New Delhi, November 9 (Language) ASK Automotive received 51.14 times subscription on the third and last day of bidding for its initial public offering (IPO) on Thursday.
According to National Stock Exchange (NSE) data, bids were received for 1,05,85,92,956 shares against the offer of 2,06,99,974 shares under the Rs 833.91 crore IPO.
The retail individual investors (RII) category was subscribed 5.70 times. The portion of non-institutional investors was subscribed 35.47 times and that of qualified institutional buyers (QIB) category by 142.41 times.
The IPO was an offer for sale (OFS) of 2,95,71,390 equity shares by the promoters – Kuldeep Singh Rathi and Vijay Rathi, so the entire proceeds from the issue will go to the shareholders and the company will not get any funds from it.
The Gurugram-based company had raised Rs 250 crore from anchor i.e. big investors.
The price range under the issue is Rs 268-282 per share.
Language Anurag Ajay