Delta Autocorp share price ends at ₹169 apiece on NSE SME, 30% premium to IPO price | Stock Market News
Source: Live Mint
Delta Autocorp share price made a bumper debut on NSE SME today. On NSE SME, Delta Autocorp share price today was listed at ₹175 , which is 34.6% higher than the issue price of ₹130. Following a strong listing, the stock slipped into red. The stock ended listing day at ₹169 on NSE SME, a 30% premium to the IPO price.
Delta Autocorp IPO opened for subscription on Tuesday, January 7 and closed on Thursday, January 9. Delta Autocorp Limited was founded in 2016 and is a company that manufactures and sells electric vehicles (EVs) for two and three wheels. “Deltic” is the brand name under which the company operates.
They first focused on creating electric 3-wheeler prototypes, but in 2017, they achieved a major milestone with the introduction of their first E-Rickshaw, which had an amazing 150-kilometer range. On the last bidding day, Delta Autocorp IPO subscription status was 342.1 times, as per chittorgarh.com
Using a network of more than 300 dealers in 25 states and Union Territories, the organisation specializes in business-to-business (B2B) transactions. With affordable, useful products and first-rate service, the objective is to become a worldwide brand. With 11 personnel devoted to designing electric vehicles based on consumer wants and preferences, the company’s R&D department in Uttar Pradesh concentrates on in-house product creation.
Delta Autocorp IPO details
Delta Autocorp IPO consists of fresh issue of 38,88,000 equity shares aggregating to ₹50.54 crore, and an offer for sale (OFS) of 3,12,000 equity shares.
The offer’s goals are to finance the establishment of an electric three-wheeler fabrication and painting plant, invest in new product development, support working capital needs, fund general corporate purposes, and cover offer expenses.
The Delta Autocorp IPO’s book running lead manager is GYR Capital Advisors Private Limited, while the issue’s registrar is Link Intime India Private Limited.Giriraj Stock Broking Private Limited is the market maker for the Delta Autocorp first public offering.
Delta Autocorp IPO GMP today
Delta Autocorp IPO GMP today is +105. This indicates Delta Autocorp share price was trading at a premium of ₹105 in the grey market, according to investorgain.com.
Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Delta Autocorp share price is indicated at ₹235 apiece, which is 80.77% higher than the IPO price of ₹130.
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
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