Sunil Shankar Matkar
November 02, 2023 / 07:37 AM IST
ASK Car that specialises in developed braking programs for two-wheeler segment has allege the value band for its IPO at Rs 268-282 per share. The public region shall be opening for subscription on November 7.
The deadline for the provide will be November 9, whereas the investors can participate within the anchor e-book on November 6, which opens for a day.
The auto ancillary company is planning to mop up Rs 833.91 crore on the upper heed band, through preliminary public offering of two,95,71,390 fairness shares.
The said public region contains ultimate an provide-for-sale by promoters Kuldip Singh Rathee and Vijay Rathee. Hence, the total region proceeds, moreover for IPO bills, shall be got by promoters.
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The firm has reserved half of of the general public region dimension for certified institutional investors, 15 percent for excessive networth folk, and the final 35 percent for retail investors.
Investors can expose for as a minimal fifty three fairness shares and in multiples of fifty three shares thereafter. Hence, the minimal investment by retail investors shall be Rs 14,946 (for fifty three shares), and the maximum Rs 1,94,298 (689 shares).
ASK Car, the ultimate manufacturer of brake-shoe and developed braking (AB) programs for two-wheelers in India, additionally specialises in aluminium gentle-weighting precision choices, wheel assembly, and security protect an eye on cables products, serving both the auto and non-automobile sectors.
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The corporate operates industry through 15 manufacturing services across five states in India, and maintained long-standing relationships with high six two-wheeler manufacturing corporations particularly Hero MotoCorp, Honda Bike and Scooter India, Bajaj Auto, India Yamaha Motor, TVS Motor, and Suzuki Bike India.
JM Monetary, Axis Capital, ICICI Securities, and IIFL Securities are the carrier provider bankers to the region.
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