Fri Jan 10 06:12:02 UTC 2025: **Delta Autocorp’s IPO Oversubscribed 342 Times, Strong Demand Expected to Boost Listing**

**MUMBAI, INDIA – January 10, 2025** – Delta Autocorp Ltd., a manufacturer of electric two- and three-wheelers, saw its initial public offering (IPO) massively oversubscribed, closing on January 9th with a subscription rate of 342.1 times. The ₹54.60 crore IPO, comprising a fresh issue of ₹50.54 crore and an offer-for-sale of ₹4.06 crore, attracted particularly strong interest from non-institutional buyers, who subscribed 624.28 times their allocation.

The IPO, priced between ₹123 and ₹130 per share, saw high demand across investor categories, though non-institutional investors led the charge. Qualified institutions subscribed 178.64 times. The grey market premium (GMP) reached ₹116 on the final day of bidding, suggesting a potential listing price of ₹246 and a potential return of 89.23% for investors. It is important to note that GMP is speculative and not an official price indicator.

Delta Autocorp plans to use the IPO proceeds to establish a new electric three-wheeler fabrication and painting plant, invest in new product development, and bolster working capital. The company, founded in 2016 and operating under the brand name ‘Deltic,’ boasts a network of over 300 dealers across 25 states and union territories. Financial results show steady growth, with revenue reaching ₹45.27 crore in the period ending October 31, 2024, and a profit after tax of ₹4.8 crore during the same period.

Share allotment is expected to be finalized by January 10th, with refunds to unsuccessful applicants and credit to successful bidders’ Demat accounts by January 13th. The shares are scheduled to list on the NSE SME platform, Emerge, on January 14th, 2025. GYR Capital Advisors Pvt. acted as the book-running lead manager, Link Intime India Pvt. as registrar, and Giriraj Stock Broking Pvt. as market maker.

**Disclaimer:** Investing in IPOs carries inherent market risks. Consult a financial advisor before making investment decisions.

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Fri Jan 10 06:12:02 UTC 2025: **Delta Autocorp SME IPO Oversubscribed by 342 Times**

**MUMBAI, Jan 10, 2025** – The initial public offering (IPO) of Delta Autocorp Ltd., a manufacturer of electric two- and three-wheelers, concluded on January 9th, significantly oversubscribed at 342.1 times its offering size. The Rs 54.60 crore IPO, comprising a fresh issue of Rs 50.54 crore and an offer-for-sale of Rs 4.06 crore, saw particularly strong demand from non-institutional buyers, who subscribed 624.28 times their allotted portion.

The IPO, priced between Rs 123 and Rs 130 per share, attracted substantial interest across investor categories, with qualified institutions subscribing 178.64 times. The high demand has led to speculation of a significant grey market premium (GMP) of Rs 116, suggesting a potential listing price of Rs 246, a substantial 89.23% increase over the issue price. However, investors are cautioned that GMP is based on speculation and not an official price quote.

Delta Autocorp plans to use the IPO proceeds to establish a new electric three-wheeler fabrication and painting plant, invest in product development, and meet working capital requirements. The company, founded in 2016 and operating under the brand name ‘Deltic’, has shown consistent revenue and profit growth, reporting a revenue of Rs 45.27 crore for the period ending October 31, 2024, and a profit after tax of Rs 4.8 crore during the same period.

Share allotment is expected to be finalized by January 10th, with refunds to unsuccessful bidders and credit of shares to Demat accounts scheduled for January 13th. The shares are expected to list on the NSE SME platform, Emerge, on January 14th, 2025. GYR Capital Advisors Pvt. acted as the book-running lead manager, while Link Intime India Pvt. served as the registrar.

**Disclaimer:** Investment in IPOs involves market risks. Consult a financial advisor and review the red herring prospectus before investing.

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