ASK Automotive Limited IPO

Incorporated in 1988, ASK Automotive Limited is a manufacturer of Advance Braking Systems for two-wheelers in India.

The product range of the company includes (I) AB systems; (ii) aluminium lightweight precision(“ALP”) (iii) wheel assembly to 2W OEMs; and (iv) safety control cables (“SCC”). The company operates in India as well as overseas.

As of June 2023, the company has 15 manufacturing units spread across five states in India. ASK Automotive supplies to Original Equipment Manufacturers like HMSI, HMCL, Suzuki, TVS, Yamaha, Bajaj, Royal Enfield, Denso, Magneti Marelli, and others. It also provides to the independent aftermarket and the export market through its manufacturing facilities located in different parts of the country.

The company’s manufacturing facilities have world-class certifications in quality and safety including IATF 16949:2016, ISO 9001:2015, ISO 14001:2015, and ISO 45001:2018.

 

ASK Automotive Limited Financial Information (Restated Consolidated)

ASK Automotive Limited’s revenue increased by 26.78% and profit after tax (PAT) rose by 48.75% between the financial year ending with March 31, 2023 and March 31, 2022.

Period Ended30 Jun 202331 Mar 202331 Mar 202231 Mar 2021
Assets1,443.341,281.211,105.56948.25
Revenue657.552,566.282,024.261,567.77
Profit After Tax34.83122.9582.66106.20
Net Worth 643.77631.91622.23
Reserves and Surplus639.03604.34591.73581.54
Total Borrowing268.03231.82119.7854.02
Amount in ₹ Crore

Objects of the Issue (ASK Automotive IPO Objectives)

The company will not receive any proceeds from the Offer and all the Offer Proceeds will be received by the Selling Shareholders, in proportion to the Offered Shares sold by the respective Selling Shareholders as part of the Offer.

ASK Automotive IPO Timeline (Tentative Schedule)

ASK Automotive IPO opens on November 7, 2023, and closes on November 9, 2023.

IPO Open DateTuesday, November 7, 2023
IPO Close DateThursday, November 9, 2023
Basis of AllotmentWednesday, November 15, 2023
Initiation of RefundsThursday, November 16, 2023
Credit of Shares to DematFriday, November 17, 2023
Listing DateMonday, November 20, 2023
Cut-off time for UPI mandate confirmation5 PM on November 9, 2023

SHARIAH SCREENING for - ASK Automotive Limited IPO

BUSINESS SCREEN

FINANCIAL RATIOS

As per our analysis and Based on the information we have, this is the output.
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