Ask Automotive Ltd IPO: Issue Details, Open/Close Date | Research 360 by Motilal Oswal
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ASK Automotive

CMP

391.60

-2.15 (-0.55%)

₹282

Offer Price

₹ 833.91 Cr

Issue Size

₹ 14,946

Min Investment

51.14x

Times Subscribed

53

Lot size

Time Line

  • 07
    Nov 2023
    Open
  • 09
    Nov 2023
    Close
  • 10
    Nov 2023
    Finalisation of Basis of Allotment
  • 10
    Nov 2023
    Initiation of Refunds
  • 13
    Nov 2023
    Transfer of Shares to Demat Account
  • 15
    Nov 2023
    Listing Date

Shares Offered

Number of Times Subscribed

Objects of the Offer

  • "Electrification"-further strengthen our position in the growing EV sector in India.

  • Continue to focus on our design,R&Dand engineering capabilities to develop innovative systems and solutions, as well as improveour manufacturing efficiencies.

  • Further diversify our product offeringsin the AB systems and ALP solutions categories and expand our addressable market.

  • Leverage export opportunities and enter new markets.

  • Increased focus on IAMs alesand spares.

Products & Services

  • ASK Automotive Limited supplies safety systems and critical engineering solutions with in-house designing, developing and manufacturing capabilities.

Strengths

  • Well established manufacturer of safety systems and critical engineering solutions for some of India`s largest OEMs in an industry with high entry barriers.

  • Robust production model driven by research and development ("R&D") and design with an emphasis on: (i) advanced material knowledge to customize systems and products based on customer specifications and (ii) engineering lighter precision products.

  • Technology and innovation-driven manufacturing process, with an extensive suite of systems and solutions for EV and ICE sectors.

  • Long-standing customer relationships with both Indian and global OEM players.

  • Financial and return metrics demonstrating growth and efficient use of capital.

Risks

  • A significant portion (more than 80%) of its revenue from operations in each of the last three Fiscals is attributable to the Indian two-wheeler automotive sector. Any adverse changes in the two-wheeler automotive sector could adversely impact its business, results of operations and financial condition.

  • The company is dependent on its top three customers who contribute more than 50.00% of its revenue from operations with it single largest customer contributing more than 30.00% of its revenue from operations in each of the last three Fiscals. Loss of any of these customers or a reduction in purchases by any of them could adversely affect its business, results of operations and financial condition.

  • The company`s business and profitability is substantially dependent on the availability and cost of its raw materials, including Aluminium, and any disruption to the timely and adequate supply of raw materials, or volatility in the prices of raw materials may adversely impact its business, results of operations and financial condition.

  • The company depends on third parties for the supply of raw materials and do not have firm commitments for supply or exclusive arrangements with any of its suppliers. Loss of suppliers may have an adverse effect on the company business, results of operations and financial condition.

  • The company may not be successful in implementing its growth strategies, particularly increasing the company market share in the evolving electric vehicle market, which could have an adverse effect on its business, financial condition, cash flows and results of operations.

Company Promoters

Promoters Holding

Issue For IPO
15.00%
Pre Holding

90.20%

Post Holding

75.20%

Top Promoters Holding

Financials

All values in Cr

Mar-2022 Mar-2023 Mar-2023 3-Yr trend
Revenue 2,013.08 (30.40%) 2,555.17 (26.90%) 19.10 (-)
Gross Profit 2,013.08 (30.40%) 2,555.17 (26.90%) 19.10 (-)
Net Income 2,013.08 (30.40%) 2,555.17 (26.90%) 19.10 (-)
Assets 2,013.08 (30.40%) 2,555.17 (26.90%) 19.10 (-)
Liabilities 2,013.08 (30.40%) 2,555.17 (26.90%) 19.10 (-)

Peers

Company Name Revenue (Cr) Net Profit (Cr) Assets (Cr) Liabilities (Cr) ROE EPS BVPS Current Ratio Debt to Assets
ASK Automotive Ltd 2,555.17 122.95 997.30 353.53 19.10 6.24 32.65 1.40 0.33
Endurance Technologies Ltd 8,804.05 479.58 6,802.45 6,802.45 10.86 34.09 313.67 7.05 0.11
Uno Minda Ltd 11,236.49 653.55 8,308.70 8,308.70 15.72 11.37 77.39 7.86 0.30
Suprajit Engineering Ltd 2,752.36 152.11 2,434.52 2,434.52 12.42 10.99 88.48 6.24 0.52
Bharat Forge Ltd 12,910.26 528.36 18,384.19 18,384.19 7.87 11.35 144.78 2.87 1.02

Book Running Managers

  • JM Financial Ltd
  • Axis Capital Ltd
  • ICICI Securities Ltd
  • IIFL Securities Ltd

Registrar & Transfer Agent

Link Intime India Pvt Ltd

C-101 247 Park,
L B S Marg,
Vikhroli West - Mumbai-400083
Phone : 91-22-49186000 Fax: 91-22-49186060

Company Contact Information

Flat No 104 929/1 Naiwala,
Faiz Road Karol Bagh,
New Delhi - 110005
Phone : +91 124 439 6907 Email : compliance@askbrake.com www.askbrake.com

Offer Related Information

Initial public offering of 29,571,390* equity shares of face value of Rs. 2 each ("Equity Shares") of ASK Automotive Limited ("The Company" or the "Issuer") for cash at a price of Rs. 282 per equity share of face value of Rs. 2 ("Offer Price") aggregating to Rs. 833.91 crores, comprising an offer for sale of 20,699,973* equity shares of face value of Rs. 2 aggregating to Rs. 583.74 crores by Kuldip Singh Rathee and 8,871,417* equity shares of face value of Rs. 2 aggregating to Rs. 250.17... More

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