Shardul Amarchand Mangaldas advised ASK Automotive Limited on its Initial public offering aggregating to ₹ 8339.13 million

November 15, 2023

Shardul Amarchand Mangaldas advises ASK Automotive Limited (“Issuer”) on its initial public offering of 29,571,390 equity shares each aggregating to ₹ 8,339.13 million, comprising an offer for sale of 20,699,973 equity shares aggregating to ₹ 5,837.39 million by Kuldip Singh Rathee and 8,871,417 equity shares aggregating to ₹ 2,501.74 million by Vijay Rathee (the promoter selling shareholders). The deal was valued approximately at ₹ 8339.13 million, and the equity shares of the Issuer were listed on the BSE and NSE on 15 November 2023.

The IPO was subscribed over 51.14 times, overall. The qualified institutional buyer’s component was subscribed over 142.41 times and the non-institutional buyer’s component was subscribed over 35.47 times.

The Capital Markets team was led by Prashant Gupta, Partner, NP Head – Capital Markets; Abhiroop Amitava Datta, Partner; Sanjeev Chowdhary, Senior Associate; Sridutt Mishra, Associate; and Divya Dhawan, Associate.