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ASK Automotive Limited: Initial Public Offer to open on November 07, 2023

National, November 02, 2023: ASK Automotive Limited (“ASK” or the “Company”), shall open its Bid / Offer in relation to its initial public offer of Equity Shares on Tuesday, November 07, 2023.

The Anchor Investor Bidding Date shall be Monday, November 06, 2023. The Bid/Offer will open on Tuesday, November 07, 2023 for subscription and will close on Thursday, November 09, 2023.

The Price Band of the Offer has been fixed at₹ 268 to ₹ 282 Per Equity Share. Bids can be made for a minimum of 53 Equity Shares and in multiples of 53 Equity Shares thereafter.

The total offer size of up to 29,571,390 Equity Shares of face value ₹ 2 each comprises of up to 20,699,973 equity shares by Kuldip Singh Rathee and up to 8,871,417 equity shares by Vijay Rathee (“promoter selling shareholders”) (the “offer for sale” or the “offer”).

This Equity Shares are being offered through the red herring prospectus of the Company dated October 30, 2023 filed with Registrar of Companies, Delhi and Haryana at New Delhi (the “RHP”) and are proposed to be listed on the BSE Limited (“BSE”) and the National Stock Exchange of India Limited (“NSE”).

The Offer is being made in terms of Rule 19(2)(b) of the Securities Contracts (Regulation) Rules, 1957, as amended (the “SCRR”), read with Regulation 31 of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended (“SEBI ICDR Regulations”). The Offer is being made through the Book Building Process in accordance with Regulation 6(1) of the SEBI ICDR Regulations wherein not more than 50% of the Offer shall be available for allocation on a proportionate basis to Qualified Institutional Buyers (“QIBs”) (the “QIB Portion”), provided that our Company and the Promoter Selling Shareholders, in consultation with the BRLMs, may allocate up to 60% of the QIB Portion to Anchor Investors and the basis of such allocation will be on a discretionary basis by our Company and the Promoter Selling Shareholders, in consultation with the BRLMs, in accordance with the SEBI ICDR Regulations (the “Anchor Investor Portion”), of which one-third shall be reserved for domestic Mutual Funds, subject to valid Bids being received from the domestic Mutual Funds at or above the price at which allocation is made to Anchor Investors (“Anchor Investor Allocation Price”).

Further, 5% of the Net QIB Portion shall be available for allocation on a proportionate basis only to Mutual Funds, subject to valid Bids being received at or above the Offer Price, and the remainder of the Net QIB Portion shall be available for allocation on a proportionate basis to all QIBs (other than Anchor Investors), including Mutual Funds, subject to valid Bids being received at or above the Offer Price.

Further, not less than 15% of the Offer shall be available for allocation to Non-Institutional Investors (“Non-Institutional Category”) of which one-third of the Non-Institutional Category shall be available for allocation to Bidders with an application size of more than ₹ 200,000 and up to ₹ 1,000,000 and two-thirds of the Non-Institutional Category shall be available for allocation to Bidders with an application size of more than ₹ 1,000,000 and under-subscription in either of these two subcategories of Non-Institutional Category may be allocated to Bidders in the other sub-category of Non-Institutional Category in accordance with the SEBI ICDR Regulations, subject to valid Bids being received at or above the Offer Price.

Further, not less than 35% of the Offer shall be available for allocation to Retail Individual Investors (“Retail Category”), in accordance with the SEBI ICDR Regulations, subject to valid Bids being received from them at or above the Offer Price.

All Bidders (except Anchor Investors) shall mandatorily participate in this Offer only through the Application Supported by Blocked Amount (“ASBA”) process and shall provide details of their respective bank account (including UPI ID in case of UPI Bidders) in which the Bid Amount will be blocked by the Self Certified Syndicate Banks (“SCSBs”) or the Sponsor Banks, as the case may be. Anchor Investors are not permitted to participate in the Anchor Investor Portion through the ASBA process. For details, see “Offer Procedure” beginning on page 450 of the RHP.

JM Financial Limited, Axis Capital Limited, ICICI Securities Limited and IIFL Securities Limited are the Book Running Lead Managers to the offer.

All capitalised terms used herein but not defined shall have the same meaning as ascribed to them in the RHP.

Disclaimer:

ASK Automotive Limited, is proposing, subject to applicable statutory and regulatory requirements, receipt of requisite approvals, market conditions and other considerations, to make an initial public offering of its Equity Shares and has filed the red herring prospectus dated October 30, 2023 (“RHP”) with the Registrar of Companies, Delhi and Haryana at New Delhi, Delhi (“RoC”). The RHP shall be available on the website of the Company at www.askbrake.com/inspection-material-document1, the website of the SEBI at www.sebi.gov.in, websites of the book running lead managers JM Financial Limited at www.jmfl.com, Axis Capital Limited at www.axiscapital.co.in, ICICI Securities Limited at www.icicisecurities.com, IIFL Securities Limited at www.iiflcap.com and websites of the Stock Exchanges i.e. BSE and NSE at www.bseindia.com and www.nseindia.com, respectively, Potential Investors should note that investment in equity shares involves a high degree of risk. For details, potential investors should refer to the RHP which has been filed with the RoC, including the section titled “Risk Factors”. Potential investors should not rely on the DRHP filed with the SEBI in making any investment decision.

The Equity Shares offered in the Offer have not been and will not be registered under the U.S. Securities Act of 1933, as amended (“U.S. Securities Act”), or any state law of the United States and, unless so registered, may not be offered or sold within the United States, except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the U.S. Securities Act and applicable state securities laws. Accordingly, such Equity Shares are being offered and sold, outside of the United States in offshore transactions in reliance on Regulation S under the U.S. Securities Act and the applicable laws of the jurisdiction where those offers and sales occur; there will be no offering of the Equity Shares in the United States.

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