ASK Automotive Ltd, an Indian supplier of friction products and automobile braking systems, has announced its intention to sell 29.57 million shares of its company stocks in an upcoming initial public offering (IPO) to raise funds. The company’s ultimate goal for the IPO is to expand its operations, cater to the changing requirements of the automotive industry, and diversify its overall operations. ASK Automotive supplies a wide range of products to original equipment manufacturers (OEMs) in the automotive industry, including anti-lock braking systems, advanced lighting products, wheel assemblies, and steering column components. The company caters to various segments in the automotive industry, including two-wheelers, three-wheelers, passenger vehicles, and commercial vehicles.
ASK Automotive’s diversification also allows it to reach non-automotive sectors such as power tools, outdoor equipment, and all-terrain vehicles. Due to its versatility, the company can offer its products to a broader range of customers, meeting their diverse needs and making it a trusted supplier to several leading players in the automotive industry. Some of its notable clients include Bajaj Auto, TVS Motor Company Limited, Revolt Intellicorp, Ather Energy, Greaves Electric Mobility, and Hero MotoCorp.
To ensure efficient production and supply chain management, ASK Automotive operates 15 manufacturing facilities situated across India. These facilities are located near OEM customers, which helps reduce transportation costs and lead times. Besides, the company is establishing a new manufacturing facility in Rajasthan, aimed at strengthening its manufacturing capabilities and meeting the growing market demand.
ASK Automotive has established itself as a leading supplier in the automotive sector, thanks to its wide product range, diverse customer base, and strategic manufacturing facilities. The company’s IPO is expected to help it reach new heights by raising capital, expanding its operations, and meeting the changing needs of the automotive industry.
