Shardul Amarchand Mangaldas advises ASK Automotive Limited (“Issuer”) on its initial public offering of 29,571,390 equity shares each aggregating to ₹ 8,339.13 million, comprising an offer for sale of 20,699,973 equity shares aggregating to ₹ 5,837.39 million by Kuldip Singh Rathee and 8,871,417 equity shares aggregating to ₹ 2,501.74 million by Vijay Rathee (the promoter selling shareholders). The deal was valued approximately at ₹ 8339.13 million, and the equity shares of the Issuer were listed on the BSE and NSE on 15 November 2023.
The IPO was subscribed over 51.14 times, overall. The qualified institutional buyer’s component was subscribed over 142.41 times and the non-institutional buyer’s component was subscribed over 35.47 times.
The Capital Markets team was led by Prashant Gupta, Partner, NP Head – Capital Markets; Abhiroop Amitava Datta, Partner; Sanjeev Chowdhary, Senior Associate; Sridutt Mishra, Associate; and Divya Dhawan, Associate.
About Shardul Amarchand Mangaldas & Co:
Shardul Amarchand Mangaldas & Co., founded on a century of legal achievements, is one of India’s leading full-service law firms. The Firm’s mission is to enable business by providing solutions as trusted advisers through excellence, responsiveness, innovation, and collaboration. SAM & Co. is known globally for its exceptional practices in mergers & acquisitions, private equity, competition law, insolvency & bankruptcy, dispute resolution, international commercial arbitration, capital markets, banking & finance, tax, intellectual property, data protection and data privacy, technology law and projects & infrastructure.
The Firm has a pan-India presence and has been at the helm of major headline transactions and litigations in all sectors, besides advising major multinational corporates on their entry into the Indian market and their business strategy. Currently, the Firm has over 822 lawyers including 166 Partners, offering legal services through its offices in New Delhi, Mumbai, Gurugram, Ahmedabad, Kolkata, Bengaluru, and Chennai.