Delta Autocorp IPO: There may be a huge listing of shares of electric vehicle manufacturing company Delta Autocorp on the stock exchanges. The company’s IPO has received more than 342 times subscription. The company’s shares are trading at a handsome premium in the gray market. This is an SME IPO of Rs 54.60 crore. This IPO was open for subscription on 7 January and closed on 9 January. The allotment of shares in the IPO has been done on Thursday, January 10. Now on January 14, the company’s shares are going to be listed on the stock exchanges.
Bumper premium in gray market
Shares of Delta AutoCorp are seen trading at a handsome premium in the gray market. The company’s shares were seen trading at a premium of Rs 115 against the issue price of Rs 130 in the gray market on Saturday afternoon. In this way, this share can be listed on the stock exchanges at Rs 245 with a premium of 88.46 percent. One lot in the IPO was of 1000 shares. In such a situation, the investors who have been allotted shares in the IPO are expected to make good profits. Retail investors have invested a minimum of Rs 1.30 lakh in this IPO.
Subscribed 342 times
Delta AutoCorp’s IPO has been subscribed a total of 342.1 times. The category of retail investors has subscribed 314.33 times in this IPO. The category of Non-Institutional Investors i.e. NII has received 624.28 times subscription. At the same time, Qualified Institutional Buyers i.e. QIB category has been subscribed 178.64 times.
what does the company do
This company was started in the year 2016. Delta AutoCorp is in the business of manufacturing and selling electric two-wheelers and three-wheelers. This company operates with the brand name Deltic. The company has a network of more than 300 dealers. The company focuses on in-house product innovation.
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