November 6, 2023
This is to inform you that ASK Automotive Limited is coming out with a public issue to raise Rs.834.00 crore from the market.
The issue opens on November 7 and closes on November 9, 2023.
Details of the ASK Automotive Limited IPO
| Company Details | : |
ASK Automotive Limited are the largest manufacturer of brake-shoe and advanced braking (“AB”) systems for two-wheelers (“2W”) in India with a market share of approximately 50% in Fiscal 2023 in terms of production volume for original equipment manufacturers (“OEMs”) and the branded independent aftermarket (“IAM”), on a combined basis (Source: CRISIL Report). They have been supplying safety systems and critical engineering solutions for more than three decades with in-house designing, developing and manufacturing capabilities. Their offerings are powertrain agnostic, catering to electric vehicle (“EV”) as well as internal combustion engine (“ICE”) OEMs. Their brand “ASK” is recognised as the leading brand in the 2W IAM in terms of production volume for Fiscal 2023 in India (Source: CRISIL Report). Their in-house design and engineering capabilities enable them to deliver complex precision components and solutions with a focus on quality and have allowed them to diversify their business in both the automotive and non-automotive sectors. They commenced their operations in 1989 by manufacturing brake shoe products for 2Ws and have since diversified their operations to include offerings such as: (i) AB systems; (ii) aluminium lightweighting precision (“ALP”) solutions, where they are a prominent player for 2W OEMs in India with a market share of 9% in Fiscal 2023 in terms of production volume (Source: CRISIL Report); (iii) wheel assembly to 2W OEMs; and (iv) safety control cables (“SCC”) products. They supply their portfolio of AB systems, ALP solutions, wheel assembly, and SCC products to OEMs in (i) the automotive sector for 2Ws, three wheelers (“3Ws”), passenger vehicles (“PVs”) and commercial vehicles (“CVs”), and (ii) the non-automotive sector for all-terrain vehicles (“ATVs”), power tools and outdoor equipment. In Fiscal 2022, they commenced commercial supplies to 2W EV OEMs in India, including TVS Motor Company Limited (“TVS”), Ather Energy Private Limited (“Ather”), Hero MotoCorp Limited (“Hero MotoCorp”), Greaves Electric Mobility Private Limited (“Greaves”), Bajaj Auto Limited (“Bajaj”) and Revolt Intellicorp Private Limited (“Revolt”). Company also caters to customers overseas, both in the automotive and non-automotive sectors through export of AB systems and ALP solutions. Automotive customers outside India include UFI Filters India Private Limited (“UFI Filters”), Federal-Mogul Italy s.r.l. – racing & motorcycle division (“Federal-Mogul”), and FDP Virginia Inc., and their non-automotive customers outside India include Stanley Black & Decker, Polaris Industries Inc. (“Polaris”) and MTD Products Inc. (“MTD Products”). |
| Issue Period | : | Issue opens on: Tuesday, November 7, 2023 Issue closes on: Thursday, November 9, 2023 |
| Price Band | : | Rs.268 to Rs.282 per equity share |
| Bid Lot | : | 53 equity shares and in multiple thereafter. |
| Issue Size | : | Rs.834.00 crore |
| Issue break-up | : | QIB - 50% of the net offer – Rs.417.00 crore NIB - 15% of the net offer - Rs.125 crore RET - 35% of the net offer - Rs.292 crore |
| Listing | : | BSE & NSE |
| Registrar | : | Link Intime India Pvt Ltd |
| UPI | : | All Retail & NII Bidders (bids up to ₹ 5,00,000) Applications through brokers are compulsorily in UPI Mode |
| Note | : |
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Watch these 4 videos to know how to apply for the ASK Automotive Limited IPO online easily.
Step 1: Create an UPI ID 
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Step 2: Apply for IPO online using mobile app or website 
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Step 3: Authorise UPI mandate to block payment 
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Remember these points while applying for IPOs
- With Sharekhan, you can now fill and submit your IPO application online at your convenience anytime before an issue closes. This can be done through the Sharekhan app or website.
- You will need a mobile phone with a SIM linked to your bank account offering the UPI facility and a debit card to create your UPI ID.
- Currently, UPI works on the following mobile applications:
Name of App (Supported Platforms) VPA Handle BHIM Baroda Pay (only Android) @BARODAMPAY BHIM Oriental Pay (Only Android) @obc BHIM RBL Pay (Android & iOS) @rbl BHIM (android & iOS) @upi BHIM ALLBANK UPI (only Android) @allbank BHIM Axis Pay (only android) @axisbank BHIM IndusPay (only Android) @indus BHIM Lotza UPI (only Android) @federal BHIM SBIPay (only android) @sbi Citi Mobile (android & iOS) @citi & @citigold Google Pay (android & iOS) @okhdfcbank | @okaxis | @oksbi | @okicici HSBC Simply Pay (android & iOS) @hsbc iMobile by ICICI Bank (android users) @icici Kotak Mobile Banking App (Android) @kotak Phone-Pe (android & iOS) @ybl SIB Mirror+ (only Android) @sib BHIM YES PAY (only Android) @yesbank DigiBank - DBS (Android & iOS @dbs Paytm (Andriod & iOS) @paytm BHIM AUPay (Android & iOS) @aubank Freecharge (Android & iOS) @freecharge BHIM BANDHAN UPI (Android & iOS) @bandhan BHIM KBL UPI (Android) @kbl Phone-Pe (Android & iOS) @ybl, @axl, @ibl - To avoid rejection, download the latest version of the app.
- Remember to select UPI as the payment option in the IPO application form by providing your UPI ID.
- As soon as you submit your application through the mobile app or website, you will receive an SMS from National Payments Corporation of India (NPCI) informing you that your UPI mandate has been generated.
- The app passcode and the UPI PIN can be different; remember to enter only the UPI PIN while authorising the UPI mandate. Note that you should not share your UPI PIN with anyone.
- If you forget the UPI PIN, simply reset it instead of entering a wrong one.
- If the transaction gets through, you will receive a “Transaction is successful” message on your mobile.
- There are two possible scenarios post-allotment: On full allotment, funds will be debited from your account. If there is no allotment of shares, the blocked funds will be released after the end date or expiry date of the UPI mandate.
| Published by Team Internal Communications |  |
| This newsletter is for internal circulation only. It may not be published, reproduced or quoted in part or in whole, nor may it be published on social media without prior consent. The content is strictly copyright and reproduction of the whole or part of it in any form is prohibited without written permission from the Internal Communications department of Sharekhan. | |
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