ASK Automotive IPO Wraps Up: Massive 20x Subscription, GMP At ₹45

The ASK Automotive Initial Public Offering (IPO) has witnessed overwhelming demand from investors, with the subscription reaching an impressive 20.79 times as the three-day bidding process concludes today, November 9. The IPO, valued at ₹834 crores, marks a significant milestone for the auto component manufacturer, known for its Advance Braking Systems for two-wheelers in India.

Subscription Status:


As of 2:20 pm on the final day, the public issue has received bids for 43.02 crore equity shares against the offered 2.06 crore shares. The retail category subscribed 4.02 times, the Qualified Institutional Investors’ (QIB) category saw an outstanding 47.89 times subscription, and the Non-Institutional Investors’ (NII) category recorded 23.78 times subscription.

Grey Market Premium (GMP) Update:


The GMP for ASK Automotive IPO has been reported at ₹45 per share in the grey market. This indicates a robust market sentiment, with the equity shares trading at a premium of ₹45 each. Expecting how much the shares will be worth when they start trading, with the extra price people are willing to pay (GMP) and the original price, experts think it could be around ₹327 per share. This is about 16% more than the initial price of ₹282 per share.

IPO Details Recap:


The ASK Automotive IPO, which opened for subscription on November 7, has set a price band of ₹268 to ₹282 per share. The company aims to raise ₹834 crores through the public issue, entirely through the offer for sale of 2.96 crore equity shares. The IPO lot size is 53 shares, requiring a minimum investment of ₹14,946 for retail investors.

Book Running Lead Managers and Registrar:


JM Financial, Axis Capital, ICICI Securities, and IIFL Securities serve as the book running lead managers for the ASK Automotive IPO. Link Intime India Private Ltd has been appointed as the IPO registrar.

As the IPO bidding concludes, the market eagerly awaits the listing of ASK Automotive, poised for a potential premium debut in the stock market. The strong subscription and positive GMP reflect investor confidence in the company's prospects.