Ask Automotive IPO to list on November 15 amid high subscription rates

Investors are gearing up for the listing of Ask Automotive’s initial public offering (IPO) on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) on Wednesday, November 15, 2023. The anticipation builds as the IPO’s grey market premium (GMP) stands at Rs 45 today, which is approximately 16 percent of the upper price band of Rs 268 to Rs 282 per share.

The company’s IPO closed last Thursday after a robust three-day bidding process that saw the subscription rate soar to 44.52 times the amount on offer. This high demand signals strong investor confidence in Ask Automotive’s market prospects.

Despite the excitement, traders and investors should note that Indian stock markets will remain closed on Tuesday, November 14, 2023, due to Diwali Balipratipada. This festival observance will precede the much-anticipated listing of Ask Automotive’s shares.

Throughout the past week, the GMP for Ask Automotive’s IPO has fluctuated between Rs 45 and Rs 55 per share. The GMP is a speculative indicator used by market enthusiasts to gauge the potential opening price of an IPO before it begins trading on stock exchanges.

Those who participated in the IPO can check their allotment status online via the BSE website. With the listing date set just after the weekend, market watchers are keenly awaiting to see how Ask Automotive’s shares will perform as they make their debut on India’s major stock exchanges.

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