On September 25, 2024, ASK Automotive Limited’s promoter Kuldip Singh Rathee announced an Offer for Sale (OFS) of up to 10,842,843 equity shares, representing 5.5% of the company’s total paid-up equity share capital. The OFS is scheduled to open on September 26, 2024, for non-retail investors and will be extended to retail investors on September 27, 2024. The promoter has also offered an oversubscription option for an additional 1,084,284 equity shares, which could increase the total stake sale to 6.05%.
The offer will be conducted through the stock exchange mechanism and will be available on BSE and NSE platforms. The floor price for the OFS has been set at ₹433 per equity share.
The OFS aims to help ASK Automotive Limited comply with SEBI’s regulations on maintaining minimum public shareholding. The offer is part of the promoter’s strategy to achieve the required public shareholding levels through the sale of equity shares.
The OFS will be managed by JM Financial Services Limited and ICICI Securities Limited.
