Delta Autocorp IPO Subscription: Subscribed 309 occasions until final day, cash on itemizing might double – INA NEWS

Delta Autocorp IPO Subscription standing: The IPO of Delta AutoCorp Restricted has obtained an awesome response from buyers. The problem has been subscribed 309 occasions until the final day of bidding. This IPO obtained a complete of 4.58 lakh functions from buyers. On this public subject, bids have been made for 93.63 crore fairness shares in opposition to the supply dimension of 30.3 lakh shares. The corporate intends to lift Rs 54.60 crore by way of public subject. The corporate manufactures electrical two-wheelers and three-wheelers underneath the Deltic model.

All buyers confirmed nice curiosity on this IPO. The share of Non-Institutional Traders (NII) has been subscribed probably the most by 625.9 occasions. Apart from, retail buyers purchased 314.5 occasions their allotted quota. On the similar time, the portion put aside for Certified Institutional Consumers (QIB) was subscribed 178.2 occasions.

Newest GMP of Delta Autocorp IPO

Delta AutoCorp’s IPO is getting a powerful response within the grey market. This public subject is buying and selling at a premium of Rs 125 as we speak. Accordingly, the corporate’s shares are prone to be listed at a value of Rs 255. If this occurs then buyers will get an enormous revenue of 96.15 %.

About Delta Autocorp IPO

The worth band for the IPO was mounted at Rs 123-130 per share. 38.88 lakh recent fairness shares have been issued underneath Delta AutoCorp’s IPO. Moreover, 3.12 lakh shares have been bought by way of Provide for Sale (OFS) by promoter Ankit Agarwal. After subscription, allotment of shares to profitable buyers might be carried out by January 10. On the similar time, the possible date for itemizing is January 14.

Delta Autocorp enterprise

Delta AutoCorp was integrated within the 12 months 2016. The corporate at present has a product vary of electrical scooters within the 2-wheeler class, in addition to electrical rickshaws, electrical loaders and electrical rubbish carts within the 3-wheeler class. Moreover, the corporate additionally offers spare elements and equipment for 2-wheelers and 3-wheelers, together with motors, DC-DC converters, and speedometers.

Delhi-based firm Delta AutoCorp competes with corporations like listed firm Wordwizard Innovation and Mobility. The corporate operates its enterprise by way of greater than 300 robust distribution networks throughout 25 states and union territories in India. The corporate primarily focuses on B2B (business-to-business) transactions.

On December 4, 2024, the corporate obtained a letter of intent price ₹31 crore from D Kumar & Gross sales for the availability of 2000 electrical rubbish carts (Deltic Garbo). These carts are specifically designed for waste assortment.

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