Thu Jan 09 16:24:31 UTC 2025: ## Delta Autocorp IPO Oversubscribed by 58x on Second Day

**Mumbai, January 8, 2025** – The initial public offering (IPO) of Delta Autocorp Limited, a manufacturer of electric two-wheelers and three-wheelers, has been massively oversubscribed. By 5:00 PM today, the second day of the IPO, subscriptions reached over 58.21 times the number of shares offered.

The IPO, which opened on Monday, January 7th, and closes on Wednesday, January 9th, is priced between ₹123 and ₹130 per share. The strong demand is reflected in the grey market premium (GMP), which reached ₹110 on Wednesday, suggesting a potential trading price of ₹240 per share.

Founded in 2016, Delta Autocorp has steadily grown its presence in the electric vehicle market. Initially focusing on electric three-wheelers, the company expanded its portfolio to include two-wheelers in 2019, responding to market demand with a range of affordable and stylish models. The company primarily operates in the B2B sector, collaborating with over 250 distribution networks.

Delta Autocorp reported strong financial results, with revenue increasing to ₹80.56 crore in 2023 from ₹57.53 crore in 2022, and profit rising to ₹5.13 crore from ₹4.20 crore. The significant oversubscription indicates strong investor confidence in the company’s future growth prospects within the burgeoning electric vehicle industry. Further updates on the final subscription figures will be available after the IPO closes on Wednesday.

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