ASK Automotive Limited is a manufacturer of Advance Braking Systems for two-wheelers in India. The product range of the company includes (I) AB systems; (ii) aluminium lightweight precision(“ALP”) (iii) wheel assembly to 2W OEMs; and (iv) safety control cables (“SCC”). The company operates in India as well as overseas.

As of June 2023, the company has 15 manufacturing units spread across five states in India. ASK Automotive supplies to Original Equipment Manufacturers like HMSI, HMCL, Suzuki, TVS, Yamaha, Bajaj, Royal Enfield, Denso, Magneti Marelli, and others. It also provides to the independent aftermarket and the export market through its manufacturing facilities located in different parts of the country. The company’s manufacturing facilities have world-class certifications in quality and safety including IATF 16949:2016, ISO 9001:2015, ISO 14001:2015, and ISO 45001:2018.

For year/ period ended ( in Cr.)

• Well established manufacturer of safety systems and critical engineering solutions for some of India’s largest original equipment manufacturers (“OEMs”)
• Robust production model driven by research and development (“R&D”) and design with an emphasis on: (i) advanced material knowledge to customize systems and products based on customer specifications and (ii) engineering lighter precision products.
• Long-standing customer  relationships  with  both  Indian  and  global  OEM
• Financial and  return  metrics  demonstrating  growth  and  efficient  use  of
• Professional management and board.

The company will not receive any proceeds from the Offer and all the Offer Proceeds will be received by the Selling Shareholders, in proportion to the Offered Shares sold by the respective Selling Shareholders as part of the Offer.

The Company is valued at P/E ratio of 39.89 if we annualize FY24 earnings and credit it to the company’s paid-up equity capital after the initial public offering. It is the largest manufacturer in India for brake-shoe and advanced braking systems and is the most preferred partner for 2W companies like HeroMotocorp, TVS, Bajaj, etc. It marked