ASK Automotive promoter to sell shares for public shareholding compliance

Kuldip Singh Rathee, a promoter of ASK Automotive Limited, intends to sell up to 7,885,704 equity shares, representing a maximum of 4% of the company's total paid-up equity share capital. The open market sale aims to enable the company to comply with minimum public shareholding mandates under SCRR and Listing Regulations. The equity shares each have a face value of ₹2.

This divestment, if fully executed, will reduce the aggregate promoter and promoter group shareholding from 78.95% to 74.95% of the total paid-up equity share capital. The sale is planned to take place on or before December 3, 2025, or the actual completion date, in a single or multiple tranches.

Rathee has provided an undertaking confirming that neither he nor any person belonging to the promoter and promoter group will purchase shares in the open market on the dates of the proposed sale, adhering to SEBI Guidelines.