ASK Automotive IPO: Bumper opportunity to earn this Diwali, this IPO will open soon, many big names are included among the customers.

Despite the recent slowdown in the market, the activities regarding IPO remain intense. Due to this, stock market investors are getting continuous earning opportunities. The IPO market is going to be buzzing in the coming days also, because many great companies are in the queue to launch IPO.

SEBI has given the green signal

IPO. A prominent name among the companies standing in the queue to launch is ASK Automotive Limited. The IPO of ASK Automotive Limited may be launched in the market soon. The company has already received the green signal for the IPO from market regulator SEBI. The company had filed the draft of IPO i.e. DRHP with SEBI on June 12, which got approval from the market regulator this month.

Sale of so many shares in IPO

ASK Automotive Limited According to the draft, only offer for sale is going to be part of the proposed IPO. In the IPO, the promoters of the company are going to put 2.95 crore shares for sale through Offer for Sale. According to DRHP, with the help of Offer for Sale, promoters Kuldeep Singh Rathi and Vijay Rathi will reduce their stake.

These two promoters are reducing stake

Currently in ASK Automotive Limited Kuldeep Singh Rathi has the maximum stake of 41.33 percent. Whereas Vijay Rathi holds 32.3 percent shares of the company. In the offer for sale, Kuldeep Rathi is going to sell 2,06,99,973 shares, while Vijay Rathi is going to sell 88,71,417 shares. In this way, both the promoters together are going to sell a total of 2,95,71,390 shares in OFS.

The company will not get the amount

Since the IPO of ASK Automotive Limited is completely offer for sale. In such a situation, nothing is going to go into the company’s fund from the amount received from the IPO. The money received from the IPO will go to the accounts of both the promoters Kuldeep Rathi and Vijay Rathi. JM Financial, Axis Capital, ICICI Securities and IIFL Securities have been made book-running lead managers for the IPO.

The company has not yet announced the price band and dates of the IPO. However, market experts say that after getting the regulatory approval, the company can launch the IPO around Diwali.

This is the business of the company

Talk about ASK Automotive If you do, the profile of the company is much better. The company dominates the market of brake shoes and advanced braking systems. In the case of two-wheelers, the company holds 50 percent market share of brake-shoes and advanced braking systems. The company’s revenue has grown at the rate of 30 percent annually during the last two financial years.

Thus dominating the market

Many renowned companies of India and abroad are among the customers of ASK Automotive. Are included. The company’s customers include Hero MotoCorp, Honda Motorcycle & Scooter India, Bajaj Auto, TPS Motor and Suzuki Motorcycle India, which are India’s top-5 two-wheeler companies. Apart from them, electric two-wheeler companies like Ola Electric to Ather are also included among the customers of ASK Automotive.

Also read: Upper circuit every day for 10 days, investors of this IPO got 150% return in 3 weeks.