ASK IPO listing: ASK Automotive share price makes lukewarm debut, stock lists at 7.6% premium at ₹303.30 on NSE

ASK Automotive IPO price band was fixed in the range of ₹268 to ₹282 per equity share of face value of ₹2. ASK Automotive IPO lot size was 53 equity shares and in multiples of 53 equity shares thereafter. ASK IPO opened for subscription on Tuesday, November 7, and closed on Thursday, November 9.

Also Read: ASK Automotive IPO listing date today. GMP, experts predict ‘decent’ debut of shares

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On day 3, ASK IPO subscription status was 51.14 times with strong response from Qualified Instituitional Buyers (QIBs) and Non-Institutional Buyers (NIIs). Ask Automotive IPO retail investors portion was subscribed 5.70 times, NII portion was subscribed 35.47 times, and Qualified Institutional Buyers (QIB) portion was booked 142.41 times.

On day 2, ASK Automotive IPO was subscribed 1.34 times, and on day 1, the issue was subscribed 38%.

Also Read: ASK Automotive IPO shares to list tomorrow; latest GMP, what to expect from listing?

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: GMP, subscription status on day 2, review, other details. Should you apply or not?

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 IPO GMP today or grey market premium is +28. This indicates ASK Automotive share price were trading at a premium of ₹28 in the grey market on Wednesday, according to investorgain.com. Its was similar to the previous two trading sessions.

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 ₹310 apiece, which is 9.93% 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: 15 Nov 2023, 10:00 AM IST