Ask Investment files Initial Public Offering papers

Mumbai-based Ask Investment Managers Limited, an asset and wealth management company, recently filed its Draft Red Herring Prospectus (DRHP) with the market regulator Sebi, to raise funds through Initial Public Offering (IPO).

The company’s IPO comprises fresh issue of shares worth up to Rs 600 crore, and an offer for sale of up to 13,569,405 equity shares by AI Global and 4,400,000 equity shares by Sameer Kotecha. The proceeds will be utilised for investment in its subsidiary ASKFH, for augmenting their capital base for the NBFC business and for other general corporate purposes, the company said.

The price band will be decided post consultation with the Book Running Lead Managers (BRLMs). And, the lead managers to the issue are JM Financial Limited, Axis Capital Limited, Citigroup Global Markets India Private Limited, and Nomura Financial Advisory and Securities (India) Private Limited.