ASK Investment files papers for Rs 2,000 crore IPO

MUMBAI: Mumbai-based ASK Investment Managers, an asset and wealth management company, filed its draft red herring prospectus (DRHP) with the market regulator SEBI for raising about `2,000 crore through an Initial Public Offering (IPO).

The IPO comprises a fresh issue of shares worth up to `600 crore, and an offer for sale of up to 1.36 crore equity shares by AI Global and 44 lakh equity shares by promoter Sameer Koticha.

The company may also consider a private placement of up to 43.96 lakh equity shares, aggregating to `300 crore, at its discretion, prior to filing of the DRHP.


According to the objects of the issue, the company will utilise the proceeds toward investment in its subsidiary, ASKFH, for augmenting the capital base for the NBFC business and for general corporate purposes.

ASK primarily caters to the high net worth (HNI) and ultra HNI market in India.

CRISIL Research notes that it was one of the first companies to obtain a portfolio management services licence locally.

ASK Investment Managers also has subsidiaries such as ASK Wealth Advisors Private, ASK Property Investment Advisors and ASK Property Advisory.

ASK Property Investment is currently engaged in the business of providing real estate investment advisory, including research services and studies in relation to investments and securities research.