ASK Automotive IPO opens today: Should you subscribe to the issue?
ASK Automotive has 15 manufacturing units spread across five states in India as of June 2023. ASK Automotive supplies to original equipment manufacturers.
- Nov 7, 2023,
- Updated Nov 7, 2023 10:30 AM IST
The bidding for ASK Automotive's Rs 834 crore-initial public offering (IPO) kicks off on Tuesday, November 7. The auto-ancillary player is offering its shares in the price band of Rs 268-Rs 282 apiece with a lot size of 53 equity shares. The issue will close for bidding on Thursday, November 9. The advanced braking systems market is estimated at Rs 5,429.9 crore in FY23. The company’s strategic focus to strengthen its position in the EV market and leverage its experience in developing AB systems and ALP solutions is helping them develop new products for OEMs, said StoxBox by BP Equities. This has enabled the company to achieve further weight reduction, enhanced performance and improved vehicle acceleration via high-performance driveline products and improved efficiencies, positioning it firmly in the market. On the valuation front, the issue is valued at a P/E of 39.8 times on the upper price band based on Q1FY24 annualised earnings, it said with a 'subscribe' tag.
Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.
Also read: JP Power Jaiprakash Associates, Reliance Power shares top volume chart; Honasa sees high turnover
The bidding for ASK Automotive's Rs 834 crore-initial public offering (IPO) kicks off on Tuesday, November 7. The auto-ancillary player is offering its shares in the price band of Rs 268-Rs 282 apiece with a lot size of 53 equity shares. The issue will close for bidding on Thursday, November 9. The advanced braking systems market is estimated at Rs 5,429.9 crore in FY23. The company’s strategic focus to strengthen its position in the EV market and leverage its experience in developing AB systems and ALP solutions is helping them develop new products for OEMs, said StoxBox by BP Equities. This has enabled the company to achieve further weight reduction, enhanced performance and improved vehicle acceleration via high-performance driveline products and improved efficiencies, positioning it firmly in the market. On the valuation front, the issue is valued at a P/E of 39.8 times on the upper price band based on Q1FY24 annualised earnings, it said with a 'subscribe' tag.
Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.
Also read: JP Power Jaiprakash Associates, Reliance Power shares top volume chart; Honasa sees high turnover