The IPO of India’s leading electric vehicle (EV) company Delta AutoCorp Limited was listed in the stock market on Tuesday. The company’s shares were listed at Rs 175 on the NSE Emerge platform with a 35% premium against the price band of Rs 130. Immediately after listing, these shares reached Rs 183.75, giving investors a profit of about 42% on the first day.
IPO received tremendous subscription
Delta AutoCorp’s SME IPO was enthusiastically subscribed by investors.
- Total Subscription: The IPO was subscribed 309 times on the last day of bidding.
- Application and demand of shares:
- Bids for 93.63 crore equity shares were received against the offer of 30.3 lakh shares through 4.58 lakh applications.
- Fund raising target: The company had set a target of raising Rs 54.60 crore through IPO.
- Price band: Rs 123-130 per share.
Structure of the issue:
- 38.88 lakh shares worth Rs 50.54 crore were newly issued.
- 3.12 lakh shares worth Rs 4.06 crore were offered for sale.
Delta AutoCorp’s business and expansion
Established in 2016, Delta AutoCorp has played a leading role in driving the EV revolution in India. The company’s brand “Deltic” is famous for electric two-wheeler and three-wheeler vehicles.
- Dealership Network:
- Over 300 dealerships spread across 25 states and union territories.
- Product Portfolio:
- Electric scooters, rickshaws, loaders, garbage carts and spare parts.
- Manufacturing Units:
- Bardhaman, West Bengal.
- Delhi NCR, Uttar Pradesh.
The company maintains its strong presence in the rural and semi-urban markets, providing affordable, sustainable and eco-friendly transportation solutions.
Delta impact in EV sector
Delta AutoCorp aims to make electric vehicles accessible to every section of the society in India.
- The growing demand for eco-friendly vehicles and Delta’s extensive dealership network have made it a major player in the sector.
- The company’s modern manufacturing units help it provide cost-effective and high quality products.
