Offer date: November 7-9, 2023
Price band: ₹268-282 per share
Lot size: 53 share
Reservation: 50% for QIBs, 35% for retail investors, 15% for NII
ASK Automotive is India's top brake shoe & braking systems manufacturer, supplying Hero MotoCorp, TVS, Bajaj. Expanding into 4-wheel & commercial vehicles.
ASK Automotive reports strong recent growth: FY23 saw a 8% YoY revenue increase to 656 crore and a 55% profit after tax surge to 35 crore.
Indian auto sector set to grow at 10-12% CAGR in 5 years. Increased income, urbanization, and government support for electric vehicles to fuel growth.
ASK Automotive faces competition from Minda Industries, Bosch, and Brembo. Its competitive advantage lies in scale, client relationships, and innovation focus
ASK Automotive, a market leader in Indian brake systems, poised for Indian auto industry growth. Caution: cyclical auto industry and heavy reliance on two-wheelers pose risks for investors.