Delta Autocorp IPO: Delta AutoCorp’s IPO has received a strong response from investors. After subscription, investors are now likely to make huge profits on listing. This IPO is getting tremendous response from the gray market. This public issue was subscribed 309 times till the last day. As per schedule, allotment of shares to successful investors has been done on January 10. At the same time, the refund process will start from January 13. The listing of the company’s shares is to take place on the NSE SME platform on January 14.
Latest GMP of Delta Autocorp IPO
There is huge demand for Delta AutoCorp’s IPO in the gray market. Today on January 11, this issue is trading at a premium of Rs 115 in the unlisted market. According to this, the company’s shares are likely to be listed at a price of Rs 245. If this happens then investors will get a huge profit of 88.46 percent.
Subscription details of Delta Autocorp IPO
This IPO received a total of 4.58 lakh applications from investors. In this public issue, bids were made for 93.63 crore equity shares against the offer size of 30.3 lakh shares. The company intends to raise Rs 54.60 crore through public issue. The company manufactures electric two-wheelers and three-wheelers under the Deltic brand.
All the investors showed great interest in this IPO. The share of Non-Institutional Investors (NII) was subscribed the maximum by 625.9 times. Besides, retail investors bought 314.5 times their allotted quota. At the same time, the portion set aside for Qualified Institutional Buyers (QIB) was subscribed 178.2 times.
About Delta Autocorp IPO
The price band for the IPO was fixed at Rs 123-130 per share. 38.88 lakh fresh equity shares were issued under Delta AutoCorp’s IPO. Additionally, 3.12 lakh shares were sold through Offer for Sale (OFS) by promoter Ankit Agarwal. After subscription, allotment of shares to successful investors will be done by January 10. At the same time, the probable date for listing is January 14.
Delta Autocorp business
Delta AutoCorp was incorporated in the year 2016. The company currently has a product range of electric scooters in the 2-wheeler category, as well as electric rickshaws, electric loaders and electric garbage carts in the 3-wheeler category. Additionally, the company also provides spare parts and accessories for 2-wheelers and 3-wheelers, including motors, DC-DC converters, and speedometers.
Delhi-based company Delta AutoCorp competes with companies like listed company Wordwizard Innovation and Mobility. The company operates its business through more than 300 strong distribution networks across 25 states and union territories in India. The company mainly focuses on B2B (business-to-business) transactions.
On December 4, 2024, the company received a letter of intent worth ₹31 crore from D Kumar & Sales for the supply of 2000 electric garbage carts (Deltic Garbo). These carts are specially designed for waste collection.
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