ASK Automotive Ltd

(ASKAUTOLTD)

ASK Automotive Ltd was incorporated on January 18 1988 as a Private Limited Company with the name ASK Automotive Private Limitedgranted by the RoC. Upon the conversion of Company into a Public Limited the name of Company was changed to ASK Automotive Limited through a fresh Certificate of Incorporation dated January 6 2023 issued by the RoC.Led by the Promoters Kuldip Singh Rathee and Vijay Rathee the Company has been supplying safety systems and critical engineering solutions with inhouse designing developing and manufacturing capabilities. Their offerings are powertrain agnostic catering to electric vehicle EV as well as internal combustion engine ICE original equipment manufacturers OEMs. The Company operate nearly 15 manufacturing facilities across five states in India and are are developing one new manufacturing facility in Rajasthan as well. In addition the Joint Venture operates one manufacturing facility in Haryana.The Company commenced their operations in 1989 by manufacturing brake shoe products for twowheelers 2Ws and have since diversified the operations to include offerings such as: i advanced braking AB systems ii aluminium lightweighting precision ALP solutions iii wheel assembly to 2W OEMs and iv safety control cables SCC products that it supply in i the automotive sector for 2Ws three wheelers 3Ws passenger vehicles PVs and commercial vehicles CVs and ii the nonautomotive sector for allterrain vehicles ATVs power tools and outdoor equipment.In 1989 the Company started manufacturing activities at ASK1 situated at Gurugram plant in Haryana. It ventured into the OEM market for Advanced Braking AB systems consisting of brake shoes. In 2001 it commenced manufacturing activities at ASK2 plant in Gurugram in 2004 it started manufacturing plant at ASK 3 in IMT Manesar Haryana and entered into the OEM market for ALP with panel assembly for front brake.Later on the Company commenced manufacturing activities of ASK4 plant in IMT Gurugram Haryana in 2010 ASK5 plant in Haryana ASK7 manufacturing facility in IMT Manesar in 2012 commenced manufacturing facility ASK8 in Narsapur Indl. Area in Bengaluru Karnataka in year 2013.In 2014 the Company started manufacturing facility ASK9 situated at Sector 8 Manesar Haryana commenced manufacturing activities ASK10 situated in IMT Manesar Gurugram. In 2015 commenced manufacturing activities ASK11 situated in Ahmedabad Gujarat and thereafter had ventured into the aftermarket for safety control cables and others with clutch cables front brake cables throttle cables and speedometer cables.The Company in 2017 formed a Joint Venture with FrasLe S.A. Brazil through which ASK FrasLe Friction Private Limited was incorporated as the Joint Venture. In 2018 the Company through a business purchase agreement dated March 26 2018 with AK Auto Industries and Aman Rathee acquired the entire business of independent aftermarket sale of two wheeler/three wheeler brake products of AK Auto Industries including the manufacturing facility ASK14 on a slump sale basis and resultant the ASK14 manufacturing plant was transferred to Company by AK Auto Industries. The Company through a business purchase agreement dated March 26 2018 with APK Automotive and Prashant Rathe acquired the entire business of independent aftermarket sale of two wheeler/three wheeler brake products of APK Automotive including the manufacturing facility ASK15 on a slump sale basis and resultant the ASK15 manufacturing plant was transferred to Company by APK Automotive which became effective on April 1 2018.In year 2019 the Company resumed manufacturing activities at plant ASK12 situated in IMT Manesar. Therafter on May 3 2019 through composite scheme of arrangement/amalgamation and demerger between the Company A.A. Autotech Private Limited and Vijaylaxmi Infra Projects Private Limited A.A. Autotech Private Limited amalgamated into the Company and the erstwhile real estate and project management consultancy business of Company demerged into Vijaylaxmi Infra Projects Private Limited consequently the ASK16 and ASK17 manufacturing facilities both situated in IMT Manesar Haryana got transferred to the Company from A.A. Autotech Private Limited as a going concern effective from June 3 2019.The Company is proposing an Initial Public Offering of upto 29571390 Equity Shares for cash through Offer for Sale..

Share Price: ₹432.55 per share as on 22 Nov, 2024 04:01 PM
Market Capitalisation: ₹8,666.39Cr as of today
Revenue: ₹973.86Cr as on September 2024 (Q3 24)
Net Profit: ₹67.28Cr as on September 2024 (Q3 24)
Listing date: 15 Nov, 2023
Chairperson Name: KULDIP SINGH RATHEE