ASK Automotive IPO listing date today. GMP, experts predict 'decent' debut of shares

livemint.com:

ASK Automotive IPO: Listing date of the initial public offering (IPO) of ASK Automotive Limited has been fixed on 15th November 2023 i.e. today. As per the information available on official website of BSE, "....

effective from Wednesday, November 15, 2023, the equity shares of ASK Automotive Limited shall be listed and admitted to dealings on the Exchange in the list of 'B' Group of Securities." The BSE notice went on to add that ASK Automotive IPO listing will take place in special pre-open session during Wednesday deals. According to stock market experts, the public issue received strong response from investors, especially in QIB segment. They said that fundamentals of the company is also attractive.

However, they maintained that higher valuation and 100 per cent offer for sale (OFS) may limit the listing gains. They also maintained that market mood holds key as primary market has lost its sheen, which was visible around three-four months ago. But, market experts maintained that an allottee may expect around 10 per cent listing premium as ASK Automotive IPO listing price is expected to be in ₹302 to ₹312 per share range.

Speaking on ASK Automotive IPO listing, Avinash Gorakshkar, Head of Research at Profitmart Securities said, "Fundamentals of ASK Automotive Limited is attractive but its valuations are slightly higher. Apart from this, the issue is 100 per cent OFS, which may limit the listing premium for allottees. But, the company is in auto segment and the segment is expected to continue doing well in medium to short term.