November 15, 2023
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ASK Automotive IPO GMP, Details & Review @ Chanakyanipothi.com
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ASK Automotive Post Listing Review:
On 15th November 23, the scrip is listed at Rs. 303.70, 7.55% premium over the issue price of Rs,282. The company has very strong and growing business of anto-anciliary segment. Post listing, we strongly suggest accumulating the shares, which can provide ample returns in the medium term.
Why should you apply ASK Automotive IPO? Review
Study our live analysis @
https://youtu.be/OkU_QLmUmi8
(to the point Guidance)
1. The company is the largest manufacturer of brake-shoe and advanced braking (“AB”) systems for two-wheelers in India with a market share of approximately 50% in Fiscal 2023in terms of production volume for original equipment manufacturers and the branded independent aftermarket.
2. Supplies to Marquee OEM since more than 20 years, which indicate best quality of its products.
3. Consistently making profits and paying dividends.
4. Very strong cash flow year after year and relatively debt-free.
5. IPO size is very small (Rs. 583.74 net of Anchor portion), HNI portion is just Rs. 125 Cr. So huge oversubscription assured.
6. Reasonable valuation (PE of 45.63), so there is enough room for listing gains.
7. Apply with full force, with the objective of Listing gains as well as portfolio investment.
ASK Automotive IPO GMP
Grey Market Premium: Rs.28
Kostak Rs. 300
Retail subject to Rs. 1300
Subject to Rs. 15400
What is the Subscription Status of ASK Automotive IPO?
On 9 November 2023 @ 5.00 (Day 3) (Closed)
Review: NII flow improved now.
QIB: 5914278 Shares 142.41 T
NII(10L+): 2957139 Shares 24.16 T
NII (<10L) 1478570 Shares 41.13 T
NII (Total) 4435709 Shares 35.47 T
RII: 10349987 Shares 5.70 T
Total: 20699974 Shares 51.14 T
Who is the promoter of ASK Automotive IPO?
KULDIP SINGH RATHEE AND VIJAY RATHEE
What is the business of ASK Automotive?
ASK Automotive is the largest manufacturer of brake-shoe and advanced braking (“AB”) systems for two-wheelers in India with a market share of approximately 50% in Fiscal 2022 in terms of production volume for original equipment manufacturers and the branded independent aftermarket (“IAM”), on a combined basis. It has been supplying safety systems and critical engineering solutions for more than
three decades with in-house designing, developing and manufacturing capabilities. Its offerings are powertrain agnostic, catering to electric vehicle (“EV”) as well as internal combustion engine (“ICE”) OEMs. Its brand “ASK” is recognised as the leading brand in the 2W IAM in terms of production volume for Fiscal 2022 in India.
Its in-house design and engineering capabilities enable it to deliver complex precision components and solutions with a focus on quality and have allowed it to diversify our business in both the automotive and non-automotive sectors. It commenced its operations in 1989 by manufacturing brake shoe products for 2Ws and has since diversified its operations to include offerings such as: (i) AB systems; (ii) aluminium lightweighting precision (“ALP”) solutions, where it is a prominent player for 2W OEMs in India with a market share of 8% in Fiscal 2022 in terms of production volume; (iii) wheel assembly to 2W OEMs; and (iv) safety control cables (“SCC”) products.
It supplies its 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.
It supplied its products to all of the top six 2W OEMs in India, the largest motorized 2W market in the world, with domestic sales of 13.73 million units during Fiscal 2022. In Fiscal 2022, it commenced commercial supplies to 2W EV OEMs in India, including, India’s largest 2W EV OEM by market share in calendar year 2022 , TVS Motor Company Limited, Ather Energy Private Limited, Hero MotoCorp Limited, Greaves Electric Mobility Private Limited, Bajaj Auto Limited and Revolt Intellicorp Private Limited (“Revolt”). It has long-standing relationships with all six of its top 2W OEM customers ranging from 15 years to more than 20 years.
For more information, click www.askbrake.com
What is the object of ASK Automotive IPO?
The object of the Offer is to carry out the Offer for Sale of up to 29,571,390 Equity Shares.
ASK Automotive IPO Grey Market Premium
| ASK Automotive IPO Details | |
| IPO opens on | 7 November,2023 |
| IPO closes on | 9 November ,2023 |
| Issue Type | Book Built Issue IPO |
| Issue Size | 29,571,390 Sh /Rs 834 Cr |
| * Fresh Issue | – Sh /Rs ? Cr |
| * Offer for Sale | 29,571,390 Sh /Rs 834 Cr |
| Face Value per share: | Rs. 2 |
| Price Band | Rs. 268-282 |
| Retail Discount | Rs 0 per share |
| Employee discount | Rs. 0 per share |
| Retail Lot Size | 53 Shares |
| Listing will at | BSE, NSE |
| Shares offered to | Shares | Rs. in Cr |
| QIB (50%) | 14785695 | 417.00 |
| NII (15%) | 4435709 | 125.10 |
| RII (35%) | 10349986 | 291.90 |
| Employees | X | – |
| Total Shares | 29571390 | 834.00 |
| Retail portion will be oversubscribed by | 195283 Forms. | |
| How to apply in ASK Automotive IPO ? | Net of RII discount | |
| Min Retail Application | 53 Sh | Rs. 14946 |
| Max Retail Application | 689 Sh | Rs. 194298 |
| Small HNI (Min) application | 742 Sh | Rs. 209244 |
| Small HNI (Max) application | 3498 Sh | Rs. 986436 |
| Big HNI Application | 3551 Sh | Rs. 1001382 |
| What is the timetable of ASK Automotive? | |
| IPO opens on | 7 November 2023 |
| IPO Closes on | 9 November 2023 |
| IPO Allotment on | 15 November 2023 |
| Unblocking of ASBA | 16 November 2023 |
| Credit of Shares | 17 November 2023 |
| Listing on | 20 November 2023 |
| Registered Office of ASK Automotive | |
| Flat No. 104, 929/1, Naiwala, Faiz Road, Karol Bagh, New Delhi 110 005, Delhi, India | |
| Who are the Lead Managers of ASK Automotive IPO? JM Financial Limited Axis Capital Limited ICICI Securities Limited IIFL Securities Limited |
|
| Registrar to IPO | |
| Link Intime India Private Limited |
| ASK Automotive IPO Financial & Analytical Ratios | ||||
| Year | Total Income | Net Profit | EPS | RoNW |
| Rs. in Cr | Rs.in Cr | Rs. | % | |
| 2020-21 | 1567.77 | 106.20 | 5.22 | 17.07 |
| 2021-22 | 2024.26 | 82.66 | 4.09 | 13.08 |
| 2022-23 | 2566.28 | 122.95 | 6.18 | 19.10 |
| Book Value of the Share on 31.03.2023 | Rs. | 32.66 | ||
| BV of the Share after the FPO | Rs. | ? | ||
| Offer Price at Cap | Rs. | 282 | ||
| Ratio Analysis | |
| Upper Price /last EPS | 45.63 |
| Upper Price/Book Value Ratio | |
| Upper Price/BV after IPO | ? |
ASK Automotive IPO GMP, Details & Review
Which are the companies which can be compared with Tata Technologies? Study Peer Comparison.
| As on date of RHP | Total Income Rs. | Face | PE |
| Income | Value | Ratio of | |
| Rs. In Cr | Rs | ||
| The IPO Company | 2555.17 | 2 | ? |
| Endurance Technologies | 8804.05 | 10 | 51.04 |
| Uno Minda | 11236.49 | 2 | 49.06 |
| Suprajit Engg. | 2752.35 | 1 | 34.92 |
| Bharat Forge | 12910.26 | 2 | 70.68 |
| X | – | – | – |
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