ASK Automotive fixes IPO price band at Rs 268-282/ share

New Delhi: Auto ancillary player ASK Automotive on Thursday fixed the price band at Rs268-282 per equity share for its Rs834 crore Initial Public Offering (IPO). The maiden public issue will be opening for subscription during November 7-9. The anchor book of the offer will be opened for a day on November 6, the company said.

This will be the third such issue opening in November, after ESAF Small Finance Bank, and Protean eGov Technologies. ASK Automotive’s IPO is an Offer-For-Sale (OFS) of 2,95,71,390 equity shares by promoters Kuldip Singh Rathee and Vijay Rathee. Since the IPO is an OFS, the entire proceeds will go to the selling shareholders and the company will not receive any funds from the issue. At the upper end of the price band, the IPO is expected to fetch Rs 833.91 crore.