ASK Investment Managers – Mumbai-based asset & Wealth management company has submitted DRHP (Draft Red Herring Prospectus) with the market regulator SEBI (The Securities and Exchange Board of India) to raise funds INR 2,000 crore through its IPO (initial public offering).

The fresh issue comprises a fresh issue of equity shares worth up to INR 600 crore & an offer for sale around 13,569,405 equity shares by an investor AI Global & 4,400,000 shares by a promoter Sameer Kotecha. The company that caters to the HNI & ultra HNI market in our country is likely to increase a fund around INR 2,000 crore through a public offering.

The company will utilize the issue proceeds towards investment in the subsidiary for augmenting the capital base for NBFC business & general corporate purposes. JM Financial, Citigroup Global Markets India, Axis Capital & Nomura Financial Advisory & Securities India are the lead managers to the fresh issue.