Morgan Stanley Asia (Singapore) Pte, Copthall Mauritius Investment Ltd, BNP Paribas Arbitrage, Societe Generale, Goldman Sachs Fund, SBI Life Insurance Company, ICICI Prudential Life Insurance Company, Bajaj Allianz Life Insurance Company, Nippon India Mutual Fund (MF), Tata MF and Edelweiss MF are among the anchor investors. The IPO is an offer for sale (OFS) of 2,95,71,390 equity shares by promoters — Kuldip Singh Rathee and Vijay Rathee.
Since the IPO is completely an OFS, the entire proceeds will go to shareholders divesting their shares.
The issue, with a price band of Rs 268-282 per equity share, will be open for subscription during November 7-9. At the upper end of the price band, the IPO is expected to fetch Rs 833.91 crore.
Gurugram-based ASK Automotive is one of the largest manufacturers of brake-shoe and advanced braking (AB) systems for two-wheelers in India with a market share of approximately 50 per cent in Fiscal 2022. The firm supplies safety systems and critical engineering solutions with in-house designing, developing, and manufacturing capabilities. Its offerings are powertrain agnostic, catering to electric vehicles (EV) as well as internal combustion engine original equipment manufacturers.
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