9. The company aims to secure about ₹834 crores through the IPO, which includes an offer for sale of up to 29,571,390 shares, each valued at ₹2. The IPO is structured with a 35% allocation for retail investors, 50% for Qualified Institutional Buyers (QIBs), and 15% for High Net Worth Individuals (HNIs).
Established in 1988, ASK Automotive Limited has emerged as one of India's major players in the manufacturing of brake-shoe and advanced braking systems for two-wheelers. With an impressive market share of around 50% in terms of production volume for original equipment manufacturers (OEMs) and the branded independent aftermarket (IAM) combined, ASK Automotive has solidified its position in the industry (Source: CRISIL Report). Notably, their brand "ASK" holds the coveted status of being the leading brand in the 2W IAM manufacturing volume for FY2023 in India. This IPO marks another milestone in ASK Automotive's journey, reflecting its continued commitment to innovation and excellence in the automotive sector.