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Deal: IPO by ASK Automotive Limited

01 Dec 2023

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Trilegal advised the book running lead managers on the IPO by ASK Automotive Limited (“Company”) aggregating to INR 8.34 billion.

The Company is the largest manufacturer of brake-shoe and advanced braking systems for two-wheelers in India and supplies its products to original equipment manufacturers including TVS Motor, Ather, Hero MotoCorp, Greaves Electric Mobility, Bajaj and Revolt.

The IPO witnessed strong investor response, as it was subscribed 51x, with the QIB category being subscribed 142x. The IPO was also anchored by marquee investors such as Nippon Life, ICICI Prudential, SBI Life, Neuberger Berman, Florida Retirement System, Societe Generale, and Morgan Stanley. The stock listed at an 8% premium.

The syndicate of book running lead managers comprised JM Financial Limited, Axis Capital Limited, ICICI Securities Limited, and IIFL Securities Limited.

The transaction is in continuation of our IPO expertise in the automotive and precision manufacturing sectors.

The team was led by Richa Chaudhary (Partner – Capital Markets) and comprised Ronak Chawla and Avanti Kale (Counsels), Maitreya Rajurkar (Senior Associate), Aayush Khandelwal, Shivayana Balodia, Kaaba Khan, and Mathangi K (Associates).

Media Link:

ASK Automotive IPO gets 51x bids | The Hindu BusinessLine

About Trilegal

Trilegal is one of India’s leading law firms, with expertise across the full spectrum of corporate legal services. Trilegal has offices in four key cities of India.

Trilegal has been recognised as the India Deal Firm of the Year by Asian Legal Business (ALB) India Law Awards 2023; one of the ‘Best Overall Law Firms’ at the India Business Law Journal Indian Law Firm Awards 2022; ‘Firm of the year’ for Client Service Excellence by Asia Law Awards 2021; “M&A Law firm of the Year” by VCCircle Awards 2020 one of the most innovative law firms in Asia in the inaugural edition of ALB Trailblazers 2020; and ‘highly commended’ in the FT RSG Innovative Lawyers Awards 2020.

For more information, please contact:

Sahil Wason
Mob: +91-8928008122 | BD@trilegal.com

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