Mumbai-based ASK Investment Managers Ltd
, a leading asset and wealth management company, primarily catering to the HNI and ultra-HNI market in India filed its Draft Red Herring Prospectus (DRHP) with the market regulator Sebi for raising funds through its Initial Public Offering (IPO).
The company’s IPO comprises fresh issue of shares worth up to Rs600cr, and an offer for sale of up to 13,569,405 equity shares by AI Global (the “Investor Selling Shareholder”) and 44,00,000 equity shares by Sameer Koticha (the “Promoter Selling Shareholder”).
The price band will be decided in consultation with the Book Running Lead Managers (BRLMs). JM Financial, Axis Capital, Citigroup Global Markets India, and Nomura Financial Advisory and Securities (India) are the BRLMs to the issue.
The company may, in consultation with the BRLMs, consider a private placement of up to 43,95,865 equity shares aggregating to Rs300cr, at its discretion, prior to filing of the RHP with the ROC (“PRE-IPO PLACEMENT”).
According to the objects of the issue, the company will utilize the proceeds towards:
Investment in our subsidiary, ASKFH, for augmenting our capital base for the NBFC business; and
General corporate purposes