ASK Automotive IPO subscribed over 20 times so far; QIB portion booked 47x

ASK Automotive is a manufacturer of Advance Braking Systems for two-wheelers in India. The company supplies its products to Original Equipment Manufacturers and has 15 manufacturing units spread across five states in India. 

Read here: ASK Automotive IPO: Check out 10 key things to know from RHP before investing

Let us check ASK Automotive IPO subscription status, GMP and other key details:

ASK Automotive IPO Subscription Status

ASK Automotive IPO has been subscribed 20.79 times so far on Thursday, the third and the last day of the bidding process. The public issue received bids for 43.02 crore equity shares as against 2.06 crore shares on the offer, as per data available on NSE at 2:20 pm.

The public issue subscribed 4.02 times in the retail category, 47.89 times in Qualified Institutional Investors’ (QIB) category, and 23.78 times in the Non-Institutional Investors’ (NII) category so far.

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ASK Automotive IPO GMP Today

ASK Automotive IPO GMP today, or grey market premium today, has dropped to ₹45 per share, as per market observers. This shows that the equity shares of ASK Automotive are trading at a premium of ₹45 apiece in the grey market. 

The estimated ASK Automotive share listing price, after taking into consideration the GMP today and the issue price, would be ₹327 per share, indicating a premium of nearly 16% to the issue price of ₹282 per share.

Also Read: TBO Tek IPO: Firm files DRHP with SEBI to raise ₹400 crore, offer for sale for 1.56 crore shares

ASK Automotive IPO Details

ASK Automotive IPO opened for subscription on November 7 and will close on November 9.

ASK Automotive IPO price band is fixed at ₹268 to ₹282 per share. At the upper end of the price band, the company plans to raise ₹834 crore from the public issue which is entirely an offer for the sale of 2.96 crore equity shares.

The IPO lot size is 53 shares and the minimum investment amount required by retail investors is ₹14,946. 

JM Financial, Axis Capital, ICICI Securities and IIFL Securities are the book running lead managers for the ASK Automotive IPO, while Link Intime India Private Ltd is the IPO registrar.

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Updated: 09 Nov 2023, 02:29 PM IST