GURGAON, India — ASK Automotive Ltd has filed papers with the Securities Exchange Board of India (SEBI) its intention to sell 29,57 million shares of company stocks in an upcoming initial public offering (IPO) to raise funds.
The company’s goals for the IPO are to raise capital to further expand its operations, meet consistently changing needs of the automotive industry and expand overall operations.
The company offers a comprehensive range of products to original equipment manufacturers (OEMs) in the automotive sector. Its portfolio includes AB systems (anti-lock braking systems), ALP solutions (advanced lighting products), wheel assemblies, and SCC products (steering column components).
These products cater to various segments within the automotive industry, including two-wheelers, three-wheelers, passenger vehicles, and commercial vehicles.
In addition to serving the automotive sector, the company also extends its products to non-automotive sectors such as all-terrain vehicles, power tools, and outdoor equipment. This diversification allows the company to reach a broader customer base and meet the diverse needs of its clients.
The company has established itself as a trusted supplier to several prominent clients in the automotive industry. Some of its notable clients include TVS Motor Company Limited, Ather Energy, Hero MotoCorp, Greaves Electric Mobility, Bajaj Auto, and Revolt Intellicorp. These partnerships demonstrate the company’s ability to collaborate with major players in the industry.
To ensure efficient production and supply chain management, the company operates 15 manufacturing facilities strategically located across India. These facilities are situated near OEM customers, which helps in reducing transportation costs and lead times.
Additionally, the company is in the process of establishing a new manufacturing facility in Rajasthan. This expansion is aimed at meeting the growing market demand and further strengthening their manufacturing capabilities.
Overall, the company’s wide product range, diverse customer base, and strategic manufacturing facilities contribute to their success in the automotive industry.
About ASK Automotive:
ASK Automotive Pvt. Ltd. is a supplier of automobile friction products and vehicle braking systems. It specializes in friction products, aluminum die casting products, and safety control cables for automotive OEMs.