Diwali Delights: Seize the last chance to invest in these three IPOs closing today

As the festive Diwali season approaches, investors seeking opportunities may consider the three IPOs currently open for subscription. This article provides a concise overview of each IPO, including their business, price range, size, and subscription details as updated on November 8, 2023. This information serves as a starting point for investors to conduct their thorough analysis before making any investment decisions. Let’s explore each one.

ASK Automotive Limited 

Incorporated in 1988, ASK Automotive Limited is a leading Indian manufacturer of advanced braking systems for two-wheelers. Their comprehensive product range encompasses AB systems, aluminium lightweight precision (ALP) components, wheel assemblies for two-wheeler OEMs, and safety control cables (SCC). ASK Automotive’s global presence extends beyond India, with operations spanning multiple countries. The company caters to a diverse clientele, supplying OEMs like HMSI, HMCL, Suzuki, TVS, Yamaha, Bajaj, Royal Enfield, Denso, and Magneti Marelli, along with the independent aftermarket and export markets through their nationwide manufacturing facilities.

The company plans to raise Rs 834 crore via an offer for sale, which means the proceeds will not be received by the company. The price range for the IPO is set between Rs 268 and Rs 282 per share, with a face value of Rs 2 each, and the lot size is 53 shares.

Moving on to the subscription details, as of November 8, 2023, the ASK Automotive IPO has been subscribed 1.35 times. The retail category has subscribed 1.70 times, while the QIB and NII categories have subscribed 0.06 times and 2.28 times, respectively.

ROX Hi-Tech Limited

ROX Hi-Tech Limited has established itself as a customer-centric IT solutions provider. It was incorporated in 2002. The company’s comprehensive portfolio encompasses consulting, enterprise and end-user computing, managed print, and network services. Their expertise spans a diverse range of IT solutions, including digital transformation services, network and collaboration solutions, IT and OT security, data centre solutions, IoT, SMART, and MEDIA, as well as smart edge devices. With over two decades of industry experience, the company has transformed from an IBM Business Partner to a prominent player in the IT landscape.

The company plans to raise Rs 54.49 crore through both a fresh issue and an offer for sale. The company will use the net proceeds from its IPO to fund a range of strategic initiatives, including the establishment of a Network Operations Centre (NOC) and Security Operations Centre (SOC) in Chennai, a Chennai Medical Automation Centre, and a Global Software Delivery Center in Noida. The funds will also be used to meet working capital requirements and cover general corporate expenses. The price range for the IPO is set between Rs 80 and Rs 83 per share, with a face value of Rs 10 each, and the lot size is 1600 shares.

Moving on to the subscription details as of November 8, 2023, the ROX Hi-Tech IPO has been subscribed 56.59 times overall. The retail category has subscribed 84.89 times, the QIB category has subscribed 8.58 times, and the NII category has subscribed 43.64 times.

Sunrest Lifescience Limited 

Sunrest Lifescience Limited is a leading provider of healthcare and personal care products. It was incorporated in 2017. Their extensive product portfolio encompasses a wide range of pharmaceutical formulations, including capsules, tablets, syrups, ointments, gels, mouthwashes, solutions, suspensions, dry powders, and toothpaste. To meet the demands of their expanding product range, they utilize a combination of in-house manufacturing through their group company, Trilend Pharmaceuticals Private Limited, and a network of 43 third-party pharma product manufacturers across India.

The company plans to raise Rs 10.85 crore through a fresh issue only. The proceeds will be utilized by the company to meet working capital requirements, general corporate purposes, and cover public issue expenses. The price range for the IPO is set at Rs 84 per share, with a face value of Rs 10 each, and the lot size is 1600 shares.

As of November 8, 2023, the Sunrest Lifescience IPO has been subscribed 11.28 times overall. The retail category has subscribed 19.88 times, the QIB category has not subscribed, and the NII category has subscribed 2.67 times.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.