Delta Autocorp’s IPO has exceeded expectations with a massive subscription rate, attracting over 342 times the available bids.
The public issue received significant interest from various investor categories, showcasing high demand.
Additionally, Delta Autocorp’s shares are trading at a gray market premium (GMP) of over 95%, signaling strong confidence in a successful listing.
The IPO, with a size of ₹54.60 crore, was open for subscription from January 7 to January 9, 2025.
Expected Listing Price and Investor Gains
The issue price for the IPO was set at ₹130 per share, but in the gray market, the shares are trading at a premium of ₹125.
Based on this, Delta Autocorp’s shares are expected to list at around ₹255, offering investors a potential profit of more than 95%.
The shares are set to debut on the SME platform of the National Stock Exchange (NSE) on Tuesday, January 14, 2025.
Impressive IPO Subscription Breakdown
The IPO subscription details reveal an overwhelming response:
Retail Investors: 314.33 times subscription
Non-Institutional Investors (NII): 624.28 times subscription
Qualified Institutional Buyers (QIB): 178.64 times subscription
Retail investors could apply for one lot comprising 1,000 shares, requiring an investment of ₹1.30 lakh.
About Delta Autocorp
Founded in 2016, Delta Autocorp specializes in manufacturing and selling electric two-wheelers and three-wheelers under the “Deltic” brand.
The company operates a network of over 300 dealers and emphasizes innovation through its in-house R&D team based in Uttar Pradesh.
As of October 31, 2024, Delta Autocorp employed 139 people, including 11 dedicated to electric vehicle design.
The company’s strong focus on R&D has positioned it as a key player in the electric vehicle market.
