ASK Automotive IPO: Check GMP, Subscription Status
ASK Automotive IPO: Till Thursday morning, the IPO has been subscribed 2.49 instances, receiving bids for five,14,75,932 shares in opposition to 2,06,99,974 shares on provide
ASK Automotive IPO: The preliminary public providing (IPO) of ASK Automotive is witnessing the ultimate day of bidding right now, November 9. The IPO, which opened for public subscription on November 7, was subscribed 1.34 instances on the second day of bidding on Wednesday. On Thursday until 11:21 am, the IPO has been subscribed 2.49 instances, receiving bids for five,14,75,932 shares in opposition to 2,06,99,974 shares on provide.
The class for non-institutional buyers bought subscribed 5.73 instances whereas the quota for retail particular person buyers (RIIs) was subscribed 2.48 instances subscription. The certified institutional consumers (QIBs) portion subscribed 0.07 per cent.
ASK Automotive IPO GMP Today
According to market observers, unlisted shares of ASK Automotive had been buying and selling Rs 50 larger within the gray market as in comparison with its situation worth. The Rs 50 gray market premium or GMP is about 17.73 per cent larger than its higher situation worth of Rs 282 per share. This means the gray market is anticipating a 17.73 per cent itemizing achieve from the general public situation.
‘Grey market premium’ signifies buyers’ readiness to pay greater than the problem worth.
About ASK Automotive IPO
The IPO is an Offer For Sale (OFS) of two,95,71,390 fairness shares by promoters — Kuldip Singh Rathee and Vijay Rathee.
Since the IPO is totally an OFS, the complete proceeds will go to shareholders divesting their shares.
ASK Automotive IPO worth band is ready at Rs 268-Rs 282 per share. The minimal lot measurement for an software is 53 shares. The minimal quantity of funding required by retail buyers is Rs 14,946.
ASK Automotive on Monday mentioned it has mobilised a bit over Rs 250 crore from anchor buyers. Gurugram-based ASK Automotive is among the largest producers of brake-shoe and superior braking techniques for 2-wheelers in India with a market share of about 50 per cent within the 2022 fiscal.
The agency provides security techniques and important engineering options with in-home designing, growing, and manufacturing capabilities. The firm has purchasers, together with TVS Motor Company Ltd, Hero MotoCorp, Greaves Electric Mobility and Bajaj Auto.
JM Financial Ltd, Axis Capital Ltd, ICICI Securities Ltd and IIFL Securities Ltd are the e-book-working lead managers to the problem. The fairness shares are proposed to be listed on the BSE and the NSE.
