ASK Automotive IPO: What’s the Buzz?

Hey there, did you hear about the ASK Automotive IPO? It’s making some waves in the market! The subscription status on day 2 is looking pretty good, with 71% of the IPO being subscribed. Retail investors have fully subscribed their portion, and the NII portion is at 89%. The Qualified Institutional Buyers (QIB) portion, however, is at 3%. The IPO has received bids for 1,46,43,688 shares against 2,06,99,974 shares on offer. The price band for the IPO is between ₹ 268 to ₹ 282 per equity share, and the lot size is 53 equity shares. The offer’s book running lead managers are JM Financial Limited, Axis Capital Limited, ICICI Securities Limited, and IIFL Securities Limited. The IPO has reserved shares for different types of investors, and it has accumulated over ₹ 250 crore from anchor investors.

The grey market premium (GMP) for ASK Automotive IPO is +54, indicating that the share price is trading at a premium of ₹ 54. This suggests that investors are willing to pay more than the issue price. The estimated listing price of ASK Automotive share price is indicated at ₹ 336 apiece, which is 19.15% higher than the IPO price of ₹ 282.

In terms of reviews, Reliance Securities recommends subscribing to the issue, citing the company’s competent management, rapid expansion, and effective capital utilization. Swastika Investmart Ltd also gives a Subscribe rating to the IPO, highlighting ASK’s dominant market share and strong ties with leading two-wheeler manufacturers. However, both brokerages mention certain risks associated with the company.

So, what do you think? Are you considering investing in the ASK Automotive IPO? Let me know your thoughts!