India's ASK Automotive, one of the country's largest manufacturers of advanced braking systems for two-wheelers, is set to launch its initial public offering (IPO) on November 7, 2023. This move follows the recent IPOs of ESAF Small Finance Bank and Protean eGov Technologies.
The IPO, managed by JM Financial Ltd, will offer more than 295 million equity shares owned by Kuldip Singh Rathee and Vijay Rathee. The offer period extends from November 6 to November 9, with all proceeds going to the selling shareholders.
ASK Automotive's client base includes prominent names in the two-wheeler industry such as TVS Motor Company Ltd, Hero MotoCorp, Bajaj Auto, and Greaves Electric Mobility. The company's forthcoming IPO was outlined in the Red Herring Prospectus (RHP).
InvestingPro Insights
As ASK Automotive prepares for its IPO, it's essential to consider some key metrics and tips from InvestingPro. Firstly, ASK Automotive has consistently increased its earnings per share, a positive indicator for potential investors. This trend is a strong sign of the company's financial health and growth potential.
Secondly, ASK Automotive has managed to raise its dividend for three consecutive years, which is a testament to its successful financial management. It's also noteworthy that the company has maintained dividend payments for nine consecutive years.
In terms of real-time data, the company's stock generally trades with low price volatility. This stability is an attractive feature for investors who prefer less risk. Additionally, ASK Automotive is a prominent player in the Machinery industry, further solidifying its position in the market.
Lastly, analysts predict that ASK Automotive will be profitable this year. This forecast, combined with the fact that the company has been profitable over the last twelve months, adds further credibility to the company's financial standing.
For more insightful tips, consider exploring the InvestingPro platform, which features numerous additional tips to guide your investment decisions.
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