ASK Automotive raises Rs 250 cr from anchors; IPO opens today

Synopsis Morgan Stanley Asia (Singapore) Pte, Copthall Mauritius Investment Ltd, BNP Paribas Arbitrage, Societe Generale, Goldman Sachs Fund, SBI Life Insurance Company, ICICI Prudential Life Insurance Company, Bajaj Allianz Life Insurance Company, Nippon India Mutual Fund (MF), Tata MF and Edelweiss MF are amongst the anchor investors.AgenciesThe business has customers consisting of TVS Motor Company Ltd, Hero MotoCorp, Greaves Electric Mobility, and Bajaj Auto. New Delhi, Auto secondary gamer ASK Automotive on Monday stated it has actually mobilised a little over Rs 250 crore from anchor financiers ahead of its preliminary share sale which opens for public membership on Tuesday. The business has actually set aside 88.71 lakh equity shares to 25 funds at Rs 282 each, which is likewise the upper end of the cost band, according to a circular uploaded on the BSE site. At the cost, the business has actually gathered Rs 250.17 crore from anchor financiers. Morgan Stanley Asia (Singapore) Pte, Copthall Mauritius Investment Ltd, BNP Paribas Arbitrage, Societe Generale, Goldman Sachs Fund, SBI Life Insurance Company, ICICI Prudential Life Insurance Company, Bajaj Allianz Life Insurance Company, Nippon India Mutual Fund (MF), Tata MF and Edelweiss MF are amongst the anchor financiers. The IPO is a sell (OFS) of 2,95,71,390 equity shares by promoters– Kuldip Singh Rathee and Vijay Rathee. Given that the IPO is totally an OFS, the whole profits will go to investors divesting their shares. The concern, with a cost band o
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