ASK Automotive IPO has reserved not more than 50% of the shares in the public issue for Qualified Institutional Buyers (QIB), not less than 15% for Non Institutional Investors (NII), and not less than 35% of the offer is reserved for Retail Investors.
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On day 2, Ask Automotive IPO retail investors portion was subscribed 1.68 times, NII portion was subscribed 2.27 times, and Qualified Institutional Buyers (QIB) portion was booked 6%.
Also Read: ASK Automotive IPO day 1: Issue subscribed 38%, retail portion booked 56%
ASK IPO Subscription Status
Ask Automotive IPO has received bids for 2,78,06,662 shares against 2,06,99,974 shares on offer, at 17:00 IST, according to data from the BSE.
ASK IPO retail investors’ portion received bids for 1,73,74,672 shares against 1,03,49,987 shares on offer for this segment.
Ask Automotive IPO’s non-institutional investors’ portion received bids for 1,00,77,102 shares against 44,35,709 on offer for this segment.
ASK IPO’s Qualified Institutional Buyers (QIBs) portion received bids for 3,54,888 shares against 59,14,278 shares on offer for this segment.
ASK Automotive IPO details
The total offer size of up to 29,571,390 equity shares with a face value of ₹2 each is being offered by Kuldip Singh Rathee up to 20,699,973 equity shares and Vijay Rathee (promoter selling stockholders) up to 8,871,417 equity shares.
The offer’s book running lead managers are JM Financial Limited, Axis Capital Limited, ICICI Securities Limited, and IIFL Securities Limited. Link Intime India Private Ltd is the registrar for the issue.
Also Read: ASK Automotive IPO opens on November 7, price band set at ₹268-282 per share
As per red herring prospectus (RHP), the company’s comparable listed peer are Endurance Technologies Ltd (with P/E of 46.36), Uno Minda Ltd (with P/E of 52.59), Suprajit Engineering Ltd (with P/E of 35.49), and Bharat Forge Ltd (with P/E of 98.86).
ASK Automotive IPO GMP today
ASK Automotive IPO GMP today or grey market premium is +50. This indicates ASK Automotive share price were trading at a premium of ₹50 in the grey market on Wednesday, according to investorgain.com. Its down from yesterday’s GMP, which was +55.
Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of ASK Automotive share price was indicated at ₹332 apiece, which is 17.73% higher than the IPO price of ₹282.
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
Also Read: ASK Automotive IPO opens tomorrow: GMP, issue details, review, 10 key things to know
Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before taking any investment decisions.
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Updated: 08 Nov 2023, 05:16 PM IST
