Auto ancillary company ASK Automotive mopped up Rs 250.2 crore by selling shares via anchor book on November 6, a day before the issue opening.
A total of 25 investors participated in the anchor book including marquee names such as Morgan Stanley, Goldman Sachs, Neuberger Berman, Florida Retirement System, Integrated Core Strategies, BNP Paribas Arbitrage, Societe Generale, and Copthall Mauritius Investment.
Domestic institutions including Nippon Life India, ICICI Prudential Mutual Fund, SBI Life Insurance Company, Tata Mutual Fund, ICICI Prudential Life Insurance Company, Canara Robeco Mutual Fund, Abakkus Diversified Alpha Fund, Edelweiss Trusteeship, and Bajaj Allianz Life Insurance Company also picked stake in the company.
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"... finalised allocation of 88,71,416 equity shares to anchor investors, at Rs 282 per equity share," ASK Automotive said in its filing to exchanges.
It further said five mutual funds have applied through a total of six schemes.
The company that specialises in advanced braking systems for the two-wheeler segment will open its Rs 834-crore initial public offering on November 7, with a price band at Rs 268-282 per share.
The IPO, which will close on November 9, consists of only an offer-for-sale by promoters Kuldip Singh Rathee and Vijay Rathee. Hence, the company will not receive any money from the public issue, and the entire funds, excluding IPO expenses, will go to the Rathee family.
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With 15 manufacturing facilities across five states in India, ASK Automotive, the largest manufacturer of brake-shoe and advanced braking (AB) systems for two-wheelers in India, also specialises in aluminium light-weighting precision solutions, wheel assembly, and safety control cables products, serving both the automotive and non-automotive sectors.
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