ASK Automotive is a maker of aluminum die casting components and various parts for scooters motorcycles & commercial vehicles. Now, it plans to launch an Initial Public Offer (IPO) next year to increase the fund INR 1,000 to INR 1,200 Crore, as per investment banking sources.

The merchant bankers ICICI Securities & Investec are appointed for this Initial Public Offering. According to a source, this IPO will comprise the primary shares + some secondary sale. The promoters of ASK Automotive were close to selling the stake to the strategic investor but at the last moment decided to launch the OPO and take the company public.

About Ask Automotive:

It was founded by the managing director and incumbent chairman KS Rathee. Today, the turnover of this company is nearly about INR 2,000 crore. The company was founded back 29 years and headquartered at Gurugram in Hariyana. The products are brake shoes, clutches, brake pads and brake assemblies and more.

The customers of ASK Automotive include Honda Motorcycle, Scooter India, Maruti Suzuki, Hero Motocorp, Yamaha, TVS, Mahindra & Mahindra, Bajaj Auto & Denso.