ASK Investment Managers IPO – Review, Allotment, Subscription, GMP & more

Ask Investment Managers is a leading asset and wealth management company, primarily catering to the HNI and UHNI market in India. CRISIL Research notes that the company is one of the first companies to obtain a portfolio management services license in India. Ask Investment Managers IPO comprises of *Equity shares, face value of Rs.10 each.

Let’s have a detailed review of the company and analytics of the Ask Investment Managers IPO release date, IPO offer price, subscription, Ask Investment Managers IPO allotment, grey market price and other details like the company’s background, its financial positions, its promoters and other related things.


Ask Investment Managers IPO Review & Ratings

Ask Investment Managers IPO Ratings & Review
Criteria Ratings
Industry Sentiments  8.3/10
Industry Ranking  7.3/10
Company Background 8.1/10
Company Reputation 7.4/10
Competitive Edge 8.4/10
Financial Statements 7.5/10
Popularity Index 8.2/10
Promoters Reputation 7.3/10
Retail Appetite  8.2/10
Top Brokers Review 8.3/10
Overall Ratings  7.8/10
Star Ratings ★★★★☆

Summary of Ask Investment Managers IPO

ASK Investment Managers IPOAsk Investment Managers is a leading asset and wealth management company, primarily catering to the HNI and UHNI market in India. CRISIL Research notes that the company is one of the first companies to obtain a portfolio management services license in India.  According to CRISIL Research, the company was  the third largest company in both discretionary listed equity portfolio management services and discretionary equity overall portfolio management services according to assets under management as of May 30, 2018. The Issue comprises of a Public Issue of [●] Equity shares of face value of Rs.10.00 each fully paid  up.

From FY 2014-15 to FY 2016-2017, as per the Restated Financial Statements:

From fiscal 2016 to 2017, company’s revenue from operations and net profit has increased at a growth rate of 49.97% and 22.66 %, respectively.

For the period ended March 31, 2018, FY 2016-17 and FY 2015-16, its revenue from operations was Rs. 4,516.29 Millions, Rs. 3,201.61 Millions and Rs. 2,134.78 Millions, respectively representing growth of  41.06% from the FY 2017-18 to FY 2016-17. For the period ended March 31, 2017, FY 2016-17 and FY 2015-16 the net profit was Rs1,886.09Lakhs, Rs.  1,081.43 Millions and Rs. 881.64 Millions, respectively, representing a growth of  22.66% from the FY 2015-16 to FY 2016-17.

  • During the financial year 2017-18 the Other Income of the company increased to Rs. 132.33 Millions as against Rs. 126.40 Millions for the financial year 2016-17, representing increase by 4.69% due to increase in interest income & insurance claim in FY 2017- 18.
  • Company’s Net Profit after tax for the year 2016-17 is Rs.1,212.03 Millions from the year 2015-16 of Rs. 772.75 Millions showing an increase of  56.9% from last year, showing remarkable performance.

The Promoter of this company is Mr. Asit Koticha and Mr. Sameer Koticha. The lead manager to the issue is JM Financial, Axis Capital, Citigroup Global Markets India Private Limited and Nomura Financial Advisory and Securities (India) Private Limited and the Registrar to this issue is Link Intime India Private Limited .


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Ask Investment Managers IPO Date

The opening and the closing date of IPO of Ask Investment Managers is not known yet.


Ask Investment Managers IPO Subscription

Day / Date QIB NII RII Total Subscription
Day 1      
Day 2        
Day 3        
Day 4        
Day 5        

The shares subscribed by the public will be updated herein on a daily basis, once the IPO is open for subscription.


Ask Investment Managers IPO Allotment Status

Unless the context otherwise requires, allotment of the Equity Shares pursuant to the Fresh Issue and transfer of the Equity Shares offered by the Selling Shareholders pursuant to the Offer for Sale to the successful Bidders .


Ask Investment Managers IPO Price Band

The face value of each share is Rs 10, but the price band of the IPO is not yet disclosed. 


Ask Investment Managers IPO Equity Share Offering

 Equity Shares of Rs 10/- each but Issue Price is yet to be disclosed.


Ask Investment Managers Limited – Company Overview

Ask Investment Managers is a leading asset and wealth management company, primarily catering to the HNI and UHNI market in India. CRISIL Research notes that the company is one of the first companies to obtain a portfolio management services license in India.  According to CRISIL Research, the company was  the third largest company in both discretionary listed equity portfolio management services and discretionary equity overall portfolio management services according to assets under management as of May 30, 2018. 

As part of the wealth advisory and distribution segment, we seek to partner with our clients to help them meet
their long term financial goals around wealth creation and preservation and transfer to the next generation. Their
wealth advisory and distribution segment offers both in-house (i.e., products of the asset management segment)
and third-party products primarily to the HNI and UHNI clients, depending on their requirements and preferences.

They also provide bespoke family office services to certain clients. They provide advice to the clients in three broad asset classes: equity (comprising equity investments), alternate (comprising investments in alternative investment funds such as venture capital and private equity funds) and income (comprising fixed income funds). As of March 31, 2018, 50.80% of the AUM for the wealth advisory and distribution business was in the equity asset class, which shows that the business is oriented towards the asset class preferred by HNI and UHNI clients for long term growth.

The Company cater to the investment requirements of their HNI and UHNI clients through the following three business segments: 

  • asset management, which primarily includes the equity investment management and advisory; and property investment management and advisory;
  • wealth advisory and distribution; 
  • non-banking financial company business, which recently commenced commercial operations in 2018.

The Company is promoted by Mr. Asit Koticha and Mr. Sameer Koticha and is the guiding force behind the growth and strategic decisions of the Company.

Competitive Strengths of Ask Investment Managers Limited:

  • Consistently profitable growth in AUM
  • Annuity fees driven business, well suited to benefit from the expected increase in the addressable market for HNIs and UHNIs in India .
  • Research based investment approach and robust risk management, leading to better than benchmark performance
  • Open architecture model and robust distribution network .
  • Experienced and stable management team with a strong focus on corporate governance .

Business strategies of Ask Investment Managers Limited:

  • Leverage their core strengths to generate growth through expansion in the HNI and UHNI client base .
  • Expand their product offerings and client base

Ask Investment Managers Limited – Financial Statements

A quick look into the past financial performance of the company to understand its performance of business and evaluate the growth prospectus:

Financial Summary:

Amount (in INR & Millions)
31-Mar-18 31-Mar-17 31-Mar-16
Total Assets 5,281.64 4,550.2 3,008.16
Total Revenue 3,466.19 2,634.98 1,558.80
Total Expense 2,070.45 1,833.81 1,012.43
Profit After Tax 908.83 450.34 369.78

Earnings per Equity Share (in Millions)

31-Mar-18 31-Mar-17 31-Mar-16
Basic  12.63 6.68 5.63
Diluted 10.67 5.72 4.81

From the above statements, one could find that the Ask Investment Managers Limited may perform well.


Ask Investment Managers IPO – Promoters

The Promoter of this company are:

  1. Mr. Asit Koticha and
  2. Mr. Sameer Koticha

List of Related Parties (Key Managerial Personnel)

  • Rashmi Chauhan, Company Secretary

Interest in promotion of the Company

Company is currently promoted by the Promoters in order to carry on its present business. Promoters are interested in the Company to the extent of their shareholding and directorship of the Individual Promoter in the Company and the dividend declared, if any, by the Company. The Promoters are interested in the transactions entered into the Company and the Promoter Group.

Property Interest

The promoters along with the promoter group will continue to hold collectively some percentage of the equity share capital of the company. As a result of the same, they will be able to exercise significant influence over the control of the outcome of the matter that requires approval of the majority shareholders vote.

Interest in Intellectual Rights of the Company

Promoters has not shown any interest in acquiring the intellectual rights of the company.


Ask Investment Managers IPO Offer Details or Issue Details

 Particulars  No. Of Equity Shares
 Equity Shares Offered Up to [•] Equity Shares
 Of which:
Fresh Issue  Up to [●] Equity Shares aggregating up to Rs 6,000 million
 Offer for Sale  Up to 17,969,405 Equity Shares aggregating up to Rs [●] million
 Of which:
 Equity Shares outstanding prior to the Issue 72,207,525 Equity Shares
 Equity Shares outstanding after the Issue [•] Equity Shares

Ask Investment Managers IPO Issue Object

These are the IPO Issue Objects of the company:

  •  Investment in the Subsidiary, ASKFH, for augmenting the capital base for the NBFC business  
  • General corporate purposes

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Ask Investment Managers IPO – Basis of the Offer Price

The issue price is determined by the company in consultation with the Lead manager on the basis of the following qualitative and quantitative factors.

Qualitative factors are:

  • Consistently profitable growth in AUM.
  •  Annuity fees driven business, well suited to benefit from the expected increase in the addressable market for
    HNIs and UHNIs in India.
  •  Research based investment approach and robust risk management, leading to better than benchmark
    performance.
  •  Open architecture model and robust distribution network.
  •  Client centric business model focused on HNIs and UHNIs, leading to long-term client relationships.
  •  Experienced and stable management team with a strong focus on corporate governance.

The relevant quantitative factors are:

Basic & Diluted EPS RONW (%) NAV (Rs.)
31-Mar-16 16.83 30.92 54.42
31-Mar-17 11.15 28.95 38.50
31-Mar-18 11.07 44.17 25.06
  • Comparison with Listed Industry Peers:
    There are no listed entities similar to our line of business and comparable to our scale of operations.

 


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Ask Investment Managers IPO Registrar to offer

Registrar to the Offer
LINK INTIME INDIA PRIVATE LIMITED
C-101, 1st Floor, 247 Park, L.B.S. Marg,
Vikhroli (West), Mumbai – 400 083, India
Tel: +91 22 49186200; Fax: +91 22 4918 6195
Website: www.linkintime.co.in
Email:
Investor Grievance Id:
Contact Person: Shanti Gopalkrishnan
SEBI Registration Number: INR000004058

Other Details:

  • Statutory Auditor –  B S R & Co. LLP, Chartered Accountants
  • Peer Review Auditor – B S R & Co. LLP, Chartered Accountants
  • Bankers to the Company –  HDFC  Bank Limited

Ask Investment Managers IPO Review by Top 10 Stock Brokers

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Motilal Oswal 7.9/10 7.7/10 7.3/10 7.3/10 7.7/10

Ask Investment Managers IPO Grey Market Premium

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