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ASK Automotive raises Rs.250-Cr from 25 anchor investors

Economic TImes  

Gurugram-based auto ancillary player ASK Automotive has mobilised INR 250 crore from anchor investors ahead of its initial share sale which opens for public subscription today. The company has allotted 88.71 lakh equity shares to 25 funds at INR 282 apiece, which is also the upper end of the price band, garnering INR 250.17 crore from anchor investors. Morgan Stanley Asia (Singapore) Pte, Copthall Mauritius Investment Ltd, BNP Paribas Arbitrage, Societe Generale, Goldman Sachs Fund, SBI Life Insurance Company, ICICI Prudential Life Insurance Company, Bajaj Allianz Life Insurance Company, Nippon India Mutual Fund (MF), Tata MF and Edelweiss MF are among the anchor investors. The IPO is an offer for sale (OFS) of 2,95,71,390 equity shares by promoters -- Kuldip Singh Rathee and Vijay Rathee. JM Financial Ltd, Axis Capital Ltd, ICICI Securities Ltd, and IIFL Securities Ltd are the book-running lead managers to issue. The equity shares are proposed to be listed on the BSE and the NSE.