ASK Automotive Stock Market Listing: Shares climb over 8%

New Delhi: In its stock market debut today, ASK Automotive Ltd listed with a premium of more than 8 percent. The market valuation of the company stood at Rs 6,022.71 crore.

ASK Automotive shares listed at Rs 304.90 a piece as against the issue price of Rs 282, posting a 8.12 percent gain on BSE. It further rallied 10.54 percent to Rs 311.75. Shares on NSE listed at Rs 303.30, posting a jump of 7.55 percent.

ASK Automotive IPO

ASK Automotive Initial Public Offering (IPO), which was open November 7 to November 9, from was subscribed 51.14 times on the last day of subscription. The 834-crore initial share sale had a fixed price band of Rs 268-282 per equity share.

The Gurugram-based Automotive company commands a substantial 50% market share in two-wheeler braking systems. The company excels in in-house design, development, and manufacturing capabilities and boasts of clients, including TVS Motor Company Ltd, Hero MotoCorp, Greaves Electric Mobility and Bajaj Auto.

With PTI Inputs