ASK Automotive IPO debuts today opens at ₹303.30 with a listing gain of +7.55% at the time of writing it made a high of ₹314 which is +11.5% up from its issue price. The stock has been listed on both NSE (National Stock Exchange) and BSE (Bombay stock exchange). The upper circuit has been set at ₹333.16 while the lower circuit is set at ₹273 on NSE
ASK Automotive is one of the largest manufacturer of brake shoes and advanced braking systems, mainly for two wheelers, ASK Automotive IPO has a book-built issue of ₹834.00 crore. The IPO’s price band is was set at ₹268 to ₹282 per share with a lot size of 53 shares.
The Grey market premium for ASK Automotive was ₹30 which gave us a speculative listing price of ₹312, ASK Automotive opened lower than its Grey market premium at ₹303.30 but later price made a high of ₹314
The minimum investment of ASK Automotive IPO is ₹14,946. The investors can bid a minimum of 53 × 282= ₹14,946. People who got allotment in the IPO round made a profit of ₹1696 at ₹314 per share
ASK Automotive IPO GMP :
Following are the GMP of ASK Automotive IPO before listing :
| Date | GMP |
| November 14 | ₹30 |
| November 13 | ₹30 |
| November 12 | ₹50 |
| November 9 | ₹50 |
| November 8 | ₹45 |
| November 7 | ₹35 |
GMP (Grey Market Premium) IPO is an unregulated or an unofficial market where the traders either buy or sell the IPO shares before being officially launched in the stock exchange. The GMP of Ask Automotive IPO today is ₹30 so the listing could happen at ₹312 per share which is +10% higher than the issue price.
Allotment and Refund Dates:
ASK Automotive IPO shares has been allotted on November 10th 2023 and the refunds have already been initiated. The shares have already been credited to the Demat account and the stock has been listed today opened at ₹303.30 at +7% from its issue price.
Listing Date of ASK Automotive IPO:
The listing of ASK Automotive IPO was Today on November 15 , 2023 at both BSE and NSE exchange.
IPO Size of ASK Automotive IPO:
The IPO size of ASK Automotive was ₹833.91 crore.
Who are the Lead Managers of ASK Automotive IPO?
The lead managers of ASK Automotive IPO are JM Financial Limited, Axis Capital Limited, ICICI Securities Limited, and IIFL Securities Limited.
What are the Strengths of ASK Automotive IPO?
Being the largest manufacturer of braking systems for two wheelers and brake shoes, the company holds the market share of approximately 50% in 2023. Being the key manufacturer of SCC products and ALP solutions, the company has increased its turnover to ₹2555 crores in 2023.
As been a reputed business not only nationally but internationally, it has good customer relationships and bonds. It is estimated from the reviews the company received that it’s IPO can increase in the coming years.
What are the Risks of ASK Automotive IPO?
As the company has three main or dominating customers, contributing approximately 50% of their revenue, loss of any of these customers can lead to the massive failure and thus the IPO itself.
Checkout more such article on our Homepage
Make sure to Join our Whatsapp Channel for Latest Updates
