Delta Autocorp IPO Allotment Status: Check Allotment Status Online on NSE & Link InTime India

Delta Autocorp IPO Details

Delta Autocorp IPO is a book-built issue totaling ₹54.60 crore, comprising a fresh issue of 38.88 lakh shares worth ₹50.54 crore and an offer for sale of 3.12 lakh shares amounting to ₹4.06 crore. The bidding for the IPO was open from January 7 to January 9, 2025, with the allotment likely to be finalized today, Friday, January 10, 2025. The company's shares are set to list on the NSE SME platform, with the tentative listing date scheduled for Tuesday, January 14, 2025. The IPO price band is set between ₹123 and ₹130 per share, with a minimum application lot size of 1,000 shares. GYR Capital Advisors Private Limited is the book-running lead manager for the issue, Link Intime India Private Ltd is the registrar, and Giriraj Stock Broking Private Limited is the market maker.

Use of Proceeds

The proceeds from the offer will be used for setting up an Electric Three-Wheeler Fabrication and Painting Plant, investing in new product development, meeting working capital requirements, covering general corporate purposes, and addressing the offer expenses.

Delta Autocorp IPO Day 3 Subscription Status

(January 9, 2025, End of the Day)

On the third day of bidding, the Delta Autocorp IPO was subscribed 342.1 times the total shares available. Non-Institutional Investors (NIIs) subscribed 624.28 times their allocated portion. Retail Investors subscribed to 314.33 times the shares reserved for them. The Qualified Institutional Buyers (QIBs) segment recorded a subscription rate of 178.64 times.

Delta Autocorp Business Overview

Incorporated in 2016, Delta Autocorp Limited is engaged in the manufacturing and sale of electric 2-wheelers and 3-wheelers under the brand name "Deltic." Initially focused on developing electric 3-wheeler prototypes, the company achieved a significant milestone in 2017 with the launch of its first E-Rickshaw, offering a remarkable mileage of over 150 km. Responding to evolving market trends and customer demands, Delta Autocorp expanded its product range to include electric 2-wheelers. In 2018, the company began developing prototypes, and in 2019, it launched affordable, durable scooters aimed at tier-2 and tier-3 towns. Operating through a network of more than 300 dealers across 25 states and Union Territories, the company primarily focuses on B2B transactions and aspires to become a global brand known for its cost-effective, practical products and exceptional service.

Delta Autocorp’s manufacturing operations are supported by a dedicated R&D department in Uttar Pradesh, where a team of 11 employees work on designing electric vehicles tailored to customer needs and preferences, ensuring continuous innovation and product development.

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