The Securities and Exchange Board of India (SEBI) has given the nod to initial public offerings (IPOs) for ASK Automotive, ESAF Small Finance Bank, and Cello World on Tuesday. The registration process for these IPOs will be managed by Link Intime India.
ASK Automotive is set to launch an IPO of 2.95 crore equity shares through an offer for sale (OFS) by promoters Kuldip Singh Rathee and Vijay Rathee. The company holds a dominant position in the two-wheeler braking systems market, maintaining a 50% share and supplying top original equipment manufacturers (OEMs) in India. According to InvestingPro Tips, ASK Automotive is a prominent player in the Automobile Components industry and has been consistently increasing its earnings per share. The company also yields a high return on invested capital and holds more cash than debt on its balance sheet. The issue is being managed by JM Financial, Axis Capital (NYSE:AXS), ICICI Securities, and IIFL Securities. For more insights, visit InvestingPro which provides additional tips for ASK Automotive.
ESAF Small Finance Bank plans to raise Rs 629.04 crore from its IPO, which includes fresh shares worth Rs 486.74 crore and an OFS of Rs 142.3 crore. The primary goal of this move is to strengthen its Tier–I capital base. Currently, the majority of ESAF shares are held by its promoters (74.43%), with the remaining stake held by public shareholders. InvestingPro Tips indicates that the bank holds more cash than debt on its balance sheet and has strong earnings that should allow management to continue dividend payments. The bank's issue is being overseen by ICICI Securities, DAM Capital Advisors, and Nuvama Wealth Management. More tips regarding ESAF Small Finance Bank can be found at InvestingPro.
Cello World is targeting to mobilize Rs 1,750 crore through an IPO solely consisting of an OFS by promoters Pradeep Ghisulal Rathod, Pankaj Ghisulal Rathod, and Gaurav Pradeep Rathod. The company leads India's consumerware market with 13 manufacturing facilities and a wide range of product categories available nationwide. This issue is being managed by Kotak Mahindra Capital Company, ICICI Securities, IIFL Securities, JM Financial, and Motilal Oswal Investment Advisors.
InvestingPro's real-time metrics reveal that the company's market cap is 7.78M USD. Despite a negative P/E ratio of -0.33 and an adjusted P/E ratio of -0.66 for LTM2023.Q2, the company's Price / Book ratio for the same period is 1.16. The company's operating income, adjusted for LTM2023.Q2, stands at -12.66M USD. For more real-time metrics, visit InvestingPro.
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