Fri Jan 10 08:40:32 UTC 2025: **West Bengal EV Maker Delta Autocorp’s IPO OverSubscribed by 342 Times**

KOLKATA, January 10, 2025 – Delta Autocorp, a West Bengal-based electric vehicle (EV) manufacturer, saw its initial public offering (IPO) massively oversubscribed, closing at 342.1 times its issue size. The IPO, which ran from January 7th to 9th, offered shares at ₹13-14 per share, raising ₹44.80 crore (approximately $5.5 million USD). The strong investor interest resulted in the non-institutional investor (NII) portion being oversubscribed by a staggering 624.28 times, while retail investors subscribed 314.33 times. Qualified institutional bidders (QIBs) showed a more moderate 178.64 times oversubscription.

The allotment of shares is expected to be finalized on Friday, January 10th, with successful bidders receiving confirmation via email or SMS by Monday, January 13th. The company’s shares are scheduled to list on the NSE Emerge platform on Tuesday, January 14th. A significant grey market premium, currently estimated at around ₹125, suggests potential listing gains exceeding 95%.

Delta Autocorp, established in 2016, manufactures and sells two- and three-wheeled EVs under the brand name ‘Deltic’. GYR Capital Advisors acted as the lead manager for the IPO, with Link Intime India serving as the registrar. Giriraj Stock Broking acted as the market maker.

Investors can check their allotment status on the NSE website (https://www.nseindia.com/products/dynaContent/equities/ipos/ipo_login.jsp) or the Link Intime India portal (https://linkintime.co.in/MIPO/Ipoallotment.html).

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