Delta Autocorp IPO Listing: Shares of Delta AutoCorp, which manufactures and sells ‘Deltic’ brand electric two-wheeler and three-wheeler vehicles, had a successful entry in the domestic market today. Its IPO received overall bids of more than 342 times. Under the IPO, shares have been issued at a price of Rs 130. Today it has entered NSE SME at Rs 175.00, which means IPO investors got a listing gain of 34.62 percent (Delta Autocorp Listing Gain). After listing the shares went up further. It jumped and reached the upper circuit of Rs 178.00 (Delta Autocorp Share Price), which means IPO investors are now in 36.92 percent profit.
Delta Autocorp IPO got strong response
Delta AutoCorp’s ₹4.06 crore IPO was open for subscription from January 7-9. This IPO received a tremendous response from investors and overall it was subscribed 342.1 times. In this, the portion reserved for Qualified Institutional Buyers (QIB) was filled 178.64 times, the portion for Non-Institutional Investors (NII) was 624.28 times and the portion for retail investors was filled 314.33 times.
New shares worth Rs 50.54 crore have been issued under this IPO. Apart from this, 3.12 lakh shares with face value of Rs 10 have been sold under the offer for sale window. The shareholders who sold the shares have received the money from the offer for sale. The company will use the money raised through new shares to build an electric three-wheeler fabrication plant and painting plant, develop new products, meet working capital requirements, meet issue-related expenses and for general corporate purposes.
About Delta Autocorp
Delta AutoCorp, formed in the year 2016, manufactures electric two-wheelers and three-wheelers. Its vehicles are sold under the brand name ‘Deltic’. Talking about the financial health of the company, it has continuously strengthened. It had a net profit of Rs 4.20 crore in FY 2022, which jumped to Rs 5.13 crore in the next FY 2023 and Rs 8.22 crore in FY 2024. During this period, the company’s revenue increased at a compound growth rate (CAGR) of more than 18 percent annually to Rs 81.17 crore. Talking about the current financial year 2024-25, it has achieved net profit of Rs 4.81 crore and revenue of Rs 45.28 crore in April-October 2024.
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