Fri Jan 10 06:12:01 UTC 2025: ## Delta Autocorp’s SME IPO Oversubscribed 309 Times

**Mumbai, India** – Delta Autocorp, an electric two- and three-wheeler manufacturer, saw its SME initial public offering (IPO) massively oversubscribed, attracting bids 309 times the offer size. The IPO, which closed on January 9th, raised Rs 54.60 crore (approximately $6.6 million USD). Investors bid for 93.63 crore equity shares against an offer of 30.3 lakh shares. Non-institutional investors were particularly enthusiastic, subscribing 625.9 times their allotted quota. Retail investors subscribed 314.5 times, and qualified institutional buyers (QIBs) 178.2 times.

The Kolkata-based company, with a dealer network spanning 25 states, utilized an anchor book on January 6th, raising an additional Rs 15.21 crore. Proceeds from the IPO will fund the establishment of a new electric three-wheeler fabrication and painting plant, product development, working capital, and general corporate purposes. The IPO’s share allotment will be finalized by January 10th, with trading beginning on the NSE Emerge on January 14th.

Grey market indicators suggest the shares may trade at a 90% premium over the upper price band of Rs 130. GYR Capital Advisors served as the book running lead manager for the IPO. This strong investor interest highlights the growing demand for electric vehicle companies in India. The event is also notable in light of the upcoming “India’s Largest Regional Retail Option Traders Summit (BOTS)” organized by Traders Gurukul. This monthly event aims to provide insights into the dynamic Indian options trading market and further integrate brokers with potential clients.

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