ASK Automotive announced on Monday that it has raised somewhat more than ₹250 crore from anchor investors ahead of its inaugural share offer, which opens for public subscription on Tuesday.
According to a circular posted on the BSE website, the company has assigned ₹88.71 lakh equity shares to 25 funds at ₹282 per share, which is also the higher end of the price band. The company has received ₹250.17 crore from anchor investors at the pricing.
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Kuldip Singh Rathee and Vijay Rathee's IPO is an offer for sale (OFS) of 2,95,71,390 equity shares.
Because the IPO is entirely an OFS, the entire profits will be distributed to shareholders who are selling their shares.
The issue will be open for subscription from November 7-9, with a price range of ₹268-282 per equity share. The IPO is expected to raise ₹833.91 crore at the upper end of the price band.
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